OSY Group, renowned for its innovative food technology, has secured a significant grant from Innovate UK. The funding, part of Innovate UK’s Global Explorers Programme, is aimed at boosting the company’s international growth. This financial support will help OSY Group accelerate partnership opportunities and conduct research in new global markets.
The primary focus of this initiative includes regions such as Europe, Australia, New Zealand, Canada, South Africa, Singapore, and Hong Kong. According to Marc Braterman, the chief executive of OSY Group, this funding is crucial in their mission to reduce global food waste through their groundbreaking technology, Xtend.
Innovate UK Funding Boost
OSY Group, known for its innovative food tech solutions, has been awarded a five-figure grant from Innovate UK’s Global Explorers Programme. This funding aims to support the company’s international growth by accelerating partnership opportunities and research in various global markets. The initiative will focus on regions including Europe, Australia, New Zealand, Canada, South Africa, Singapore, and Hong Kong. Marc Braterman, the chief executive of OSY Group, emphasised the significance of this financial backing in their mission to reduce food waste globally.
The company’s flagship technology, Xtend, is an antimicrobial packaging coating designed to extend the shelf life of fresh produce. Xtend works by creating microscopic pins on packaging surfaces that puncture and kill microbes, thereby slowing down the spoilage process. This innovative solution has undergone extensive testing in the UK, proving it to be food safe and compliant with Food Contact Materials regulations. This new funding will be instrumental in bringing Xtend to international markets.
Extensive Testing and Proven Results
Xtend has been rigorously tested in various independent laboratories, universities, and other facilities across the UK. These tests have confirmed that the technology meets all necessary food safety standards. The product has shown remarkable results in maintaining the freshness of a wide range of food items, such as fruits and vegetables. The successful results from these tests have paved the way for the international launch of Xtend, which is expected to take place in the coming months.
This technology is not just about keeping food fresh for longer. It addresses a major global issue – food waste. According to Marc Braterman, one-third of all food produced globally goes to waste, contributing between eight to ten per cent of global greenhouse gas emissions. By extending the shelf life of fresh produce, Xtend offers a practical solution to this pressing problem.
Expanding Global Reach
With the new funding, OSY Group is set to accelerate its research and development projects. The aim is to understand how Xtend can be adapted for use in different markets and climates. This will involve testing the viability of the technology in various types of packaging and for different food items, including meats, fish, poultry, and bakery products.
The company is also exploring commercial partnerships and collaborative R&D projects with universities and industry bodies abroad. These partnerships will help OSY Group navigate the regulatory environments in targeted territories and understand key variables that could impact the technology’s effectiveness. This strategic approach will support their ambitious global expansion plans.
OSY Group’s base at the Manchester International Office Centre near Manchester Airport places it at a strategic advantage for global operations. The location provides excellent connectivity and access to international markets. Marc Braterman highlighted that their goal is to maximise overseas opportunities, with a focus on adapting their technology to meet the specific needs of different regions.
Support from Innovate UK
The Global Explorers Programme by Innovate UK is designed to help UK SMEs explore global opportunities and build research and innovation partnerships. This programme has been a key enabler for OSY Group’s international ambitions. Innovate UK’s backing, which now totals over £500,000, has provided the resources needed for extensive research and development, facilitating the commercialisation of OSY Group’s innovative ideas in fast-growing global markets.
Andreas Johansen, a senior innovation and growth specialist at Innovate UK Business Growth, expressed pride in supporting OSY Group. He acknowledged the company’s innovative approach and the promising connections they have made overseas. He stated, “We are proud to be part of OSY Group’s exciting R&D journey. This includes supporting Marc and the team with innovation funding through the Innovate UK Better Food for All competition, and now with international opportunities.” OSY Group’s international prospects are bright, supported by robust funding and strategic partnerships.
Future Prospects and Goals
Looking ahead, OSY Group plans to leverage the new funding to enhance their technology further. They aim to expand the applicability of Xtend to include a broader range of food items. This will involve addressing various regulatory criteria and understanding the specific needs of different markets. The company is committed to reducing food waste on a global scale and contributing to environmental sustainability.
The demand for solutions like Xtend is evident, given the urgent need to reduce food waste and its associated environmental impact. OSY Group’s focus on research and development will enable them to refine their technology and adapt it to meet diverse market requirements. This approach will not only support their international expansion but also position them as a leader in the global food tech industry.
By focusing on innovative solutions and strategic partnerships, OSY Group aims to make a significant impact on reducing food waste worldwide. Their efforts are aligned with global sustainability goals, making them a key player in the fight against food waste and its environmental consequences.
Challenges and Considerations
While the company has made significant strides, there are challenges that lie ahead. Navigating different regulatory environments, understanding market-specific needs, and ensuring the technology’s adaptability will require meticulous planning and execution. However, with the support of Innovate UK and strategic partners, OSY Group is well-equipped to tackle these challenges.
The ability to adapt Xtend for various climates and packaging types is crucial for its success in international markets. This will involve ongoing research and rigorous testing to ensure the technology meets the necessary standards. The company’s commitment to innovation and sustainability will be key drivers in overcoming these challenges.
Strategic Importance of Funding
The five-figure grant from Innovate UK is pivotal for OSY Group’s future. It will enable the company to explore new markets and enhance their technology. This funding is a testament to the importance of innovation in addressing global issues like food waste and sustainability. With the financial backing, OSY Group can expedite their research and development efforts, ensuring they remain at the forefront of the food tech industry.
In conclusion, OSY Group’s international ambitions are well-supported by Innovate UK’s substantial funding and strategic initiatives. This backing will enable the company to not only expand its innovative technology, Xtend, but also address critical global issues such as food waste. The extensive testing, research, and potential partnerships signal a promising future for the company in various international markets.
The journey ahead may come with challenges, particularly in adapting to different regulatory environments and market-specific needs. However, with robust support and a clear strategic vision, OSY Group is well-positioned to make significant strides in the food technology industry on a global scale. Their efforts will likely contribute meaningfully to environmental sustainability and the reduction of food waste worldwide.