Thermblow, a spin out company from the world leading Polymer Research Cluster at Queen’s University Belfast has become the latest graduate from the NISP CONNECT Springboard Programme, which is designed to deliver bespoke mentoring support to science and technology entrepreneurs at different stages in the business growth cycle.

Thermblow offers consultancy services to manufacturers of certain types of plastic packaging in a worldwide market estimated to be worth more than $100 Billion. Utilising advanced software developed at QUB, their service will enable global companies of all sizes to make significant savings in their raw material costs and/or meet their environmental obligations by switching to recyclable plastics which do not compromise on product quality.

The company applied to take part in Springboard to help test its business model and working with an experienced Entrepreneur in Residence it received free coaching over a 12 week period as well as an opportunity to present its business plan to the scrutiny of a tailored group of experts relevant to the business.

Speaking about the experience, Andrew Walmsley, CEO of Thermblow said; “The role of the Springboard programme is to constructively challenge your thinking and heroic assumptions by bringing together a diverse set of skilled and experienced people including potential customers. As well as the ongoing coaching, the process resulted in a presentation to a panel of experts followed by an intense 90minutes of Questions and Answers. Essentially the business has now been stress tested and the founders are focused on what needs to be done and what risks to watch out for. There is no doubt that it has increased the chances of the long term success for Thermblow.

“NISP Connect is about accelerating the growth of promising technologies and early stage companies and Springboard is an excellent programme which does just that. If you have a suitable venture, you will have to travel a long way to find the mix of commercial, technical, management, and other expertise available free of charge to help you decide whether your particular business idea is worth pursuing and help you develop a business model that has a reasonable chance of success.”

Backed by a panel of experienced ‘Entrepreneurs and Executives in Residence’ and ‘Domain Experts’, Springboard offers free coaching to companies and innovators with the potential to achieve £10m to £100m turnover within five to ten years. Targeting companies operating within the Life Sciences, CleanTech, HiTech and Digital media and software sectors, Springboard delivers bespoke support regardless of where the company is in the business development cycle. Accordingly, it invites applications from companies at proof of concept, technology transfer, or ‘investment ready’ stages. It also mentors companies that are in transition, whether launching a new product or planning to enter a new market.

Speaking about the latest graduate, Joanne Jennings, Programme Manager for Springboard said;

“Thermblow is an excellent example of the huge potential offered by our leading innovators. We want to encourage more like them to commercialise their promising disruptive technology ideas. Using such business model testing and refinement we expect to fast-track more successful innovation entrepreneurs in Northern Ireland and welcome approaches from more innovative companies who have developed a product and be in a position to work on their business model.

Interested entrepreneurs or would be entrepreneurs should visit the NISP CONNECT website www.nispconnect.org to find out more or contact Joanne Jennings on 02890737821.

Notes to Editor

About NISP CONNECT

NISP CONNECT is an independent, non-profit organization fostering entrepreneurship by accelerating the growth of promising technologies and early stage companies. A collaboration between Northern Ireland Science Park (NISP), the University of Ulster, Queens University, Belfast and Agri-Food Bioscience Institute, NISP CONNECT acts as an ‘honest, neutral broker’ within the region through provision of direct delivery programmes, mentorship/coaching services, educational seminars and events geared at developing and encouraging entrepreneurial ideas, talent and leadership.NISP CONNECT is part financed by the European Regional Development Fund under the European Sustainable Competitiveness Programme for Northern Ireland 2007-2013.