A specialist consultancy which helps businesses develop, commercialise and protect technology innovations is moving into Nottingham.
yet2 has its origins in a venture launched by a consortium which included global innovation leaders like DuPont, Procter & Gamble and Honeywell.
Today, it’s an owner-managed consultancy which operates across the globe for clients which range from FTSE100 and Fortune 500 companies to the US space agency NASA.
In Europe, yet2 is run by Edward de Paz, who has just opened a second UK office at the University of Nottingham Innovation Park (UNIP) – one of the largest concentrations of research commercialisation in the Midlands.
He explained: “We are an open innovation and technology scouting consultancy and we have a 20-year track record of helping our clients identify innovations relevant to sectors like aerospace, automotive, chemicals, consumer health, energy, homecare and food and beverages.
“The simplest way to describe what we do is to say that we ignite open innovation for our clients – we scout for innovative solutions to opportunities or challenges in their industry, we connect them with ideas and technologies that might be useful to them, and we acquire patents on their behalf to technologies which are relevant to their markets.”
To begin with, yet2’s office at UNIP will be home to four people but this is expected to grow to eight over time.
“I know Nottingham really well because I studied here and I live here,” Edward said. “I can actually remember this site back when it was the home of Raleigh and the way in which it has been developed by the University of Nottingham into a beacon for the future is hugely impressive.
“UNIP is an innovative, research-led environment and we can see clear benefits in being alongside people developing new ideas. We wanted to be part of a community of like-minded people and make connections with organisations like the Midlands Engine and D2N2 (the local enterprise partnership) who share our appetite for identifying and exploiting innovation.
“We’re extremely keen to hear from people and organisations with innovations that have potential and we have an open innovation portal which enables them to match their ideas to clients they may be relevant to.”
yet2 is the latest in a series of businesses to move into UNIP, which recently announced plans to double in size over the next 10 years.
Dr Mark Tock, UNIP’s Operations Director, said: “We’re delighted to welcome yet2 to UNIP because they are the perfect match for what we are – an environment which brings innovative people together and encourages them to develop the technologies of the future.
“We have seen increasing demand for space at UNIP and this is why we have marked our 10th anniversary with ambitious plans to expand the space available in the years to come.”