The UK has more inventiveness per capita than any other nation on earth. Analysis has shown that the UK has been responsible for over 50% of the world's most important inventions. The UK's distinctive capabilities are not raw material, land or cheap labour - they are knowledge, skills, and in particular, creativity.
Professor David Nicholas pioneered The Virtual Company concept while at Business Link Wessex and subsequently at Kingston University. Thanks to TVC he beat the national inventor / start-up conversion rate for turning incredible ideas into credible businesses by a factor of six.
In 1997 for example, David used TVC principles to support 39 companies. By 1998, £2.8M in SMART awards had been put into these companies. By 2003, 35 companies were still in business whilst just two had ceased trading and two had sold out. This is an exceptional record, and Kingston University's Enterprise Exchange was proud to employ David from September 2004. Sadly, David died in December that year, at his desk doing what he enjoyed, helping inventors.
In its first 18 months operating The Virtual Company scheme Kingston University has attracted almost £1m in grant funding, with several projects in line for substantial further funding
