CoSTAR launches new AI accelerator for creative startups and SMEs in Surrey
Published 24 June 2026
Funding and grants, Innovation
Early-stage startups and small businesses in Surrey’s creative industries are being invited to apply for a new AI accelerator programme launching this summer.
CoSTAR National Lab, based at Royal Holloway, University of London, has opened applications for CoSTAR Emerge-AI. The programme is designed to help businesses working with artificial intelligence take early ideas from prototype stage through to initial validation.
Applications are open from 17 June to 18 August 2026, with workshops taking place between October to December 2026.
What the programme offers
A tailored three-month support package from October to December 2026
Eight expert-led workshops and masterclasses
Two one-to-one mentoring sessions
Access to specialist facilities and industry connections
Cloud credits to support development
Up to £5,000 funding to cover project costs
The accelerator forms part of the wider CoSTAR AI for Creativity initiative, supporting innovation across the creative and technology sectors.
Who should apply
Early-stage startups and SMEs
Businesses developing AI solutions for the creative industries
Companies looking to test and validate new products or services
Businesses interested in applying can join the webinar on 7 July to learn more about the programme and ask questions ahead of submitting an application. Find out more, and register for the webinar.
For information on other sources of funding and grants, read our monthly Funding Roundup or sign up for our newsletter.
BiofuelAi wins Manchester Prize for AI innovation
Published 16 June 2026
Events and awards, Innovation, Surrey Success Stories
BiofuelAi – a University of Surrey spinout that uses artificial intelligence to help biogas plants produce more renewable energy at lower cost with reduced emissions – has won the Manchester Prize. The UK government’s flagship AI innovation challenge comes with a £1 million government award.
BiofuelAi, co-founded by Professor Michael Short from the University of Surrey, has developed an AI-powered decision support platform. This transforms how biogas plant operators manage production.
Where plants have historically relied on experience, know-how and intuitions, the new platform gives operators a real-time picture of what is happening inside their digesters and what action will produce the best outcome.
Pilot trials have demonstrated revenue increases of between 6 and 10 per cent. Profit is up between 7 and 13 per cent while there is a 28 per cent reduction in carbon emissions.
Expansion plans are underway. BiofuelAi is currently onboarding three new sites with its solution and has signed a UK reseller agreement. In time this could create new roles for the local economy and support regional growth.
BiofuelAi – roots in Surrey
BiofuelAi is a spinout from the University of Surrey’s AI4AD research project. It has attracted more than £1.5m in research funding.
The focus is on biogas. This is produced through anaerobic digestion, the breakdown of organic material such as agricultural waste, food waste and wastewater. It is a significant and growing component of the UK’s renewable energy mix.
The founding team includes Dr Benaissa Dekhici, Dr Rohit Murali and Dr Ruosi Zhang alongside Professor Short and Alan Beesley. Together they combine over 40 years of modelling expertise with experience of the biogas industry.
BiofuelAi’s platform works by combining mechanistic models, machine learning and hybrid approaches to create a digital twin of a biogas plant.
This allows for simultaneous optimisation of short-term decisions – such as feeding recipes and storage management – and longer-term ones, including feedstock acquisition and digester health. It also accounts for uncertainty in the biological process.
Over five years, BiofuelAi projects its platform could deliver more than £500m in client value. By 2030, the company estimates its platform could mitigate 293,000 tonnes of CO2 equivalent per year across the UK – the equivalent of heating 133,000 homes.
BiofuelAi and the Manchester Prize – reaction
Alan Beesley, CEO and co-founder of BiofuelAi, said:“The biogas industry is one of the least data-driven sectors in energy. Plants that generate the heat and power for thousands of homes are still largely managed through spreadsheets and operator experience.
“BiofuelAi changes that. Winning the Manchester Prize validates the work of an exceptional team and accelerates our mission to make green energy more affordable, more consistent and more accessible.”
Science Minister Lord Vallance said:“The technology BiofuelAi has built could supercharge our mission to power Britain with clean, affordable energy, helping green energy plants produce even more power and cut carbon emissions. And they are just getting started.
“The Manchester Prize was created to find exactly this kind of innovation. Not AI as an abstract idea, but something that delivers results. This is British AI leadership in practice: world-class researchers tackling hard challenges and helping to build the industries of the future.”
Professor Stephen Jarvis, President and Vice-Chancellor at the University of Surrey, said:“BiofuelAi follows a long tradition of spinouts from our University – grounded in research with a clear purpose, by people determined to see it make a difference beyond the campus.
“The work started here in Guildford and has now won national recognition for what it could mean for the UK’s clean energy supply. That matters because energy security is not an abstract policy question right now. It depends on producing more of what we need at home, and the less efficiently we use domestic resources like biogas, the more dependent we remain on supplies we cannot control.”
Innovation support from Business Surrey
Business Surrey is a free accessible service to anyone looking to start or grow a business.
This includes working with universities and experts to support turning ideas into fully-fledged businesses via programmes like Surrey Venture Studio.
Surrey’s Local Area Energy Plan – powering a better future for Surrey
Published 15 June 2026
Advice and support, Innovation
Surrey is developing its first Local Area Energy Plan (LAEP). This is a major new initiative designed to address rising pressure on the county’s energy network and prepare for a future powered by cleaner, more affordable energy. The LAEP will act as an evidence-based roadmap for upgrading Surrey’s energy infrastructure, helping the county meet rising demand from new housing, electric vehicles, and a growing economy.
Why it matters
Surrey’s energy system is already under strain. Without coordinated action, this pressure will limit business and economic growth, increase costs, and slow progress toward net zero.
The LAEP aims to:
Encourage investment in renewable and locally generated energy
Improve home energy efficiency and reduce long term energy bills
Support new green jobs and skills development
Strengthen Surrey’s appeal as a place to live, work and invest
Who should get involved
Surrey’s LAEP team would like to engage with businesses and other organisations in Surrey to understand their current and future energy needs. If your organisation uses, stores, or generates significant energy, the team is keen to hear from you. This information will help them understand how Surrey’s energy needs are changing and where investment should be prioritised in future.
The team is particularly interested in organisations that:
Have a significant presence in Surrey now, or plan to in the future
Have high energy use, transport fuel use, or generate waste heat
Work in the energy, transport, infrastructure, or development sectors
Have experienced barriers to producing, generating, installing, or storing energy or fuels. Your insights will help shape a robust, realistic, and future proofed energy plan for the county.
Why get involved
By getting involved, your organisation can help shape Surrey’s future energy system. By taking part your business could benefit from:
Confidence that your future energy needs will be met
An opportunity to help influence where and when grid upgrades are prioritised
Opportunities for investment, innovation, and partnership
Support for your decarbonisation and growth plans
A stronger, more resilient local economy
A role in building a cleaner, more secure energy system for Surrey
Join the LAEP launch webinar to find out more
The Surrey LAEP team are holding a webinar on 21 July to provide an introduction to the LAEP. The webinar will cover the benefits of the LAEP, what it could mean for your business, and how your organisation can help shape Surrey’s future energy pathway. Register here to save your space.
King’s Awards for Enterprise 2026 honour two leading Surrey businesses
Published 19 May 2026
Events and awards, Innovation
The King’s Awards for Enterprise 2026 winners have been announced with two Surrey businesses being recognised for driving innovation and growth.
The annual awards celebrate the achievements of leading businesses from across the UK, recognising their vital role in growing our economy to improve lives.
This year two Surrey businesses have been awarded The King’s Award for Enterprise for Innovation.
Based in Lingfield, this company is recognised for its rapidly deployed innovative foundation and cable management system. This eliminates concrete and reducing carbon emissions significantly.
Develops ultra-slim flexible medical devices to address prostate pain and reduce prostate cancer from its HQ in Puttenham, near Guildford
His Majesty’s Lord Lieutenant Michael More-Molyneux – the King’s representative in Surrey – will be presenting the King’s Awards for Enterprise 2026 to businesses throughout the year. One representative from each winning business will also be invited to a special Royal reception event.
They are among 186 recipients honoured by His Majesty this year in what is billed “the UK’s most prestigious business awards”.
Overall, 76 businesses have been recognised for International Trade and 52 for Innovation. 36 received honours for Sustainability and 22 for Promoting Opportunity (through social mobility).
The King’s Awards – celebrating business success for 60 years
This year marks a significant milestone for the King’s Awards as they celebrate 60 years since the first honours were conferred.
Established in 1965, the programme has since recognised more than 8,000 exceptional UK businesses, highlighting the strength, innovation, and ambition of British enterprise.
To mark this anniversary year, and to ensure the Awards continue to reflect the evolving landscape of UK business, a new category has been introduced for 2027.
The King’s Award for Enterprise – Young Founder recognises those aged 18 to 30 who are actively leading their businesses and driving growth and opportunity.
Blair McDougall, Minister for Small Businesses and Economic Transformation, said:
“A huge congratulations to every business receiving awards this year, who once again have illustrated the best of British innovation and talent.
“These awards show that right across the UK, there are small businesses that are thriving, growing and succeeding and it’s only right that we champion these successes.”
Out of the 186 awards, 164 (89%) went to SMEs. And of those, 24 (13%) are micro-businesses, with 10 employees or less.
The King’s Awards for Enterprise were previously known as The Queen’s Awards for Enterprise. They were renamed two years ago to reflect His Majesty The King’s desire to continue the legacy of HM Queen Elizabeth II by recognising outstanding UK businesses.
King’s Awards for Enterprise 2027 – apply now
The King’s Awards for Enterprise are the highest accolade for business success.
As well as honouring outstanding UK companies, they encourage the development of British business.
There are five categories:
International trade
Demonstrating growth in overseas earnings
Innovation
Proven commercial success through innovative products or services
Sustainable development
Integrating environmental, social, economic and management aspects of sustainable development into their business
Promoting Opportunity through social mobility
Have had a social mobility programme running for more than two years, helping socially disadvantaged individuals or groups
Young Founder
recognising founders aged 18 to 30 who are actively leading their businesses and driving growth and opportunity.
The Surrey Lieutenancy is happy to help and advise you at any stage of your application process. It may also be possible to put you in touch with other companies in Surrey that have successfully applied. Get in touch via the Lieutenancy Office website.
You can also contact the King’s Award team on 020 7215 6880 or emailing kingsawards@beis.gov.uk.
Any Surrey business looking for support to grow, contact the Business Surrey team via our Business Support Form.
Meat vending machine coming to Surrey farm thanks to Economic Growth Fund
Published 15 May 2026
Funding and grants, Innovation, Surrey Success Stories
A Surrey farmer is bringing consumers closer to his produce – by setting up a meat vending machine at Ivelle Farm in Cranleigh. It’s been made possible thanks to funding from the Surrey Economic Growth Fund.
A decade ago, Alec Clouting spotted an unusual idea at a farming event – vending machines selling local produce. He realised it could be a way to diversify his family’s business and give the community direct access to farm-fresh meat. But with limited funds, the idea had to be put on hold.
But Alec can now make his dream a reality with help from the Economic Growth Fund. The grant has helped to buy a shipping container, commercial freezer and vending machine. This allows him to sell frozen beef, lamb and pork, seven days a week.
Are you a Surrey farmer or rural business looking for support to diversify? Or have an idea that will help your enterprise grow? Get in touch with our team of experts via our Business Support Form.
Bringing consumers closer to produce
Most meat from Ivelle Farm is sold wholesale to livestock markets and then re-sold to supermarkets. But selling the meat direct to consumers gives the farmers more control – and more of the profits.
What’s more, it keeps people connected with food producers. Alec says: “I am a big believer of people being in touch with where their food comes from, for the local community to be able to come to the farm where it comes from and get it direct.”
Alec is the fourth generation of farmers at Ivelle Farm. His father is currently at the helm. But he’s been working at other farms while looking for a way back into the family firm.
He explains: “We’re finding there’s a lot of financial challenges with farming. It is a small farm and this will give me an opportunity to come back, have a place in the business and viably sell our produce direct to the consumer. It wouldn’t be happening without the funding.”
And the impact extends beyond one family’s enterprise. The initiative supports a local butcher and abattoir, creating a network of rural businesses working together.
He says: “The benefits go further than just us, and it is about supporting other local businesses.”
Alec’s vision doesn’t stop at meat. He said: “I am excited to adapt the farm to what the community consumes and what is in demand in the local area. Down the line I would like to expand so people can come and get all their basics.”
As a proof of concept, the model could be replicated across other farms through a franchise approach, offering a blueprint for agricultural diversification in an era of farming uncertainty.
Alec said:“I’m very grateful for the opportunity the Economic Growth Fund has provided me with. And doubled up with the support from the team at Business Surrey, it’s really helped get the project off the ground and build a vision for the future.
“Farming is a very difficult business to navigate with many layers of complexity. And with the recent added pressures of the farm inheritance tax, it’s becoming harder to make small family farms like ours financially viable.
“Many futures have been thrown into uncertainty. So having a futureproof way of selling my produce as profitably as I can will give me the best chance I could wish for!”
Are you a Surrey farmer or rural business looking for support to diversify? Or have an idea that will help your enterprise grow? Get in touch with our team of experts via our Business Support Form.
Surrey Venture Studio’s first incubation programme gets off to flying start
Published 12 May 2026
Advice and support, Funding and grants, Innovation, Surrey Success Stories
Surrey Venture Studio (SVS) is preparing to launch its first six‑month incubation programme, supporting early‑stage founders across Surrey to turn raw ideas and early‑stage concepts into customer‑ready businesses. The incubation accelerator is aimed at pre‑start‑ups who have completed SVS’s business ideation workshops and offers tailored support based on each entrepreneur’s stage of development.
One of the founders joining the inaugural cohort is Natalie Foo, creator of InchStone, a voice‑first app designed to support families raising children with developmental differences.
Meeting a need discovered from personal experience
InchStone was shaped by personal experience. Natalie explains, “I built it because I’m a parent in this community and the gap was too obvious to ignore.”
“The app organises your spoken observations into records ready for therapy, funding applications, and official assessments.”
Natalie first engaged with SVS through its intensive two‑day workshops, which focus on validating ideas before founders rush into building products.
As SVS Manager Odysseas Bassioukas, puts it, “SVS is a venture builder where people are coming to us to build from the idea to a company.”
“The workshops were intense but incredibly helpful,” Natalie says. “They helped me hone in on my idea and start making a plan. The focus on customer development really stood out; SVS puts that the right way around.”
The incubation programme will provide expert mentorship, peer support and hot‑desking facilities, alongside access to professional services such as legal advice, to help founders protect their intellectual property. For Natalie, the timing feels right. “It feels like the right moment to find out what’s actually working,” she says, as she prepares to pilot InchStone and connect with Surrey’s wider business network.
What is Surrey Venture Studio?
This is an exciting new pre-accelerator programme to help innovators, academics and entrepreneurs across Surrey explore whether turning an idea into a business is the right path to follow.
Opportunity to progress to a six-month accelerator
Up to £25,000 catalyst grant funding, for successful six-month accelerator participant
Spaces on the workshop are limited and will be offered to applicants whose ideas are at the right stage of development and show strong potential for innovation and commercialisation.
At the end of the two-day workshop, participants will be invited to pitch their ideas ‘Dragon’s Den’-style. The successful applicants will secure a coveted place on the six-month accelerator programme and take a step closer to securing £25k in grant funding to launch their business!
South East manufacturers get £3.1m digital transformation boost through Made Smarter
Published 30 March 2026
Advice and support, Funding and grants, Innovation
Hundreds of manufacturers across the South East are set for a major digital upgrade after the Government confirmed fresh funding for the Made Smarter programme from April.
The £3.1 million investment will give SME manufacturers across the region access to expert technology advice, leadership training, digital skills development and match-funded grants to help boost productivity, drive innovation, create high-value jobs and cut carbon.
Made Smarter South East is a government-backed, industry-led programme delivered by Surrey County Council in partnership with 11 local authorities and Local Enterprise Partnerships across the South East region.
Made Smarter’s impact in the South East
Since launching in April 2025, the programme has supported 273 manufacturers, participated in 137 diagnostic workshops, developed 93 digital roadmaps, delivered 41 leadership and digital champions training interventions, placed 6 digital interns, and approved grants for 20 technology projects.
Over the last year, manufacturers have secured over £307,000 in matched funding to enable over £1 million of investment in technologies ranging from ERP systems and 3D printing to robotics and automation.
Bryan Vint, Programme Manager for Made Smarter South East, said:“This new wave of funding is a huge boost for manufacturers across the South East. In our first year we have already shown what the region can achieve when SMEs have access to the right advice, skills and technology.
“The continuation of the programme gives businesses the confidence to plan ahead, invest in digital tools and build the skills they need to grow. We are excited to help hundreds more manufacturers unlock productivity, resilience and long-term growth.”
The support available with Made Smarter
Made Smarter is designed to give manufacturers a fast and practical route into digital transformation. Businesses begin with an expert digital assessment to identify their technology and skills priorities, followed by a tailored roadmap to guide future investment.
Leadership development programmes, workforce training and digital internships help companies build the capabilities needed to adopt new technologies and embed change across their organisations.
To support technology adoption, businesses can also access match funding of up to 50 percent, with grants of up to £20,000 available for capital technology projects.
How one Surrey business has benefitted from the programme
Cambertronics, based in Cranleigh, Surrey, is a contract electronics manufacturer providing design, prototyping and full turnkey production for sectors including automotive, marine, agritech and industrial electronics. Through Made Smarter South East, the business completed a Digital Transformation Workshop and joined the Leadership and Digital Champion programmes to help shape its digital strategy and build internal capability for change.
Jasper Whitefield, Business Development Manager, Cambertronics, Cranleigh, Surrey, said:“We’ve invested heavily in advanced manufacturing equipment over the years, but many of our systems still rely on manual processes. We wanted to explore how digital technology could help improve traceability, streamline processes and give us better visibility across the business.
“The Digital Transformation Workshop helped us identify clear priorities, including automated barcoding, ERP integration and strengthening leadership capability across the team. Taking part in the leadership and Digital Champion programmes is helping us build the confidence, skills and internal ownership needed to drive that change. It means we can modernise our operations, respond faster to customers and continue delivering the quality and expertise they expect as the business grows.”
To learn more, and start your journey to digitisation with free support from Made Smarter, visit the Made Smarter website.
Funding support for your Surrey business
Looking to raise funding or investment into your Surrey business? Our team of experts are on hand to provide fully-funded advice to all Surrey businesses.
Get in touch via our Business Support Form to see how your business could access finance to help you grow.
Picture credit: Cambertronics
High Streets Support programme gathers pace – with online events now available
Published 16 March 2026
Advice and support, Business news, Innovation
The High Streets Support and Innovation programme continues to be delivered across Surrey this spring. Nearly 140 businesses have registered so far – and online events are now available.
The Surrey High Street Growth and Innovation Programme is open to a wide range of businesses. This includes independent retailers, start-ups, market traders, charities and social enterprises.
It helps high street businesses in winning new customers, boosting sales and creating growth as part of wider efforts to strengthen and futureproof centres of the community.
It’s funded bySurrey County Council’s Economic Growth Fund and delivered by specialists Smarter Society and The Retail Group. It includes free practical workshops, online resources and one-on-one tailored support.
There is also a focus on 22 high streets in all 11 of the county’s district and borough areas, with detailed workshops developed to help retailers attract more customers, boost footfall, improve visibility and increase customer spend.
The High Streets Support scheme is developed in collaboration with economic development teams from district and councils. Representatives from Business Improvement Districts (BIDs) across Surrey have also been involved.
It launched last month with workshops running through February, March and April in key locations.
The Smarter Society outreach team is already pounding the pavements of Surrey’s high streets, meeting hundreds of business owners face-to-face and signing retailers up for workshops.
In the first few weeks, nearly 140 businesses have registered and 75 received support across five areas.
Four free workshops will take place in each district and borough. This will cover practical topics such as increasing footfall, improving online and in-store visibility, getting more from social media and promotions, and planning for growth.
Matt Furniss, the Council’s Cabinet Member for Highways, Transport and Economic Growth, said:“High streets are the lifeblood of our communities. They’re integral to the character and vitality of our towns and villages, which is why we’re committed to supporting them alongside our district and borough partners and Business Improvement Districts.
“This programme is a real investment in the people behind Surrey’s independent businesses, giving them the tools and knowledge to thrive – which is good for our economy, our residents and our communities.”
Geoff Baxter, Managing Director of Smarter Society, said:“The Surrey High Street Growth & Innovation Programme is gaining real momentum. Businesses across the county are engaging enthusiastically with our on‑street support and workshops, and we’re proud to see such strong early signs of growth and innovation on Surrey’s high streets.”
High Streets support – online events
Are you a high street business struggling to attend in person? We’ve just released a series of online sessions to allow you to pick up tips and advice virtually.
Recordings will be available on demand afterwards.
Fundraising data for 2025 sees £1 billion boost to Surrey economy
Published 9 March 2026
Business news, Funding and grants, Innovation
Fundraising data for 2025 highlights a £1 billion boost to Surrey’s economy in the last year. The top 20 businesses alone brought in millions of pounds and created dozens of new roles, helping cement Surrey as one of the UK’s regional economies.
Data supplied by private company data platform Beauhurst and its partners Mercia Ventures shows there were 111 fundraisings from registered businesses with trading offices in Surrey in 2025. In total more than £1 billion is estimated to have been raised.
This is nearly half the total amount raised across the whole of the south east (£2.25 billion). Plus one in six deals in the last year across the south east took place in Surrey (111 out of 667).
The largest was McLaren, the Woking-based automotive company, which is estimated to have raised £811 million in December 2025.
The figures are highlighted in a report called The Deal 2026, compiled by Beauhurst Insights and Mercia Ventures.
It examines all equity investments received by UK-headquartered companies across all industries.
Key findings from The Deal include:
Amount raised into UK companies in 2025 has increased by 3.34% from last year
Number of first-time deals in 2025 has increased by 23.6% year on year
Amount raised has also reached a record high since 2020, up 74.3% to £6.27b
Total number of deals has continued to ease, down 7.87% from 2024
Fundraising in 2025 – top 20 Surrey businesses
McLaren (automotive) – £811 million
Gordon Murray Design (automotive) – £88.9 million
AFC Energy (renewables) – £23 million
Nature Metrics (environmental) – £20.3 million
CelLBxHealth (biotechnology) – £6.8 million
Futura Medical (biotechnology) – £2.75 million
Evolve Dynamics (aerospace) – £2.73 million
The HOPP (sports and leisure) – £2.45 million
Orthofuse (manufacturing) – £2.2 million
Fiinu (financial) – £3.25 million
Bruce’s (pets) – £1.75 million
Hofmeister (beverages) – £1.74 million
Money Guided (financial services) – £1.55 million
Assisted Living Project (property) – £1.54 million
Mater-AI (clean energy) – £1.5 million
Bots For That (accounting) – £1.5 million
BetterPoints (technology) – £1.34 million
Limetrack (technology) – £1.32 million
Cignpost (medical) – £1. 26 million
SchoolsMobile.com (technology) – £1.09 million
Fundraising data 2025 and The Deal
The fundraising date for 2025 is presented in a report titled The Deal 2026.
Will Clark, Managing Director for Mercia Ventures, writes:“This year’s data suggests that the UK equity market is not retreating so much as refining its focus, and that founders remain firmly at the centre of that recalibration.”
He adds:“While the overall number of deals eased again in 2025, the amount of capital being deployed did not. Total equity investment rose modestly year on year, and average deal sizes continued to increase, passing £4m for the first time since 2021.”
Funding support for your Surrey business
Looking to raise funding or investment into your Surrey business? Our team of experts are on hand to provide fully-funded advice to all Surrey businesses.
Get in touch via our Business Support Form to see how your business could access finance to help you grow.
Surrey Venture Studio underway turning innovative ideas into businesses
Published 12 February 2026
Advice and support, Funding and grants, Innovation
Surrey Venture Studio is underway turning innovative ideas into businesses. The scheme is funded by Surrey’s Economic Growth Fund giving innovators and entrepreneurs the chance to pitch their bright ideas to a Dragon’s Den style panel to win a £25,000 cash boost.
Surrey Venture Studio has been developed by the county’s three universities – Royal Holloway University of London, University for the Creative Arts and University of Surrey – to boost innovation, launch successful businesses and create jobs.
Funded by Surrey County Council’s Economic Growth Fund, it brings together entrepreneurs, academics and students for intensive two-day workshops before they present their ideas to an expert panel.
Successful participants secure places on a six-month accelerator programme with the possibility of receiving up to £25,000 in catalyst grant funding to launch their businesses.
The first event was held this month at the University of Surrey’s Surrey Technology Centre in Guildford. 13 budding entrepreneurs worked through their ideas in specialist sessions.
Further fully-booked workshops are scheduled this month. They’ll take place at Royal Holloway University of London, University for Creative Arts’ Epsom campus, and Surrey County Council’s headquarters in Reigate.
It is one of dozens of innovative projects funded by the council’s Economic Growth Fund. This has seen millions of pounds of government and private funding invested to drive growth, create jobs, improve infrastructure, increase productivity and upskill Surrey’s workforce.
Matt Furniss, Surrey County Council’s Cabinet Member for Highways, Transport and Economic Growth, said:“In less than a year, the Economic Growth Fund has seen millions of pounds of funding invested in creating jobs and boosting growth across Surrey.
“Surrey Venture Studio is just one of dozens of projects which secured funding from the competitive process – and I’m looking forward to seeing some of these bright ideas develop and grow into fully-formed businesses in the months and years to come.”
How does Surrey Venture Studio work?
Surrey Venture Studio is designed to support those with ideas, prototypes or early-stage research that haven’t yet reached their full revenue-generating potential.
The programme provides expert mentoring and structured support to help innovators determine whether turning their idea into a business is the right path forward.
Successful accelerator participants will commit approximately two days per month over the six-month programme. They’ll also receive ongoing mentorship and support as they develop their business propositions.
Chris Pett, Digital Innovation Sector Lead at SETsquared, who led the first sessions, says:“The idea is that we’re building people up to the point where they feel more confident and capable to get out of the building and discover potential market opportunities based on the spark of an idea they’re thinking about right now.
“For a lot of them, this could result in a major change in their career from academic research into becoming an entrepreneur and potentially building a business.”
Speaking at the first workshop, Caroline Fleming, Director of the Surrey Innovation District at the University of Surrey, said:“We are delighted to launch this Surrey Venture Studio programme. We’ve got a brilliant collection of really bright minds – students, entrepreneurs and academics from the University of Surrey and the wider community – and we’ve been giving them some tips on how to think about what they need to do to develop their business.
“They’ve been really engaged, coming up with some fantastic questions and feedback. Hopefully they get really good value out of our workshop.”
A second round of applications is expected to open in spring 2026.
