Two London companies have reached reached the grand final of a prestigious enterprise awards after coming through the regional heat.
The best enterprise category in the London and South East heat was topped by Pavegen Systems Ltd, which manufactures floor tiles that harvest renewable energy from each footstep. Pavegen was judged as the business which showed most potential for growth over the next five years.
Pavegen CEO and founder Laurence Kemball-Cook said: “This award is great recognition of the incredible strides that both Pavegen and its technology have made.
“It’s still only less than three years since, after graduating from Loughborough University, I began to develop the original technology behind Pavegen. From the original idea of generating electricity from human footfall, we are now a business of 20 staff based in central London.
“Great ideas, and great businesses, need vital investment sooner. It’s significant that Lloyds TSB is recognising small, rapidly growing businesses such as Pavegen – businesses that will make up future UK growth projections.”
Pavegen has received £5,000 for coming through the regional heat and will have the chance to pick up a £50,000 prize at grand final.
The award for best start up went to KwickScreen, a firm which makes portable retractable screens and room dividers. KwickScreen was recognised for the progress it had made as a business in its early stages. It picks up a £1,000 prize, but will receive a further £10,000 if it takes the national award.
KwickScreen founder Michael Korn said: “Hopefully this award will help to raise awareness of the KwickScreen and how it can help to provide dynamic space solutions. At the moment we are predominantly selling KwickScreen to hospitals, allowing them to adapt the use of their space to provide the most appropriate environment for their patients.
“This will also result in great benefits to patients and the wider community by being able to offer increased care.”
Both companies will now go on to the grand final of the Lloyds TSB Enterprise Awards in March.
They will also benefit from a two-year mentoring programme from senior executives at Lloyds Banking Group. The companies will be provided with coaching and support on important business issues including finance, planning and marketing, while an independent specialist law firm will offer them free legal advice.
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