A Lancashire company which has developed an innovative software platform for the aerospace sector is set to expand with help from a £60,000 loan from Lancashire’s County Council's Rosebud Finance.
Valuechain.com provides software to help companies manage their supply chain and improve performance. The company, which is based in Preston and supported by its software development and testing teams in China and India, has won multiple innovation grants to help develop its products and is now working with clients including Bentley Motors, Bombardier Aerospace and Hyde Aerospace.
The Rosebud funding will allow it to deliver its current projects and create ten more jobs within the next three years.
Valuechain.com was established in 2010 by Tom Dawes and Haifeng Guo who met as PhD students at the University of Liverpool. Tom, a serial entrepreneur with 17 years’ experience in the aerospace sector, was involved in the 2012 takeover of Preston-based Redthorn to create the DNA Agile Group. Tom will now focus on expanding Valuechain.com and will continue to collaborate with DNA Agile.
Tom said: “Advanced manufacturing sectors such as automotive and aerospace have developed global supply chains to reduce costs and access new customers. However without robust management, the risks can outweigh the benefits.
“Our software allows companies to map multi-tier supply chains, access real-time risk and performance data and streamline intercompany collaboration, so that manufacturing organisations can collaborate with global partners as one extended enterprise. The Rosebud funding will help us to commercialise the technology and accelerate our expansion plans.”
“The innovation grants provided seed capital to develop the prototype platform and pilot it with SMEs and OEMs. We are now commercialising our technology and the Rosebud funding will allow us to accelerate our expansion plans.”
Rosebud is a finance package supporting Lancashire firms to grow and expand their business. It is managed by Enterprise Ventures on behalf of Lancashire County Developments Ltd (LCDL) - the county council's economic development company.
County Councillor Niki Penney, chair of LCDL, said: "Lancashire is already world-renowned for aerospace and advanced manufacturing activity, employing thousands of people.
"This is a sector we've identified as having high-growth potential, so we're pleased that Rosebud is able to support ValueChain as they look to grow their company.
"As well as the growing commercial aircraft sector around the world, the development of the Enterprise Zone here in Lancashire will open up potential new opportunities for companies like ValueChain."
Paul Taberner of Enterprise Ventures said: “With manufacturing becoming increasingly global, and supply chains becoming more complex, companies need ways to reduce risk and monitor the process more effectively. Valuechain’s software will appeal to manufacturers worldwide and could have a strong export market.”
For information about Rosebud visit www.lancashire.gov.uk/business, email firstname.lastname@example.org or contact 01772 536 652.