Coventry automotive prototyper wins five figure grant

An automotive prototyping firm based in Coventry is gearing up for accelerated growth after landing a five-figure grant for new equipment to meet rising demand.

Futura Design, which is headquartered on Stonebridge Trading Estate, has received a £25,000 grant from the Business Growth West Midlands team at Coventry City Council with funding from the UK Shared Prosperity Fund - after receiving support from the Coventry and Warwickshire Chamber of Commerce.

The company manufactures prototype models predominantly for the automotive industry, and the money has helped to fund nearly half the cost of a new state of the art paint booth to help with the development of new colours and finishing of high-end prototypes.

It means the firm can now meet the rising demand for its paint development and finishing services from major names such as Jaguar Land Rover, Bentley and Aston Martin, as well as emerging electric vehicle manufacturers.

The latest investment follows hot on the heels of the firm expanding its footprint with the opening of a purpose-built design centre in Leamington Spa earlier this year which will increase their modelmaking capacity, as well as their growing paint and colour development services.  The new facility will include a CMF suite, a polishing/inspection tunnel, and a viewing garden.

Futura Design was founded in 1987 and has an annual turnover of £22 million – up from £18 million the year before - and employs over 50 staff.  

Daniel Abel, Director at Futura Design, said: “This additional paint booth means we now have more capacity, while also being able to recruit additional staff – and is a key part of our growth plans, alongside the new design centre to ensure we are at the forefront of emerging technologies.

“Electric vehicles are soaring in popularity, and this is reflected in the demand for prototypes, and is an area we are gearing up to support over the coming years, while also supporting other sectors such as aerospace, marine and public transport.

“We’d also like to thank not only Coventry City Council for granting us this crucial funding just weeks after submitting the application, but also to the Coventry and Warwickshire Chamber of Commerce who not only signposted us to this financial support when we approached them, but also took the time to help us full out the application form.”

Councillor Jim O'Boyle Cabinet Member for Jobs, Regeneration and Climate Change said: “This is a great example of how collaboration between local organisations can boost our economy.  Like many companies in the city – Futura Design is making a name for itself in a rapidly growing sector. The green industrial revolution is here and it’s great to see another local company leading the way and using a grant to grow and create new jobs for local people.

“This is a really important new sector and that’s why our emerging Climate Change Strategy and our work in partnership with E.ON is so important. This is not only where there will be new jobs, it’s also where we can work to ensure a just transition across the city and tackle inequalities.

“Our expert team offers financial and non-financial support, and I would encourage any local business looking to grow to get in touch so find out more about the full range of support.”

Futura Design were made aware of the grant by the Coventry and Warwickshire Chamber of Commerce’s business advisors, who, after understanding the company’s growth plans, conducted a comprehensive search for relevant investment opportunities and also helped them to fill out the necessary paperwork and liaise with the council on their behalf – all within.

Russell Grant, Business Advisor at Coventry and Warwickshire Chamber of Commerce, added: “As a chamber we pride ourselves on doing everything we can to create opportunities for local businesses to grow, and Futura Design is a great example of a business tapping into the collaborative network of support that is available to all types of firms in our region.

“Having to turn custom down due to being too busy is a bitter-sweet situation for business owners, so I am glad we were able to help Daniel and his team address this swiftly, and we would urge other businesses in a similar position to reach out to us for support.”