Necessity is the mother of invention and the increasingly urgent need to discover new ways to harness technology to benefit mankind, means new ideas and ambition are needed now more than at any time in a generation.
Malin Svanberg Larsson, Corporate Tech Partner in the Oxford office of Freeths, considers what it really means to innovate and why driving innovation in your company’s technology is vital for the future,
Inventions help people around the world live longer, healthier and more productive lives and provide new ways to build, move, communicate, heal, learn and play. New tools, software, devices, processes and medicines, are providing significant benefits to society.
“Real innovation is not necessarily all about large scale changes, but often about making smaller incremental changes that make things radically better.”
“Innovation is something that makes a positive impact on humans or the planet – it’s where you think about your product and how it fits in with the wider picture.”
Recently I have supported an Oxford based spin-out company developing fingerprint technology, in the use of smart cards, to create a more secure system for the user – a small change that will make a big difference with big benefits.
Innovation is at the heart of what drives business growth. Technology innovation spans across many sectors including manufacturing, engineering, autonomous technologies, mobile, digital and software innovations, VR, robotics, space technologies, health-tech, bio-tech, GreenTech, agri-tech and consumer products to name a few.
Innovation is vital, because it gives companies an edge in penetrating markets faster, which can lead to bigger opportunities. This is what excites me about innovation.
“I find entrepreneurial spirit, and a willingness to try something new and push the boundaries of what’s possible, hugely exiting to be a part of.”
Take OxWash for example, who have taken a simple concept of laundry and cleaned it up. They made the laundry process different through innovation. They are delivering real change in the way we do laundry and have attracted investment from Holly and Sam Branson, who backed them as the UK’s first sustainable on-demand laundry service, aiming to achieve net zero carbon emissions for the whole process, from collection, through washing, back to delivery. They are using less water which is good for the planet and achieving business growth in the process.
Oxfordshire has been at the centre of innovation for centuries. The Oxford-Cambridge Arc is renowned for world leading research and development, and its innovative science and technology sector. With thousands of great businesses headquartered here, the county is one of the strongest engines for growth in the UK.
Being in a position where I can help companies with their innovation journey is extremely rewarding. We are currently helping one of Oxford’s fastest growing life sciences companies to develop their engineering capabilities, and clinical diagnostics for rapid expansion.
Also, recently I have helped our client, Centrica plc, on its investment in HiiROC Ltd, a company that is helping to combat climate change by developing “green” hydrogen.
I love the ambition of the people behind the businesses here in Oxfordshire. It challenges me personally to look at how we deliver our services and to be adaptable to the constantly changing environments businesses operate in. With our clients we push each other to be better, do better, and to think differently.
How we operate…
My main role at Freeths is to help clients with their challenges. We do that by learning about their industry, which means we can help them both spot opportunity and also avoid problems before they even arise.
“We are business people first and lawyers second which is why at Freeths we are committed to supporting companies with innovation at the core of their business.”
It is exciting to talk to new businesses about what they are developing. We want to meet great businesses and support your innovation, so call us to discuss to your ambitions or challenges and we can help you early on.
The importance of trust…
Nearly all innovations need to secure the trust of the public, to gain the widespread adoption needed to be commercially successful and justify the millions of pounds invested in their development by the private and public sector.
Research from LawtechUK, the government backed initiative within Tech Nation, revealed last year that legal tech firms are needed to support small to medium businesses (SMEs) with their legal issues around innovating. It found that many SMEs do not know when or whether to involve lawyers – and some do not recognise when they have a legal problem.
The right innovative legal techniques can help you save precious time and money and give you a competitive lead in expanding your business.
“My objective is to make the whole process of legal consulting as easy as possible for clients who need our expertise.”
My approach to clients on their innovation journey is to consider the whole picture, and apply a range of service delivery methods to help them innovate and grow
Malin specialises in advising businesses on a wide range of corporate matters from starting up, early-stage investment (including S/EIS funding) right through to exit (whether that is to private equity, or national or international acquirers). She also advises on joint ventures, strategic acquisitions and corporate governance. She advises for clients across a range of sectors including technology, manufacturing and consultancy. Malin is well regarded for her highly attentive and solutions-orientated approach and is known for bringing sound commercial understanding of achieving business goals and objectives.
Malin Svanberg Larsson - Corporate Partner | 0792 160 3252 | malin.svanberglarsson@freeths.co.uk
Connect with Malin - LinkedIn: @Malin Svanberg Larsson
Freeths is committed to cultivating innovation in the region and are supporting a number of innovation initiatives.
The Innovation Challenge
Powered by TBAT, The Innovation Challenge brings together key partners to support SMEs to innovate. The Innovation Challenge will culminate in June with the opportunity to win an exciting prize package of £5,000 and a tailored support packages from a selection of the partners.
Back to the future
Freeths, The Oxford Trust, Oxford Innovation and Barclays Eagle Labs are launching an expert-led event series for science & tech start-ups and spin-outs based in innovation centres in Oxfordshire. The series is designed to help these businesses scale and grow and will go live in April.
Entrepreneurs Growth Hub
Freeths and James Cowper Kreston have launched an Entrepreneurs Growth Hub. It caters for regional entrepreneurs who are looking to de-risk their business growth.
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