Ploughshare announces multi-million pound export deals

Ploughshare Innovations announces that it has provided an increasing number of growth and economic benefits to the UK economy, including the creation of multi-million pound export deals.

The technology commercialisation arm of the Defence Science and Technology Laboratory (Dstl) has announced the benefits, which include the creation of hundreds of jobs and multi-million export deals.

The latest report, commissioned by Ploughshare and conducted by SQW, an independent economics consultancy, shows an increase in the benefits Ploughshare has delivered to the economy since the report in 2015.

The economic impacts include: a creation of a maximum of 585 jobs, an increase of 85; an increase of 70 per cent in exports from £44 million to £75 million; £118 million gross value added (GVA), a measure of goods and services produced, increased by £53 million; and spin-out companies have attracted £140 million investment, an increase of £10 million.

Ploughshare’s activities have also provided wider qualitative benefits to both industry and society.

The commercialisation of technologies has contributed to the development of new products for the MOD, including advanced vehicle armour, electronic warfare software, and bio and chemical threat detection.

James Kirby, CEO of Ploughshare Innovations, said: “This latest report again demonstrates the success that Ploughshare has become. By commercialising the best Intellectual Property (IP) created at Dstl we maximise their investment in technology research and provide wider benefits to both humanity and the UK’s prosperity and security.”

Graham Farnsworth, head of IP Group at Dstl, said: “Our collaboration with Ploughshare is providing amazing opportunities to develop our technology for wider applications. It also provides our scientists with personal and professional benefits by being involved in the commercialisation process which in turn has a positive impact on the whole IP creation process.”