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NSRI to support companies get their technology off the ground

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Oilfield Technology,

The National Subsea Research Initiative (NSRI) is hosting its second annual Developers Day event on 15th September in a bid to further support companies to get their technology to market.

The session will feature a series of presentations outlining available resources and the support organisations, which can provide assistance with research and development, tax, funding and patenting.

Representatives from HGF Ltd, Johnston Carmichael, Burness Paull, Astrimar, and Simmons & Co will also take to the stage to provide an insight into the range of patent box schemes, R&D tax relief and collaborative industry agreements aimed at supporting the developer community get their technology off the ground. They will also offer advice on how to finance a new venture and secure investor support.

Dr Gordon Drummond, project director of NSRI, said: “The aim of the event is to inform the developer community of the support available to them as they progress their businesses. Important updates on legislative changes will be described, specifically changes to the treatment of R&D activities by HMRC and changes to the API standard for the qualification of subsea technology.

“We want to help break down the barriers for innovative developers as much as we can in the current market. Whether that is to make them aware of the funding and tax benefit schemes available, guide them through the steps to gaining patent protection or advising how and when to approach investors.

“There are some game-changing technologies currently under development and it’s our role to help ensure that nothing stands in the way of getting them to market.”

Dr Drummond will also provide an insight into the proposed new offshore test and development Centre in the UK, which is currently in the early planning stages. The facility, which could be in place by 2020, would enable supply chain companies both small and large to test and demonstrate their new technology as well as refine existing capabilities.

As the technology arm of Subsea UK, NSRI is the focal point for subsea research and development, bringing together industry, developers and academia to collaborate effectively to fast-track the introduction of new technology which will unlock the challenges facing North Sea fields and help the UK maintain its global position.

Adapted from a press release by David Bizley

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