Contract Extension

24 Jan 2006 07:01

Angle PLC24 January 2006 For Immediate Release 24 January 2006 ANGLE plc Contract Extension: Innovation Support Project with the London Development Agency ANGLE plc, the venture management and consulting company specialising in thecommercialisation of technology is pleased to announce that it has won acontinuation of the SME Innovation Support Project with the London DevelopmentAgency for a further two years. The project extension has a total contract valueof £2.2 million, of which £800,000 is ANGLE fees with the balance being grantsto companies and project expenditure. The contract extension runs from January2006 for 27 months. The extension of the SME Innovation Support Project, which is part-funded by theEuropean Regional Development Fund, builds on the successful delivery ofconsulting work provided by ANGLE to over 50 SME organisations. The aim is nowto work with over 150 companies to generate over 50 products, stimulatinginnovation within the London Objective area by providing easier access toexpertise, particularly from London's universities and research institutions. The Innovation Support Project also addresses local needs by increasingcompetitiveness of SMEs through improved innovation and technology assistance.Specifically, it aims to: • Raise understanding of innovation and the benefits it can bring to abusiness; • Help SMEs to identify innovation needs and opportunities; • Facilitate links to sources of innovation and knowledge and supportthe transfer and exploitation of knowledge; • Provide small scale grant funding to encourage SMEs to implement andexploit identified knowledge and innovation opportunities; • Encourage collaborative innovation and technology transfer betweenacademic and research institutions and business; • Build on the success of the current project to develop a pan-Londondelivery model. Andrew Newland, Chief Executive of ANGLE plc said: "We are delighted to have been awarded this significant contract extension,which highlights the success that we are presently experiencing in our UKconsulting business and strengthens our platform for ventures activity." For further information ANGLE plc +44 1483 295830Andrew Newland, Chief ExecutiveIan Griffiths, Finance Director Buchanan Communications +44 20 7466 5000Richard Darby, Suzanne Brocks, James Strong Note to editors: About ANGLE Founded in 1994, ANGLE is an international venture management and consultingcompany focusing on the commercialisation of technology and the development oftechnology-based industry. ANGLE creates, develops and advises technologybusinesses on its own behalf and for its clients. ANGLE operates from officesin the UK, the US and the Middle East. ANGLE is listed on AIM (AGL.L); further information can be found atwww.angleplc.com This information is provided by RNS The company news service from the London Stock Exchange