Chairman's Corner

Dr Richard Smith

The challenges faced by small companies in achieving the transition from invention to innovation, that is taking a new idea and converting it into a marketable and profitable product, are immense. To overcome them, these companies require assistance and guidance on diverse issues including technology, finance, strategic and resource planning, sales and marketing, and legal and IPR aspects. Among a broad range of technical and business support initiatives for Welsh companies, the Technium concept has a key role to play in providing ready access to a whole range of advice and facilities to nurture the early growth of high-tech start-ups.

The opportunity to develop and take part in a variety of networks is particularly valuable to these growing companies. Globally business activity is increasingly going through a transition to a "knowledge economy" where resources of expertise and knowhow are of higher importance than more traditional economic resources. In the high-tech arena knowledge or intellectual capital is crucial, and the Techniums provide an environment in which likeminded individuals can readily meet to exchange their thoughts and strike the sparks which can ignite new ventures.

And of course, as a complement and reinforcement to such networking activity, Materials Network Wales aims to provide a ready resource of materials knowhow to assist all Welsh companies to acquire and share the key knowledge that will assist in developing and maintaining global competitiveness. Regular readers of this Bulletin will have noticed that in the Spring issue Professor John Evans signed off after six years in the Chair of the Materials Network Wales Steering Group. It's good to have this opportunity to thank him for his extremely knowledgeable input to the Network in the planning of activities and events to support the materials using community in Wales, and to thank him for the unfailing courtesy and good humour with which he has conducted the Group itself. His will be a hard act to follow and we wish him well.