Pictured above: Lord Stafford

A prestigious awards competition which celebrates the very best of innovation by companies and universities is on the look-out for 'innovative' businesses in the East Midlands.

The Lord Stafford Awards, which enters its third year in the region, promises to be even bigger in 2010 and offers cash prizes of £5,000 in three categories.

By bringing together the wealth of excellent research and development work produced by universities and businesses of all types and sizes, the Awards seek to generate increased competitiveness and knowledge transfer.

The 2010 Awards - backed by the East Midlands Development Agency and the ten East Midlands Universities - were officially launched by patron Lord Stafford and take place at a high-profile ceremony at Athena in Leicester on Thursday September 9th.

The categories are 'Innovation in Development', 'Innovation Achieved' (sponsored by Leicester and Leicestershire Leadership Group) and 'Innovation for Sustainability' (sponsored by Enterprise Europe Network). 

Awards Patron Lord Stafford said: "The Awards are now established in the East Midlands and last year highlighted some truly excellent examples of companies linking up with universities to turn great ideas into reality. 

"These included a company manufacturing a revolutionary device to find life on mars to new eco-buildings for disaster hit countries and a groundbreaking global satellite device.

"It is a perfect opportunity to showcase how the region has forged ahead in terms of innovation and collaboration, linking businesses with our world-class universities to encourage knowledge transfer and deliver innovative products, processes and services.

"I would urge any company in the East Midlands that has worked with one or more of the region's universities to enter the Lord Stafford Awards - in these challenging economic times, investing in innovation and seeking to be unique is more important than ever."

Brian Conway, Chairman of the Awards steering group, said: "The quality of entries for last year's event was extremely high and we are determined to go even further this year. 

"Innovation is something that is vital to the economy of the East Midlands and the Lord Stafford Awards is an excellent opportunity to showcase everything that is great about our region's ingenuity."

Closing date for applications is 29th April 2010 and companies can enter by filling in the online nomination form at www.thelordstaffordawards.co.uk. 

Other sponsors for the evening include CFE, Connect Midlands, epm: technology ltd, Swindell and Pearson and the Enterprise Europe Network.

The latter, which is the European Commission's official business support network, is tasked with helping organisations to undertake knowledge based international business and focuses on the exploitation of innovative products, processes and services that seek to reduce environmental impacts and prevent pollution. 

Steve Shorthouse, Midlands Director for Enterprise Europe Network, concluded: "It is widely acknowledged that the exploitation of innovations from universities and research intense companies is seen as key to the expeditious recovery and prosperity of the region. Midlands Enterprise Europe recognises the significance of the Lord Stafford Awards in celebrating these achievements."