Pictured: TBAT Innovation director Matt Symonds, 2nd right, with colleagues: Sam Stephens, James Wheeler, James Purdy, Sam Perkins and Simon Parke in the grounds of Lockington Hall

At a gloomy time of cutbacks a business consultancy is celebrating after winning more than £1.2m of public money to help innovative companies.

TBAT Innovation, based at Lockington Hall, Lockington, near Castle Donington, Leicestershire, has won the grants since the start of the current financial year in April.

The money, 80 pc of which went to firms in the East Midlands, is to drive innovation through funding, research and development opportunities.

TBAT Innovation has secured grants worth £650,000 for three companies in Derbyshire, £230,000 for two Leicestershire firms, and £250,000 for one in Lincolnshire.

To qualify a company needs to have an innovative technology project relating to product or market development.

TBAT Innovation has secured millions of pounds in grants annually for the past few years, but with the demise of East Midlands Regional Development Agency that source had dried up.

Now the consultancy has tapped into a new pot of money that is available on a national rather than regional basis.

TBAT Innovation has project-managed the applications, which are decided on a competitive basis. The team's track record of experience over the last 10 years means they know their way around the process which can help them to the winning post.

And because TBAT Innovation does this work on behalf of the clients it saves them time and allows them to concentrate on their core work of developing their range of existing and new products.

There are three main grants - research and development, grants for specific projects, and European Union money. The R&D and EU grants are for small to medium enterprises. In all cases the finance does not have to be repaid.

Matt Symonds, one of TBAT Innovation's directors, said: "For some years the UK has lagged behind its European counterparts in technically pushing forward some industries, particularly in energy and advanced manufacturing.

"Now it's looking to support those British companies that are at the cutting edge of their fields.

"For the companies that qualify there is significant Government funding to help support their research and development and drive business growth. We are pleased to have helped gain funding for clients.

"It's expected that the money secured will not only increase companies' turnover and profit but also create jobs."

In addition to Matt, TBAT Innovation, which was established in 2002, is independently owned by two other directors, Sam Stephens and Simon Parke. The team is made up of individuals with a wide range of skills and knowledge through holding senior positions in Rolls-Royce, Bombardier, ABB, Alstom and Saint-Gobain.

Using an extensive range of contacts it has successfully worked with large and small companies in the aerospace, advanced manufacturing, nuclear, transport and renewable sectors ands their supply chains across the UK.