Elektro Magnetix, a Brighton-based electric motor design specialist, has started the year at full speed by winning a £45,000 Department of Trade and Industry (DTI) Smart award.
Smart is a Small Business Service initiative that provides grants to help individuals and small and medium-sized enterprises to make better use of technology and develop technologically- innovative products and processes.
The company, founded in 1995, has won the award to help fund the development of an innovative cooling technology.
Managing director Eddie Wearing said the project was important because properly-cooled electric motors could be made bigger and more powerful.
At present, their size is limited due to cooling problems.
Mr Wearing said the awards were essential to help companies develop the new technologies needed to compete in the world market.
He said: "Our clients want new technologies but many of them no longer maintain their own research departments, so they are turning to specialists like us."
Smaller engineering companies were under particular pressure from bigger rivals with hefty research budgets and large-scale manufacturing facilities.
He said: "The big engineering companies can design and build anything, from commodity products to the specialist designs previously built by smaller niche manufacturers.
"We deal with companies which turnover between five and ten million pounds. One of the best ways for them to compete is to go deeper into specialist markets by innovating further.
"Many people do not bother applying for funding. Although Smart funding has been increased, there has not been many applications from down here."
Mike Herd, executive director of the Sussex Innovation Centre, said: "The South-East is the most successful region of England at winning Smart awards, but this excludes Kent and Sussex."
The success of companies receiving the awards was phenomenal.
"Investors and banks love Smart awards because they know how thorough the DTI checks are. If the DTI shows confidence in a business, other investors have more confidence about providing funding."
Mr Wearing said: "On the back of the Smart award, our prospects are looking stronger than ever. We can view the year ahead with confidence and hope to double our turnover."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article