A specialist Portuguese "high growth" company has selected to open its first UK site at the Sheffield Bioincubator.
Tomorrow Options, a Portuguese microelectronics company, is opening its first subsidiary in the UK in Sheffield, thanks to the combined efforts of Yorkshire Forward, Creativesheffield, The University of Sheffield, Sheffield Hallam University, solicitors Wake Smith & Tofields and accountants Barber Harrison Platt.
Tomorrow Options is a spin-out company from the University of Porto in Portugal, whose core activity is the design and manufacture of innovative electronics devices, with an initial focus on medical applications. Their work in Sheffield will include the development of sensory equipment for people with diabetes.
Paulo Ferreira dos Santos, Chief Executive at Tomorrow Options, said: "Working with Creativesheffield, The University of Sheffield, Wake Smith & Tofields and Barber Harrison Platt reassured the team at Tomorrow Options that investment in Sheffield was the only choice. Their commitment and determination to the project has been second only to the staff at Tomorrow Options."
Wake Smith & Tofields and Barber Harrison Platt have been instrumental in the involvement of other local companies' connection to the scheme with Lloyds TSB also drafted in to provide banking facilities on the project.
Peter Rawlinson, IT and Commercial Partner at Wake Smith & Tofields, commented: "The project was incredibly interesting for us to work on, raising many of the legal challenges faced by overseas companies looking to relocate or expand in this region. Our dedicated high growth team draws on specialists from across all of our commercial disciplines and this is another success story for our team.
"Our relationships with the key organisations in Yorkshire have held us in an excellent position to refer work to other local firms. We are thankful to Creativesheffield and the University for the opportunity to tender and I believe both of these organisations demonstrate the very pro-active approach they've adopted to encourage new "knowledge based" business to our region. The collaborative approach we have undertaken has produced a very positive result in persuading Tomorrow Options' to choose Sheffield over its rivals. We hope the project brings longer term success for the region."
Creative Sheffield's Investment Manager, Philippa Hedley, said; "This project is a fantastic example of where a collaborative approach to business investment can work wonders for our city - involving both private and public organisations. Tomorrow Options CEO, Paulo Ferreira dos Santos, is keen to facilitate further investment in Sheffield from companies located in Portugal which is testament to the excellent work achieved by all parties involved in the deal."
Innovation Centres Manager at University of Sheffield Mark Sanderson added: "The last 4 months have seen 4 signings with the Bioincubator and another 4 international prospects considering options at the Kroto Innovation Centre. Sheffield is attracting global organisations to build their UK base, bucking the national trend and really putting the city on the map as a centre for business excellence."
Paulo Ferreira dos Santos concluded; "The Tomorrow Options board made the unanimous decision to open in Sheffield over a number of other UK options based on; the wide range of incubator accommodation and support services available in Sheffield; the quality of the universities' research strengths and the company's existing links to the graduation talent within Sheffield Hallam University."
