Central Finance deal enables electronics firm to develop new HD product
A WORCESTERSHIRE electronics firm has been able to launch a new product after successfully attracting development funding.
HD Connectivity is an award-winning smart home electronics company based in Malvern. It has released a new multiroom HDTV system that is the first of its kind to be designed, developed and manufactured in the UK.
The development of the product was made possible after the firm was able to arrange a funding deal with Central Finance.
HD Connectivity, which designs or co-develops High Definition Multimedia Interface (HDMI™) connectivity and signal distribution products for homes and businesses under the brand name HDanywhere™, approached Central when it was looking for new investment.
Central agreed to support the firm by providing a funding package to facilitate research and development on the new system, which lets people connect their HDMI entertainment devices with up to eight HDTVs at the same time.
The funding package also helped HD Connectivity bring the manufacturing of its HDanywhere brand products back to the UK and enabled it to export to the USA, Australia and Canada.
Innovators in multiroom HDTV, long-distance signal extension, and HDMI-based products, HD Connectivity is the UK’s only developer of this type of video distribution technology. It produces around 2,500 single units per year and now export to countries located across five continents.
Chris Pinder, co-founder of HD Connectivity and HDanywhere, said: “Thanks to Central Finance we’ve been able to push boundaries with new technologies, expand into new markets (including America, Australia and Canada), and invest in further research and development. As a result of Central Finance’s support we have been able to increase export sales by 250% – a truly great achievement.
“Our new multiroom HDTV video distribution system is the first of its kind to be developed outside Asia and is proving to be popular with the American market due to its clever design, solid engineering and UK-based support.
“The ‘Made in Britain’ stamp is a strong endorsement of our product overseas, with clients recognising quality British engineering. Bringing the manufacturing of our products back to the UK from China lets us react to market conditions and feedback much quicker. We can now offer a better service and product, and in turn bring back jobs to the UK and boost the British economy.”
Steve Harris, Worcestershire LEP Business Growth Board Member and Director at Central Finance said working with the firm had been “a real pleasure”.
“Supporting businesses to invest and grow their services through funding is always rewarding, and it’s something we do daily at Central Finance, but this project is significantly interesting. Bringing back manufacturing to the UK from China and witnessing the birth of advanced technology in the Malvern Hills and not Silicone Valley in the USA is quite exciting,” he said.
Central Finance has worked with over 600 businesses in the last 12 months to raise more than £30m in grants and funding packages, creating new jobs and further investment in research and development, new technology, machinery, infrastructure, training and additional services.
