Grant for R&D Case
Study - Adams Racing
Speedy overtaking
A company in Bath has overtaken thirty years of technology in
just three years. Adams Racing has devised a new way of producing
foam rubber tyres for model racing cars. It is a move that will
lead to the creation of new jobs in the area and a worldwide
profile for the company. However, without the help of a Grant for
Research and Development from the South West Regional Development
Agency, the project would never have gone ahead.
A new technology is born
Like his father before him, Richard Adams has
spent much of his working life in tyre manufacturing. Three years
ago, he took the decision to combine a lifelong interest in racing
car tyre technology with his polymer processing expertise and
formed Adams Racing. His idea was to develop a new technology for
manufacturing foam rubber tyres for use on nitro methane and
electric-powered replica racing cars.
Like their full-size counterparts, model
racing cars – which can travel at speeds up to 60mph and race on
both indoor and outdoor tracks - quickly wear out sets of tyres.
Richard was convinced that a new closed cell technology would offer
improved performance and wear-resistance, better grip and faster
lap times. However, he needed money to fund the project.
Bridging the funding gap
Richard approached the South West Regional
Development Agency (South West RDA) for a Grant for Research and
Development (Grant for R&D). The grant, which is administered
by the South West RDA, provides R&D funding for technologically
innovative products and processes and helps companies to bridge
funding gaps.
Richard explains: “the South West RDA agreed
to fund 60 percent of the research and development costs – around
£48,000 in total. This gave me the leverage to approach the bank
for a loan and, once they were satisfied that I had the Grant for
R&D in place, they provided the remaining funding. Without this
grant, there is no doubt that the project would not have gone
ahead.”
Richard used the money to develop a new method
of moulding individual tyres and bonding them onto the wheel of the
racing car using his own unique compound formulations. He also
designed a new type of plastic wheel with improved impact-
resistance and stiffness. The new product, called Gecko Tyres,
delivers a 5 percent improvement in lap times on outdoor surfaces
and a 10 percent improvement on indoor surfaces. In racing terms,
this is big news.
The product launch
Gecko Tyres were launched in 2007. Already
Electric Gecko tyres (designed for use on indoor tracks) have
proved themselves on the winning cars at the Stafford, Hereford
& Tamworth 1/18th Micro Nationals race. There is
considerable excitement about the product on internet chat forums
and Adams Racing expects to achieve a global presence within six
months. The tyres are manufactured in a small factory in Bath.
Within three years, employee numbers are forecast to increase
six-fold.
A learning process
Richard concludes: “The process of applying
for a Grant for R&D gave me the confidence to go ahead with the
project. Despite spending 20 years in the polymer processing
industry, I found I had a lot to learn. The application process
taught me to look at the whole project in detail and to break down
the expenditure into components. This was a fantastic discipline
and it prevented me from wasting money and helped me to plan the
research properly. I received fantastic support from Ranber Maan at
the RDA and, even after the project finished, he continued to
provide advice and encouragement. It was a very positive experience
and I hope to use the Grant for R&D again in the development of
products for other leisure markets.”