LimitState lay good foundations for the future
Published: 23rd September 2008
An innovative engineering software company is building solid foundations for the future, thanks to investments totalling £75,000.
LimitState Ltd, based in Sheffield, received Seedcorn investments from South Yorkshire Investment Fund (SYIF) to help them develop their ground-breaking geotechnical engineering software – LimitState:Geo.
LimitState:Geo allows geotechnical engineers – of whom there is a real shortage in the UK - to use a single, simple to use software application to analyse any type of stability problem, whether this involves retaining walls, slopes or foundations.
Geotechnical engineering involves the investigation and assessment of earth materials. It involves tasks such as the design of foundations for buildings, assessment of the stability of sloping ground and monitoring of site conditions.
Matthew Gilbert, Managing Director of LimitState Ltd said: “Geotechnical engineers require extensive specialist knowledge but too few are currently being trained, creating a major skills shortage. However, LimitState:Geo can play a part in alleviating this.
“Traditionally geotechnical engineers have had to rely either on a plethora of hand calculation techniques, or on complex software packages, but LimitState:Geo provides a much simpler and straightforward program that can rapidly solve any type of stability problem.
“This potentially reduces the amount of training newly qualified engineers need before becoming productive. Also, the speed with which problems can be set up and solved frees up time for experienced engineers to focus on other aspects of the design process.”
The original £50K Seedcorn investment back in December 2007 was for new product development, with a further £25K investment in May 2008 which is going towards the development of a similar software application for use by structural engineers.
Matthew said: “SYIF have been a huge help. Their investments have helped us move forwards and create revolutionary products. Without their help we wouldn’t be where we are today.”
Peter Pridham, Investment Manager at SYIF said: “LimitState Ltd are a great example of a South Yorkshire business using technology to break down barriers. LimitState:Geo is a revolutionary product which will transform the geotechnical engineering sector and SYIF are delighted to have played a part in its creation.”
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).