LONDON, March 10, 2011 /PRNewswire/ --
- Method Design Lab Brings Silicon Valley Expertise and the Creativity of the World's Foremost Design College Together to Develop up to 20 Innovations Each Year
Silicon Valley watch out! London has a new kid on the block. Method and Central Saint Martins (CSM) have come together to create Method Design Lab, a new business accelerator, which aims to bring up to 20 new British innovations to market each year.
Method Design Lab (MDL) combines the expertise of Method, a leading global design and innovation consultancy headquartered in San Francisco, and Central Saint Martins, one of the world's foremost design colleges, to deliver a unique model that will drive UK economic growth and innovation. The venture brings a radical new approach to developing ideas and is focused on developing world class, design-centric products, services and companies.
The development of MDL is testament to the UK's increasing focus on innovation and it will support London as it challenges traditional innovation hubs such as the US West Coast. Its model, approach and structure make the joint venture different to anything seen before in the UK.
Kevin Farnham, Chief Executive, Method said: "The new frontier in innovation is about design and user experience, not solely about technology. This is why we have come together with Central Saint Martins to develop the world's first accelerator that recognises this and is willing to invest the expertise and resources to build the brands, products and services that will shape our future. We recognise London is a hotbed of creativity and MDL is focused wholly on fulfilling the potential of that."
Professor Jane Rapley OBE, Head of College, CSM said: "Innovation is at the core of what we do at Central Saint Martins. Our students are some of the world's most creative, dynamic and ambitious. Through our partnership with Method we will uncover many ideas that may never have seen the light of day and develop, improve and commercialise them in a way that was not possible before."
Unlike other academic incubators MDL is driven solely through private sector investment. Investors have the opportunity to enter the MDL fund in order to acquire a share in the range of new ventures MDL will bring to market. This portfolio-based approach reduces risk and allows for a high level of return as MDL aims to launch up to 20 products and businesses each year. MDL will expand the fund through industry partners, angel investors, banks and high-net worth individuals that want to benefit from an Intellectual Property-based portfolio with good returns.
Santiago Matheus, Managing Director, Method Design Lab said: "By bringing together creative ideas with the right type of private capital and expertise we are uniquely placed to introduce some breakthrough concepts to the market over the next 12 months. We will be working with both partners and investors to ensure that great ideas don't just sit in the Lab but make it onto the market."
Note to editor: Photography is available on request.
Method Design Lab - http://www.methoddesignlab.com
SOURCE Method Design Lab