Derby Enterprise Growth Fund Support Paves Way For Future Business Growth For Entotem
A Derby company, which has developed an innovative high-tech home entertainment system, is planning further growth and job creation less than a year after its launch.
Entotem was supported with £80,000 grant and £150,000 loan from the Derby Enterprise Growth Fund (DEGF) earlier this year.
The Fund is part of the Government’s Regional Growth Fund and administered by Derby City Council. DEGF aims to provide a catalyst for growth and job creation in businesses in the city and surrounding area through a mix of loans and grants.
The DEGF funding package has enabled Entotem, based on Alfreton Road in Derby to launch its new Plato system. After a successful launch in February, Plato has already won three industry awards and is being sold in the UK and Germany.
Plato is a high specification hi-fi and home entertainment system which has revolutionised the recording and multiple streaming of music and video around the home.
With DEGF support, eight jobs have already been created at the company covering sales and marketing, customer support and production.
Entotem have plans for exciting product development in 2016 which will include creating a further 12 jobs in the city and expanding the customer base overseas, including the lucrative USA market.
The first new posts available are for a Finance Manager to provide accurate financial reporting and information and a Product Support Specialist to provide telephone and face to face technical support and assistance to both customers and partners.
Entotem Commercial Director Ian Grostate: “We wouldn’t be where we are now without the support of Derby Enterprise Growth Fund and we are delighted to be creating even more jobs under a year after the launch of Plato.
“The vision and support of Derby City Council has enabled us to become market-ready and we are already planning the next stage of our business growth with further production and sales jobs in the pipeline.
“Plato re-imagines home entertainment and represents more than ten man-years of research and development.
“By using industry standard protocols it is possible to stream your music and video around the home, to devices e.g. wireless speakers and tablets that people probably already own – maximising connectivity. This is a unique premium product with the potential to be a game changer.”
Among the latest recruits to Entotem are production technicians Byron Drew and Alex Celewicz.
Byron (31) from Oakwood said: “I had been looking for a new job and when I did some research into the company I could see the huge potential for Plato.
“It is great to be with a company on the ground floor and be part of the future growth.”
Alex (34) from Long Eaton is originally from Poland previously worked for a high street electrical company.
He added: “I am passionate about audio and electronics so working here was a fantastic opportunity.”
Derby City Council Deputy Leader and Cabinet Member for Planning, Environment and Regeneration Cllr Martin Rawson chairs the DEGF panel of industrial and financial experts who consider business applications.
He said: “Entotem is one of many success stories for DEGF which is one of the most successful schemes in the UK.
“The company reflects the entrepreneurial spirit that is so prevalent in this area and who add to our credentials as the UK’s number one high-tech city.
“Through DEGF, the city council has already supported 140 local businesses leading to the creation of 750 sustainable jobs and we are on track to achieve the 2,000 job creation target by 2020.”
The £20 million DEGF has already been administered to businesses in Derby and the surrounding area through grants and loans.
With around 65% allocated in loans, there will be £12.5 million due to be repaid to the Council over the next few years, there will be funds available to support more businesses’ innovation, expansion and job creation plans. Applications will therefore be accepted in early 2016 from businesses with growth plans.
To find out more about Derby Enterprise Growth Fund visit: www.derby.gov.uk/degf. Alternatively call 01332 641628 or email degf@derby.gov.uk .
Superfi Supports Plato
Among the latest stores to stock Plato is Superfi – a family owned Hifi and home cinema specialist business. The company recently installed the system for customer demonstrations and sales at its store on Sadler Gate in Derby’s Cathedral Quarter as well as in Nottingham and Lincoln.
Superfi Derby store manager Chris Hewitt explained: “This is a fantastic piece of kit which looks great and is easy to use.
“Plato is manufactured in Derby and we were keen to get it in the store here to showcase the innovation prowess of the city.
“I know it will be very well received by our customers who want premium products and particularly those who come to us to design and install bespoke entertainment systems in their homes.”
Entotem Commercial Director Ian Grostate continued: “We are delighted that Superfi have come on board to showcase Plato.
“The equipment is manufactured right here in Derby and it is very fitting that local music and film enthusiasts can see it in action on their doorstep.”