Engineering Enterprise Fellowship Victory for Xmoor's Founder
Oscar Festa, a University of Southampton alumnus, has recently secured follow-on funding from the Innovation-to-Commercialisation of University Research (ICURe) program. This achievement is a significant milestone for Festa and his company, Xmoor, as he has also been awarded an Enterprise Fellowship by the prestigious Royal Academy of Engineering.
The Royal Academy of Engineering Enterprise Fellowship is a coveted award designed to support engineers in developing their business ideas and becoming successful technology entrepreneurs. To be eligible, applicants must demonstrate technical excellence combined with entrepreneurial ambition, have a clear business idea or technology with commercial potential, and provide evidence of capability and commitment to developing the business.
Festa's Xmoor utilizes innovative proprietary software tools for concept screening in the floating offshore wind moorings sector. These tools provide more efficient designs and enable customers to focus on 'real engineering', resulting in significant cost savings. Festa expresses his gratitude for the Academy's support, stating that the fellowship will provide a strong foundation for Xmoor's future growth in the critical net zero sector.
Alice Iles, Head of Tech Acceleration at the University of Southampton, expresses her excitement for Festa's success and Xmoor's growth. She highlights the university's strong record of supporting successful RAEng Fellowship applications, with several alumni founders receiving RAEng Enterprise Fellowships in recent years. These include Iris Kramer, founder of ArchAI, Ryan Beal, co-founder of Sentient Sports, Federico Romei, founder of OhmSpace, and Henry Harrod, co-founder of Fourier Audio.
The fellowship typically provides a salary replacement for the period of the fellowship, mentoring support from experienced entrepreneurs, and access to a network of investors and business advisors. It is intended to bridge the gap between invention and successful enterprise formation.
Interested individuals can book a Drop-in session with the University of Southampton's team to discuss the fellowship. Applications for the Enterprise Fellowship are considered by a panel of entrepreneurs, investors, and Fellows of the Royal Academy of Engineering. Shortlisted candidates may be invited for interviews or presentations.
The Royal Academy of Engineering is one of the UK's four national academies, focused on promoting excellence in engineering. In addition to the Enterprise Fellowship, it provides advice to Government, furthers engineering education and innovation from research, and recognises excellence.
For more detailed information about the Enterprise Fellowship, it is best to consult the Royal Academy of Engineering’s official Enterprise Fellowship webpage or contact their Enterprise Hub directly. Individuals or organizations interested in supporting the University of Southampton's aspiring founders or investing in them can contact [email protected].
- Oscar Festa's Xmoor, which focuses on innovative software tools for the floating offshore wind moorings sector, has received follow-on funding from the Innovation-to-Commercialisation of University Research (ICURe) program and an Enterprise Fellowship from the Royal Academy of Engineering.
- The Royal Academy of Engineering Enterprise Fellowship is a competitive award, designed to support engineers in developing their business ideas and becoming successful technology entrepreneurs, by providing a salary replacement, mentoring support, and access to a network of investors and business advisors.
- Festa's Xmoor, with its efficient designs and focus on 'real engineering', is expected to experience significant growth in the critical net zero sector, thanks to the fellowship's support and the fundraising from the ICURe program.
- To be eligible for the Royal Academy of Engineering Enterprise Fellowship, applicants must demonstrate technical excellence combined with entrepreneurial ambition, have a clear business idea or technology with commercial potential, and provide evidence of capability and commitment to developing the business.
- Applications for the Royal Academy of Engineering Enterprise Fellowship are evaluated by a panel of entrepreneurs, investors, and Fellows of the Academy, and interested individuals are encouraged to book a Drop-in session with the University of Southampton's team to discuss the fellowship, or visit the official Enterprise Fellowship webpage for more information.
