Supporting Business Resilience Through Product Innovation. Inside Hymid’s Growth Journey with IMPACT Torbay.

Studio Zao is proud to support Hymid through the IMPACT Torbay programme, funded by the UK Government’s UK Shared Prosperity Fund (UKSPF). The initiative helps local businesses build resilience, unlock innovation, and drive sustainable growth. This is Hymid’s journey.

Overview

Hymid, a successful local SME, has built its reputation by providing high-quality subcontract plastic injection moulding services for the medical, instrumentation, consumer, and electronics industries. However, as a manufacturer that does not own the intellectual property (IP) of the products it produces, the company’s success has been heavily reliant on the performance of its customers' products. This dependency exposed the business to external market fluctuations, impacting both revenue stability and staffing levels.

To reduce this vulnerability and secure long-term growth, Hymid made the strategic decision to develop and market its own product: a robust, custom plastic hard case/toolbox. This represented a significant shift in its business model —owning a product for the first time, rather than solely providing manufacturing services. However, launching a new product comes with challenges, including securing funding, protecting intellectual property, and developing a route to market. Recognising these hurdles, Hymid engaged with the IMPACT Torbay programme to gain support in refining its business strategy and accessing critical funding.

How IMPACT Torbay Helped

Through Innovation Bootcamps, Hackathons, and Accelerators, as well as 1-2-1 Innovation Labs, we empower businesses to reimagine their value, connect with local communities, and drive solutions that contribute to regional economic success. Our goal is to ensure that innovation isn’t just an abstract concept but becomes a practical, scalable driver of business and community progress.

Register design rights internationally – Protecting their intellectual property in the UK, EU, and USA, opening doors to new markets while safeguarding against potential competitors copying their design.
Invest in energy-efficient production technology – Funding contributed to the purchase of an additional compressed air dryer, significantly improving production flexibility, efficiency, and helping reduce Hymid’s carbon footprint.
Drive sales and market expansion – The hard case has successfully entered the European and US markets, setting the stage for future growth and further innovation.

The Results

Since completing the programme and securing grant funding, Hymid has achieved substantial commercial success with its hard case product:

£50,000 in new sales within Europe in Q4 alone
First order for the US secured (£15,000), with further expansion expected
Forecasted increase in annual turnover by £330,000 as international demand grows
Job security and expansion, with existing roles safeguarded and additional staff expected to be hired to meet increased production demands
Improved productivity and sustainability, thanks to investment in cutting-edge, energy-efficient drying technology

A Transformative Experience

For Hymid, the IMPACT Torbay programme was more than just a funding opportunity; it provided essential strategic support and space to refine their business approach. As Managing Director Tom McMurtrie noted:

“The programme allowed us to step outside of the day-to-day operations and look at the business strategically. The tools and frameworks provided helped us refine our approach, ensuring that we prioritised actions that would deliver tangible results.”

“The ability to focus on one achievable goal—launching our first own-product—was crucial. The support and structured approach of the programme helped us navigate challenges and make confident decisions, ultimately securing funding and driving real business growth.”

Looking Ahead

The hard case launch has not only been a commercial success but has also equipped Hymid with the skills and experience needed to explore future product development opportunities. The company now has a proven framework for innovation, a broader market presence, and a more resilient business model—positioning them for continued success in an evolving economic landscape.

Through the IMPACT Torbay programme, Hymid has demonstrated how SMEs can drive meaningful growth by investing in innovation, securing funding, and strategically entering new markets. Their success story serves as an inspiration for other businesses looking to reduce market dependency and build a more sustainable future.