Business founder raises concerns over support for UK innovation
The founder of a West Midlands branding consultancy has met with Saqib Bhatti, Conservative MP for Meriden and Solihull East, to raise concerns about the challenges facing founder-led businesses in the UK and the potential impact on the country’s future job market.
Lizzie Ingram, founder of Althea Creative, met with the MP to discuss the wider implications following the overnight collapse of Birmingham-based EV charging technology company Petalite - a business once seen as a promising innovator in the rapidly growing electric vehicle infrastructure sector.
The conversation focused on what the loss of high-growth, founder-led companies could mean for regional economies like the West Midlands, particularly in industries where the region has long-standing global expertise such as automotive engineering and advanced manufacturing.
Ingram said the closure highlighted questions around how the UK supports innovative start-ups and protects the intellectual property developed by domestic companies.
She said: “This was a company of 60 people, with real strategic importance — not only for the UK’s engineering and automotive industries, but especially for the West Midlands, a region known around the world for its heritage in these sectors.
“It’s incredibly heartbreaking to see a business I worked for since R&D days, when I was the twelfth person to join, with real passion and ambition to make the UK the birthplace of game-changing EV charging technology - to quite literally cease overnight, particularly when independent testing showed its innovation could rival European competitors.”
Ingram said the meeting also explored the broader role founder-led businesses play in job creation and innovation, particularly at a time when the UK is trying to strengthen its position in emerging industries such as clean technology.
She continued: “I recently read a UK Parliament report stating that small and medium-sized enterprises (SMEs) are the backbone of the UK economy.
“However, there is growing evidence that many are operating under significant pressure. Start-ups in particular report that their confidence is now ‘severely strained’ due to financial pressures and rising costs that are outpacing their revenue.
“But in the case of Petalite, the founder had already navigated the challenges of Covid-19, secured several Innovate UK projects, independently verified the technology, and attracted Series A investment from the United States and a customer was ready in the pipeline.
“When that investor withdrew the second half of the funding due to a change in their investment strategy, senior managers were left with just six weeks to secure new investment and leadership — an incredibly difficult position for any innovative company to recover from.”
She emphasised that while start-ups carry inherent risk, they are also responsible for creating new markets, developing new technologies and generating skilled jobs across the country.
“I’m aware that Petalite has now been purchased, and I sincerely hope it remains in the UK, a bonus is that it stays in the West Midlands and generates new jobs for skilled engineers and that it’s technology opens further opportunity for innovation in the EV industry.
“The worst outcome would be for it to leave our shores, taking with it the talent and intellectual property developed here.”
The discussion with Bhatti – a past president of Greater Birmingham Chambers of Commerce - formed part of a wider effort to ensure the experiences of entrepreneurs and founder-led businesses are better represented in conversations about economic growth and industrial strategy.
Ingram added that stronger support for innovative UK companies could help ensure that new technologies - and the jobs they create - remain rooted in regions like the West Midlands.
