A former professional basketball player has been recognised at the Great British Entrepreneur Awards for “exceptional and inspirational” success.
The Scottish entrepreneur founded his business in 2020 in the depths of the coronavirus pandemic with no external funding.
Adam Pearce, founder and director of research and development tax credits specialist Minerva Innovation Group, was named Scotland Scale-Up Entrepreneur of the Year at an awards ceremony at London’s Grosvenor House this week.
Rutherglen-based Minerva has grown from a one-person operation run from the family home to a team of 10, and increased turnover by more than 200% since 2021. It expanded into Ireland this year.
Mr Pearce said: “It was an incredible honour even to be shortlisted alongside some of the UK’s most ambitious businesses and to be announced a winner was a slam-dunk moment I will never forget.
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“More importantly, it is recognition for my amazing team who have delivered exceptional growth whilst staying true to our core values of honesty, diligence and forward-thinking innovation. It’s proof that a people focus and high professional standards to deliver sources of R&D funding, namely tax relief, delivers results.”
Minerva’s R&D tax consultants deal mainly with small and medium-sized businesses. The firm’s diverse client base takes in veterinary medicine and livestock farming, racehorse breeders, architecture, construction and engineering firms.
Mr Pearce said: “Our expertise comes from understanding both the finance and the complex processes around research funding regulations.
“So many different businesses can benefit from R&D grants and tax relief without having to spend all their business hours on R&D. Short-term initiatives to improve the delivery of services or the development of goods also qualify if there is an ‘appreciable’ improvement. It is not limited to laboratories or scientists.”
Minerva noted its growth has been based on a “consultant-led approach focusing on sector expertise and not a sales-led strategy”, declaring: “It has led to 100% retained business.”
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