British businesses are brimming with bright ideas.

Now companies developing and investing in exciting innovations with commercial potential are set for deserved recognition in the 2013 Examiner Business Awards.

The Innovation & Enterprise Award – sponsored by the University of Huddersfield – celebrates new ideas, processes, products, services, technologies and applications that have had an impact on an organisation’s success.

Judges will be looking for originality of the innovation, its impact, practicality of its application and the measurable benefits to the business.

A machine tool manufacturer building on its proud history to stay at the forefront of its sector won the award last year following its investment in new assembly and test facilities and the latest computer-aided design and analysis software.

Brighouse-based Asquith Butler, which has been making machines tools since 1865, focuses on bespoke “state of the art” multi-axis machines to meet the ever-increasing demands of modern manufacturing.

The company, which operates from modern purpose-built assembly and test facilities at Brookfoot, uses the latest computer-aided design and analysis software to provide complete design solutions.

It also specialises in full turnkey bespoke engineered projects manufactured to exacting standards for customers in the aerospace, automotive and general engineering sectors in the UK, Europe and across the globe.

Asquith Butler also offers a refurbishment and retro-fitting service on the firm’s older machines and offers customers the most cost effective options for upgrading their existing plant. This includes spares and servicing for thousands of machine installations worldwide.

The company’s products can help customers reduce their costs by cutting down on non-productive set-up and workpiece movements, improve finished component accuracy by allowing complete machining in one clamping, reduce machine tool footprint and improve overall capability and performance.

Category sponsor the University of Huddersfield is an inspiring institution that prides itself on the quality of its research, teaching, business services and facilities.

A spokesman aid: “In keeping with our civic and technical heritage, we are proud to develop and maintain strong links with regional commerce and industry.

“The university’s research activity provides fertile ground for the generation of innovative opportunities with commercial potential and our graduates are amongst the most entrepreneurial in the UK with many high profile successes.

“As ourselves the recent recipients of three prestigious national awards – the Times Higher Education Award Entrepreneurial University of the Year, two Queen’s Awards for Enterprise and Guardian ‘Inspiring Leader’ Award – the university is delighted to sponsor the Innovation and Enterprise Award to celebrate new ideas, processes, products, services, technologies and applications which have had an impact on an organisation’s success.

“This award reflects the university’s vision for the 3M Buckley Innovation Centre, inspired by Prof Liz Towns-Andrews, the recipient of the Queen’s Award for Enterprise Promotion and 3M Professor of Innovation.

“The 3M Buckley Innovation Centre is a unique environment to support spin-in and spin-out companies linked to the university to foster growth and economic regeneration within Huddersfield and the region.”