Automotive start-up wins Minerva Pitch Up at this year’s Venturefest West Midlands

The man behind the wheel of a company that has developed the world’s first cloud-based simulation software for vehicle suspension and chassis development is the winner of this year’s hugely competitive Minerva Pitch Up competition.

Raoul Popescu-Ghimis, chief executive of RACE Solutions, was chosen as the winner of this year’s gruelling Dragons Den-style competition by an audience of entrepreneurs, innovators, and investors at Venturefest West Midlands 2025.

The annual festival of innovation is sponsored and co-organised by the West Midlands Combined Authority (WMCA), the Innovation Alliance WM, six universities, TechWM and the Connected Places Catapult.

After going head-to-head with five other finalists, Raoul emerged with £3,000 in prize money and a package of bespoke business support.

RACE Solutions was founded in 2020 and employs a core team of nine staff based in Stratford-upon-Avon with up to 20 in total supporting the start-up.

Raoul Popescu-Ghimis is the winner of this year's Minervia Pitch Up competition held at Venturefest West Midlands.

Raoul said: “The competition was really tough. It was the biggest audience I’ve had in my life, I was a bit emotional, but I have passion in what we do.

“I know we have a very strong business that creates a global impact in our niche industry and that has helped us to achieve this goal.

“Winning strengthens our position as leaders in the market and innovators that bring new technology to the industry. We are focussed on acquiring more clients and strengthening our partnerships and speaking with the right type of investors to help scale up our company.”

Richard Parker, Mayor of the West Midlands, said: “Innovation has been driving our region’s economy for 200 years. It’s in our DNA.

“I’m backing Raoul, and his fellow finalists in this year’s Pitch Up competition, all the way as they follow in the footsteps of pioneers James Watt, Ernst Starley and the Cadburys.

“The new funding I’ve secured as part of my 'Growth for Everyone' plan will fuel innovation, create jobs, and drive our economy into a new era of prosperity.”

The Minerva Pitch Up competition is run by the Centre for Growth at Aston University, University of Birmingham Enterprise, and Minerva Business Angels, part of the University of Warwick Science Park.

Also chosen to pitch for this year's prize on the day were Avid Health, LeicSurvey, PortalZero Ltd, WasteProjekt, and Neo Air Ltd.

Kate Angel, head of business support operations at the Centre for Growth at Aston University, said: “Pitch Up brings many innovative and ambitious companies together each year. What a year this was!

“In our 10 years partnering with Minerva Business Angels, Warwick Science Park, and University of Birmingham Enterprise, we’ve built a strong, successful competition that benefits applicants year after year.

“We’ve received over 500 applications, supported over 300 business leaders, and proud that half of our winners over the decade are female. We're supporting them to foster innovation and gain investment.”

Now in its 10th year, Venturefest West Midlands provides a platform for entrepreneurs, innovators, and investors to share ideas and explore opportunities for collaboration, with a focus on science and emerging technologies.

Around 500 people enjoyed panel discussions, workshops and an exhibition of innovative products at Eastside Rooms in Birmingham throughout the day.

This popular event was backed in 2025 by headline sponsors British Business Bank, intellectual property investment bank Piece Future, the European Capital of Innovation West Midlands Partnership, and Medilink Midlands.

For more information see the Venturefest West Midlands website.