Yes, and the inference was that because Hammond was an investor in this company, this had a hand in them being given the grant by Innovate, therefore as it's Innovate who actually award the money, he was inferring that they are crooks.
As I said, Hammond should have declared his interest in the company, but in my opinion there is no suggestion at all that his shareholding influenced Innovate at all.
I know many people that work at Innovate, and know the process by which grants are made, and Hammond (or any MP) being a shareholder in the company would have had no influence at all. Stick with your dogma if you prefer though.