University spinouts to grow industries of the future with new government backing
Public sector is being primed to bring innovative ideas out of government labs and onto the market with 拢30 million backing and new guidance.
- 4 of the UK鈥檚 most exciting regional research clusters to grow their ideas into thriving companies and industries of tomorrow with 拢30 million government backing
- 拢30 million awarded to world-leading universities working with industry partners across Merseyside, East Anglia, Northeast England and the Midlands to grasp the opportunity to incubate and scale-up the businesses and jobs of the future
- Alongside, first-of-its-kind guidance priming public sector to bring innovative ideas out of government labs and into markets, pulling in the investment that鈥檚 vital for growth and job creation听to deliver on our Plan for Change
4 innovative UK hubs across Merseyside, East Anglia, the Midlands, and Northeast England will today (Friday 9 May) get fresh backing to grow more 鈥榮pinouts鈥�,听 innovative new businesses created from within research institutions.听
In turn creating new jobs, developing the industries of tomorrow and driving economic growth through the Plan for Change.
UK innovators have made great strides in getting bright ideas onto the market and in front of investors, but red tape, talent shortages and a lack of access to funding is holding back innovators from turning their ideas into viable growing businesses.听听
New 拢30 million funding will support a taskforce of world-leading universities and industry experts across the 4 locations to take advantage of this huge, and all-too-often untapped, opportunity.听听
It will support efforts to incubate and spin out new companies and create the most fertile and attractive environment for the brightest thinkers and entrepreneurs.
皇冠体育app government is also priming the public sector with first ever guidance to put groundbreaking ideas on the path to investment, becoming the next generation of businesses, creating a pipeline of innovative businesses emerging from the UK鈥檚 excellent public sector research landscape.听听
With step-by-step advice, a new generation of British R&D entrepreneurs in the public sector will be empowered with the tools and support they need to turn ambitious research into marketable products - and in turn unlock benefits from clean energy, to healthcare, and beyond.听
Announcing the news on a visit to Aston University, Science Minister, Lord Vallance said:听
皇冠体育app UK is home to some of the world鈥檚 best universities, and we have deep strengths from life sciences to cutting-edge fields like quantum and engineering biology. But we can and must do more to unlock scientific research鈥檚 vast economic potential, and to help our innovators world-leading public sector labs turn brilliant ideas into businesses that attract investment and sustain jobs.
皇冠体育app funding and guidance we are announcing today will reinforce those efforts 鈥� supporting our mission to grow the economy as part of the Plan for Change.
皇冠体育app 4 projects receiving funding from Research England听
Strategic Commercialisation Ecosystem North East (SCENE)
Based in the North East is receiving over 拢8 million over 5 years to strengthen and expand the region鈥檚 ecosystem, engaging businesses, sector bodies, Catapults and investors more actively in commercialising university research.听
Forging ahead/Forging beyond
Based in the Midlands鈥痠s receiving almost 拢10 million over 5 years to address the talent, expertise and skills gaps in the Midlands by creating a Talent Pool, inward investment champions and innovation networks. 皇冠体育app project will particularly target Heath, Advanced Manufacturing, Net Zero, and Creative & Digital sectors.鈥�
Biologics Regional Innovation and Technology Ecosystem (BRITE)
Based in Merseyside will get over 拢4 million over 3 years to establish a sustainable life sciences ecosystem, in the Liverpool City Region (LCR), focused on developing treatments like vaccines, by addressing gaps in the development of products and materials from living cells or their components, scale-up, and commercialisation.
It will strengthen collaboration between academia, industry, and civic partners to create a connected innovation ecosystem and accelerate the translation of biologics for antimicrobial resistance, infectious diseases, and emerging health challenges.
Agri-Tech Commercialisation Ecosystems (ACE)
Based in Lincolnshire and East Anglia鈥痺ill receive almost 拢5 million over 3 years to establish a world-leading, self-sustaining Agri-Tech research commercialisation cluster in Greater Lincolnshire and East Anglia, with support from Barclays Eagle Labs, Greater Lincolnshire LEP, New Anglia LEP, and Cambridgeshire & Peterborough Combined Authority plus commercial partners.听听
Ana Avaliani, Director of the Royal Academy of Engineering鈥檚 Enterprise Hub, said:
Industry Academia partnerships create the ideal setting for transforming groundbreaking research into spinouts, addressing real world challenges while fostering economic growth and creating pathways for talented researchers to become entrepreneurs. 皇冠体育appse spinouts drive innovation and represent a crucial and growing component in our economic future. Our 听report tracked UK university spinouts securing over 拢2.6 billion in funding, nearly 40% more than the previous year.
This welcome investment and new guidance from government will enhance support for these fledgling businesses as they face complex issues such as skills gaps and funding challenges. 皇冠体育appy will help foster strategic alliances that aren鈥檛 just beneficial but essential for maintaining competitive advantage in today鈥檚 innovation landscape.
Notes to editors
皇冠体育app Government Office for Technology Transfer (GOTT) is publishing 2 guides. 皇冠体育appy provide step-by-step advice on how public sector organisations can create spinouts.
皇冠体育app publications are:听
-
皇冠体育app Knowledge Asset Commercialisation guide contains overarching guidance for commercialisation including options for routes to be taken (licensing, spinouts, joint ventures etc)
- 皇冠体育app Knowledge Asset Spinouts Guide details the practicalities of the spinout route.听
皇冠体育app universities involved in the 4 projects
Project: Strategic Commercialisation Ecosystem North East (SCENE)
皇冠体育app universities involved are:
- Durham University (Lead)听听听
- Newcastle University听听听
- Northumbria University听听听
- University of Sunderland听听
- Teesside University听听听
Project: Forging ahead/ Forging beyond听
皇冠体育app universities involved are:
- Loughborough University (Lead)听听听
- Aston University听听
- University of Birmingham听听听听
- Birmingham City University听听听
- Cranfield University听听
- Coventry University听听
- Derby University听听
- De Montfort University听听
- Keele University听听听
- Leicester University听听
- University of Lincoln听听
- University of Nottingham听
- Nottingham Trent University听听听
- University of Warwick听听听
- University of Wolverhampton听听听
Project: Biologics Regional Innovation and Technology Ecosystems (BRITE)
皇冠体育app universities involved are:
- Liverpool School of Tropical Medicine (Lead)听听听
- University of Liverpool听听
- Liverpool John Moores University听听
- Edge Hill University听听听听
Project: Agri-tech commercialisation ecosystems (ACE)
皇冠体育app universities involved are:
- University of Lincoln (Lead)听听听
- University of Cambridge听听
- University of East Anglia听听
- Cambridge Enterprise
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