Science & Enterprise subscription

Follow us on Twitter

  • New post on Science and Enterprise: Microrobot Swarm Breaks Up Bacterial Biofilms #Science #Business
    about 26 mins ago
  • After Pentagon Ends Contract, Top-Secret Scientists Group Vows To Carry On ... "We're very…
    about 14 hours ago
  • Hospital, academic, and industry researchers devised automated techniques including artificial intelligence to shar…
    about 18 hours ago
  • New post on Science and Enterprise: A.I. Speeds Infant Genetic Disease Diagnostics #Science #Business
    about 18 hours ago
  • A neuroscience lab created a virtual speech-generating vocal system that produces natural sounding human speech by…
    about 23 hours ago

Please share Science & Enterprise

Follow by Email
Visit Us

U.K. Devotes £60 Million for Science Entrepreneurship

Currency dice (MD4 Group/Flickr)The Engineering and Physical Sciences Research Council or EPSRC in the U.K. is funding 31 projects at British universities to encourage scientists to become new or better entrepreneurs. The £60 million ($US 95.3 million) program was announced today by Vince Cable, U.K.’s Secretary of State for Business, Innovation and Skills.

Under the program, EPSRC is offering what it calls impact acceleration accounts, ranging in size from ranging from £600,000 to £6 million. The funds are expected to encourage collaboration with industry, bridge the gap between the lab and the marketplace, and help scientists and engineers become better entrepreneurs.

Examples of activities supported by the grants include entrepreneurs in residence at Queen’s University Belfast, where experienced entrepreneurs are paired with university scientists to accelerate the time between scientific discovery and identifying a market opportunity. Another impact acceleration account, this one at University College London, will help small start-up companies in London developing digital products and services to test their offerings and gain customer feedback.

Other grants are expected to support short-term assignments of scientists and engineers to businesses to improve their knowledge and skills, returning to the lab with a better understanding of the way companies operate. While the official announcement said an objective of the impact acceleration accounts was to turn research outputs into commercial technologies, it gave no indication of direct support, such as venture financing, for individual companies or entrepreneurs at U.K. institutions.

Business Secretary Cable made the announcement at Space Syntax, a small company in London offering technical services for urban planning in the U.K., U.S., China, and Saudi Arabia. In the following video, Secretary Cable tells more about the impact acceleration accounts to an ITV reporter.

Read more:

Image: MD4 Group/Flickr

*     *     *

Please share Science & Enterprise ...

1 comment to U.K. Devotes £60 Million for Science Entrepreneurship