The N8 universities have received total funding of £12.5m to help scientists and engineers create successful businesses from their research, improve collaboration with industry and foster greater entrepreneurship.
The “Impact Acceleration Accounts” were announced yesterday (15 November) by Business Secretary Vince Cable. The funding comes from the Engineering and Physical Sciences Research Council (EPSRC), the UK’s main funding agency for scientific research. The awards have been made to 31 UK universities and are worth a total of £60m.
Vince Cable said: “The UK’s scientists are some of the most innovative and creative people in the world, but they need support to take their best ideas through to market. This investment I’m announcing today will help our leading universities become centres of innovation and entrepreneurship, generating commercial success to fuel growth.”
Read more about Impact Acceleration Accounts here.