[Press and Public Relations] University Benefits From £10 Million Innovation Package



October 2001

No 158

The University of Leicester is to benefit from an award of 10 million for regional collaborative projects through the Government's jackpot to exploit innovation and expertise in higher education.

The e-funding was won with the support of the East Midlands Universities Association (EMUA), chaired by Professor Robert Burgess, Vice-Chancellor of the University of Leicester, who said: The region's universities have a strong track record in encouraging entrepreneurship and technology transfer to the world of business, and these funds will enable us to maximise this potential.

The wider implications of the funding have been welcomed by the East Midlands Development Agency (emda). Tony Kildare, Director of People Development and Business Growth at emda commented: This is excellent news for the East Midlands. The successful exploitation of university research potential is a key driver in regional and national economic growth.

The support comes from four separate awards under the Government's Knowledge Transfer/Exploitation Funding. The combination of initiatives funded by the bids will give a strong boost to the commercialisation of research at Leicester.

The Higher Education Innovation Fund award of 3 million will establish the East Midlands Incubation Network, supporting new businesses in the region through a strong network of support agencies. A wide range of businesses will reap the benefit, including pre-start and early stage companies, incubator and business support practitioners, research groups, private sector business professionals and investors. Universities involved are Leicester, Derby, Lincoln, Loughborough, Nottingham Trent and De Montfort.

Medici is the name given to a further 2 million Higher Education Innovation Fund award to the five East and West Midlands universities with medical schools Leicester, Nottingham, Warwick, Birmingham and Aston. It will be used to train and support academics wishing to be involved in knowledge transfer activities.

The Science Enterprise II award of 2 million is intended to develop entrepreneurship in science and technology in the region. Based at the University of Nottingham Institute for Enterprise and Innovation, the partner universities are Leicester, Derby, De Montfort, Loughborough, Nottingham Trent, Lincoln and University College Northampton.

The University Challenge award of 3 million will contribute to a 4 million investment fund to support the commercialisation of research activities at the partner universities of Leicester, De Montfort, Loughborough, Nottingham and Nottingham Trent. These institutions have a strong history of encouraging innovation with the infrastructures to enable successful commercialisation of technology and encourage high growth.

Note to editors: Further information is available from Mrs Kate Murray Commercial Contracts and Intellectual Property Manager, Research and Business Development Office, University of Leicester, telephone 0116 252 2696, facsimile 0116 252 2028, email cm95@le.ac.uk .


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Information supplied by: Barbara Whiteman
Last updated: 24 October 2001 14:58
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