The University of York is one of the beneficiaries of a £60 million investment in UK universities announced today by Business Secretary Vince Cable.
The £630,000 allocated to the University will help scientists and engineers create businesses from their research, improve industrial collaboration, and foster entrepreneurship.
Mr Cable announced the investment in a total of 31 universities during Global Entrepreneurship Week. The funding known as Impact Acceleration Accounts (IAA) comes from the Engineering and Physical Sciences Research Council (EPSRC), one of the UK’s main funding agencies for scientific research.
At York, the money will be used to support the University’s ‘pipeline’ of Intellectual Property through to commercial reality, to fund projects Engineering and Physical Sciences departments, and to broaden the engagement between scientists and business.
– Professor John Local, Pro-Vice-Chancellor for Research at York
We welcome the award of the Impact Accelerator Account which we shall use to increase the successful commercialisation of EPSRC-funded research. It will ease the transition from initial idea to commercial reality at a time when access to external sources of funding is increasingly challenging.
The IAA will also help us to broaden the scope of business engagement with EPSRC-relevant academic departments. We also want to support opportunities for researcher mobility across the academic-business divide.”