As part of a national funding scheme which aims to convert the UK’s leading science schemes into good businesses, Loughborough University has received over £2million.
The ‘Impact Acceleration Accounts’ have been awarded by the Engineering and Physical Sciences Research Council (EPSRC). These accounts will provide the UK’s greatest physical scientists and engineers the support that they need to progress in their field by providing better collaboration with industry, whilst bridging the gap between the lab and the marketplace at the same time. All of this will then enable them to increase the creation of impact from their research.
The Pro Vice Chancellor for Enterprise at the University, Professor Steve Rothberg, has stated that: “Loughborough has a long record of working in partnership with business, public and voluntary organisations. This award will allow our staff to enhance those partnerships, and ensure that our research and innovation are finding effective solutions to the technical challenges faced by UK businesses.”
The £2,039,165 award to Loughborough is going to allow the engagement of companies with University research projects at an earlier stage, therefore allowing them to profit from the breakthroughs and knowledge that they produce.
When announcing the award, Business Secretary, 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 the market.”
Support will now therefore be given to increased numbers of Loughborough’s scientists and engineers who will be able to spend time within business and industry which in turn will enable them to advance their knowledge and skills before returning to the lab with a greater awareness of how companies operate and the challenges that they face.
The EPSRC chief executive Professor David Delpy has stated that: “The research we support is recognised as outstanding on the international stage. These Accounts aim to make a step change in the impact that has on society: generating new business opportunities which drive economic growth, creating better, more informed, public policy.”
