Funding for Heriot-Watt to support further industry collaboration

Heriot-Watt has received £1.18m funding allocated to the University to help to build on the University’s already strong links with business and industry.

The funding, which has been provided by EPSRC under their Impact Acceleration Account programme, is part of a £60m funding package announced made by Business Secretary Vince Cable and designed to help support universities’ best scientists and engineers to deliver greater collaboration with industry, bridge the gap between the lab and the marketplace, and help them become better entrepreneurs.

Impact Acceleration is designed to support the very early stage of turning research outputs into a commercial proposition, the ‘Valley of death’ between a research idea and developing it to a stage where a company or venture capitalist might be interested. It will also allow universities to fund secondments for scientists and engineers to spend time in a business environment: improving their knowledge and skills and returning to the lab with a better understanding of the way companies operate and the challenges they face.

Alan Miller, Deputy Principal (Research & Knowledge Transfer) at Heriot-Watt, said, “We are delighted to have received this funding which will be used to help support those trying to increase the Impact of their research.

“The funding will be allocated on a competitive basis to tie in with the University’s key strategic aims and builds on our £6.5m working with industry project which has, over the last three years, transfered knowledge and expertise to Scottish businesses, benefited the wider economy and fostered partnerships as well as creating 300 private sector jobs and supporting the development of 17 new companies through the Converge Challenge competition, run by the University.”

Launching the fund, which will provide a total of £60m to 31 universities across the UK, the Business Secretary 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 could be by establishing a successful, technology-driven SME like Space Syntax which I visited today.

“This investment I’m announcing today will help our leading universities become centres of innovation and entrepreneurship, generating commercial success to fuel growth.”

This investment will help Heriot-Watt to continue to work with industry and develop new technologies, some of which, as in the video below, has a direct impact on on people’s lives.

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