Surrey welcomes Government investment in science innovation
Wednesday 21 November 2012
The University of Surrey is one of a number of leading higher education institutions to be awarded a proportion of the £60m investment from the Government to help turn best science ideas into good business – creating successful companies, growing industrial collaboration, and fostering more entrepreneurship.
The funding comes from the Engineering and Physical Sciences Research Council (EPSRC), the UK’s main funding agency for scientific research. Known as ‘Impact Acceleration Accounts’, the University will receive c£1.46m, which will support the very early stage of turning research outputs into a commercial proposition. The funding will also allow Surrey 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.
Professor Steve Williamson, Vice-President and Deputy Vice-Chancellor, Research and Innovation at the University of Surrey, comments: “We are delighted to receive an Impact Acceleration Account (IAA), which recognises the value of the pioneering research we are carrying out here at the University of Surrey. This follows on from Surrey’s successful EPSRC Knowledge Transfer Account (KTA) of £3.85m, one of only twelve universities to receive such an award.
We are very excited about the opportunities the IAA gives us as it will enable us to work with UK industry and manufacturers to take research out of the academic environment, to solve problems that industry is facing and work together to give the UK a competitive edge.”
The Business Secretary Vince Cable made the announcement during a visit to the London studios of university spin-out company Space Syntax, an SME which uses advanced urban modelling techniques to design better cities and public spaces in the UK and overseas such as the redevelopment of Trafalgar Square and the replanning of Jeddah in Saudi Arabia.
Media Enquiries
Peter La, Press Office at the University of Surrey, Tel: +44 (0)1483 689191, or Email mediarelations@surrey.ac.uk
