press release
Published: 22 July 2021

New funding will unlock further vital support for UKs growth companies

Research England has announced its support for SETsquared’s Scale-Up Programme for a further two years from the Connecting Capabilities Fund. Read Research England’s announcement.

More businesses will be able to unlock vital R&D investment support following the announcement of a two-year extension to the SETsquared Scale-Up Programme. Businesses in high-growth sectors such as health tech and sustainable tech will now be able to access expert support to raise public and private co-investment into their research and development and innovation.

The Scale-Up Programme has broken new ground by pooling the research talent from across six partner universities to create new research and development and innovation partnerships with high-growth businesses at the leading-edge of technologies including quantum technology, cybersecurity, precision medicine and zero-emission propulsion systems.  The Programme has already helped its 300 member companies secure £80m of investment in R&D partnerships with the SETsquared universities.

Stephen Mayers, Head of Scale-Up, SETsquared said: “We’re delighted with the news from Research England. There are so many great examples of successful R&D collaborations that have been established by the Scale-Up Programme. Oxford Brain Diagnostics was awarded funding by the National Institute for Health Research as part of a £1.4m collaborative R&D project that it is leading to assess its technology as a tool to identify and predict Alzheimer’s disease progression.  The Scale-Up Programme identified and linked the company with the appropriate academic expertise in Cardiff University’s and the University of Southampton’s Schools of Medicine and provided professional grant proposal development resources to help set up and secure funding for the project. This is a great example of the Scale-Up Programme in action – we support innovative companies to access pivotal funding which will accelerate their growth and development.”

Other examples of successful R&D collaborations which were supported through the Scale-Up Programme include:

All these new collaborations have received support from the Scale-Up Programme and will result in the commercialisation of new vital products and services which will transform healthcare, contribute to the race to net zero and shape our world post-COVID pandemic.

Simon Bond, Innovation Director, SETsquared says: “SETsquared has built a vibrant innovation ecosystem around our partner universities’ (Bath, Bristol, Exeter, Southampton and Surrey) globally competitive research talent and portfolios, with the very welcome addition of Cardiff University partnering on the Scale-Up Programme.”

“Over this next two years we will support a number of initiatives to grow our ecosystem by extending our partnership with the UK Business Angels Association to provide national access to angel investment, and with a new collaboration with the Northern Accelerator, to accelerate the growth of spin-out companies from our partner universities. We will also deliver on our ambition to establish a new venture capital fund to invest in the high growth companies from our region during this period.”

Companies seeking support to develop their R&D and innovations, can find out and more and apply for the Scale-Up Programme here.

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