The search is on for ‘would be’ entrepreneurs who want to turn their research ideas into a successful business.
The third RCUK Business Plan Competition is launched this week (Friday 1st June 2007) and is open to researchers from across the breadth of activity supported by the Research Councils (ranging from science and technology to the arts).
The competition provides researchers who have commercially viable ideas with the skills, knowledge and support needed to develop a first-rate business plan.
Minister for Science and Innovation, Malcolm Wicks, said:
“It is discovery that provides the starting point for innovation, but it is in developing the foundations for a product or service through a sound business strategy that leads to commercial success.
“These awards will help promising researchers develop the skills needed to take their ideas to the shop floor.”
All competitors will get business training and mentoring along the way and the winning team will also receive a cash prize to further their business idea. The final will be held in November 2008.
Speaking on behalf of the Research Councils UK, Professor Philip Esler said, “UK research in science, technology and the arts ranks among the highest in the world. The RCUK Business Plan Competition is an exciting way to showcase some of the most innovative research and help commercialise some of the best projects.”
Last year’s winning team Warwick Warp, a spin-out company from the University of Warwick, scooped a prize of £25,000. They developed a highly accurate fingerprint identification technology for use in personal ID cards, passports and access control systems. They are now starting their second round of fund raising to further develop the company.
The other finalists have also benefited greatly from the mentoring received during the competition and all have enjoyed further success with their business plans. Dr Valerie Ferro, leading the Strathclyde University team, said: “The data obtained in constructing the business plan was extremely useful in putting proposals to companies. We are also about to file a new patent thanks to the mentoring received whilst working on the business plan.”
Julia Short | alfa
How Strong Brands Translate into Money
15.11.2016 | Kühne Logistics University - Wissenschaftliche Hochschule für Logistik und Unternehmensführung
Demographic change depresses tax revenues
04.11.2016 | Fraunhofer-Institut für Angewandte Informationstechnik FIT
An important step towards a completely new experimental access to quantum physics has been made at University of Konstanz. The team of scientists headed by...
Yersiniae cause severe intestinal infections. Studies using Yersinia pseudotuberculosis as a model organism aim to elucidate the infection mechanisms of these...
Researchers from the University of Hamburg in Germany, in collaboration with colleagues from the University of Aarhus in Denmark, have synthesized a new superconducting material by growing a few layers of an antiferromagnetic transition-metal chalcogenide on a bismuth-based topological insulator, both being non-superconducting materials.
While superconductivity and magnetism are generally believed to be mutually exclusive, surprisingly, in this new material, superconducting correlations...
Laser-driving of semimetals allows creating novel quasiparticle states within condensed matter systems and switching between different states on ultrafast time scales
Studying properties of fundamental particles in condensed matter systems is a promising approach to quantum field theory. Quasiparticles offer the opportunity...
Among the general public, solar thermal energy is currently associated with dark blue, rectangular collectors on building roofs. Technologies are needed for aesthetically high quality architecture which offer the architect more room for manoeuvre when it comes to low- and plus-energy buildings. With the “ArKol” project, researchers at Fraunhofer ISE together with partners are currently developing two façade collectors for solar thermal energy generation, which permit a high degree of design flexibility: a strip collector for opaque façade sections and a solar thermal blind for transparent sections. The current state of the two developments will be presented at the BAU 2017 trade fair.
As part of the “ArKol – development of architecturally highly integrated façade collectors with heat pipes” project, Fraunhofer ISE together with its partners...
19.01.2017 | Event News
10.01.2017 | Event News
09.01.2017 | Event News
20.01.2017 | Awards Funding
20.01.2017 | Materials Sciences
20.01.2017 | Life Sciences