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
Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO
Europe's microtechnology industry is attuned to growth
10.03.2017 | IVAM Fachverband für Mikrotechnik
More and more automobile companies are focusing on body parts made of carbon fiber reinforced plastics (CFRP). However, manufacturing and repair costs must be further reduced in order to make CFRP more economical in use. Together with the Volkswagen AG and five other partners in the project HolQueSt 3D, the Laser Zentrum Hannover e.V. (LZH) has developed laser processes for the automatic trimming, drilling and repair of three-dimensional components.
Automated manufacturing processes are the basis for ultimately establishing the series production of CFRP components. In the project HolQueSt 3D, the LZH has...
Reflecting the structure of composites found in nature and the ancient world, researchers at the University of Illinois at Urbana-Champaign have synthesized thin carbon nanotube (CNT) textiles that exhibit both high electrical conductivity and a level of toughness that is about fifty times higher than copper films, currently used in electronics.
"The structural robustness of thin metal films has significant importance for the reliable operation of smart skin and flexible electronics including...
The nearby, giant radio galaxy M87 hosts a supermassive black hole (BH) and is well-known for its bright jet dominating the spectrum over ten orders of magnitude in frequency. Due to its proximity, jet prominence, and the large black hole mass, M87 is the best laboratory for investigating the formation, acceleration, and collimation of relativistic jets. A research team led by Silke Britzen from the Max Planck Institute for Radio Astronomy in Bonn, Germany, has found strong indication for turbulent processes connecting the accretion disk and the jet of that galaxy providing insights into the longstanding problem of the origin of astrophysical jets.
Supermassive black holes form some of the most enigmatic phenomena in astrophysics. Their enormous energy output is supposed to be generated by the...
The probability to find a certain number of photons inside a laser pulse usually corresponds to a classical distribution of independent events, the so-called...
Microprocessors based on atomically thin materials hold the promise of the evolution of traditional processors as well as new applications in the field of flexible electronics. Now, a TU Wien research team led by Thomas Müller has made a breakthrough in this field as part of an ongoing research project.
Two-dimensional materials, or 2D materials for short, are extremely versatile, although – or often more precisely because – they are made up of just one or a...
20.04.2017 | Event News
18.04.2017 | Event News
03.04.2017 | Event News
25.04.2017 | Physics and Astronomy
25.04.2017 | Materials Sciences
25.04.2017 | Life Sciences