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
Corporate coworking as a driver of innovation
22.11.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO
Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)
MPQ scientists achieve long storage times for photonic quantum bits which break the lower bound for direct teleportation in a global quantum network.
Concerning the development of quantum memories for the realization of global quantum networks, scientists of the Quantum Dynamics Division led by Professor...
Researchers have developed a water cloaking concept based on electromagnetic forces that could eliminate an object's wake, greatly reducing its drag while...
Tiny pores at a cell's entryway act as miniature bouncers, letting in some electrically charged atoms--ions--but blocking others. Operating as exquisitely sensitive filters, these "ion channels" play a critical role in biological functions such as muscle contraction and the firing of brain cells.
To rapidly transport the right ions through the cell membrane, the tiny channels rely on a complex interplay between the ions and surrounding molecules,...
The miniaturization of the current technology of storage media is hindered by fundamental limits of quantum mechanics. A new approach consists in using so-called spin-crossover molecules as the smallest possible storage unit. Similar to normal hard drives, these special molecules can save information via their magnetic state. A research team from Kiel University has now managed to successfully place a new class of spin-crossover molecules onto a surface and to improve the molecule’s storage capacity. The storage density of conventional hard drives could therefore theoretically be increased by more than one hundred fold. The study has been published in the scientific journal Nano Letters.
Over the past few years, the building blocks of storage media have gotten ever smaller. But further miniaturization of the current technology is hindered by...
With innovative experiments, researchers at the Helmholtz-Zentrums Geesthacht and the Technical University Hamburg unravel why tiny metallic structures are extremely strong
Light-weight and simultaneously strong – porous metallic nanomaterials promise interesting applications as, for instance, for future aeroplanes with enhanced...
11.12.2017 | Event News
08.12.2017 | Event News
07.12.2017 | Event News
12.12.2017 | Physics and Astronomy
12.12.2017 | Earth Sciences
12.12.2017 | Power and Electrical Engineering