UK research to benefit from scientific knowledge transfer funding boost...
British universities and hospitals are to benefit from 120 million pounds - around 190 million euro - of funding to help transform scientific knowledge into business success. The largest proportion of the funding, roughly 67 per cent, will go to support interaction between universities and business and the wider community. Some 12.5 per cent will help to provide entrepreneurial education to science and engineering students. The same amount will be used to provide access to seed funds to assist the translation of research results into successful business. About eight per cent of the money will used to enable public sector research institutions to exploit their science and technology potential and access funding for the commercialisation of their research. Announcing the awards on 1 October, UK trade secretary Patricia Hewitt said: 'Our universities and other research facilities play a vital role in providing Britain with a highly qualified workforce, and it is essential we have the links necessary to turn new ideas and technology into prosperity and jobs.' The awards have been made as part of the UK Government's 'knowledge exploitation funding' programme. Each project submitted for funding was assessed by an independent board chaired by Dr John Taylor of the Office of science and technology. Dr Taylor said: 'The world class research base in the UK has long been acknowledged. All of the winning institutions announced today have huge potential to encourage innovation through the transfer of their knowledge and expertise to the world of business.' Previous winners of such funding include a project to develop a glucose monitor for diabetics and to create a 3D body scanner to help shoppers find clothing that fits.