UK and China join forces to secure commercial investment
The UK and China have launched a common initiative to help joint research teams commercialise their research results. Innovation China UK (ICUK) will fund 'proof of concept' research and development (R&D) projects with strong commercial potential. The funding will help joint UK-Chinese teams to develop and analyse options for commercialising their findings, thereby bolstering their chances of securing commercial investment. 'Such exciting research partnerships mark a potentially significant step in the capability of both our countries to boost knowledge transfer. With greater knowledge transfer comes a greater ability to innovate,' said UK Science and Innovation Minister Ian Pearson. ICUK brings together five British and over 10 Chinese higher education institutions. The relevant ministry from each country will put around €7 million into the funding pot. The funding will go to projects in the areas of energy, climate change, sustainable development, infectious diseases, biomedicine, drug discovery (including traditional Chinese medicine), nanotechnology, materials science and space technology.
Countries
China, United Kingdom