The University of Strathclyde has been awarded almost £1.4 million from the UK Research and Innovation’s (UKRI) Impact Acceleration Account (IAA) to help translate research into real world impacts.
Now in its tenth year, the IAA supports critical early-stage translation of UK research to real impacts, transforming public services, creating new jobs, attracting private investment and forging new partnerships with business and charities.
Strathclyde is one of 64 universities and research organisations across the country sharing a total of £118 million which is aimed at jumpstarting knowledge exchange, translation and commercialisation.
Funding allows universities to unlock the value of their work, including early-stage commercialisation of new technologies and advancing changes to public policy and services such as NHS clinical practice.
Professor Tim Bedford, Associate Principal, said: “We are delighted by the renewal of this funding which is helping our researchers to create new spinouts and form new partnerships with companies to develop their most exciting and innovative research ideas and activities into real-world impacts.
IAA funding has been at the core of many of our major industry centres and we look forward to developing even greater impacts across the Strathclyde Innovation Ecosystem with this new EPSRC funding.
UKRI Director of Commercialisation Tony Soteriou, said: “The UK is home to some of the brightest, most innovative and creative research teams in the world. They have the ideas and they have the entrepreneurial energy to create businesses and services that could turn sectors on their head.
“What they need, what every great commercial idea needs, is support in the critical early stages. The Impact Acceleration Account is the catalyst that allows projects to grow to the next level, attracting investment, forging partnerships and creating jobs.
“The breadth of UKRI allows us to work right across the UK’s world-class research and innovation system to ensure it builds a green future, secures better health, ageing and wellbeing, tackles infections, and builds a secure and resilient world."
The £118 million IAA investment over three years focuses on maximising impact, knowledge exchange, translation, and commercialisation potential within research organisations.
An important feature of the scheme is that it empowers research organisations themselves to use the funding creatively and responsively to react to emerging opportunities.
UKRI Chief Executive Professor Dame Ottoline Leyser said: "Research and innovation has the potential to improve people’s lives and livelihoods, rejuvenating communities across the UK and tackling global challenges. It is imperative that we harness that potential.
“The path between discovery and impact is not simple and so it is vital that we provide flexible support that allows talented people and teams, and world-class institutions to connect discovery to prosperity and public good.
“Our impact acceleration funding has a fantastic track-record in providing support that helps brilliant ideas become realities that make a real difference.”
Strathclyde has received IAA funding from the Engineering & Physical Sciences Research Council (EPSRC) to accelerate and advance the impact of our Engineering and Physical Sciences (EPS) research. For full details on the Strathclyde IAA, please visit the RKES Portal.