More money for innovation
19 January 2004
The Natural Environment Research Council (NERC) has been awarded £600,000 to commercialise some of the research it funds. The money comes from the highly competitive Public Sector Research Exploitation (PSRE) fund.
Said Dr Jane Metcalf, Head of NERC's Commercial team, "I'm delighted that NERC has once again succeeded in its bid for this funding. Following so fast on the heels of the DTI's Innovation Review, the award is doubly welcome. We are very pleased that our efforts in contributing to the UK's economy have been recognised."
She adds, "the money will be used to identify research ideas and projects that might become a marketable product or service. We already have a team of 'exploitation scouts' looking for commercial possibilities so the new money will be a huge help in developing their work."
Two years ago NERC received £600,000 from the PSRE fund to begin its commercial process and build up a dedicated team. With help from the scouts, the team has already successfully started a number of projects along the commercialisation route. They expect some of them to begin new lives as spin-out companies during the next year.
Further information
NERC Press Office
Natural Environment Research Council
Polaris House, North Star Avenue
Swindon, SN2 1EU
Tel: 01793 411561
Mob: 07917 557215
Notes
1. The PSRE fund was established as a response to the Baker Report (August 1999) on realising the economic potential of public sector research establishments. Second round awards worth £15m were available for organisations to develop science and technology exploitation and support the commercialisation of research.
2. Three other research councils have also been successful in their bids for PSRE funding. They are the Biotechnology & Biological Sciences Research Council, the Particle Physics & Astronomy Research Council and the Council for the Central Laboratories of the Research Councils.
3. NERC has additional funding of £1·7m from other sources for its commercialisation work.
Press release: 01/04
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