YORKSHIRE universities are receiving extra help to fund research work leading to new business start-ups.
Regional development agency Yorkshire Forward has invested £2.2m in 65 fellowships under its Yorkshire Enterprise Fellowship Programme.
Fellowships have been awarded to applicants from universities across the region working in three key disciplines of bioscience, chemicals and healthcare technologies.
Successful applicants will benefit from funding support of up to £10,000 to develop their science.
Assistance is also given to find investors and signpost other funding sources.
In addition to the financial help, Yorkshire Enterprise Fellowship Programme offers a unique package of support to Fellows for one year.
They have access to a support scheme with specialist commercial expertise, project management facilities and a tailored science and business development programme.
Yorkshire Enterprise Fellowship, which builds on the Bioscience Yorkshire Enterprise Fellowship scheme launched in 2004, began awarding Fellowships in March last year.
The programme of support will run for 30 months. When the scheme ends, it is hoped that a host of new science-based businesses will have been established, providing everything from medical devices to new drugs.
The scheme is backed by the Yorkshire Universities organisation, which is chaired by Prof Bob Cryan, vice-chancellor of Huddersfield University.
Jim Farmery, assistant director of business at Yorkshire Forward, said: “Yorkshire Forward encourages innovation and entrepreneurship at all levels across the region.
“The Yorkshire Enterprise Fellowship is designed to ease the route to commercial success for young scientists by providing them with an opportunity to change their bright ideas into marketable products.”
Yorkshire Forward is the regional development agency behind the economic regeneration of Yorkshire and Humber.
It aims to make a positive difference by investing in jobs, improving towns and cities, and in supporting businesses throughout the region.
During 2007-2008, the agency helped create or safeguard more than 25,400 jobs, assist more than 30,100 people improve their skills, create some 1,231 businesses and attract £1bn in investment to the region.
