Academic venture gets £8.9 million backing

A “game-changing” academic programme aimed at bolstering business and education links has secured £8.9 million Government support.

The North East Strategic Commercialisation project has been backed by Research England. 

Bosses say the cash will help the venture – which is led by Durham University alongside Newcastle, Northumbria, Sunderland and Teesside universities – better unite businesses, public sector bodies and academic researchers to find “profitable solutions to pressing challenges”.

They add it will build on the Northern Accelerator spin-out programme, which helps turn academic ideas into commercial endeavours and marry research and development, licensing and further commercial activity with business partners.

Karen O’Brien, vice-chancellor and warden at Durham University, said: “North East England’s universities have a shared drive to ensure academic research benefits local communities, through creating new businesses and new and better jobs.”

The funding comes as the region’s five universities work together on the Universities for North East England (UNNE) project, which officials say will help drive economic growth, improve access to higher education and foster regional development.

Andy Long, vice-chancellor at Northumbria University, who represents UNNE on the North East Business and Innovation Board, added: “We are strongly committed to strengthening our economic and social impact through policy, advocacy and delivery activities. 

“We will be able to increase our impact across the region through this funding.”

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