SMEs could access additional support funded by a $6.7m grant to the SetSquared enterprise partnership.
The SetSquared academic enterprise partnership has been allocated £5m ($6.7m) in government funding to support UK-based small and medium-sized enterprises (SMEs).
The capital will help establish a central SME hub to encourage commercialisation and research in four categories – digital innovation, health and wellbeing, advanced engineering and manufacturing, and environment, sustainability, marine and maritime.
SMEs will gain access to capital and expertise through the program, which is to be funded by the £100m Connecting Capability Fund (CCF) for greater cooperation between universities.
Launched in 2003, SetSquared’s members consist of the universities of Surrey, Bath, Bristol, Exeter and Southampton. CCF’s first four collaborative university projects were unveiled in October 2017.
Sean Fielding, director of innovation, impact and business at University of Exeter, said: “Now we can bring to bear the expertise and facilities of five major universities for the benefit of businesses.
“Exeter is taking the lead for the environment and marine sector across the whole of the south of England. This is recognition of our region’s strengths and the university’s expertise.”
Caroline Fleming, head of incubation at University of Surrey, added: “This new project is an opportunity to build on these relationships and work closer with businesses who have significant potential for transforming research excellence into positive economic impact within our area and beyond.”
