The UK Government has announced a £50m ($76m) investment to boost research and innovation in British institutions.
Sixteen schemes will take a slice of the investment, which the UK Government expects to lead to the creation of more than 500 companies, 1,200 products, 3,000 jobs, and contribute more than £3bn to the UK economy.
Key areas of support for the fund will include advanced manufacturing, clean tech, big data, agri-tech and life sciences.
Announcing the move, David Willetts, UK minister for universities and science, said: “Universities and colleges are vital to the UK’s economy. This extra £50 million will harness the potential for growth across the regions, focus on our world-class industrial sectors, and create a skilled workforce for the future. It will support cutting-edge innovation and research projects and keep us ahead in the global race.”