Exeter wins £3.2 million from EPSRC for new business opportunities

The three year project is expected to create up to three new companies and establish licensing activity with a number of third parties.

The project will utilise existing patented technology, developed from earlier research undertaken by QinetiQ and the University and develop it to a level where the ideas will attract external funding. The grant will support the appointment of an experienced entrepreneur employed to drive market-facing research and develop business plans which will then be used to gain third party investment.

Paul Tiltman, Head of Intellectual Property and Commercialisation, said ‘We are particularly delighted with this award as it will attract real new investment, create new businesses and new jobs for the UK. It also supports the University’s Science Strategy and our commitment to drive forward the knowledge base of the region and the country.’

The Engineering and Physical Sciences Research Council (EPSRC) is the UK’s main agency for funding research in engineering and the physical sciences. The EPSRC invests around £800 million a year in research and postgraduate training, to help the nation handle the next generation of technological change. The areas covered range from information technology to structural engineering, and mathematics to materials science. This research forms the basis for future economic development in the UK and improvements for everyone’s health, lifestyle and culture. EPSRC also actively promotes public awareness of science and engineering. EPSRC works alongside other Research Councils with responsibility for other areas of research. The Research Councils work collectively on issues of common concern via Research Councils UK. Website address for more information on EPSRC: www.epsrc.ac.uk/