Loughborough University
Leicestershire, UK
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30 October 2006 PR 06/123

Enterprise Fund launched to accelerate commercially promising projects

The University’s first ever Enterprise Fund has just been launched to accelerate the progress of projects exhibiting exceptional commercial potential.

It is administered by the Intellectual Property Office (IPO) that works alongside Loughborough University Enterprises Ltd (LUEL) to help the University’s staff and students identify, protect and exploit the commercial potential of their ideas.

Jo Derbyshire, head of the IPO and managing director of LUEL comments, “The launch of the Enterprise Fund reflects the significant commercial potential at the heart of so much of the University’s research.” She continues, “Here at IPO / LUEL we want to do all we can to boost the progress of the most exciting projects. We hope that this excellent new initiative will encourage more staff and research students to consider the commercial value of their work, and get in touch as early as possible for guidance and support.”

Awards will normally be granted up to the value of £15,000 although in exceptional circumstances this may be increased up to £20,000. The award will provide the funding and support to enable projects to accelerate their commercial development through the achievement of an agreed milestone(s). Typically awards will be granted for activities that will make a step change to the project such as feasibility studies, intellectual property (IP) protection costs, market research, business planning, additional staff support or independent commercial assessments.

The award is granted following a two-stage application process. During the first stage applicants must submit a brief Expression of Interest. If they are successfully short-listed they will then be asked to submit further information regarding their project for the consideration of the Intellectual Property Advisory Group who will act as judges.

The closing date for submission of Expressions of Interest is Thursday 23 November.

All applicants are advised to discuss their entry with a member of the Intellectual Property Office prior to submission. Please contact, Thor Slater (01059 228687, email T.Slater@lboro.ac.uk).

ENDS

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Notes to editors

Loughborough has an established reputation for excellence in teaching and research, strong links with industry, and unrivalled sporting achievement. Assessments of teaching quality by the Quality Assurance Agency place it in the top flight of UK universities; the National Student Survey ranked Loughborough equal first among full-time students; and industry highlights the University in its top five for graduate recruitment. Around 40% of Loughborough’s income is for research, and 60% for teaching. The University has been awarded five Queen's Anniversary Prizes: for its collaboration with aerospace and automotive companies such as BAE Systems, Ford and Rolls Royce; for its work in developing countries; for pioneering research in optical engineering; for its world-leading role in sports research, education and development; and for its outstanding work in evaluating and helping to develop social policy-related programmes.

In 2006 Loughborough celebrates the 40th anniversary of its University Charter, awarded on 19 April 1966 in recognition of the excellence achieved by Loughborough College of Advanced Technology and its predecessor Colleges. Loughborough University of Technology was renamed Loughborough University in 1996.


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