Scottish Funding Council provides £2 million to boost university spinouts

A partnership of three universities, the project will benefit every university in Scotland as part of the wider Innovation Scotland strategy.  Led by Edinburgh Research and Innovation at the University of Edinburgh, a core group of three regional university ‘hubs’, based at Edinburgh, Aberdeen and Strathclyde, will offer a structured suite of complementary enterprise support services to local campuses, such as one-to-one advisory clinics, workshops, mentoring, and support in raising finance.
This new project aims to capture the greatest strengths from company formation services across Scottish universities to form an enhanced offering allowing more universities to contribute to the sector’s outputs.
Exploiting the untapped potential in creating high-value knowledge-based companies across the whole region will generate a step change in performance and create an engine for economic growth in Scotland, as Grant Wheeler, ERI’s Head of Company Formation, comments;  “The economic need for Scottish universities to improve and accelerate the company formation process is clear.  This initiative provides an opportunity to share valuable expertise and resources in the highly-specialised area of high-value knowledge-based company formation to produce more sustainable companies, from the Scottish university sector.  The proposal is workable because it builds on what is already happening around Scotland.
At present, the support mechanisms for this activity are highly variable at institutional and regional level.  This new initiative will address this variability and ensure that all high value company formation projects at universities participating in the pilot project are optimally supported.”
The project will focus on high-value start-up projects led by PhD and Masters-level students.  Experience at the University of Edinburgh suggests that this group contains entrepreneurs with the genuine potential to create companies of scale based on more market-ready knowledge and technology. However, they are often overlooked as they can be too complex for existing enterprise support functions available.
Exploiting the untapped potential in creating high-value knowledge-based companies across the whole region will generate a step change in performance and create an engine for economic growth in Scotland, as Grant Wheeler, ERI’s Head of Company Formation, comments;  “The economic need for Scottish universities to improve and accelerate the company formation process is clear.  This initiative provides an opportunity to share valuable expertise and resources in the highly-specialised area of high-value knowledge-based company formation to produce more sustainable companies, from the Scottish university sector.  The proposal is workable because it builds on what is already happening around Scotland.
At present, the support mechanisms for this activity are highly variable at institutional and regional level.  This new initiative will address this variability and ensure that all high value company formation projects at universities participating in the pilot project are optimally supported.”
The project will focus on high-value start-up projects led by PhD and Masters-level students.  Experience at the University of Edinburgh suggests that this group contains entrepreneurs with the genuine potential to create companies of scale based on more market-ready knowledge and technology. However, they are often overlooked as they can be too complex for existing enterprise support functions available.universities to form an enhanced offering allowing more universities to contribute to the sector’s outputs.
Exploiting the untapped potential in creating high-value knowledge-based companies across the whole region will generate a step change in performance and create an engine for economic growth in Scotland, as Grant Wheeler, ERI’s Head of Company Formation, comments;  “The economic need for Scottish universities to improve and accelerate the company formation process is clear.  This initiative provides an opportunity to share valuable expertise and resources in the highly-specialised area of high-value knowledge-based company formation to produce more sustainable companies, from the Scottish university sector.  The proposal is workable because it builds on what is already happening around Scotland.
At present, the support mechanisms for this activity are highly variable at institutional and regional level.  This new initiative will address this variability and ensure that all high value company formation projects at universities participating in the pilot project are optimally supported.”
The project will focus on high-value start-up projects led by PhD and Masters-level students.  Experience at the University of Edinburgh suggests that this group contains entrepreneurs with the genuine potential to create companies of scale based on more market-ready knowledge and technology. However, they are often overlooked as they can be too complex for existing enterprise support functions available.universities to form an enhanced offering allowing more universities to contribute to the sector’s outputs.
Exploiting the untapped potential in creating high-value knowledge-based companies across the whole region will generate a step change in performance and create an engine for economic growth in Scotland, as Grant Wheeler, ERI’s Head of Company Formation, comments;  “The economic need for Scottish universities to improve and accelerate the company formation process is clear.  This initiative provides an opportunity to share valuable expertise and resources in the highly-specialised area of high-value knowledge-based company formation to produce more sustainable companies, from the Scottish university sector.  The proposal is workable because it builds on what is already happening around Scotland.
At present, the support mechanisms for this activity are highly variable at institutional and regional level.  This new initiative will address this variability and ensure that all high value company formation projects at universities participating in the pilot project are optimally supported.”
The project will focus on high-value start-up projects led by PhD and Masters-level students.  Experience at the University of Edinburgh suggests that this group contains entrepreneurs with the genuine potential to create companies of scale based on more market-ready knowledge and technology. However, they are often overlooked as they can be too complex for existing enterprise support functions available.universities to form an enhanced offering allowing more universities to contribute to the sector’s outputs.
Exploiting the untapped potential in creating high-value knowledge-based companies across the whole region will generate a step change in performance and create an engine for economic growth in Scotland, as Grant Wheeler, ERI’s Head of Company Formation, comments;  “The economic need for Scottish universities to improve and accelerate the company formation process is clear.  This initiative provides an opportunity to share valuable expertise and resources in the highly-specialised area of high-value knowledge-based company formation to produce more sustainable companies, from the Scottish university sector.  The proposal is workable because it builds on what is already happening around Scotland.
At present, the support mechanisms for this activity are highly variable at institutional and regional level.  This new initiative will address this variability and ensure that all high value company formation projects at universities participating in the pilot project are optimally supported.”
The project will focus on high-value start-up projects led by PhD and Masters-level students.  Experience at the University of Edinburgh suggests that this group contains entrepreneurs with the genuine potential to create companies of scale based on more market-ready knowledge and technology. However, they are often overlooked as they can be too complex for existing enterprise support functions available.

Posted on Tuesday, 30 September 2014