BBSRC renews commitment to RSE Enterprise Fellowships
RSE Enterprise Fellowships funded by BBSRC encourage the development of new businesses building on previously funded BBSRC research.
The scheme has been renewed until 2018, with the option to extend it for a further two years.
Anne Fraser, RSE Awards Manager, said: "The BBSRC's commitment to the Enterprise Fellowship scheme has enabled many researchers to turn their ideas into successful businesses. The RSE is very pleased that the BBSRC will continue to support the programme over the coming years, and we look forward to working with our partners to help grow more innovative companies."
Dr Celia Caulcott, BBSRC Executive Director, Innovation and Skills, added: "BBSRC is delighted, alongside our partners RSE, to be able to continue to offer Enterprise Fellowships until at least 2018.
"BBSRC funds world class research, often with huge economic and social potential, and Enterprise Fellowships are a fantastic way to help entrepreneurial scientists translate their work from the lab out into the real world."
Fellows receive a year's salary, providing time to gain business skills and training to develop a full business plan; and access to mentors, business experts and professional advisors, in order to help grow their companies.
The next deadline for Fellowship applications is 27 April 2015.
Previous Enterprise Fellows have successfully spun out companies and attracted investment funding to commercialise their research.
Former Enterprise Fellow Dr Andrew Almond, who successfully spun-out a company, C4X Discovery Ltd (previously Conformetrix,) based on technology developed to determine the 3D shape of drug molecules, said: "The Enterprise Fellowship provided a very pragmatic introduction to the business world and, in particular, how to incorporate and run a small company for the uninitiated.
"It also gave me time and the advice needed to prepare a business plan, which is essential to kick-start discussions with private investors. By the end of the Fellowship we had secured seed corn funding and now the company we formed is listed on the London stock exchange.