Research cash

A new £6m fund has been launched in Yorkshire and Humber to support academic researchers, staff and students demonstrate the commercial viability of their expertise.

A joint venture between Yorkshire Forward and Yorkshire Universities, the new proof of concept fund aims to encourage more commercially viable research projects and ideas out of the laboratory and classroom, and into the marketplace by providing early stage funding to demonstrate ‘proof of commercial concept’.

Yorkshire Forward – the Regional Development Agency for Yorkshire and the Humber – have invested £3m in the fund as part of their drive to encourage more knowledge driven business start ups in the region, whilst Yorkshire and Humber’s 10 higher education institutions will also collectively provide £3m.

'In Yorkshire and Humber we are committed to creating more businesses that contribute to our economic growth and we know that there is a pipeline of ideas within our region’s universities that could create great businesses,' said Alex McWhirter, head of enterprise at Yorkshire Forward.