The University of Plymouth has launched a £200,000 funding programme for businesses as part of its continued support during the ongoing Covid-19 pandemic.
The Research and Development Solutions Fund is designed to stimulate industrial collaborations and knowledge transfer opportunities between researchers and businesses, and aiming to solve specific "business problems".
The £200,000 fund, delivered in partnership between the university’s Research and Innovation directorate, and Thomas Westcott Chartered Accountants, will also be a catalyst for enabling businesses to gain even greater access to the university’s facilities such as the COAST Lab, the Plymouth Electron Microscopy Centre and the Digital Fabrication Laboratory.
Adrian Dawson, director of Research and Innovation, said: “The Research and Development Solutions Fund is designed to stimulate industrial collaborations and knowledge transfer opportunities between university researchers and businesses.
“It will not only address specific and immediate issues and opportunities, but it will forge new relationships – and strengthen existing ones – resulting in longer term collaborations."
Grants of up to £20,000 will be available during two funding rounds opening in November 2020 and in March 2021 and the programme is open to businesses from any industry sector or geographic location in the UK.
The funds can be used to cover a variety of costs including academic research time to focus on a specific opportunity or challenge to a business; research time of the industrial partner; and access to specialist University facilities or equipment.
Professor Judith Petts, vice-chancellor of the University of Plymouth, said: “The Research and Development Solutions Fund demonstrates how universities can be engines for change in their communities, and drivers of R&D, knowledge exchange and ultimately, economic growth. This fund represents an investment in that collaborative dynamic, and demonstrates our commitment to the civic university mission.”
Part-funded through the European Regional Development Fund (ERDF), the Acceleration Through Innovation 2 (ATI2) project will run until the end of 2022 and support businesses in Cornwall and the Isles of Scilly looking to increase innovation, growth and productivity.
The project, also led by the University’s Research and Innovation department, aims to help companies across different sectors through one-to-one support, world-class research, consultancy and grant funding.
Although the funding boost arrived at a time of uncertainty due to the Covid-19 pandemic, ATI2 is committed to offering advice and guidance to those looking beyond the current crisis.
The latest award follows the success of the initial Acceleration Through Innovation (ATI) project, a £3million ERDF scheme which launched in 2017.
ATI engaged more than 580 businesses, awarded 48 innovation grants with a total value in excess of £1million and enabled 61 businesses to bring new products, services and processes to the market or their business.
To find out more about the Research and Development Solutions Fund contact enterprisesolutions@plymouth.ac.uk or call 0800 052 5600.
