ÂãÁÄÖ±²¥ has been awarded funding to partner with the University of Hertfordshire in a new initiative that will speed up the commercialisation of Intellectual Property (IP) at both institutions. With a grant from the , the STREAMLINE project will combine resources to foster the creation of more spin-out companies, supporting the economic growth agenda and contributing to regional and industry development.
The collaboration will create a shared pool of expertise in commercialisation, with joint training and process efficiencies making the technology transfer system more effective - ultimately increasing the number of spin-outs at each University. STREAMLINE will accelerate the assessment of potential spin-outs and deliver a shared portfolio of investable proposals to investors.
“The entrepreneurial mindset we foster at Cranfield and our strong industry focus make this a really welcome initiative that builds on how we already support innovation,” commented Professor Leon A. Terry, Pro-Vice-Chancellor for Research and Innovation at ÂãÁÄÖ±²¥. “We have several very successful spin-out companies that have emerged from Cranfield such as WAAM3D, and know the positive technological and economic impacts they can have.”
Cranfield and the University of Hertfordshire are building on an existing relationship, as they already collaborate on major projects including the Healthcare Technologies Capability Connector and the £13.5 million Future Biodetection Technologies Hub.
Cranfield’s work in business engagement was praised in the most recent Knowledge Exchange Framework , which ranked it in the top 20% of its specialist grouping for IP and commercialisation. Cranfield has also committed to fully adopt the recommendations from an independent review of University spin-out companies, which identified best practices that support the growth of spin-out companies.
Further supporting enterprise and innovation, ÂãÁÄÖ±²¥ is one of eight research intensive universities in the Midlands that established a new investment company to accelerate the commercialisation of university spinouts and early-stage IP rich businesses in the region.
