New recession-busting voucher scheme for innovative businesses

New recession-busting voucher scheme for innovative businesses

PA 42/09

Businesses in the East Midlands and beyond are being offered a chance to fight the recession by linking up with experts at The University of Nottingham.

A new voucher scheme worth up to 5,000 for small or medium-sized businesses is being launched by the University’s Research Innovation Services. It’s aimed at increasing collaboration between local industry and academic researchers in the field of innovation. The ‘Business Innovation Vouchers’ will be given to companies who want to work with university staff to develop new products or processes through consultancy, service projects or research.

Successful applicants will be businesses mainly in the East Midlands who can demonstrate that they have a need or ambition which could be furthered or fulfilled by the expertise of members of staff within the University. It is primarily aimed at companies who are developing products or services that are relevant to the interests of current University research. The scheme is being run by the University’s Technology Transfer department which has up to 75,000 worth of vouchers to give away over the next two years.

Dr Bruce Venning, Commercial Manager of RIS Technology Transfer at the University, said: “It is vital in a recession that companies broaden their horizons and try to expand their product portfolio through high quality innovation. The vouchers will make this valuable collaboration more affordable at a time when businesses are nervous about investing in new projects.”

The University hopes the scheme will encourage more collaboration between industry and higher education in the long term, as well as providing an immediate recession-busting boost to local businesses. Potential applicants are encouraged to examine work of the different Faculties and Schools via the University of Nottingham website and the Expertise Database and

to search for ideas for relevant collaboration.

In some cases the voucher scheme may be linked with another scheme called Ingenuity, which can add a further 2,000 to the value of the consultancy and service projects. Businesses can receive vouchers with a value up to 75% of the project costs and preference will be given to those applicants whose projects may lead to further collaborations in consultancy, Knowledge Transfer Partnerships or research ventures.

Application forms for the vouchers can be obtained from:

Dr Bruce Venning
Research Innovation Services – Technology Transfer
The Sir Colin Campbell Building
University of Nottingham Innovation Park (UNIP)
Triumph Road

bruce.venning [a] (p) uk
+44 (0)115 846 7891

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