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Additional 48 research teams to be supported

ICURe’s focus is on training early-career researchers to find the right route to commercialisation and helping them develop the necessary business skills, connections and expertise. It aligns with government’s Industrial Strategy, which emphasises the importance of research, innovation and skills to develop a strong economy and ensure Britain leads the high-tech, highly-skilled industries of the future.

With this funding boost, the pilot programme will be able to support an additional 48 research teams nationwide.

University researchers can get up to £35,000 to take their ideas out of the lab and validate them in the market.

A total of £3 million of the funding will go towards helping the start-ups that emerge from the programme to establish their businesses and support future growth. This will be competitively awarded by Innovate UK.

It builds on the success of the pilot to date. Research estimates that for every £1 of investment spent through ICURe it generates almost £4 of economic benefits in return. The pilot has engaged 160 university research teams to generate more than 11,000 business links worldwide and create 120 jobs in 44 new companies.

Read the evaluation of the pilot programme so far.