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What Opportunities Can UK Universities Provide for Businesses?
According to recent research, it is estimated that UK universities will provide over £11.6bn worth of support, funding and services to start-ups and SMEs over the next 5 years. This includes specialist one-to-one advice, providing access to the latest research equipment and facilities to help push cutting edge innovation, training, provision of interns and graduates to help provide expertise in specific topic areas and partnerships that support the carrying out of bespoke research projects. A lot of this funding is backed by the UK Government either via Innovate UK funding or through regional distribution of the UK Shared Prosperity Fund.
In-House Support And Spin-Outs vs External Business Support
Before we go into detail about the specific types of funding and support that universities can offer businesses, there is an important distinction to be aware of in terms of eligibility when it comes to assessing opportunities available from different institutions. In many cases universities will have funding and support that is reserved for in-house and project activity only and it is usually kept separate from the opportunities available for businesses external to the university. The differences are outlined below.
i) In-House Business Support
This type of funding is specifically for projects set-up by individuals from the university itself. This can include start-ups set-up by students, graduates, researchers or other academics. A special type of start-up that has come directly out of a commercially viable research project known as a spin-out can occur where a business linked to the university is created in hopes of creating revenue. Businesses or individuals not linked to the university are not eligible for this type of business funding and support. It is worth mentioning as when evaluating opportunities from a particular university it is not always clear who can apply for the funding until you check the eligibility criteria on each scheme.
ii) External Business Support
This funding and support is provided to assist start-ups and small businesses within the local region of a university or to businesses across the UK that match research and innovation goals of the institute. As these types of opportunities are available to the wider business community in terms of eligibility, these are the schemes we are interested in matching businesses with and what we will focus on within this blog.
What Are Some of the Funding and Support Types That Universities Can Help Businesses With
Below is a list of typical funding and support types that are available across Universities in the UK.
i) Business Accelerator Programmes
These are programmes that provides start-ups and SMEs with opportunities to grow their business at a faster pace with the assistance of university expertise. Support can include mentoring, training, access to equipment and facilities to promote innovation, office space, access to collaboration opportunities and also grants and funding for essential activities and equipment.
ii) Internship Programmes
Businesses can get a funding subsidy in order to employ an intern either at student or graduate level for a number of weeks or months as part of a placement in order to support a business with a project where the intern has knowledge in a relevant area of academic expertise. Businesses will pay the remainder of the intern’s salary for the period of the placement.
iii) Apprenticeship Levy Funds Transfer
Universities can transfer some of their Apprenticeship Levy Funds for the current financial year in order to allow SMEs to provide apprenticeship training in their organisations when they would not normally have the financial means to do so. A low cost subsidised apprenticeship placement at a business can help them develop new recruits with on the job training.
iv) Help to Grow Management Programme
This is a Government backed scheme that provides management training courses across universities aimed at business leaders to help them utilise their full growth potential. There are multiple courses delivered by business schools across the UK a number of times a year, with up to 90% of funding subsidised for small businesses.
v) Innovation Vouchers
Businesses can apply for innovation vouchers from universities to get access to facilities and academic expertise to help deliver collaborative research and development projects across sectors with a high tech focus, such as AI, smart technologies or advanced manufacturing techniques.
vi) Knowledge Transfer Partnerships
Businesses can partner with a university and take on a graduate for a longer term project, typically lasting 6 months or more and receive financial support to access academic expertise from the institution as well as receiving a financial subsidy towards paying the wages of the graduate. The long term goal is to transfer knowledge and skills from academic institutions to small businesses.
vii) Innovation Grants and Loans
Some universities provide access to grants and loans that can help support businesses in their innovation activities for specific sectors where the university has an area of interest as part of their research. This financial support is typically provided alongside expert consultancy and mentoring to help achieve innovation goals.
viii) Net Zero Funding and Support
One specific goal for UK universities is to help businesses reduce their overall carbon footprint by becoming more energy efficient and carrying out measures that can help push the UK’s economy towards net zero. A number of grants and support measures are available from universities in advising businesses what steps they can take within their sector to become more efficient.
What Are Some Of The Current Opportunities Available from Universities?
i) Digital Innovation Support
Manchester Metropolitan University has a Centre for Digital Innovation aimed at collaborating with industry on innovative digital areas such as AI, cyber security, industrial digitalisation and immersive technology. They currently offer a support scheme where businesses can apply for access to academic experts, workshops and research and development services that can help with digital transformation and sustainable growth. This support is free to access for businesses and is fully funded by Innovate UK.
ii) Lancashire Universities’ Innovation Programme
The 3 universities in Lancashire, University of Central Lancashire, Lancaster University and Edge Hill University are providing access to an Innovation Programme funded by the UK Shared Prosperity Fund. The programme aims to support businesses based in Preston and Burnley with innovation needs, such as expert support from both academic and industrial consultants to aid the development of prototypes, product testing, student placements and access to laboratories and facilities.
iii) Derby Talent Programme
The University of Derby provides access to a scheme where businesses across the UK can apply to have a funded internship for a student or a graduate from the university. The intern can provide support with digital growth and will also apply their academic knowledge to solving real world business issues and problems in their area of expertise. There are a range of internship packages that are heavily subsidised and the university pays some of the intern’s wages for a period of between 80 hours total for project work up to a 9 months full time employed package.
iv) Go Digital Accelerator
Staffordshire University is offering a 16-week fully funded accelerator programme for businesses based in the Cannock Chase District Council area backed by the UK Government. Businesses can partner up with the university for an innovation project relating to topics such as robotics, 3D printing, AI, sensor technologies, internet of things, big data or 5G demonstrators. The programme will include the provision of a student or graduate innovation consultant who can support businesses with innovation advice, market research, feasibility studies, integrating new processes and technologies into a business and developing new products and services.
v) Watford Springboard Programme
The University of Hertfordshire is providing grants worth up £1,000 to local Watford businesses alongside a support programme that includes one-to-one mentoring and training. The funding and support aims to support businesses in developing new skills and working practices and also helping with processes for creating new products and services. The funding is backed by the UK Shared Prosperity Fund.
vi) Green Futures and Creative Tech for the South West of England
The SetSquared Partnership is a collaboration between the Universities of Bath, Bristol, Cardiff, Exeter, Southampton and Surrey and is an incubator supporting businesses in the South West of England. The incubator is providing fully funded support in 2 new schemes for green tech and creative tech businesses in the region who want to find academic partners for research and development, access support for raising funding for innovative projects and scaling business plans to achieve a profit.
How To Apply For University Schemes
Full details on how to apply for university schemes and the eligibility criteria is available on each individual scheme page. Different universities might specify support for the local regional area or a particular focus of innovation or industry sector business partners they are looking for. Any deadlines, funding amounts or how business support is funded and any required financial contribution from businesses will also be outlined on these pages. Interested businesses can speak to innovation managers based at universities who can guide them through requirements and eligibility criteria to see if the funding or support is a match with their needs and help them to apply. There are usually application forms and other supporting guidance available to download on scheme pages as well.
Want To Find The Latest UK University Opportunities?
If you want to see the full set of UK university grants and business support currently available, please visit https://getbusinessgrants.com/
