UK Research and Innovation (UKRI) has announced 48 projects from across the UK’s research base that will receive funding from a new £9 million proof-of-concept programme. The projects span medical applications, sustainability, space science, artificial intelligence and more.  

The Proof-of-Concept (PoC) fund was announced following a recommendation arising from the Independent Review of Spinouts (2023), which identified a gap in funding for innovation-based new venture creation. The high number of applications to the fund is a demonstration of potential in the research system and TenU – the international group of ten research intensive universities – has called for a much higher level of PoC funding as a result. Innovation-based companies help to grow the economy of the future and early-stage support is critical to securing future investment in order to scale and grow.  

KEUK commented: “Universities are working hard to create more opportunities for spinouts, including through ‘shared TTO’ pilots, regional alliances and dedicated venture funds. UKRI’s new PoC fund is a welcome and necessary addition to the ecosystem of support that is required to realise innovative products and services from the research base.”  

Read more and access the full list of projects here: https://www.ukri.org/news/48-projects-backed-to-turn-cutting-edge-research-into-businesses/ 

For more information on our Spinout Creation training, please click here https://ke.org.uk/national-courses/spinout-creation/