University Research Accelerator Recognized for Innovation in Start-Up Development

The University Research Accelerator, a collaborative effort between Loughborough University, the University of Leicester, De Montfort University (DMU), and Leicester Start-Ups, has been acknowledged for its innovative approach in the development of start-ups. This initiative focuses on creating accelerated pathways for the commercialisation of university intellectual property (IP), significantly impacting the region's economic and societal growth.

Collaboration and Initial Success

The accelerator began with 26 initial project teams, out of which 11 were selected for the final accelerator phase. From these teams, five spin-out companies are currently in development, showcasing the program's effectiveness in nurturing new ventures from academic research. The collaborative model driving this initiative is designed to boost regional economic and societal benefits, highlighting the importance of partnerships in fostering innovation.

VentureVersity, a key component of this collaborative effort, promotes regional cooperation for innovation. By strengthening the innovation ecosystem in Leicester and Leicestershire, the program aims to facilitate the commercialisation of research-led ideas, encouraging a robust start-up culture driven by academic insights.

Expansion and Regional Impact

Following its initial success, the program has expanded under the "Forging Ahead" initiative to include 15 universities across the Midlands. This expansion underscores the program's scalable impact and its potential to drive innovation beyond its original geographic scope. By involving a broader network of university partners, the program enhances its capacity to support the commercialisation of research, further strengthening the regional innovation ecosystem.

The practical toolkit developed through this initiative serves as a valuable resource for universities seeking to commercialise IP effectively. It provides a structured approach to transforming research into viable business ventures, facilitating the creation of start-ups that contribute to regional economic growth.

Advanced Industries in Colorado

In a related development, 34 companies in Colorado have been awarded grants through the Advanced Industries Accelerator Program. This program is designed to support the growth of advanced industries in the state, promoting innovation and commercialisation through federal recognition in areas such as quantum and clean tech.

Eight researchers have received funding for their projects, with grants available for proof of concept and early-stage capital for innovative technologies. Out of 110 applications received in this grant cycle, the selected projects are expected to fuel the creation of four new start-ups focused on cancer treatments and accelerating quantum innovation.

Global Recognition and Deep Tech Ventures

Imec, a research and innovation hub, has been ranked number one by UBI Global in the category of World Top Business Accelerator linked to a university. This recognition, announced on May 18, 2023, highlights Imec's longstanding commitment to supporting start-ups and spin-offs, particularly in the field of deep tech venturing.

Imec's achievement is notable as it is the first global number one ranking from a small region, marking a significant milestone in the organization's history. Over the past five years, Imec has successfully supported the creation of 27 new deep-tech ventures, solidifying its position as a leader in nurturing innovative start-ups.

The ranking, which assessed 109 programs from 56 countries based on over 50 parameters, reflects Imec's dedication to fostering an environment conducive to the growth of start-ups and spin-offs. This global recognition underscores the importance of supporting deep tech ventures that have the potential to drive significant technological advancements.

"The recognition of these programs illustrates the vital role that university-linked accelerators play in driving innovation and economic growth," said an industry expert.

Overall, these initiatives and recognitions highlight the crucial role of collaborative efforts and structured programs in accelerating the commercialisation of research. By fostering an ecosystem that supports the development of start-ups, these programs contribute to regional economic development and encourage the translation of academic research into practical, marketable solutions.