Four new businesses to be set up from university-led projects to date
A Scottish universitys nanotechnology research project has started to deliver significant results for the business community.
Working in partnership with industry, the University of Glasgow has funded 20 research projects in the past 12 months in the field of nanotechnology which will lead to four new businesses being set-up.
Last year, it was awarded s3.1 million from the Engineering and Physical Science Research Council to create a Knowledge Transfer Account (KTA) to encourage closer collaboration between industry and the world-renowned research being carried out at the university.
In its first year of operation, just over s1 million of KTA money has been committed to 20 projects 16 in partnership with industry and four focussed on the formation of new high technology businesses.
The projects have explored subjects such as applying optical devices and digital camera technology to create high precision equipment that can accurately measure distances thousands of times smaller than the width of a human hair, and a world-leading model for predicting future performance of miniature transistors in silicon chips.
The KTA runs until 2012, and it will now broaden its scope to support industry collaboration with academics across the whole of the College of Science and Engineering.
Dr Neil Bowering, KTA manager, said: For the first time, the KTA gives us the flexibility to respond to the dynamic needs of business in a way that suits them, so that they can build on our initial research and turn ideas into new profitable businesses.
With public finances stretched so tightly at the moment, our KTA project is the ideal vehicle to create real value for Scottish companies and the wider economy by helping turn great ideas into solid businesses.