New Scheme Aims To Boost Entrepreneurialism In Acadamia

I wrote recently about the benefits of having better cooperation between academia and industry, with MIT researchers highlighting the benefits they derived for their research when they ventured out into industry.

Most of the time, this involves academics heading out into industry, but a new program from the Royal Society wants to encourage the flow of entrepreneurs into academia.

The entrepreneur is in residence

The Entrepreneur in Residence scheme is designed to encourage closer links between academia and industry to not only promote better research, but also to smooth the flow of that research into industry.

The Royal Society believe a number of barriers exist to prevent effective collaboration at the moment, including better translation of academic research, an improvement in entrepreneurialism within universities and an improvement of the skills of graduates to better meet the needs of industry.

“The UK has an outstanding track record of industry innovation. To ensure we continue to have world-class industrial research in our knowledge-driven economy, we must stimulate the flow of ideas and skills between academic research, industry, businesses and the wider community is crucial to future prosperity. We are delighted to announce the Entrepreneur in Residence scheme and we are looking forward to supporting talent that can transform innovative ideas into commercially successful products and services,” the Royal Society say.

There will be 10 successful applicants in the initial round, and they will be required to help in a number of ways, whether it’s the development of courses for students in cutting-edge technology, mentoring students about working in industry, or even in helping students create startups of their own.

They will receive £40,000 over a two year period to support them, with the first round of successful applicants announced on the 20th March 2018.  It’s expected that applicants will spent approximately 20% of their time in a university during their tenure.

To apply visit the Royal Society website at the link above.