The most entrepreneurial engineering researchers working in the UK are being offered the chance to receive Fellowships worth up to £85,000 each.
The Royal Academy of Engineering Enterprise Fellowships are prestigious awards that provide funding and support to outstanding business-minded researchers, from all branches of engineering, to enable them to develop the commercial potential of their work.
In addition to the 12-month full-time funding, which includes salary, training will be provided along with the support of experienced engineering business experts, drawn from the Academy’s 1,500-strong Fellowship. These business mentors will not only provide valuable advice, but also open doors to entrepreneurial and venture capital networks for the Fellowship recipients.
Applications are now open for the Fellowships, which will begin in spring 2012. The shortlisted applicants will give a 15-minute pitch to a panel of successful engineers and business leaders, which will judge the submissions on the effectiveness of the technology, commercial credibility, proposed route to commercialisation and the expected benefits to the UK economy.
Ian Shott CBE FREng, Chair of the selection panel, who last year sold the business he founded for £13m, said: “The engineering world is full of business-minded individuals who are working on research and development projects which could become the commercial success stories of tomorrow.
“These Enterprise Fellowships are highly valuable and will give these researchers the opportunity to take their products into the marketplace. The scheme has all the merits of business angel funding, but without the entrepreneur having to give up a share of their company in return. The benefit to the Academy will be helping the UK to recover its economic health by turning great ideas into commercially successful products and services.”
For full details on the Fellowships, eligibility criteria and how to apply, please visit:
Deadline for applications is 21 October 2011.
Notes for editors
The Royal Academy of Engineering
Founded in 1976, The Royal Academy of Engineering promotes the engineering and technological welfare of the country. Our fellowship – comprising the UK’s most eminent engineers – provides the leadership and expertise for our activities, which focus on the relationships between engineering, technology, and the quality of life. As a national academy, we provide independent and impartial advice to Government; work to secure the next generation of engineers; and provide a voice for Britain’s engineering community.
For more information please contact
Ed Holmes on 0207 766 0655