Vince Cable launches Impact Acceleration Accounts at UCL spinout
Business secretary Vince Cable has launched a £60 million investment in UK universities during a visit to UCL spinout company Space Syntax. The Impact Acceleration Accounts, of which UCL is the second largest recipient at a value of nearly £4.5 million, have been established to make it easier for university research to be applied in the real world and help boost the economy.
The announcement came during a recent tour of Space Syntax’s London studio to meet staff and hear about the company’s work in the UK and overseas. Tim Stonor, Managing Director of Space Syntax, presented the company’s current work in China, Saudi Arabia and the United States, as well as in London and Birmingham.
The grant, one of 31 awarded to universities across the UK, will support projects that improve collaboration between researchers and industry, and encourage a culture of entrepreneurship. UCL’s priority is to enable closer working with business, specifically through the commercialisation of our staff research.
These UCL funds will enable businesses and other research users to support partnerships with small and medium-sized enterprises and larger companies at an earlier stage than currently. The award will also enable more research staff to be seconded to businesses. Funding is being distributed through the Engineering and Physical Sciences Research Council (EPSRC).
Dr Steven Schooling, Director of Physical Sciences, Engineering and Built Environment at UCLB and Space Syntax’s director, commented: “I am pleased that the relationship between UCL and Space Syntax Ltd, which has stimulated a multiplicity of knowledge exchange interactions over the past two decades, was recognised by EPSRC and the Department for Business, Innovation and Skills as providing an excellent launch pad for the Impact Acceleration Accounts programme. The company is embarking on an ambitious programme of growth in areas such as training and software provision, and we would hope that an element of the EPSRC funds earmarked for UCL would be used to support this activity, and thus further develop the relationship between Space Syntax and the Bartlett School of Architecture.”
About Space Syntax
Space Syntax’s mission is to enhance the social, economic and environmental performance of buildings and urban places by developing and applying a science-based, human-focused approach to their planning, design and operation. We exist to provide leadership and cumulative tested knowledge to support the development, dissemination and application of this approach.
UCLB is a leading technology transfer company that supports and commercialises research and innovations arising from UCL, one of the UK’s top research-led universities.
UCLB has a successful track record and a strong reputation for identifying and protecting promising new technologies and innovations from UCL academics. It invests directly in development projects to maximise the potential of the research and manages the commercialisation process of technologies from the laboratory to market.
UCLB supports UCL’s Grand Challenges of increasing UCL’s positive impact on and contribution to Global Health, Sustainable Cities, Intercultural Interaction and Human Wellbeing.
For further information, please visit www.uclb.com