£44 million to U.K. universities to share knowledge with business

Spread the wealth — the wealth of knowledge, in this case. Bath University has received a £3.4 million grant from the U.K. Engineering and Physical Sciences Research Council (EPSRC) to share academic research within the business community. The funding has been awarded as part of the EPSRC’s Knowledge Transfer Accounts (KTA) program, designed to increase collaboration between academia and business. So far, the EPSRC’s KTA programs have awarded a total of £44 million to higher-education institutions throughout the United Kingdom.

As one of twelve universities chosen to receive the grant, Bath hopes the money will help it launch spin-off companies and provide research that will help shape future government policy. Professor Jane Millar, pro vice-chancellor for research at the university, said: “This award will radically enhance Bath University’s ability to deliver on its mission to advance knowledge through high-quality research and teaching in partnership with business, the professions, the public services, the voluntary sector and other research-and-learning providers.”

Dr. Jon Hunt, head of research development and collaborations at the university, and author and project manager for this award, added: “This award builds on the university’s reputation of working with businesses to develop ideas into opportunities that benefit the economy and wider society. The scheme will be used to reduce the barriers preventing greater knowledge exchange between businesses and the university.”