- The Impact Acceleration Account (IAA) investment over three years focuses on maximising impact, knowledge exchange, translation and commercialisation potential within research organisations
- Funding allows researchers to unlock the value of their work, including early-stage commercialisation of new technologies
- The University will receive over £580,000 ‘to accelerate UK bright ideas into global opportunities'.
Aston University has won a share of £118m in UK Research and Innovation (UKRI) funding.
The Impact Acceleration Account (IAA) investment over three years focuses on maximising impact, knowledge exchange, translation and commercialisation potential within research organisations.
Funding allows researchers to unlock the value of their work, including early-stage commercialisation of new technologies and advancing changes to public policy and services such as NHS clinical practice.
UKRI, a government body responsible for delivering £8bn research and innovation funding each year, is investing £118 million in the latest round of IAAs to translate research across 64 universities and research organisations.
Aston University was successful in gaining both Engineering and Physical Sciences Research Council (EPSRC) and Biotechnology and Biological Sciences Research Council (BBSRC) IAA funding – the latter one of only 15 IAA full awards nationally.
Luke Southan, technology transfer manager at Aston University, said:
“This funding will be transformational for Aston University’s capacity to get the best good from the research it carries out.
“We have a pipeline of world-changing inventions, medical treatments, net-zero initiatives and spinout companies that we can give the greatest chance of success through these highly prestigious pots of funding.”
UKRI director of commercialisation, Tony Soteriou, said:
“The UK is home to some of the brightest, most innovative and creative research teams in the world. They have the ideas and they have the entrepreneurial energy to create businesses and services that could turn sectors on their head.
“What they need, what every great commercial idea needs, is support in the critical early stages. The Impact Acceleration Account is the catalyst that allows projects to grow to the next level, attracting investment, forging partnerships and creating jobs.
“The breadth of UKRI allows us to work right across the UK’s world-class research and innovation system to ensure it builds a green future, secures better health, ageing and wellbeing, tackles infections, and builds a secure and resilient world.”
- Notes to Editors
About Aston University
Founded in 1895 and a University since 1966, Aston is a long established university led by its three main beneficiaries – students, business and the professions, and our region and society. Aston University is located in Birmingham and at the heart of a vibrant city and the campus houses all the university’s academic, social and accommodation facilities for our students. Saskia Loer Hansen is the interim Vice-Chancellor & Chief Executive.
Aston University was named University of the Year 2020 by The Guardian and the University’s full time MBA programme has been ranked in the top 100 in the world in the Economist MBA 2021 ranking. The Aston MBA has been ranked 12th in the UK and 85th in the world.
For media inquiries in relation to this release, contact Sam Cook, Press and Communications Manager, on (+44)74469 10063 or email: s.cook2@aston.ac.uk
Be first to get the latest news, research and expert comment from Aston
by following us on TwitterNeed an expert for your story? Browse our expert directory