University announces 拢650k in funding for innovative founders
The University of Manchester, through its innovation capability Unit M, is launching two new programmes to support early stage founders within the University community and Greater Manchester.
The 拢650,000 funding to accelerate entrepreneurship was announced at a Founders Network event hosted by the Innovation Academy, which works across the University to support researchers commercialising their ideas.
The two projects - Ideas with Impact Awards and Greater Manchester Accelerator Programme - support different aspects of the city鈥檚 innovation ecosystem.
The Ideas With Impact Awards scheme will offer a total of 拢300,000 in individual innovation prizes for the most inspiring and commercially viable early-stage research projects, made possible by the generosity our alumni and philanthropic supporters.
The Greater Manchester Accelerator Programme encompasses 拢350,000 in funding for regional innovators and high-potential ventures to help researchers identify and validate their early-stage business ideas.
It is great to see the University鈥檚 pioneering spirit and rich heritage of social change, in light of the upcoming launch of our Manchester 2035 strategy. The University of Manchester has a stellar track record in spearheading discovery. It is our responsibility to honour that legacy by creating tangible positive societal impact from our research.
The Founders Network event convened over 200 like-minded innovators for an evening of networking and conversation. Part of a growing series, it brought together a record number of students, staff, entrepreneurs and industry stakeholders to continue developing Manchester鈥檚 innovation ecosystem, and heard pitches from eight student and staff founders at different stages of the 鈥渋dea to impact鈥� journey. The ideas spanned women鈥檚 health, sustainable materials manufacturing, health tech and social enterprises tackling global inequalities.
Professor Aline Miller, Chief Scientific Officer at Unit M, and Director of the Innovation Academy said: 鈥淭his is an exciting time to be a budding entrepreneur in our university and Greater Manchester. At Unit M, we are dedicated to fostering meaningful collaboration between our partners and industry to build an inclusive innovation ecosystem. This is vital to translating Manchester鈥檚 academic excellence to tangible impact which benefits society.鈥�
The University of Manchester is dedicated to fostering and nurturing its rich history of world-class research. Unit M is the University鈥檚 new innovation capability, created to connect and catalyse the innovation ecosystem in Manchester and the wider region to accelerate inclusive growth. As part of Unit M, the Innovation Academy aims to nurture its growing community of tech, creative and social start-up and spin-out founders to empower each other to succeed.
Dr Catherine Headley, CEO of The University of Manchester Innovation Factory, said: 鈥淭he Ideas With Impact fund has been instrumental in catalysing new opportunities for commercialisation through the Innovation Factory. The critical funding supported through generous donations, has contributed to the success of more than 100 spinout companies that we have created from the University鈥檚 academic research. This helps us to realise our ambitions and grow our community of donors who are supporting brilliant future founders. At the Innovation Factory, we are proud to play a key role in the University鈥檚 impressive ranking as a top-tier institution for spinout generation.鈥�
ABOUT THE AWARDS
The Ideas With Impact Awards, with prizes of 拢100k, 拢50k and 拢20k will help turn bright ideas into social and economic enterprises. Open to any student, staff, or recent alumni working on solutions to global challenges, winners will also receive mentorship and networking support through the Innovation Academy and the University tech transfer office, The Innovation Factory. For more information visit:
The Greater Manchester Accelerator Programme, supported by GMCA investment zone funding, will offer comprehensive support to researchers with early-stage business ideas and help Greater Manchester deep tech companies scale up manufacturing. More information on the 拢350k in innovation awards will be released in the coming weeks.
ABOUT UNIT M
Unit M鈥檚 ambition is to pioneer a more inclusive, sustainable model of growth that works for Manchester, the wider region, and the UK - enabling the city to fulfil its economic potential. Led by Professor Lou Cordwell OBE, Unit M will drive growth in startups and scaleups, diffuse technologies into SMEs, and attract foreign direct investment to the region and the UK. By making the University of Manchester鈥檚 world-class research, innovation assets and talent more accessible to all, Unit M will attract and grow innovation-intensive businesses in the region. It is designed to address all aspects of the innovation challenge 鈥� from R&D and innovation adoption through to talent and skills 鈥� creating an economy that creates good jobs, higher pay, and improved productivity.
PHILANTROPIC SUPPORT
We鈥檇 love to discuss your philanthropic goals and ambitions with you. Reach out to Olympia Kennard to begin a conversation: Olympia.Kennard@manchester.ac.uk