The mayor’s office of UK’s North East England, a region of 2.7 million residents, has announced a five-year, £22.5 million ($30M) public-private partnership with area research universities to accelerate commercialization of academic research and create high-growth startup businesses. Partners include Durham, Newcastle, Northumbria, Sunderland, and Teesside universities, which have invested a combined £12.5 million ($17M) in the North East Spinout Inspire Fund. The investments will support at least 30 early-stage startups in clean technology, life sciences, digital innovation, and advanced manufacturing. The fund aims to address financing gaps while driving job creation, investment attraction, and regional growth.
UK’s North East launches public-private £22.5M startup fund to drive regional economic growth
Mayor backs £22.5 million innovation fund
Article
Business Daily
Graphic created from original photo. Credit: Wikimedia/Jimmy Guano
This note filed under: Collaboration, Economic Development, Energy, Impact Investing, Public Funding, Public Policy, Science & Technology
