EPSRC is pleased to announce a co-funding arrangement with the ERA Foundation that will help provide follow-on support to promising business ideas in IT systems and telecommunications.

This has resulted in four co-funded projects in electrotechnology and we look forward to exploring future opportunities with the ERA Foundation.

The ERA Foundation supports activities that help bridge the gap between research and exploitation in the broad field of electrotechnology. Activities include support of projects at the early stages of commercialisation, investment in start-up and young technology companies, raising the profile of engineering to young people and promoting the importance of high quality research and development to government, industry and academia.

Recognising the need to fill the funding gap between traditional research grants and commercial funding, EPSRC participates in the Research Council Follow-on Fund. With 20 projects (to a value of £1.45M) supported by EPSRC in 2006, the Fund supports researchers in exploring and realising the commercial potential of ideas produced from EPSRC funded grants.

The key objectives lie in demonstrating an idea’s commercial potential and enabling the next steps on the route to commercialisation. After completing the follow-on work, the prospective business idea should be in a much stronger position in terms of securing commercial support from venture capital or seed funds.

Commenting on this new arrangement, Sir Alan Rudge, Chairman of the ERA Foundation said; "The ERA Foundation is very pleased to be co-sponsoring four electrotechnology grants under the EPSRC Follow-on Fund. As a nation it is important that we build on the excellence of our science base, and seek commercialisation opportunities from research outcomes whenever possible. The Board of the Foundation looks forward to working with the EPSRC to see how the Follow-on Fund projects develop, so we can start to identify the essential ingredients for commercial success."

For more information please contact: info@erafoundation.org