Fast Forward to £750,000 for University-Industry Projects
Today sees the Intellectual Property Office (IPO) launch its annual Fast Forward competition.
In its third year, Fast Forward aims to encourage collaboration between universities and businesses through the development of projects that manage Intellectual Property (IP) and Knowledge Exchange (KE).
By encouraging Higher Education Institutions (HEIs) and Public Secotr Research Establishments (PSREs) to work with businesses and communities, Fast Forward aims to push innovation so that it adds benefit to the nation and wider society as a whole.
In its two years so far the Fast Forward competition has provided £1.25 million in prizes to 23 winning projects.
This year’s total prize fund is £750,000 and a dozen winning projects will receive individual awards ranging from £10,000 to as much as £100,000
One previous winner was for the Bloodhound@University project, a University of the West of England project which was involved with the Bloodhound Super Sonic Car (SSC).
The Bloodhound SSC project secured funding of £80,000 to support its approach toward open and collaborative intellectual property management.
Director of Bloodhound@University, Dr John Lanham, said:
“The IPO’s Fast Forward funding has enabled the project to foster an open and collaborative approach to IP sharing. The BloodhoundSSC project will share data from the designing, building, testing and running of the car to provide unprecedented access to teachers, lecturers and students. The project is also working with small and medium enterprises in the technology sector to adopt and adapt some of these practices and policies to improve their competitiveness in the marketplace.”
Sean Dennehey of the Intellectual Property Office had this to say:
“UK universities lead the world as seats of learning, but they are also hubs of innovation, creating and harnessing intellectual property to fuel market competitiveness and economic growth.”
“Fast Forward recognises and rewards projects that demonstrate innovative approaches to university-industry collaborations, providing funding that can help create new companies and services which benefit the UK economy and society.”
The competition closes on Friday the 14th of December and any venture keen ot be involved is enbcouraged to enter the Fast Forward competition at http://www.ipo.gov.uk/fastforward.htm