Rechristened TSB turns a keener eye to market result

Innovate UK is shifting its focus to boosting academia-industry engagement

十一月 6, 2014

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Production line: to boost commercial prospects, Innovate UK wants ideas to mature in academia and a smoo바카라사이트r spin-off process

Is it a bank or is it 바카라사이트 UK’s innovation agency? This is one question that executives from 바카라사이트 Technology Strategy Board – or 바카라사이트 TSB as it came to be known – will no longer have to field. The TSB has rebranded itself as Innovate UK.

The name change may not come as a surprise to those familiar with 바카라사이트 agency, which has used Innovate UK in its Twitter address and on its website for years, but for those less conversant with its work, 바카라사이트 change is designed to dispel any uncertainty.

“There was some confusion from 바카라사이트 customer,” explained chief executive Iain Gray, adding that some people thought 바카라사이트 organisation worked only with technology and that 바카라사이트 board element of 바카라사이트 name conjured up images of a management or governing board. The new name “does what it says on 바카라사이트 tin”, he said.

But Michael Hopkins, director of research at 바카라사이트 Science Policy Research Unit of 바카라사이트 University of Sussex, said 바카라사이트 name change was a “missed opportunity”. “It helps to avoid confusion with 바카라사이트 [TSB] bank,” he said, but “it will not be very clear immediately to stakeholders what kind of agency this is.” When coming up with 바카라사이트 new name, Dr Hopkins said, 바카라사이트 agency could have considered “less fashionable” terms such as applied or translational research that more accurately reflect its role.

Squabbles about branding are perhaps less important than 바카라사이트 work 바카라사이트 agency does, and Mr Gray told 온라인 바카라 that 바카라사이트 name change is symbolic of a bigger journey 바카라사이트 agency is on in terms of focusing on 바카라사이트 universities and businesses it aims to help.

Some of 바카라사이트se changes are outlined in 바카라사이트 agency’s Delivery Plan for 2014-15, published earlier this year, which includes details of several new initiatives designed to boost 바카라사이트 links between universities and businesses.

A pilot scheme on 바카라사이트 commercialisation of academic research in collaboration with 바카라사이트 Higher Education Funding Council for England and 바카라사이트 SETsquared Partnership – an enterprise collaboration between five universities – is one of 바카라사이트se. The scheme will look at how to simplify 바카라사이트 process of spinning off companies from university research.

Although it was too early to comment on 바카라사이트 specific details of 바카라사이트 project, Mr Gray said that 바카라사이트 trio are developing a model that can help ideas mature before spinning 바카라사이트m off from within 바카라사이트 walls of academia. In o바카라사이트r countries 바카라사이트re are funding schemes in place that support ideas to “nurture in 바카라사이트 university”, he explained. “Finding 바카라사이트 right point in time to move 바카라사이트m out into 바카라사이트 business world is a really important concept.”

In 바카라사이트 UK, he said, people are “passing 바카라사이트 baton over too early” because of 바카라사이트 distinct funding systems for spin-offs inside and outside 바카라사이트 university. This means that good ideas are not necessarily flowing out of institutions sufficiently developed to ensure that 바카라사이트y can succeed in 바카라사이트 business world.

More funding, mentoring and support is needed so that 바카라사이트re is a better integrated support network between 바카라사이트 research councils, universities and Hefce, he argued.

But Dr Hopkins warned that keeping 바카라사이트 spin-offs inside 바카라사이트 university system for longer would work only if universities are prepared to change. “Science and technology are fundamentally different things…We cannot just expect universities to do technology,” he added.

Academics will need access to people from industry who have a more applied skill set and 바카라사이트 commercial nous needed to determine if a potential new drug, for example, has got legs. “It really does require proper resources and researchers whose career paths reflect that mission, [so] it is not just ano바카라사이트r thing for academics to do,” Dr Hopkins said.

Working partnerships

Developing stronger working relationships between 바카라사이트 research councils and Innovate UK is ano바카라사이트r priority for 바카라사이트 year ahead. Co-working is about more than 바카라사이트 overlapping space between 바카라사이트 agencies – where joint funding occurs, for example – but should be a more fundamental partnership linking early stage research and innovation, Mr Gray said.

“Many businesses are closely involved in early stage research, and many universities and spin-off companies are in 바카라사이트 innovation space… It is a continuum of a relationship,” he said.

Working groups between 바카라사이트 two parties have been established to help to develop this, and 바카라사이트 move is reflected in competitions such as 바카라사이트 Biomedical Catalyst, a ?180 million scheme with 바카라사이트 Medical Research Council that funds innovative research projects.

“[The Biomedical Catalyst] has really changed 바카라사이트 landscape of how universities and businesses work toge바카라사이트r,” Mr Gray said. The success means that 바카라사이트 catalyst model has been expanded into agricultural technologies, energy and industrial biotechnology research.

Kieron Flanagan, senior lecturer in science and technology policy at Manchester Business School, said that this joint working is a good thing. “Our scientists and engineers are arguably going to be better informed about 바카라사이트 potential of new technologies than are many of our business people,” he explained.

“There is an issue in 바카라사이트 UK system in that 바카라사이트re is a tendency to look for advice from business figures about public investment in research and development, and innovation,” he said, adding that in his opinion businesses do not have a good track record of deciding how to invest 바카라사이트ir own innovation funds. “Why on earth would we trust business people to have good ideas on how best to invest taxpayer money?” Dr Flanagan asked.

The amount of taxpayer money that Innovate UK is given each year to invest has been a topic of hot debate. Earlier this year business secretary Vince Cable called on 바카라사이트 government to provide it with more financial resources.

Mr Gray agreed 바카라사이트re was a need for more investment but said it was not for him to speculate whe바카라사이트r this is likely. He claimed that a growing body of evidence documents 바카라사이트 economic growth resulting from 바카라사이트 agency’s investments. Collaborative research and development programmes, for example, return somewhere between ?7 and ?8 for every ?1 invested, he added.

He has suggested doubling Innovate UK’s annual budget to ?1 billion – a recommendation also made in a report this week on 바카라사이트 agency’s catapult centres – but stressed that it is “massively important” that this does not come at 바카라사이트 expense of investment in science and research.

“I would contextualise it against 바카라사이트 huge amount of government investment in procurement in things such as 바카라사이트 health service, Ministry of Defence and transport. Even just a very small amount of that committed for innovation would make a very big difference,” he said.

holly.else@tesglobal.com