Following an independent review of university spin-out companies, Research England has today (24 September) published its spin-out best practice and initial adoption list.
Durham University has been named among the Initial List of Adopting Institutions for spin-out best practices. This recognition comes as government assesses early implementation of the recommendations of a government-commissioned independent review aimed at boosting innovation and economic growth through the commercialisation of university research through the creation of new spin out businesses.
“We welcome the announcement that Durham University has been included in the Initial List of Adopting Institutions of the recommendations of Research England’s spin-out adoption of best practice. “As a University, we are strongly committed to both the development of world-class research, and to ensuring that our research programmes and resulting intellectual property make a direct and substantial impact on our national and regional economy, and on addressing key social and environmental challenges.”
Durham has sustained a purpose-driven commercialisation programme within our institution since the early 2000s and we’ve continued to build our institutional support for new business creation and economic growth since.
We welcomed the publication of the Independent Review of University Spin-Out Companies last year which provided analysis of the current support available to encourage business creation and growth through University research and intellectual property, and of the issues and challenges that the sector should address. Its eleven recommendations provided a framework for further supporting development and impact through commercialisation.
Durham’s inclusion in the adoption list acknowledges the University has substantively adopted the review’s best practices and continues to strengthen the support framework around commercialisation.
As an institution, we are committed to ongoing work to take opportunities to deliver newly created businesses into the regional North East economy, connecting these businesses with key growth sectors, and collaborating with partners to overcome barriers.
The Northern Accelerator partnership, involving Durham and other regional universities, has significantly boosted the number of spin-out businesses over the past six years. This collaboration has attracted increased investment and is now recognised as a leading-edge partnership in this area.
Our Vice-Chancellor spoke about the approach of the Northern Accelerator programme and the experience of Durham University in supporting spinouts at the All-Party Parliamentary University Group (APPUG) in the House of commons.
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