At the outset of Northern Accelerator, North East England had the lowest business density in the UK and low levels of private sector R&D investment.
North East Universities’ research also accounts for a significantly higher proportion of R&D spend compared with the national average. Northern Accelerator partners therefore believe we have a responsibility and an unmissable opportunity to commercialise research to support local and national economic growth.
Both the North East and Tees Valley strategic economic plans have ambitious innovation agendas and it’s in this regional context we set out to deliver. Enabled by £4.9m from Research England’s Connecting Capabilities Fund, today’s Northern Accelerator builds upon an initial European Regional
Development Fund programme to embed entrepreneurial business leaders into university start-ups at the earliest stage.
The long-term vision is to deliver sustainable impact, developing an ongoing venture capital fund for university spin-outs and a vibrant community of businesses created through the programme.
Northern Accelerator in summary
Academics can apply for funding to take high quality research projects closer to commercialisation.
We have an investment fund of seed capital to help spin-outs validate business models and demonstrate value to investors.
30 Assessments Commissioned
We offer a detailed business-readiness diagnostic of commercial opportunities, providing robust external due-diligence.
Executives into Business
25 Executives Recruited
We have a candidate pool of experienced and talented business executives to match to opportunities to lead university spin-outs.
27 High Growth Spin-outs Created
Northern Accelerator will create a sustainable change in the innovation environment through an ongoing venture capital fund for university spin-outs.
Spin-Outs With Some HEI Ownership
Northern Accelerator has so far increased the number of spin-outs from an average of 1.8 per year in the five years preceding Northern Accelerator, to an expected 10 in the 2018/19 academic year.
To date we have
to 44 projects to help academics to take their ideas closer to commercialisation.