The University of Sheffield has been awarded 4.29 million in funding from UK Research and Innovation (UKRI), to jumpstart the early-stage translation of research that can create real impact for people across the UK.

The University of Sheffield has been awarded 4.29 million in funding from UK Research and Innovation (UKRI), to jumpstart the early-stage translation of research that can create real impact for people across the UK.

The University is one of 64 UK universities and research organisations to be awarded IAA funding and in the top 10 in terms of the highest amounts of funding from UKRIs 118 million pot of IAA funding. The funding will support critical early-stage translation of UK research, knowledge exchange, translation and commercialisation.

IAA funding drives economic growth and attracts private investment, allowing research to be turned into reality through the development of new technologies. It also supports evidence-based policymaking to transform public services, create new jobs, and forge new partnerships with business and charities.

The programme empowers organisations to respond to emerging global opportunities and has provided early-stage support to projects that are now established global businesses.

IAA funding has supported successful knowledge exchange projects at the University of Sheffield for more than 10 years, including:

Vice-President for Innovation at the University of Sheffield, Professor Dave Petley, said: For the University, our innovation and knowledge exchange activities are vital to meeting the challenges society faces, whether this is generating economic prosperity through spin-outs and new ventures, establishing collaborations with our regional partners to improve health and patient care or delivering projects to tackle societal and sustainability challenges.

The University has a strong ambition to drive innovation through knowledge exchange with our partners. Just one example is the development of innovative start-ups and spin-outs through Northern Gritstone, a company created jointly with the Universities of Manchester and Leeds to invest in our spin-out companies.

Last month, Northern Gritstone announced a first close of 215 million, which will lead to investments across emerging sectors such as advanced materials, health technology, cognitive computation and AI in northern England.

UKRI Director of Commercialisation Tony Soteriou, said: The UK is home to some of the brightest, most innovative and creative research teams in the world. They have the ideas and they have the entrepreneurial energy to create businesses and services that could turn sectors on their head.

What they need, what every great commercial idea needs, is support in the critical early stages. The Impact Acceleration Account is the catalyst that allows projects to grow to the next level, attracting investment, forging partnerships and creating jobs.

The breadth of UKRI allows us to work right across the UKs world-class research and innovation system to ensure it builds a green future, secures better health, ageing and wellbeing, tackles infections, and builds a secure and resilient world."

UKRI Chief Executive Professor Dame Ottoline Leyser, said: "Research and innovation has the potential to improve peoples lives and livelihoods, rejuvenating communities across the UK and tackling global challenges. It is imperative that we harness that potential.

The path between discovery and impact is not simple and so it is vital that we provide flexible support that allows talented people and teams, and world-class institutions to connect discovery to prosperity and public good.

Our impact acceleration funding has a fantastic track-record in providing support that helps brilliant ideas become realities that make a real difference.

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4 million awarded to University of Sheffield to turn bright ideas into global opportunities - University of Sheffield News