UK Science Minister Launches New Fellowship To Boost Deep Tech, Life Sciences
The fellowship program is expected to attract more investment into the country's research and development-intensive small and medium enterprises.
Study in UK: Imperial College London and the Royal Academy of Engineering have collaborated to launch a new Venture Capital Fellowship to boost the deep tech and life sciences sectors.
The new Science and Technology Venture Capital Fellowship is a unique, government-backed initiative to improve the knowledge of investors and their experience in the life sciences and deep tech sectors.
While speaking at the launch event, Lord Vallance, Minister for Science, Royal Academy of Engineering said, “Too often, cutting-edge innovations and burgeoning companies are stymied in their growth or forced to leave the UK, due to a lack of access to capital. Together with Imperial College London and the Royal Academy of Engineering, we are delivering a fellowship that will make more investors aware of the formidable potential of the UK’s deep tech and life science sectors.”
He added, “This new fellowship supports investors to make more informed choices about where they put their capital, opening up a wider pool of capital for new science and technology firms, and helping to harness R&D as a force for economic growth.”
Imperial's New Science and Technology Venture Capital Fellowship Details
Professor Ramana Nanda, Academic Lead at Imperial’s Institute for Deep Tech Entrepreneurship will deliver this fellowship via Imperial Projects. Department for Science, Innovation and Technology will fund this fellowship and it will be delivered in collaboration with the Royal Academy of Engineering.
The science minister welcomed the first cohort to the programme and praised the organisers. He talked about the requirement of a funding ecosystem.
With exclusive access to industry leaders, customized networking and tailored teaching, the fellowship program will help in providing more funding to the SMEs in the R&D sector.
Professor Peter Todd, Dean of Imperial College Business School said, “We’ve heard today about the growth opportunities in the UK’s deep tech sector. As a bridge between research, enterprise and policy our role at the Business School is to help make those opportunities happen; to help facilitate growth and to bring science to humanity. We do that by creating connections between academia, the private sector and the government; uniting insight, means and confidence.”
Professor Mary Ryan, Vice-Provost (Research and Enterprise) at Imperial said, “This new Fellowship marks a significant milestone for the UK innovation communities and highlights the vital work we are doing at Imperial to enable the translation of groundbreaking scientific research into real-world commercial ventures that address society’s most pressing needs. Deep tech is critical for tackling global challenges, from climate change and food and water insecurity to advancing medical breakthroughs.”
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