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The University of Cambridge will join a group of partners in a project led by University College London to work at the Stevenage Bioscience Catalyst. The project is one of a portfolio of 16 schemes set up around the country to help drive growth and boost the global economy. The project will benefit from the recent injection of funding announced by David Willetts, Minister for Universities and Science.
Mr Willetts, speaking at a London conference organised by the Higher Education Policy Institute and the Higher Education Academy, revealed a further £50m investment in the Higher Education Funding Council for England (HEFCE)’s Catalyst fund. The extra funding is to “support cutting-edge innovation and research projects and keep us ahead in the global race”. The minister explained that a portfolio of 16 projects will be set up around the country to support growth and aims to create over 3,000 jobs (including high-value jobs and new graduate employment opportunities).
The UCL scheme will benefit from a share of this investment and aims to strengthen links between higher education institutions and business, specifically by enhancing and develop further links with the catapult centres and establishing the future generation of entrepreneurs and researchers.
Read David Willetts’ speech in full.
Recent news article on the UCL venture.