NEWS RELEASE TO ANNOUNCE THE LAUNCH OF THE HUB - JUNE 2018
The University of Bath is setting up new business acceleration hubs for advanced engineering and digital innovation companies in the region.
In association with SETsquared, the world’s number one university business accelerator, £1.5m of European funding will be available to support startups and scale up companies in the West of England. Grants of up to £10,000 are available for knowledge exchange, mentoring, research and innovation expertise and resource, business-university research partnerships.
Rosie Bennett, Centre Director at Bath SETsquared announced the news at the monthly Centre’s First Tuesday networking event saying; “This is a fantastic opportunity for growth companies in our thriving tech cluster to access fully funded business acceleration support – tailored to their strategic goals – we encourage eligible companies in the digital and advanced engineering sectors to get in touch with us and take advantage of the opportunity.”
The advanced engineering hub will help up to 130 companies, working on technologies that can be used with the £60m Institute for Advanced Automotive Propulsion Systems (IAAPS) that is scheduled to open in 2020.
“The long-term impact of the project will be a much-improved innovation eco-system, where local SMEs will establish deep long-term relationships with the University that are mutually beneficial,” said Dr Jon Hunt, Director of Research & Innovation Services at the University.
IAAPS is a key centre for the University, developing the next generation of propulsion systems for cars and trucks. “The advanced engineering hub will ‘pump prime’ SMEs to engage with the University’s new £60m automotive research facility,” said Professor Gary Hawley, Dean of Faculty of Engineering & Design and programme lead for the advanced engineering hub. “IAAPS will play a central role in building this SME network by providing access to world-leading expertise to build their capacity and learning, as well as its state-of-the-art facilities.”