£9.5 million boost for East of England's education business

23 May 2006 Giving East of England firms the chance to reduce carbon emissions and strengthen links between education and enterprise are two of the leading projects that will share in more than £9.5 million for the East of England's Higher Education Institutions, Trade and Industry Secretary Alistair Darling has announced. The awards are made under the Higher Education Innovation Fund (HEIF) to help build closer ties between business and higher education and turn ideas into enterprise. Secretary of State for Trade and Industry Alistair Darling said: 'Innovation and science are the keys to the East of England's economic growth. Exploiting the wealth of knowledge in the East of England's Higher Education Institutions and translating them into real business opportunities will enable us to achieve that. 'The Higher Education Innovation Fund binds educational research and private sector investment, and stimulates a culture of entrepreneurship within Higher Education Institutions. 'The Universities of Essex and East Anglia are leading the way in linking innovation to business, and it's vital they work with business to help translate new ideas and technology into increased productivity and regional growth. Their collaboration with regional firms will help redefine the relationship between business and Higher Education.' The two competitive winning bids for the region are: University of East Anglia: Carbon Connections. Carbon dioxide is the major climate change gas, and carbon reduction sits at the top of international, political, economic and social agendas. The reliance of many countries - including the UK on remote sources of fossil fuel points to serious implications concerning security of supply. Future success in carbon reduction relies upon behavioural change across all sectors and moving economies onto low-carbon growth pathways using low carbon technologies. Carbon Connections will actively support innovation, development and implementation in carbon reduction to address stakeholder needs. It will forge a close network of partners to identify, fund, develop and deliver technical and social interventions (projects) to effect measurable carbon reduction. Innovation will be delivered from inception to marketplace, and the Carbon Connections brand will be underpinned by both academic credibility and commercial endorsement. University of Essex: Business Edge. To develop a diagnostic tool, learning engine and national programme designed to strengthen links between education and enterprise and increase the vitality of entrepreneurial businesses. The project has one clear aim - to improve the success and strength of enterprises by offering assessment of business viability followed by self-help and evidence-based support interventions from HEIs and appropriate agencies. A pilot project, The Gauntlet provided investment-readiness support to more than 600 organisations in a single RDA region, and was instrumental in raising more than £5 million of venture funding for companies that anticipate employing more than 400 people within three years. ............................................................................................................................................. Contact the University of East Anglia on 01603 591566 and the University of Essex on 01206 873527. Reproduced with kind permission of Cambridge Network