Aston University innovation vouchers scheme launched nationally
AN innovation voucher scheme originally developed and managed by Aston University has been launched nationally by the Technology Strategy Board (TSB) to promote external knowledge sharing in business.
The national scheme will provide start up, small or medium-sized enterprises with the opportunity to apply for up to £5,000 worth of vouchers so that they can collaborate with external experts to gain new knowledge to help their business innovate, develop and grow.
The new scheme follows a similar structure to the innovation vouchers scheme first established by Birmingham’s Aston University in 2007 which aimed to build links between universities and SMEs by creating a demand-led approach to supporting the innovation process.
Dr Phil Extance, pro-vice-chancellor for business partnerships at the university, said: “When the innovation voucher scheme was first developed by Aston University we recognised that SMEs often struggle to forge links with universities and tap into the expertise they have to offer.
“The voucher scheme was designed to help businesses in the West Midlands support their research and development by building links with universities and their academics. We are delighted that the vouchers we developed and pioneered will now be launched nationally by the TSB.”.
Under the Aston scheme more than 660 SMEs participated and 46% of SMEs had no previous experience of working with a university. As a result of the voucher 56% continued to work with a university.
“We are sure that nationwide rollout will provide opportunities for new relationships between SME’s and universities and a much needed boost to stimulating innovation SMEs during the difficult economic climate,” said Extance.
