The University of Sussex has been given more than £1.6 million from the Department of Trade and Industry to help it forge links with the business community.
Ministers hope the money will give companies greater access to research which may lead to new products and help entrepreneurs succeed in business.
Some of it will go to the Sussex Innovation Centre (SinC) at the university's campus in Falmer, which supports and develops new modern businesses.
The rest will help run the university's regional development office (RDO) and its subsidiary company Sussex Intellectual Property (Sussex IP).
Sussex IP markets new technologies developed at the university and makes sure it reaps the maximum financial rewards through licensing.
Greater links between Sussex IP, which has access to a separate £4 million fund for entrepreneurs, and SinC are expected to be developed through the latest funding.
The RDO is the university's main contact point for businesses and helps them develop beneficial links with the university.
Funding will help the office to expand its role over the next two years, including offering courses and professional development in fields such as engineering.
The £1,638,150 award is part of a £187 million allocation to UK universities.
The South-East is the main hub for knowledge-based businesses and in Sussex there are 22,500 such firms employing 172,000 people.
Crawley leads the way as it is home to hundreds of hi-tech companies and contributes almost a third of Sussex's productivity.
Peter Brooks, director of research and regional development at the university, said: "This grant will strengthen the university's capacity to work with its partners in the region to increase research collaboration to the benefit of the region's economy."
Science and innovation minister Lord Sainsbury said: "Universities play a vital role in generating world-class knowledge and research and providing us with a highly qualified workforce."
The bid was backed by the Sussex Learning and Skills Council, West Sussex Economic Partnership, the Specialist Schools Trust and Sussex Enterprise. james.lancaster@theargus.co.uk
Monday June 21, 2004
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