Forget The X Factor and Big Brother, the people taking part in this competition
will be making an impact on our lives long after Simon Cowell's scowl fades.
The search is on for "would be" entrepreneurs who want to turn their research
ideas into a successful business that everyone can benefit from. The Research Councils
Business Plan Competition (2005/06) is launched today (10/10/2005).
The last Research Councils Business Plan Competition led to the following research
ideas being converted into commercial reality:
- Better detection of hidden guns and explosives;
- More accurate photofits of criminal suspects;
- Improving the management of high-risk pregnancies;
- Using holograms to hit back at CD and DVD piracy;
- "Virtually restoring" damaged ancient artefacts.
The competition is open to researchers from across the breadth of activity that
is supported by Research Councils UK (ranging from science and technology to the
arts).
All competitors will get business training and mentoring along the way.
The final will be held in December 2006 with the winning team getting up to £25,000
to further their business idea.
The last winner was ThruVision Ltd, a spin-out company from the CCLRC
Rutherford Appleton Laboratory in Oxfordshire. Their development of revolutionary
radiation-free imaging technology has led to the easier detection of hidden guns,
explosives and contraband. "Quite apart from the prize money, winning the Business
Plan Competition gave us a real boost in terms of credibility and profile," said
ThruVision's Director, Dr Jonathan James, "reinforcing our own confidence in what
we’re aiming to achieve at ThruVision."
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Notes for Editors:
A detailed outline of the progress and achievements of the finalists and winner
of the last competition are available from the EPSRC press office (see contacts
below). Those teams were:
- ThruVision Ltd (better detection of hidden guns and explosives) -
The CCLRC Rutherford Appleton Laboratory in Oxfordshire (2004 Business Plan
Competition winner).
- EigenFIT (more accurate photofits of criminal suspects) - the University
of Kent.
- Monica Healthcare (improving the management of high-risk pregnancies)
- the University of Nottingham.
- The Holographic Image Studio - THIS (using holograms to hit back
at CD and DVD piracy) - De Montfort University, Leicester.
- Virtually Enhanced Museum Display -VEMDis™ ("virtually restoring"
damaged ancient artefacts) - Camberwell College of Arts.
The competition is open to researchers based in UK Higher Education Institutions
(HEI's) or Public Sector Research Establishments (PSRE) from across the whole spectrum
of academic research - from the arts and biosciences, environmental, physical and
social sciences to technology.
Postgraduates, postdocs and academic staff who have a business idea arising from
research and want to develop this further are encouraged to participate.
About Research Councils UK
Research Councils UK (RCUK) is the partnership between the UK's eight Research
Councils.
The Research Councils run several cross-council multidisciplinary research programmes
and are the main public investors in fundamental research in the UK. Through RCUK,
the Research Councils are working together to create a common framework for research,
training and knowledge transfer.
The partnership is led by the RCUK Executive Group, which meets monthly and comprises
the chief executives of the eight Research Councils. The Group is currently chaired
by Professor Ian Diamond, Chief Executive of the Economic and Social Research Council.
The eight UK Research Councils are:
- Arts & Humanities Research Council (AHRC);
- Biotechnology & Biological Sciences Research Council (BBSRC);
- Council for the Central Laboratory of the Research Councils (CCLRC);
- Economic & Social Research Council (ESRC);
- Engineering & Physical Sciences Research Council (EPSRC);
- Medical Research Council (MRC);
- Natural Environment Research Council (NERC);
- Particle Physics & Astronomy Research Council (PPARC).