Apply for the Enterprise Fund
Supporting innovative ideas
All applicants must complete our application form and send it to us with a business plan ready for review. If you do not have a business plan, you must provide an executive summary detailing the project or concept.
Contact the Applied Knowledge Exchange for guidance in submitting applications to the appropriate Strategic Business Development group, who will coordinate any additional assistance in working towards a credible proposal.
What activities normally receive funding?
Funds may support a wide range of activities that will stimulate the development of enterprise and entrepreneurship across the University. Each proposal must develop towards a commercial outcome. The following gives a few examples of eligible activities:
- Development of a service/consultancy operation
- Development of a surplus-generating centre
- Development of a licence opportunity
- Development of a spin-out company
- A student enterprise opportunity
- Joint-ventures with Social Enterprise Organisations
How will the investments be monitored?
For projects, periodic monitoring meetings are held to track progress against agreed milestones. For spin-out companies, the fund requires either a directorship of the company or the right to have an observer at board meetings.
What are the reporting requirements?
Projects must supply regular reports detailing progress towards milestones. Spin-out companies must produce monthly management accounts and annual audited accounts.
How long will the process take?
Initially, the Investment Committee will meet as needed, but a formal meeting schedule can be arranged where required. Project leaders should expect to receive a decision within one week of the committee meeting. If the proposal is successful, initial funding will be made available within four weeks.