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Innovation at UCLan

Idea Investment Voucher Scheme

Idea Investment Voucher Scheme  (Header Image)

Removing Barriers to Business Engagement

The 2015/16 Idea Investment Voucher Scheme is now open for applications

The Idea Investment Voucher Scheme, can provide you with funding of up to £20k to collaborate with UCLan research staff and advance your innovative idea. The voucher will fund staff time and resources to collaborate with organisations to create or validate new products, services or processes that give your organisation a competitive edge.

The scheme is designed to encourage and help companies to engage with our academic staff on projects that build innovation capability within their own companies, leading to the development of new projects, services and processes that give them competitive advantage in their respective markets.

The voucher aims to:

Stimulate the interaction and exchange of knowledge between UCLan and external organisations in order to develop measures to maintain or improve your competitiveness in your domestic and international markets.

Strengthen capability for innovation and growth by providing you with access to expertise, knowledge, infrastructure and equipment for product, service and process innovation.

If you are currently working on an innovative project within your organisation and would like to access UCLan’s specialist knowledge, research and support, please contact the Innovationteam@uclan.ac.uk you can also find further information on the scheme on the application form:

 

Download the Application Form

Biological sciences lab - uclan 

The Voucher  

The scheme provides vouchers from £3,000 up to £20,000 that can be used to cover the costs of academic staff time and access to equipment and consumables to undertake the activities to be delivered during the project.

Types of activities that are eligible for a voucher:

  • Specialist consultancy
  • Applied research and development
  • Use of specialist facilities and equipment
  • Proof of concept development, field testing, product evaluation and certification
  • Technical validation of a technology
  • Innovation or technology audits
  • Design, prototyping and testing of new products, services or processes

Types of activities that are not eligible for a voucher:

  • Development and/or delivery of any training or CPD courses
  • Software purchases
  • Statutory activities placed on the company
  • Internships or placements for students
  • Design and production of advertising materials including websites and mobile applications
  • Sales and marketing activities

The company is required to match (50/50) the voucher value, however where the company doesn't have the financial resources to match, I&E can at its discretion has the option to negotiate a deferred payment option via a profit share arrangement with the company.

Planning your project

If you are interested in applying for an Idea Investment Voucher and would like to know if UCLan has the resources and skills to deliver a solution in a particular area please contact the Innovationteam@uclan.ac.uk for a chat.

Your application will be reviewed on the strength of the following:

  • Project overview - why do you wish to undertake the project? What are the business drivers? What are the business benefits? What are the benefits to the University working with you on your project?
  • Objectives - What will be accomplished by the project?
  • Scope - What deliverables will be created? What resources are required to deliver them, over what time frame and at what cost?

Application Procedure

  • Download and complete the confidential Idea Investment Voucher Application form
  • Submit your application to the Innovationteam@uclan.ac.uk
  • From your application form, we will evaluate your requirements and confirm whether we are able to support you
  • If your application is successful, an Idea Investment Voucher Agreement will be drafted detailing milestones to be achieved by both parties and target dates for delivery. This will include UCLan’s and your commitments to the project.
  • Once the project is delivered you will be required to complete a Case Study about the project for the purposes of PR and marketing