Universities get £9m to turn research to business
Getty ImagesA new five-year scheme to help universities create business opportunities from the research they conduct has been launched.
Northumbria, Newcastle, Sunderland, Durham and Teesside universities have been awarded £8.9m from Research England to better "commercialise impactful research".
Durham University vice-chancellor Karen O'Brien said the scheme would be a "gamechanger" and help find "innovative, profitable solutions to pressing challenges".
She said universities in the region had a "shared drive" to ensure academic research benefited local communities through new businesses and better jobs.
Northumbria University vice-chancellor Andy Long said the funding would help it increase its "impact across the region".
"Creating intellectual property and delivering this into the economy through the creation of new technology businesses... is one of our priority areas of focus," he said.
Science minister Lord Vallance said that while the UK was home to many of the world's best universities, more needed to done the unlock scientific research's "vast economic potential".
Research England said the money would help north-east England researchers engage with businesses and investors.
The governmental body also awarded £21m to other universities across England as part of the scheme.