Imperial receives £4.5m from government

Funds for knowledge transfer to business totalling almost £4.5m have been awarded to Imperial College London under the government's Higher Education Innovation Fund. They will be used to focus on better understanding and responding to business needs, a new £1.85m 'proof of concept' fund, and development funding for a new London centre seeking to fuse technology with music, fashion and the arts. Imperial is one of the UK's leading technology focused university institutions, making over 150 invention disclosures per year, and with a portfolio of over 60 spinout companies employing over 500 people. Imperial's sole award of £2.4m will be used to engage more effectively with business by understanding their needs better. A new ventures team, which incubates and creates new joint ventures and spinouts, will receive £750,000.

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