A UNIVERSITY hopes to create 40 businesses on Wearside with a £2.9m investment to turn graduates’ ideas into commercial success.
The University of Sunderland has won backing from regional development agency One North East to finance its contribution to the Sunderland Software City (SSC) initiative.
Around 50 jobs will be created and 120 businesses are expected to get help from the project which aims to nurture and commercialise research at the university.
John MacIntyre, dean of applied sciences at the University of Sunderland, said: “A cornerstone of our project is to stimulate graduate enterprise by creating a Software Hatchery to provide a dedicated support environment for small businesses to develop ideas.
“The Hatchery will be fully equipped to support fledgling software businesses with access to a broad range of software platforms. Our main objective is to stimulate companies in the region to convert ideas into marketable software products.
“Funding will support product development and knowledge transfer activity among software companies across the region. We will also provide expertise and access to intellectual property generated through the university’s R&D activities.”
The project will put enterprise into the curriculum at undergraduate and postgraduate level with the introduction of accredited enterprise modules and specific programmes targeted at promoting and stimulating enterprise.
The university will also support graduates and academics operating as fledgling businesses by running a series of enterprise seminars and workshops.
The project is being part financed by the European Union’s ERDF Competitiveness Programme 2007-13, securing £945,000 ERDF investment from One North East to add to £1.9m of the agency’s Single Programme money.
A specific employer engagement programme will identify opportunities for the university to assist companies in product development activities and convert collaborative R&D into new software products, technologies and concepts.
One North East head of European and skills strategy Lesley Calder said: “Demand for graduates in computing remains strong and businesses are increasingly reliant on top ICT talent.
“Our support will help Sunderland Software City establish an education sector providing exceptional technical and business expertise.”
The SSC Education & Innovation project is part of Solutions for Business, the Government’s portfolio of publicly-funded business support.
For further information, call the University of Sunderland on (0191) 515-3555 or e-mail Mark.donnelly@sunderland.ac.uk