A new investment fund to support university spin-outs has been launched by steel company Caparo and the University of Wolverhampton.
The £400,000 CIC Investment Fund will award cash in return for shares, with either Caparo or University of Wolverhampton staff joining the board of each spin-out it invests in.
Lord Paul of Marylebone, chancellor of the University of Wolverhampton and founder of Caparo, said: “This is another exciting project with the University linked to the Caparo Innovation Centre and it is something I am very proud of.
“This is a £400,000 technology investment fund, which will be a great opportunity for university researchers and will be extremely positive for the economic development of the region, through the support it will provide to new companies specialising in the science and technology sectors.”
University vice chancellor Professor Geoff Layer added: “As a university we are always striving to provide innovation and to foster an entrepreneurial way of working.
“This new partnership with Caparo will allow us to transform some of the fantastic research that goes on in the University into commercial realities to create both an economic and societal impact.”
The programme is being led by Professor Andrew Pollard of the Caparo Innovation Centre.