NESTech is a £3m technology seed fund resulting from a successful application to the Office of Science and Technology [OST] University Challenge Fund by the University of St Andrews along with Dundee and Aberdeen Universities.
NESTech’s purpose is to provide funding at the riskiest stage of the commercialisation process and to bridge the gap between university research and commercial take-up/application. The fund will invest in projects with the potential to lead to either spinout companies or license deals.
What Funding Is Available?
Only projects with potential commercial application (where preferably the technology is approaching patenting or licensing) will be considered. There are two levels of funding:
Low Level: projects up to £30,000 Pump priming
- Non repayable loans of up to 30K are available for early stage projects and applicable to:
- Market research, business plan preparation
- Protection of early stage intellectual property rights
- Access to external specialist equipment or facilities
- Purchase technical assistance, services or materials for exemplification of research
Medium to Large Level: repayable loans £30,000 – £250,000
- Funding suitable for a project preparing for either a licensing deal or whose team leaders plan to form a spinout company and relating to:
- Prototype Development
- Protection of later stage intellectual property rights
- Sequencing and development of molecular target/receptor/gene with therapeutic & commercial value
- Exemplification work to demonstrate proof of concept