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28 February 2014
A web gateway that brings together Welsh research and global business goes live on St David's Day (March 1 2014).
Wales IP acts as a portal for potential investors, helping them locate innovative opportunities developed by five Wales’ research-intensive universities.
The site is the public face of the Intellectual Property Collaboration Project (IPCoP) between Aberystwyth, Bangor, Cardiff, South Wales and Swansea Universities.
Professor Hywel Thomas, Pro Vice-Chancellor, Cardiff University, said: "The portal takes innovation from the workbench to the boardroom, putting investors in touch with opportunities, and allowing researchers in Wales to share best practice, refine ideas, and develop world-beating business opportunities."
The collaboration is funded by the Higher Education Council for Wales (HEFCW). Using the leading research and immense expertise of these institutions, IPCoP aims to drive forward the knowledge economy in Wales, worth £177M in 2011-12.
Dr David Blaney, Chief Executive of HEFCW, said: "Universities contribute millions to the Welsh economy through the granting of licences, the filing of patents and the creation of spin-out companies, as well as providing services and expert knowledge for existing enterprises. We are delighted to be able to support this collaboration, which will allow companies to easily pinpoint expertise at the five universities involved. We hope that this new gateway will act as a catalyst for growth in commercialising intellectual property, which will both benefit the economy and further enhance our universities’ reputation as centres of considerable expertise."
Wales IP provides a one-stop destination for investors or companies seeking commercial applications, acting as a gateway to 95% of the region’s research. It helps researchers find intellectual property and identify areas of collaboration.
IPCoP brings together a network of Technology Transfer Officers who can identify, protect and commercialise Wales’ research, to support the Welsh economy and build an ‘innovation culture’.
In its first year of operation, IPCoP identified multiple new technologies with strong potential and secured in excess of £1.1m of translational income. The partnership has strengths in food security, energy and the environment, health and biosciences, advanced engineering and manufacture, the digital economy and creative industries.
Wales IP will benefit the five universities and their partnership companies. It also supports Welsh Government aims of driving economic growth by commercialising research and development.
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