A new partnership has been forged to strengthen collaboration between education, business, and the government to inspire economic innovation.
The Institute of Knowledge Transfer (IKT) and the New Engineering Foundation (NEF) have joined forces as part of efforts to create business opportunities that help stimulate growth in the economy.
The IKT works with universities, colleges, businesses and the government to drive development through knowledge transfer, the process of turning technology, research, expertise and skills into innovative products and services.
The New Engineering Foundation (NEF) supports the development of science, engineering and technology education. It does this through policy advice and commissioning research studies in order to develop and deliver educational programmes and resources.
IKT and NEF CEO, Professor Sa’ad Medhat, said: “Innovation and Knowledge Transfer remain to be fundamental planks in transforming the UK’s economy. The Institute will promote collaboration between all players from academia and business and industry to public and private organisations to foster creativity and emphasise solutions that meet national needs today and in the future.”
Universities and Science Minister David Willetts commented: “The UK’s world class science and research are vital assets for growth. For us to thrive in an increasingly competitive global knowledge economy it is important to bring researchers and businesses closer together to build long term value from innovation.”