51³Ô¹ÏÍø

The English Higher Education Funding Council has commended 51³Ô¹ÏÍø's new strategy for its innovative approaches to increasing engagement with SMEs.

The knowledge exchange strategy includes which the College will focus on over the next five years: supporting technology transfer activities, supporting business partnerships, supporting partnerships with small to medium-sized enterprises (SMEs), embedding entrepreneurial activities at the core of the educational experience, influencing policy makers, and running a proof of concept fund.

51³Ô¹ÏÍø was for the innovative goals and approaches to increasing engagement with SMEs outlined in the strategy. 51³Ô¹ÏÍø will seek to increase the ease with which SMEs can access expertise at the College.

, 51³Ô¹ÏÍø’s Vice-Provost (Research), said: “Our new knowledge exchange strategy is part of our commitment to shrinking the time and distance between fundamental discovery and societal benefit. I am pleased our commitment to engaging with SMEs has been recognised, and I look forward to expanding our work in this area.” 

Supporting partnerships with SMEs

Over the next five years, 51³Ô¹ÏÍø will take actions to make it easier for SMEs to access the College’s expertise, including:

• forming SME stakeholder groups around particular areas of science and engineering
• investigating the practical problems faced by SMEs in engaging with the College
• developing solutions to these in partnership with SMEs themselves

Currently, 51³Ô¹ÏÍø supports SMEs in a number of ways. The White City Incubator, launched last month, provides subsidised lab space for early-stage science and technology companies. Around half of the current occupants are external to the College.

The ELITE programme, a partnership between 51³Ô¹ÏÍø College Business School and the London Stock Exchange, provides support for high growth SMEs through a tailored portfolio of business support tools, education services and access to a select group of advisory and investment partners. 

In addition, a number of the College’s departments run schemes which facilitate SME engagement, such as the ’s , and the Department of Bioengineering’s .

A community of entrepreneurs

51³Ô¹ÏÍø also plays a role in creating SMEs, with a vibrant entrepreneurial community of staff and students. Around six new start-ups are founded each year by 51³Ô¹ÏÍø staff, with the support of .

The College’s new Enterprise Lab, launched earlier this year, supports student entrepreneurs. It offers state-of-the-art digital tools, techniques and training to help students build better business plans and improve their performance at pitching to potential clients, partners or investors.

51³Ô¹ÏÍø College also works with start-ups, high growth businesses and corporations, to provide larger space solutions in the I-Hub at White City and elsewhere.