Aimed at SMEs in the Liverpool city region and across the North of England, the idea is to help tech entrepreneurs transform their raw research ideas into real products or services. Tony McDonough reports

Small and medium-sized businesses can gain up to £10,000 worth of access to world-class technology and research facilities in a new initiative from the University of Liverpool.

Aimed at SMEs in the Liverpool city region and across the North of England, the idea is to help tech entrepreneurs transform their raw research ideas into real products or services.

The scheme has been launched by the university’s Technology Directorate and will offer eligible businesses access to world class research for anything between six months and a year.

If the preliminary research is deemed to have a positive impact or solution, the business then has an opportunity to apply for further external funding to continue its work, having avoided the initial set-up costs typically associated with research and development.

The investment scheme, known as pump-priming, is the subject of a free event in the city on Wednesday, May 23. For more information about the In the Know event, hosted by Knowledge Quarter Liverpool, click here.

Dr Duncan Robertson, head of the Technology Directorate, said: “In an increasingly competitive world, the SMEs that grow and prosper are the ones that succeed in generating high impact work that truly stands out, but to do this invariably requires them to invest capital in expensive tools and technology.

“Our shared research facilities have been supporting the work of our staff for many years and we’d now like businesses in the north of England to realise their benefits too.”

Colin Sinclair, chief executive of Knowledge Quarter Liverpool, added: “As Liverpool rapidly develops its reputation as a major hub for science, innovation and education, this is a great moment for the city’s academics to join forces with regional businesses to commercialise their ideas and deliver tangible products and services that further boost the regional economy.”

For further information about the University of Liverpool’s Technology Directorate click here.