Cornwall Council’s cabinet has agreed to invest £1.2 million to support the creation of new businesses and up to 155 jobs in the research, development and innovation sector in Cornwall.
The money will be used to lever a further investment of £18.3 million from partners, to support four innovative projects run by Falmouth University, the University of Exeter and Plymouth University.
Building a strong research and innovation sector within the Cornish economy is seen as vital for encouraging new businesses and well-paid jobs. The Council’s investment is expected to support more than 300 SMEs across Cornwall.
Bob Egerton, Cornwall Council cabinet portfolio holder for economy and planning, said: “This decision reflects our commitment to careful investment to create jobs within a sustainable economy.”
The funding from Cornwall Council will provide match funding to support higher education innovation and research projects:
Launchpad – a £8.4 million project led by Falmouth University so that it can continue its work on a proven, innovative post-graduate Incubation and Acceleration programme to create a new generation of Cornwall-based companies.
EPIC2 – An extension to the £3.8 million project led by University of Plymouth. The EPIC (E-Health Productivity and Innovation in Cornwall) project is a collaborative project seeking to help grow eHealth businesses and improve health, wellbeing and enhance the care quality by using eHealth technology.
Smartline 2 – To continue a groundbreaking research project led by the University of Exeter looking at how technology can help us live healthier and happier lives.
ATI (Acceleration Through Innovation in Cornwall and the Isles of Scilly) – funding from the Council will extend the University of Plymouth led project to supply high value, high impact interventions and intensive business support to businesses that are ‘innovation ready’ across Cornwall and the Isles of Scilly.