Northern Accelerator
End-to-end support for spin-out companies. Creating high value jobs. Driving economic growth.
Northern Accelerator has developed a targeted approach to company creation. It builds on research strength and addresses key factors constraining economic activity in the North East.
It is a collaboration between Durham, Newcastle, Northumbria, Sunderland and Teesside Universities. It is funded by Research England’s Connecting Capability Fund (and previously ERDF).
The programme has transformed the commercialisation of research in the North East. Together, we are addressing regional imbalances and strengthening the region’s knowledge economy.
End-to-end support is provided throughout the commercialistion journey. From awareness raising and capacity building, through to seed investment funding.
Northern Acelerator today
Today the Northern Accelerator universities are part of a thriving innovation ecosystem. There are many spin-out businesses in innovation clusters including Newcastle Helix and NETPark. The companies access new funding routes and support networks generated through Northern Accelerator activity.
The programme received a two-year CCF extension to June 2023. This enabled Teesside University join the partnership.
We also share best practice with the SETsquared Partnership universities in southern England.
Impact
- 28 new spin-out companies created in a 3-year period
In the 5 years prior to Northern Accelerator, there was an average of less than 2 companies created each year.
- 30 experienced executives recruited to lead spin-out businesses
We embed a strong management team into companies to ensure the best chance of sustainable commercial success.
- £3.48m allocated to 87 projects
Funding is used to drive world class research closer to commercialisation
- £1.82m invested in 9 businesses from a newly created Northern Accelerator Seed Investment Fund
This has attracted a further £4.3m co-investment. The Fund acts as a cornerstone to a long-term £75m Venture Capital fund, “Venture North” now in development. It is set to transform the funding landscape for north east university spin-outs.
- 235 academics trained in entrepreneurship
Training ranges from entrepreneuership awareness-raising, through to focussed support to spin-out a business
