Prosperity Partnerships: EPSRC, Business and Universities.
EPSRC has a strong track record of working closely with universities and business to develop high-quality funding programmes which deliver world-leading academic research whilst also delivering impact to business and the wider economy, through a variety of different routes. We recognise that businesses are increasingly developing strategic partnerships with key universities where they have shared research challenges and complementary capabilities. The Prosperity Partnerships scheme is aimed at co-investing in such partnerships, capitalising on the existing relationships to drive forward excellent research with impact which addresses areas of national and international importance. Prosperity Partnerships will form one approach within EPSRC’s suite of activities to link business investment with our portfolio and provides an exciting opportunity for businesses and universities to co-invest alongside EPSRC.
EPSRC supports existing, strategic, research-based partnerships between business and universities by providing an opportunity for co-investment in large-scale, Technology Readiness Level 1-3, research programmes which address EPSRC’s Prosperity Outcomes Framework and the strategies of the universities and businesses involved. Consortia may be formed of multiple businesses and universities, but an existing strategic relationship must be in place between the lead business and university partners. Co-creation of the research programme is essential and EPSRC expects programmes funded through this scheme to drive forward shared research challenges, demonstrate impact including clear benefits to the business(es) involved and contribute positively to the overall strategic partnership framework which exists between the parties. As a co-investment opportunity, this scheme requires the business and university partners to commit substantial cash contributions to the programme.
Assessment criteria for Prosperity Partnership project proposals
Track record of the researchers, business R&D activities and strong evidence of strategic co-working between the partners.
Fit of the vision and ambition of the research programme to this programme
Alignment with EPSRC’s Prosperity Outcomes Framework, other national strategies, and the needs of the business partners
Additionality of the proposed work, including commitment of the partner organisations (both business and universities)
Appropriateness of the management and governance arrangements
Clarity and significance of the benefits to the business and the research base.