A description of two Program Object Group Alias from the CRA

BIS ref:10/0413

Dear Ms Evans,

Thank you for your request for information which was received on 2 March .
Your request has been passed on to the appropriate official at the
Department of Business, Innovation and Skills to deal with.

Best wishes,
Hannah

Hannah Hodgson | Freedom of Information Advisor | Information Rights Unit
| Department for Business, Innovation & Skills | Bay 351, 66-74 Victoria
Street, London, SW1E 6SW | [1]www.bis.gov.uk

The Department for Business, Innovation & Skills (BIS) is building a
dynamic and competitive UK economy by creating the conditions for business
success; promoting innovation, enterprise and science; and giving everyone
the skills and opportunities to succeed. To achieve this we will foster
world-class universities and promote an open global economy. BIS -
Investing in our future

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Dear Lisa

Thank you for your email of 2 March 2010 where you requested information about two Program Object Group Alias from the CRA. The Reference number for this information request is 10/0413. The information you requested is enclosed.

P63 S040241 UNIVERSITY CHALLENGE

The University Challenge Fund was announced by the Chancellor of the Exchequer in March 1998 as a collaboration between the Government, the Wellcome Trust, Gatsby and UK universities.

The Fund provided early stage funding to create university spin out companies. All UK universities were invited to apply for funding with an initial funding of £45m which went into the scheme in 1999. There was a second round of funding of £15m from the same sources in 2001.

There are 19 University Challenge Funds and when the scheme started ten years ago it was a new and unproven funding mechanism. At that time, most universities had little experience of the creation of businesses from research ideas and it was not certain how this kind of funding would develop. The funding was for a fixed period with the investment in two tranches. The scheme has been successful in stimulating investment in university spin-offs. In the last ten years universities have gained experience and acquired more professional capability in research commercialisation. Several universities have created separate venture funds of their own or entered strategic partnerships with private sector investors.

The 19 Funds have enabled 57 universities to access funds to support early stage business proposals derived from research. In total there have been 607 investments made. The average investment for all funds is therefore just under £100,000. There have been 172 spin-outs that have resulted from University Challenge Funds investment and this has attracted follow on investment totalling c£337m suggesting an average of approximately £2m per spin-out. In terms of licensing, it is reported that the scheme has created 56 licenses that has earned some £8.7m in income.

P63 S040228 OST initiatives

This covers a number of smaller programmes within what was the Office of Science & Technology and now incorporated within BIS. The main ones of which are:

International Science and Innovation programme expenditure is used in support of work aimed at strengthening UK scientific expertise and innovation worldwide, informing better policymaking and leadership and using science and innovation to influence through science diplomacy. This is achieved through policy initiatives in the UK and through the Science and Innovation Network at British diplomatic missions overseas.

The government's Foresight programme helps government think systematically about the future. They use the latest scientific and other evidence, combined with futures analysis, to tackle complex issues and help policymakers make decisions affecting our future. Their work makes a critical contribution to meeting important challenges of the 21st century - such as food security, flooding, and obesity. Foresight Projects are in-depth studies examining major issues 20-80 years in the future. The Foresight Horizon Scanning Centre does short projects looking at discrete issues across the entire public policy spectrum. Further information is on their website www.foresight.gov.uk.

Science in Government programmes cover the frameworks for the management and use of science in Government; support the cross-Government community of Chief Scientific Advisers; and undertake science and engineering assurance of departments.

If you are dissatisfied with the handling of your request, you have the right to ask for an internal review. Internal review requests should be submitted within two months of the date of receipt of the response to your original letter and should be addressed to [email address]

Please remember to quote the reference number above in any future communications.

If you are not content with the outcome of the internal review, you have the right to apply directly to the Information Commissioner for a decision. The Information Commissioner can be contacted at: Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.

Yours sincerely

Information Rights Unit

Department for Business, Innovation & Skills | [email address] | Bay 351, 66-74 Victoria Street, London, SW1E 6SW | www.bis.gov.uk

The Department for Business, Innovation & Skills (BIS) is building a dynamic and competitive UK economy by creating the conditions for business success; promoting innovation, enterprise and science; and giving everyone the skills and opportunities to succeed. To achieve this we will foster world-class universities and promote an open global economy. BIS - Investing in our future

show quoted sections