Chancellor pledges £20m for spin outs at Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø East
21 November 2023
The Chancellor of the Exchequer Jeremy Hunt announced a £20m injection of cash towards turning university research into new companies during a visit to Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø East, accompanied by Secretary of State for Science, Innovation and Technology Michelle Donelan.
The pledge came just a day before the Autumn Statement and coincided with an independent report into a review of what are called spin out companies, one way in which universities can commercialise their research.
The Chancellor, Secretary of State and the Minister for Science, Innovation and Technology Andrew Griffith were welcomed to the Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø East campus by Prof Paola Lettieri FREng, Pro-Provost Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø East, Dr Michael Spence, Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø President and Provost and Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø Business CEO Dr Anne Lane.
Photo: Secretary of State for Science, Innovation and Technology Michelle Donelan and Chancellor Jeremy Hunt stand in front of the Gaia globe artwork in the atrium of the Marshgate building at Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø East on Queen Elizabeth Olympic Park. Credit: Kirsty O'Connor/HM Treasury
Read the full Ïã¸ÛÁùºÏ²ÊÖÐÌØÍø News story