The Royal Academy of Engineering invites applications for its Enterprise Fellowships. These enable aspiring entrepreneurs to commercialise technology-based business ideas from academic institutions into spinout companies.

Applicants must be working in engineering departments or engineering-focused research areas at UK higher education institutions, at postdoctoral level or above. PhD students may apply, but must have received their PhD before they start the fellowship. The proposed technology must be an innovation or invention in engineering or technology.

Each Fellow is provided with up to £85,000 to enable them to spend 12 months establishing their own business. In addition to the financial support, training will be provided to develop business skills. Mentors will be allocated to each fellow to provide additional support, advice and access to their entrepreneurial and venture capital networks during the enterprise fellowship.

Closing date 01 Sep 15 (Forecast)

(The information on the website relates to last year’s scheme but remains available for reference until the 2015 call is announced: http://www.raeng.org.uk/grants-and-prizes/support-for-entrepreneurs/enterprise-fellowships).