The two universities already collaborate in fields where they have matching skills and they aim to further this by building on the work of regional partners to attract more academic researchers, private sector partners and investors into the region.
One NorthEast chief executive Alan Clarke said: ‘This partnership is a commitment by One NorthEast and the universities to explore and get the most out of the opportunities available within science related areas.
‘Science is one of the key areas of development in the region over the next 10 years, and this new partnership will act as a platform to us ensuring the effective exploitation and commercialisation of intellectual capital for the benefit of the region.
‘It will work alongside the Newcastle Science City Partnership, with Durham plugging into this focus on helping achieve the economic, social and physical regeneration of the city.’
Chris Higgins, vice chancellor of Durham University, said: ‘Durham and Newcastle universities have a number of complementary areas of scientific expertise, for example in energy and stem cells, and it would be a benefit to both universities, the region as a whole and the UK to work together and with One NorthEast to exploit this innovation for economic benefit.’
Chris Brink, vice chancellor of Newcastle University, said: ‘Newcastle University and Durham University already have a good track record of working together, and face similar issues regarding the commercialisation of science. I am therefore very pleased at us being able to take the next step by forming a trilateral partnership with One NorthEast to pursue a joint agenda for the benefit of the region.’