Durham and Newcastle universities, together with Regional Development Agency One NorthEast, have formed the Angel Alliance – a partnership designed to maximise the exploitation of the scientific discoveries being made at both institutions.
With a combined annual research spend of £121m, Durham and Newcastle’s partnership will help create a critical mass to attract investment.
The formal agreement, the first to be made between the two universities, will focus specifically on turning academic research into commercial success. It also aims to secure additional central government funding to support this goal.
Prof Chris Higgins, vice-chancellor of Durham University, said: ‘Durham University already works closely with Newcastle University on a number of successful partnerships where we have complementary expertise, such as stem cells, which have laid the foundation for this alliance.’
‘The new partnership will identify specific areas of science where the strengths of Durham and Newcastle universities are complementary and where, by working with One NorthEast, there may be considerable economic advantage in exploiting this intellectual capital. It will also be a powerful partnership in bidding for research and innovation funding from central government,’ added Alan Clarke, chief executive of One NorthEast.