The second Emerald Fund will provide funding and business support to projects from eight of London’s universities through a consortium led by London Metropolitan University.
The London Development Agency-backed fund, Emerald II, is seeking to build on the success of the first fund which awarded grants worth nearly £800k to more than 50 proposals during its two-year lifespan and resulted in three new companies (eight in the pipeline) and the filing or expected filing of 21 patents and 23 new collaborations with businesses.
Fund manager E-Synergy, will contribute additional in-kind effort to assist with commercialisation and further support will come from the universities.
“We are delighted to have the opportunity to continue working with universities in this exciting environment,” said John White, director of E-Synergy and Coordinator of the Emerald Fund.
