Are you an Innovative entrepreneur? The Entrepreneur in Residence scheme is currently accepting applications and will be providing financial support of up to £25,000 per year. To be part of it, go through the articles and submit your application by 13 September 2023.
About the Royal Society Entrepreneur in Residence (EiR) scheme
The Royal Society Entrepreneur in Residence (EiR) scheme is part of a program called Science, Industry, and Translation. it aims to help UK universities learn more about the latest advancements in science, research, and innovation happening in industries.
This scheme gives experienced scientists and entrepreneurs the chance to spend one day a week at a university working on a special project. The goals of the project are to:
- Show university staff and students the latest research and development happening in industries and the challenges they face.
- Provide support and expert advice to help universities turn their research into real-world innovations.
- Help staff and students gain more confidence and understanding of business and entrepreneurship.
- Give recognition to the people who participate in the scheme and help them grow professionally.
- If you become part of the scheme, you will receive a salary and assistance with travel and project costs.
Eligibility
To be eligible for the Entrepreneur in Residence (EiR) scheme, you need to meet the following criteria:
- The scheme includes various fields like life sciences, physical sciences, and engineering. However, it does not cover clinical medicine.
- The scheme is open to applicants from any country, as long as they are legally eligible to work in the UK throughout the duration of the award.
- Applicants should have a background in science and engineering. This means they should have education and experience in these fields.
- Applicants must demonstrate significant experience working in science within an industrial research setting. This could include managing collaborations between universities and businesses, translating research into commercial products, or being involved in entrepreneurship activities such as starting and growing a company or securing investment.
- Applicants with experience or interest in training, coaching, or mentoring are also encouraged to apply.
- Applicants can be employed either full-time, part-time, or self-employed.
Benefit
If you are selected for the Entrepreneur in Residence scheme, you will receive the following benefits:
- The award is granted for a period of two years, giving you an extended opportunity to be part of the program.
- The scheme provides financial support of up to £25,000 per year (including VAT, if applicable).
The awarded funds can cover different aspects, including:
- Salary: You will receive an amount equivalent to 0.2 Full-Time Equivalent (FTE) of your current salary. This means you will be paid for 20% of your working time spent at the host university. However, only your basic salary will be covered during the secondment, while your employer will continue to pay national insurance and pension contributions.
- Travel and Project Costs: The scheme will cover the expenses associated with traveling to and from the host university, as well as any necessary accommodation. Additionally, project costs related to the implementation of your project plan, such as resources or equipment, can be included. You may also use the funds to attend conferences, meetings, workshops, and training sessions that contribute to the objectives of your project.
Application process
To apply for the Entrepreneur in Residence scheme, follow these steps:
- Open the Royal Society’s grant management system called Flexi-Grant®.
- If you have an account, log in using your existing credentials. If you don’t have an account yet, you will need to register on the system.
- Once you have logged in or registered, navigate to the relevant section for the Entrepreneur in Residence scheme application.
- Submit your application
Overview
Types of opportunity: Entrepreneur in Residence (EiR) scheme
Deadline: 13 September 2023
Worth: Up to a maximum of £25,000 per year
Open to: Applicants of any nationality eligible to work in the UK
Duration: Two years
Location: UK universities
Organizer: The Royal Society
Country: United Kingdom (UK)
Inquiry
Watch the Entrepreneur in Residence (EiR) scheme video: https://youtu.be/o1KOAiUaUcQ
If you have any questions, please contact industry@royalsociety.org.
Visit the official website of The Royal Society Entrepreneur in Residence (EiR) scheme
