University of South Wales Research and Business Engagement Impact Investment Scheme (I2S)

University of South Wales Research and Business Engagement Impact Investment Scheme (I2S)

Document Purpose The Purpose of this document is to provide guidance notes to support the (I2S). The notes support both the investment application process, the use of investment and access to other forms of support to promote and generate impact. Contact Information If you have any questions about the Scheme with regards to the application form, guidance notes, or the application process in general, please contact Research and Business Engagement (RBE). Impact Investment Scheme Co-ordinator Miss Donna March Knowledge Transfer Officer Research & Innovation Services Research and Business Engagement 8 Forest Grove Treforest Campus Ext. 82776 donna.march@southwales.ac.uk http://research.southwales.ac.uk http://business.southwales.ac.uk Page 1

1. Why are we launching an Impact Investment Scheme? In recent years, the government has placed increasing emphasis on the need for evidence of economic and social returns from its investment in research and in the current competitive climate for research funding academics are challenged with maximizing and demonstrating the impact of their research and expertise. Research Councils UK (RCUK) defines impact as 'the demonstrable contribution that excellent research makes to society and the economy'. This includes: Fostering global economic performance, and specifically the economic competitiveness of the United Kingdom Increasing the effectiveness of public services and policy Enhancing quality of life, health and creative output The University of South Wales is renowned for its applied research and is committed to being a catalyst for economic growth and wider benefits to society by taking an active role in transforming lives, economies and communities through accessible, distinctive and responsive education, innovation and engagement. The University has ambitious targets for research and innovation with key performance indicators to significantly increase strategic partnerships, research grants and contracts, and generate surplus for re-investment. This new impact investment fund will support staff to dedicate more time to engage with businesses and other external organisations, secure funding, undertake collaborative research, commercialise their ideas, and develop the skills and knowledge needed to maximise the impact of their research and expertise. 2. What is the (I2S)? The Research and Business Engagement (RBE) Department provides a range of support services to Faculty staff to enable them to achieve the University's mission by carrying out research and engaging with business and the community. As part of this support package, the Vice-Chancellor s Executive Board (VCEB) has approved the new (I2S) to support Faculties to maximise the economic and social impact of University research and expertise. The additional investment will enable staff to dedicate more time to engage with businesses and external organisations, secure further funding, undertake collaborative research, commercialise their ideas and develop the skills and knowledge needed to get the most out of the businesses they work with. I2S is open to all staff employed at the University on a full-time or fractional contract interested in building links with external partners (except hourly paid lecturers). The purpose of the Scheme is: To strengthen relationships with strategically important businesses To develop new business-led research, innovation and commercial projects To strengthen staff skills and capabilities to work with businesses The Scheme will look to support well defined proposals which demonstrate the strategic relevance and commercial opportunity of the project with clearly stated and measurable outcomes. All projects supported by the scheme will support the University Strategic Plan, Academic Plan, Engagement Plan and Research Strategy. Applications will be assessed by an Advisory Panel. The Panel consists of nominated representatives from each Faculty and from the Research and Business Engagement team. The role of the Panel is to ensure eligible, high Page 2

quality applications benefit from Impact Investment Scheme (I2S) funding in order to achieve the objectives of the Scheme. Applications will be assessed on how well the proposal aligns with and will deliver tangible outcomes in the following areas: Institutional and Faculty/Departmental strategic plans and in particular CPI5 Increase in research grants and contracts and CPI6 Increase in strategic public and private partnerships Relevant Welsh Government Policy Sectors, Science for Wales Grand Challenge Areas and R&D Priorities 1 Impact Investment Scheme aims A general principle is that each investment will lead to at least one successful funding submission or commercial proposal. Funding will be paid upon completion and once all required documentation has been received. Applicants may also be asked to participate in future marketing and publicity campaigns. Where appropriate ethical approval will be required from your Faculty Ethics Champion. If you are unsure please contact your faculty champion for advice. The Scheme cannot be used to subsidise research, consultancy, training, or provision of a service due to State Aid restrictions. 3. What does the scheme support? I2S comprises three types of investment: Strategic Partnership Investment; Business-led Research Collaboration Investment; Commercial Feasibility Investment. Applications for all investment awards will be assessed on how well the proposal will deliver outcomes against: Key challenge areas: o Life sciences and health o Low carbon, energy and environment o Advanced engineering and materials o ICT and Digital Economy Institutional and Faculty/Departmental strategic plans and targets: o CPI5 growth in research, grants and contracts income from 15m to 30m by 2020 o CPI6 growth in strategic public and private partnerships from 4m to 8m by 2020 o CPI9 surplus for reinvestment 6% Impact Investment Scheme aims: o To strengthen relationships with strategically important businesses o To develop new business-led research, innovation and commercial projects 3.1 Strategic Partnership Investment The Strategic Partnership Investment aims to develop collaborative partnerships by supporting additional costs for a member of staff to engage with and undertake short term placements in public, private and third sector organisations in order to develop a common long term goal to work together. 1 Welsh Government Policy Sectors, Science for Wales Grand Challenge Areas and R&D Priorities Page 3

Up to 5,000 is available to support strategic partnerships leading to increased engagement through collaborative research, commercial activity or student placements. Partners may include but are not limited to businesses, public sector bodies or NGOs, in the UK or internationally. The Scheme will look to support applications which are multidimensional and significant in terms of mutual value: Are multi-faculty, multi-disciplinary Align with Faculty targets Are strategic and focus on organisations with which the Faculties wish to develop or further an ongoing working relationship e.g. Anchor Companies The award will support additional costs for a member of staff and includes a component for replacement teaching costs and travel and subsistence which must be detailed in advance. It cannot be used to subsidise research, consultancy, training, or provision of a service due to State Aid restrictions. It is intended that links will be developed for such activities to be undertaken during future collaboration where suitable. 3.2 Business-led Research Collaboration Investment The University recognises that a great deal of time, research and planning is required to develop a high quality funding proposal. Up to 6,000 is available to support proposals that will develop business orientated research or knowledge transfer proposals leading to an application for collaborative funding. The award will support additional costs for a member of staff to work on a specific funding call and includes a component for e.g. replacement teaching costs, travel and subsistence expenses, consultancy services which must be detailed in advance. The Scheme will look to support applications which have: A clear business case Focus on collaborative R&D USW can be lead or partner A project value (to USW) of >= 50k (minimum of 50k) Projects will be expected to involve one or more external industrial partners and to generate proposals for significant external funding e.g. KTP, Horizon 2020, Innovate UK, Welsh Government or industry sponsors. 3.3 Commercial Feasibility Investment The Commercial Feasibility Investment will provide up to 10,000 to support business development of a commercial service or product. The investment could be used to develop the business case for your idea, and if necessary a technical development plan to be used to support applications for larger amounts of grant funding or commercial investment. The Scheme will look to support proposals which represent an important step in moving a commercial idea forward. Before applying, you must contact the Impact Investment Scheme Co-ordinator to discuss your idea so that a member of the RBE team can be allocated to support you to develop your idea and funding proposal. Page 4

Examples of eligible activities include but are not limited to: Business case development: initial idea evaluation; market research; technical feasibility; route to market Investment in equipment or commercial software licenses in order to develop a commercial service Managing intellectual property (IP): IP searches and registration Proof of concept projects to demonstrate a commercial service or technology Investment in training accreditation to offer a commercial service Investment in marketing activities to generate interest in a commercial offering Eligible expenditure includes e.g. replacement teaching costs, travel and subsistence, consultancy services, equipment, consumables, IP management which must be detailed in advance. It is expected that external independent experts will be used to support commercial, market or technical feasibility projects. 4. How does it work? 4.1 When can you apply? The Impact Investment Scheme was launched on 6 th August 2015. The Scheme will be run as a rolling call for applications with the Advisory Panel meeting regularly to assess proposals (every 6-8 weeks). The first Call opens for applications on Monday 10 th August 2015 and briefing events for potential applicants will be held by the RBE Office during the first week of September 2015. The deadline for first Call applications is noon on Friday 18 th September 2015. Applications will be considered by the Advisory Panel the following week and applicants will be informed of the decision on 1 st October 2015. For those who are unable to meet this initial call the next call for proposals is expected to happen around November 2015. 4.2 Who can apply? You can apply to the Impact Investment Scheme if you are employed at the University on a full-time or fractional contract (excluding hourly paid lecturers). 4.3 What can you apply for? I2S will fund Directly Incurred Costs, under the following sub-headings: Replacement Teaching Costs based on the current HPL rate of circa 55.00. Travel & Subsistence UK and Overseas - expenses associated with the project should be based on University approved rates. Estimates for UK and overseas travel and subsistence e.g. mileage x mileage rate/air travel x no of journeys. Consultancy services this will be fees paid (including VAT) to organisations or persons outside the University for work on behalf of the project. IP management (including VAT). Cost of equipment, consumables (including VAT). 4.4 Submitting your application 1. Before applying, you are encouraged to discuss your idea with the RBE Office for business development support to advise on completing the Application Form. 2. Read the Application Form Guidance notes in Annex 1 of the Application Form before you apply. Page 5

3. Discuss your application with your Head of School/Representative prior to submission and you will need to obtain the support of your Head of School/Representative and Line Manager if your proposal is successful. 4. Email your completed application form by the deadline to the Impact Investment Scheme Co-ordinator donna.march@southwales.ac.uk. Hard signed copies should be forwarded in internal mail to Donna March, Research and Business Engagement, 8 Forest Grove, Treforest. You will receive an acknowledgement email on receipt of your application. 4.5 How will applications be assessed? On receipt of proposals the RBE Office will check that your application is complete and that you are eligible to apply for funding under this Scheme, and that the proposal fits within the scope of the Scheme. Applicants who submit proposals which do not meet these requirements will be notified that their application is unsuccessful one week after the current deadline. Compliance with all eligibility conditions does not guarantee that funding will be awarded. Applications that meet these requirements will then be submitted to the Advisory Panel and will be considered competitively based on the Assessment Criteria outlined below (Table 1). Your application should: Align with the aims of the Impact Investment Scheme Support the University and Faculty/Departmental Strategic Plans Address key challenge areas of strategic importance and R&D priorities Demonstrate clear benefits to the University Table1: Impact Investment Scheme Assessment Criteria Criteria Measure Criteria Details 1 Fit within the scope of the Scheme Project objectives and activities must be aligned with the aims of the Scheme and individual investment streams within the Scheme, challenge areas of strategic importance, and Institutional and Faculty/ Departmental strategic plans The Scheme is open to all University of South Wales employed staff except hourly paid lecturers. Projects may be undertaken with businesses, public sector bodies or NGOs, in the UK or internationally. The Scheme cannot be used to subsidise research, consultancy, training, or provision of a service due to State Aid restrictions. 2 Proposition Applications should articulate the main project objectives, deliverables, benefits, resources needed and project plan. Project objectives should be SMART: Specific, Measurable, Achievable, Realistic and Time bound. The significance and importance of the project will be considered in terms of its contribution to challenge areas of strategic importance, the development of new strategic partnerships leading to increased business engagement; business orientated research or knowledge transfer proposals leading to an application for collaborative research income and research council funding; development of a Page 6

commercial service or product leading to income generation. 3 Deliverables and outcomes Proposals must support the University Strategic Plan, Academic Plan, Engagement Plan and Research Strategy. Deliverables and outcomes should be clearly defined and measurable. Projects are expected to achieve tangible outcomes in the following areas: o Increase in research, grants and contracts income (CPI5) o Increase in number and quality of strategic partnerships in public and private sector (CPI6) o Surplus for reinvestment (CPI9) 4 Benefits to the University (short term and long term) Proposals must support the University Strategic Plan, Academic Plan, Engagement Plan and Research Strategy. Applications should demonstrate clear benefits to the University. Proposals should also consider the potential longer term and wider benefits that will be delivered such as the creation of case study material, future consultancy or involvement in knowledge transfer activities, teaching/influence on curriculum, PhD/MSc opportunities. 5 Track record The likely ability of the applicant to bring the proposed activity to a 6 Financials and other resources successful conclusion will be considered. Appropriate time allocated to the project for the main applicant and any co-applicants to achieve the proposed project. There should be a clear cost break down for the project. The budget should be realistic and appropriate to deliver the project. Proposals should explain and justify project expenditure. 4.6 What happens if you are successful? If your project is funded it must be supported by your Head of School/Representative and Line Manager. A project may not start until you have received and retuned the signed Award Letter to the Scheme Co-ordinator. The progress and outcomes of each project will be monitored and successful applicants will be required to provide a Final Report before the funding is released. Funding will be paid upon completion of your project and once all required documentation has been received. All successful applicants are also expected to act as informal mentors to at least two future applicants. 4.7 If your application is unsuccessful We consider all applications in competition with each other. If your application is not successful you can request feedback if you wish to on the reasons why. 4.8 Information and support If you need more information or support with your application please contact Donna March on extension 82776 or email donna.march@southwales.ac.uk Page 7