The Royal Society Innovation Award and the Royal Society Translation Award were designed to promote innovation and fill the funding gap between scientific research and the exploitation of an idea through venture capital investment. They replaced the Brian Mercer Award for Innovation and the Brian Mercer Feasibility Award.
Who was eligible to apply?
Applicants were eligible to apply if:
- they held a PhD
- they held a substantive post in either a university or a not-for-profit research organisation in the UK at least during the duration of the award.
What was the scheme’s value and tenure?
The scheme provided up to £250,000 (including VAT) for a maximum duration of 24 months.