The Enterprise Fellowships offer opportunities to students, from around the world who're interested in pursuing studies at the Royal Academy of Engineering in the UK. This program provides support to entrepreneurial engineers who have demonstrated creativity in engineering and wish to further develop their ideas.
The main focus of the program is to equip recipients with the skills, experience, confidence and access to expert advisors that will enable them to develop their innovations. The Enterprise Fellowships provide support, for three types of individuals; graduates looking to establish their company researchers seeking to launch a company based on university or research institute projects and international PhD students studying in the UK who aspire to start or spin off a business.
Summary of the Scholarship
Study Level; Postdoctoral
Institutions; Royal Academy of Engineering
Location; United Kingdom (UK)
Areas of Focus; Engineering
Duration of Program; One year
Application Deadlines;
- Stage 1; Opens, in January with a deadline on August 29 2024
- Stage 2; October 2024
Scholarship Coverage
Scholarship Benefits Offered by Royal Academy of Engineering Enterprise Fellowships;
- Up to £75,000 funding grant without any equity requirements.
- Expert guidance and support through business mentoring and coaching.
- 15 days of business training.
- Access to our toolkit promoting Equality, Diversity and Inclusion.
- Networking opportunities with Hub Members, Academy Fellows, investors, industry experts and partners.
- Flexible workspace available at the Taylor Centre (our hub).
- Lifetime membership to the Hub community.
Eligibility Criteria
To be eligible for the Enterprise Fellowships offered by Royal Academy of Engineering applicants must meet the following requirements;
1. Proficiency in language is mandatory.
2. Applicants from all countries, around the world are encouraged to apply.
Generally speaking we support individuals falling into one or both categories;
1. Researchers who aim to establish a company based on their university research work.
2. Recent graduates who aspire to initiate their startup venture.
3. PhD students, from around the world who are already located in the UK and are interested, in launching their spinout or startup.
To determine if you meet our eligibility criteria please consider the following;
1. Your solution should have a Technology Readiness Level (TRL) of 4 or above.
2. The equity investment, in your business should be than 500,000 GBP.
3. Your innovation must be protectable. You should own or co own the property (IP).
4. Among the team you need to hold the equity stake in the company.
5. You should either be currently serving as the CEO or COO of the business. Have aspirations to take on one of these roles.
6. If you are a startup you should not be a student or employed elsewhere during our program.
7. For startups it is required that you have completed your university degree by 1 July 2018.
8. If you are a spinout it is necessary that you are currently employed by the university.
9. If applicable to your situation ensure that your PhD viva will take place no than 30 November 2023.
Before applying please make sure to review the list of eligibility criteria.
How To Apply
To apply for Enterprise Fellowships at Royal Academy of Engineering follow these steps;
1. Visit the institution Website by clicking on the provided button at the end of this message.
2. Register with our system, by creating an account through the provided registration page.
3. Once logged in click on "My Applications" located in the corner and select an application form from the list of currently open programs.
4. The application process consists of two stages;
Stage one
In the stage you'll briefly introduce yourself and your idea. It should take around 60 minutes to complete. If you meet the eligibility criteria, for the program and your idea aligns with the kind of support we offer as if you're a good fit for the program you'll be invited to proceed with a stage two application. The primary focus of stage one is not on how great your idea's but rather on whether it meets our criteria and aligns with the goals of the program.
Stage two
The second stage of the application is more comprehensive and will assess both the quality of your idea and your potential to lead a startup. You'll be required to provide information about yourself, your team, technology involved and your business model. This part may take anywhere from one to three working days to complete. A panel of experts will review this section of your application. If its successful you'll be invited for an interview.
Please bear in mind that due, to the volume of applications received we won't be able to provide feedback from the panel regarding your stage two application until after the entire selection process has been completed.
If you have any inquiries or concerns please feel free to email the Enterprise team.
For information, about the Enterprise Fellowships program offered by the Royal Academy of Engineering please visit their website. You can find it by searching for "Enterprise Fellowships. Royal Academy of Engineering" online.
Source: https://enterprisehub.raeng.org.uk/programmes/enterprise-fellowships
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