UK RAEng Enterprise Fellowships 2023/2024

UK RAEng Enterprise Fellowships 2023/2024 – Apply Here. Applications are now open for the UK RAEng Enterprise Fellowship program. Interested persons should see how to apply below and the requirements.

About Royal Academy of Engineering

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Engineering matters. It underpins our daily lives, drives economic growth, plays a critical role in addressing major societal challenges and helps ensure our readiness for the future, from providing a sustainable supply of food, water and clean energy, to advancing healthcare, and keeping us safe and secure. As the UK’s national academy for engineering and technology, the Royal Academy of Engineering brings together the most talented and successful engineers – our Fellows – to advance and promote excellence in engineering for the benefit of society.

Enterprise Fellowships is a 12-month accelerator programme for creative and entrepreneurial engineers who have an impactful innovation ready to commercialise at the seed or pre-seed stage. Over the course of the year, we will equip you with the confidence, skills, experience and networks you need to bring your engineering product to market.

Benefits of RAEng Enterprise Fellowships

What we offer works – we have provided £9.2 million in grant funding to upskill over 150 Enterprise Fellows, who have gone on to create companies valued over £550 million. As a charity, we don’t take any equity, all we ask in return is your passion and determination to become part of the next generation of entrepreneurs.

You will receive:

Up to £75,000 equity-free startup funding grant,
Expert business mentoring and coaching,
15 days of business training,
Subscription to our Equality, Diversity and Inclusion Toolkit,
Access to our community of Hub Members, Academy Fellows, investors, industry experts and partners,
Flexible working space at the Taylor Centre, our physical hub,
Hub membership for life.

Requirements for RAEng Enterprise Fellowships Qualification

Broadly speaking, we support:

Researchers wishing to spinout a company from a university
Recent graduates seeking to found a startup
International PhD students (already based in the UK) wanting to spinout or startup

You meet our key eligibility criteria if:

The Technology Readiness Level (TRL) of your solution is 4 or above
Equity investment in your business is less than 500,000 GBP
Your innovation is protectable and you own or co-own the IP
Within the founding team, you own the highest equity stake in the company
You are, or have the ambition to be, the CEO or COO of the business
For startups: you are not a student or otherwise employed during our programme
In addition for startups: you have completed your very first university degree by 1 July 2017
For spinouts: you are currently employed by the university
If relevant, your PhD viva will be held no later than 30 November 2022