Royal Society Entrepreneur in Residence (EiR) Scheme: Bridging Science and Industry

The Royal Society Entrepreneur in Residence (EiR) scheme offers a unique opportunity for experienced industrial scientists and entrepreneurs to collaborate with UK universities. This program aims to foster innovation and bridge the gap between academic research and industrial application. By bringing real-world industry challenges and business insights into university settings, the EiR scheme helps students and staff better understand the practical side of science and entrepreneurship.

Understanding the Royal Society Entrepreneur in Residence Scheme

The EiR scheme is part of the Royal Society’s Science, Industry and Translation program. Its main goal is to increase awareness within UK universities about cutting-edge industrial science, research, and innovation. The program allows highly experienced industrial scientists and entrepreneurs to dedicate one day per week to a university. During this time, they work on specific projects designed to achieve several key objectives.

These objectives include exposing university staff and students to the latest industrial research and development, as well as the scientific challenges faced by businesses. The scheme also aims to provide support and expert advice to help universities translate their research into practical applications and foster innovation. Furthermore, it seeks to build confidence and understanding of business and entrepreneurship among university members. Finally, the program offers career recognition and professional development support to the award holders themselves.

Benefits and Funding for Award Holders

The Royal Society EiR awards are granted for a period of two years. The program provides funding of up to £25,000 per year. This amount is intended to cover various costs associated with the award holder’s involvement.

The funding includes a salary equivalent to 0.2 Full-Time Equivalent (FTE) of the award holder’s current salary. This allows them to spend 20% of their working time at the host university. The award covers the award holder’s basic salary during this secondment period, while their employer continues to handle national insurance and pension contributions. Additionally, the funding supports travel and project expenses for the award holder to commute to and from their host institution. Accommodation costs may also be covered if necessary. Project expenses that help achieve the project’s goals are eligible, as is funding for conference attendance, workshops, and training.

Eligibility Criteria for Applicants

The Royal Society EiR scheme is open to applications across all areas of the life and physical sciences, including engineering. However, clinical medicine is excluded from the program. Applicants can be of any nationality, provided they are eligible to work in the UK for the entire duration of the award.

A strong background in science and engineering is required. Applicants must demonstrate substantial experience working in science within an industrial research setting. They should also possess one or more of the following: experience managing collaborations between universities and businesses, and in translating and commercializing research; experience in entrepreneurship, such as starting and growing companies or securing investment; or experience or a keen interest in training, coaching, or mentoring others. Applicants can be employed full-time, part-time, or be self-employed.

Application Process and Further Information

Interested individuals can apply for the Royal Society EiR scheme through the official grants portal. The deadline for applications is typically in August each year. For detailed information about the application process, specific requirements, and to access the application form, candidates should visit the Royal Society’s grants section.

More information about the Entrepreneur in Residence program, including its objectives and how it benefits both industry and academia, can be found on the Royal Society’s website. The scheme represents a valuable opportunity for experienced professionals to contribute their expertise and foster a stronger connection between scientific discovery and its real-world application.

Conclusion

The Royal Society Entrepreneur in Residence scheme is a forward-thinking initiative that strengthens the ties between academic research and industrial practice. By providing financial support and a structured framework for collaboration, it empowers experienced professionals to share their knowledge and drive innovation within UK universities. This program not only benefits the host institutions and their students but also offers significant professional development and recognition for the entrepreneurs and scientists involved, ultimately contributing to the advancement of science and technology.