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Chancellor pledges £20m for spin outs at Ïã¸ÛÁùºÏ²Ê East

21 November 2023

The Chancellor of the Exchequer Jeremy Hunt announced a £20m injection of cash towards turning university research into new companies during a visit to Ïã¸ÛÁùºÏ²Ê East, accompanied by Secretary of State for Science, Innovation and Technology Michelle Donelan.

Secretary of State Michelle Donelan stands next to Chancellor Jeremy Hunt in front of a giant globe hanging above them

The pledge came just a day before the Autumn Statement and coincided with an independent report into a review of what are called spin out companies, one way in which universities can commercialise their research.

The Chancellor, Secretary of State and the Minister for Science, Innovation and Technology Andrew Griffith were welcomed to the Ïã¸ÛÁùºÏ²Ê East campus by Prof Paola Lettieri FREng, Pro-Provost Ïã¸ÛÁùºÏ²Ê East, Dr Michael Spence, Ïã¸ÛÁùºÏ²Ê President and Provost and Ïã¸ÛÁùºÏ²Ê Business CEO Dr Anne Lane.

Photo: Secretary of State for Science, Innovation and Technology Michelle Donelan and Chancellor Jeremy Hunt stand in front of the Gaia globe artwork in the atrium of the Marshgate building at Ïã¸ÛÁùºÏ²Ê East on Queen Elizabeth Olympic Park. Credit: Kirsty O'Connor/HM Treasury


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