The Faraday Partnership initiative is named after Michael Faraday, the 19th Century physicist and chemist known for his experimental work in electricity, who maintained strong links with industry while pursuing fundamental research.
The Faraday Partnership initiative is aimed at promoting improved interactions between the UK science, engineering and technology base and industry through the involvement of intermediate organisations that have strong connections with both industry (particularly SMEs) and with academia. Examples include Research and Technology Organisations RTOs) or their analogues, universities, government agencies or private sector laboratories.
The establishment of Faraday Partnerships is intended to correct a critical weakness in the exploitation of science, engineering and technology in the UK – the lack of coherence between researchers and new product developers.
The Faraday Principles are designed to encourage closer contact and exchange between the knowledge base and business:
- to promote the flow of people, industrial technology and innovative business concepts amongst the science and technology base and industry
- to promote the Partnership ethic in industrially relevant research organizations, businesses and the innovation knowledge base
- to promote core research that will underpin business opportunities
- to promote business-relevant post-graduate and other training
The Research Councils provide up to £1M over 4 years to a Faraday Partnership on a pump-priming basis to carry out collaborative research projects to promote core research that will underpin business opportunities, to promote business-relevant postgraduate training, and to develop networks between academic research and business.
DTI provides funding of up to £1.2M over 3 years to each Faraday Partnership with the possibility of a further 2 years’ support for core infrastructure, management and the employment of Technology Translators.
Faraday Partnerships attract a combination of further support from business coupled with funding won in open competition from UK Government and Research Councils including TCS, SMART, LINK, and EU Framework Programmes and Eureka.
How to work with Faraday