The Enterprise Fellowships are offered to international students from all around the world who wish to undertake PhD studies at the Royal Academy of Engineering, UK. This programme supports innovative and creative entrepreneurial engineers who have demonstrated great uniqueness in engineering and wish to further improve their skills.
The program emphasis on preparing the awardee with the skills, experience, confidence, and network of expert advisers required to enable them to develop their innovation. Three types of individuals are supported by Enterprise Fellowships; recent graduates wishing to create a company, researchers wishing to spin out a company from a university or research institute, and international PhD students based in the UK, wishing to spin out or start up.
Scholarship Summary
- Level of Study: Postdoctoral
- Institution(s): Royal Academy of Engineering
- Study in: UK
- Opportunity Focus Areas: Engineering
- Program Period: One year
- Deadline:
- Stage 1: August 29, 2024 (Opens in January)
- Stage 2: October 2024
Scholarship Coverage
Enterprise Fellowships – Royal Academy of Engineering provide the recipient with the following benefits:
- Up to £75,000 equity-free startup funding grant,
- Expert business mentoring and coaching,
- 15 days of business training,
- Membership of 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.
Eligibility Criteria for Royal Academy of Engineering Enterprise Fellowships
To be eligible for Enterprise Fellowships – Royal Academy of Engineering, the following criteria are to be fulfilled:
- Required Language: English.
- Eligible Countries: All World Countries.
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 to startups: you have completed your very first university degree by 1 July 2018
- For spinouts: you are currently employed by the university
- If relevant, your PhD viva will be held no later than 30 November 2023
Please ensure you read the full list of eligibility criteria before applying.
How to Apply for Enterprise Fellowships – Royal Academy of Engineering?
The application process has two stages:
Stage one
In step one, you introduce yourself and your proposal. It will take approximately 60 minutes to complete. If you are eligible for the programme, your idea is appropriate for the type of help we provide, and you are a good fit for the programme, we will encourage you to submit a stage two application. The first stage considers if the proposal meets the program’s requirements and goals, rather than how good it is.
1. Check Eligibility
Before applying, ensure that you meet the eligibility criteria. Typically, the Enterprise Fellowship is open to:
- Researchers wishing to spin out a company from a university or research institute.
- Recent graduates who have developed an engineering innovation.
- UK-based individuals or teams.
2. Understand the Application Cycle
The Enterprise Fellowship program usually has specific application cycles. Make sure to check the deadlines for submission. These are typically listed on the Royal Academy of Engineering’s official website.
3. Prepare Required Documents
Gather all necessary documents and information, including:
- Personal and contact information.
- Detailed business plan for your innovation.
- Information about your innovation’s potential impact.
- Academic and professional background details.
- Letters of support, often from your academic institution or other relevant bodies.
- Financial information and any prior funding received.
4. Online Application Form
Applications are generally submitted through an online portal. Follow these steps:
- Register an Account: Visit the Royal Academy of Engineering’s grants management system and create an account if you don’t already have one.
- Complete the Application: Fill out the online application form with the required details. Ensure that all sections are completed accurately.
- Upload Documents: Upload all necessary documents, including your business plan, CV, and letters of support.
Stage two
The stage two application is more detailed and will consider how good the idea is, and your potential to lead a startup. You will need to provide more information about yourself, the team, the technology, and the business model – this will take you between one and three working days. This part of the application will be reviewed by a panel of experts, and if successful, you will be invited to interview.
Please note, due to the large volumes of applications, we will not be able to provide you with the Panel’s feedback on your Stage two application until the selection process is fully completed.
Key Tips for a Successful Application
- Clarity and Detail: Ensure your business plan and application are clear, detailed, and well-structured.
- Market Research: Demonstrate thorough market research and a clear understanding of your innovation’s market potential.
- Support Letters: Strong letters of support can significantly bolster your application.
- Professionalism: Maintain a professional tone and presentation throughout the application and interview process.
Resources and Support
The Royal Academy of Engineering often provides resources and workshops to help applicants. Check their website for any available support during the application process.
If you have any questions, please email the Enterprise team.
Website
To know more about Enterprise Fellowships – Royal Academy of Engineering, please visit the official website:
