Royal Academy of Engineering Enterprise Fellowships 2024, UK

The Royal Academy of Engineering is a UK-based charity that aims to promote engineering to build a sustainable society and an inclusive economy. The Academy offers various programs to support excellent engineering research and talented entrepreneurs.

These programs include the Research Fellowship, which supports early career researchers to become future research leaders in engineering, the Leaders in Innovation Fellowships (LIF) program, which supports entrepreneurs from around the world to turn their engineering and technology innovations into sustainable businesses, and the Enterprise Fellowship, a 12-month program for creative and entrepreneurial engineers, providing equity-free funding, mentorship, coaching, and access to a comm.unity of engineering mentors and alumni.

The Academy is committed to nurturing bold, scalable innovations that address economic, environmental, and societal challenges, and its initiatives have supported numerous researchers and entrepreneurs in their journey to develop and commercialize engineering innovations.

Royal academy of engineering Scholarship Description:

Host University: Royal Academy of Engineering;
Host Country: United Kingdom;
Study Level: PhD Level;
Scholarship Type: Partially Funded;
Scholarship Worth: 75,000£;
Eligible Countries: International Students;
Subjects Available: Engineering;
Application Deadline: October 1^st, 2024.

The Enterprise Fellowships program at the Royal Academy of Engineering is a 12-month accelerator initiative aimed at supporting talented researchers and graduates in transforming their innovative engineering concepts into sustainable businesses.

This program is open to international students worldwide who are interested in pursuing doctoral studies at the Royal Academy of Engineering in the UK.

It provides equity-free funding, mentorship, coaching. The fellowship focuses on equipping recipients with essential skills, experience, confidence, and a network of proficient advisors necessary for advancing their innovation.

The program targets three categories of individuals: recent graduates aspiring to establish a company, researchers aiming to create a spin-off from a university or research institute, and international PhD students in the UK intending to launch or spin out a venture. The Enterprise Fellowships program is committed to nurturing bold, scalable innovations that address economic, environmental, and societal challenges.

Royal academy of engineering Scholarship Benefits:

The Enterprise Fellowships offered by the Royal Academy of Engineering come with several benefits for recipients, including:

A grant of up to £75,000 without the requirement of equity for startup funding
Access to experienced business mentors and coaches, offering expert guidance
Fifteen days of specialized business training to enhance entrepreneurial skills
Membership in a comprehensive community comprising Hub Members, Academy Fellows, investors, industry experts, and partners

The Enterprise Fellowships program is designed to encourage excellence in engineering and bring engineering innovations to the market, supporting innovative, creative entrepreneurial graduate engineers who have demonstrated exceptional innovation in engineering and wish to further develop their ideas.

Eligibility Requirements:

To be eligible for the Royal Academy of Engineering’s Enterprise Fellowships, candidates must meet specific requirements. These include having a strong command of the English language, being from any country worldwide, and fulfilling certain prerequisites.

These prerequisites include having a Technology Readiness Level (TRL) of 4 or above, not exceeding £500,000 in business equity investment, having a safeguarded innovation, and either owning or co-owning the associated intellectual property.

Additionally, the applicant should have the highest equity stake in the company and either currently hold or aspire to hold the position of CEO or COO in the business. The application process consists of two stages, with the second stage being more comprehensive, addressing aspects such as the team composition, technology details, and the business model.

The Enterprise Fellowships program at the Royal Academy of Engineering in the UK welcomes researchers from any university, no earlier than one year after graduation from their first undergraduate degree.

The program supports innovative, creative entrepreneurial graduate engineers who have demonstrated exceptional innovation in engineering and focuses on equipping the awardee with the confidence, skills, experience.

Application Process

The application process for the Royal Academy of Engineering’s Enterprise Fellowships program consists of two stages. In stage one, applicants provide a brief overview of themselves and their idea, which takes approximately 60 minutes.

This stage primarily assesses whether the idea aligns with the program’s criteria and goals. If the applicant is eligible for the program and their idea is suitable for the type of support offered, they will be invited to complete a stage two application.

In stage two, applicants are required to furnish detailed information about themselves, the team, the technology, and the business model, which may take one to three working days to complete. This stage is more comprehensive and addresses aspects such as team composition, technology details, and the business model.

Supporting Documents :

The Royal Academy of Engineering’s Enterprise Fellowships program requires specific supporting documents, which typically include the following:

Transcript: A transcript in English or a certified translation, providing full details of subjects studied and grades/marks obtained.
Research Proposal: A detailed research proposal may be required by the prospective School or Department. More information about the research proposal can be found on the university’s Research proposal webpage.
References: At least one reference from an academic referee who is in a position to comment on the applicant’s academic ability. Endorsed references will also be accepted.
Proficiency in the English Language: Non-native English speakers must provide proof of their proficiency in English. This can involve submitting scores from standardized language proficiency tests such as IELTS or TOEFL