Bidding open for multi-million pound uni fund

 Universities across the country can now bid for part of a £100 million pound fund towards investing in research collaborations.

Universities across the country can now bid for part of a £100 million pound fund towards investing in research collaborations.

 David Willetts, the Universities and Science Minister, said his department is now welcoming applications for the Research Partnership Investment Fund which is open to all higher education establishments in the UK and aims to encourage agreements between businesses, charities and universities.

 An estimated £10 million to £35 million for every project will be up for grabs, but universities have to show that they can source in double the amount of money in private investment at the minimum.

Those who are awarded a sum of the cash can use it to invest in long-term capital schemes designed to attract private funding, which could benefitLeedsstudents if the city's two universities are successful in securing funding.

 "Collaboration between universities, charities and industry is vital for our economy, and attracts significant private investment in our world leading research base. The new £100 million Research Partnership Investment Fund will bring together leading institutions and organisations," said Minister for Universities and Science David Willetts.

The Higher Education Funding Council forEnglandhas been appointed to oversee the fund.

 Copyright Press Association 2012