WHAT IS THE NEWTON FUND?
The Newton Fund is an Emerging Powers Research and Innovation Fund of £375 million over five years to support science and innovation partnerships with emerging powers.
Through the Newton Fund, the United Kingdom (UK) will use its strength in research and innovation to promote the economic development and social welfare of partner countries. The Fund forms part of the UK's Official Development Assistance (ODA) commitment and its primary focus is to develop partner countries innovation and research capacity for long-term sustainable growth.
By working together on bi-lateral and multi-lateral programs with a research and innovation focus, the UK will build strong, sustainable, systemic relationships with partner countries. This will support the continued excellence of the UK research base and innovation ecosystem and act as a golden key to unlock opportunities for wider collaboration and trade.
WHAT IS THE LEADERS IN INNOVATION FELLOWSHIP?
The Royal Academy of Engineering's Leaders in Innovation Fellowships (LIF) program aims to build capacity of researchers for entrepreneurship and commercialization of their research. A wider benefit of the programme will be the creation of international networks of innovators and technology entrepreneurs.
The program is aimed at researchers within the partner country who are in the process of developing a business proposition for their innovation. A select cohort will benefit from a focused period of training in the UK, access to expert mentors, and opportunities for international networking. In the short term, they will develop a commercialization plan for their innovation. In the long term, they will benefit from on-going support at their home institution, and access to an international network of peer innovators and mentors, in taking their commercialization plan forward.
The LIF program is an initiative under the Newton Fund of the UK government. For more information on the Newton Fund Programmes, please see www.newtonfund.ac.uk.
|Royal Academy of Engineering
||Department of Science and Technology
||Asian Institute of Management
|As the UK's national academy for engineering, it brings together the most successful and talented engineers to advance and promote excellence in engineering, for the benefit of society.
||This is the premiere science and technology body in the Philippines charged with the twin mandate of providing central direction, leadership and coordination of all scientific and technological activities, and of formulating policies, programs and projects to support national development.
||The institute is an Asian pioneer in leadership and management education. It brings its history and expertise in leadership and management training to science and innovation in the LIF program.
HOW THE FELLOWSHIP WORKS
The LIF Program is a multi-phase program to be delivered over a 12-month period from September 2015 to August 2016. It is a multi-sectoral partnership among the top institutions, in the UK and the Philippines, in the fields of science, innovation and leadership management.
The Fellowship is open to any Filipino scientist, researcher or innovator who is in the process of developing a business proposition for their technology or innovation. While the most ideal candidate is one who has had experience in testing their idea in the market, candidates who are at the cusp of commercialization will benefit greatly.
The Philippine Government's Department of Science and Technology (DOST) will invite application from their pool of scientists, researchers and inventors. One of DOST's planning councils, the Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD), shall be the DOST's primary implementing and monitoring arm throughout the program.
PHASE 1: SELECTION OF FELLOWS
A cohort of 10-15 researchers (Leaders in Innovation fellows) from the partner country will be selected based on the excellence of their research, the potential of their idea for commercialization, and their potential in taking the idea forward.
Qualified applicants shall undergo a competitive screening process that involves the submission and presentation of their idea/proposition to a panel of experts from the DOST, the Royal Academy of Engineering (RAE), and the Asian Institute of Management (AIM).
A rigorous scoring mechanism shall be used inclusive of criteria, such as:
- Excellence, novelty and/or effectiveness of the proposed innovation;
- Feasibility and market potential of the proposed innovation;
- Estimate distance to market of the proposed innovation (investment readiness);
- Track record of the candidate (including technical and non-technical capabilities);
- Entrepreneurial potential and commercial awareness of the applicant;
- Expected benefit(s) of the innovation to the Philippine's economy
From a shortlist of candidates, the top 10-15 applications shall be selected as Fellows of the program.
PHASE 2: LAUNCH PROGRAM (AIM)
The selected fellows will be invited to attend an 8-day residential program in the UK, arranged and supported by RAE. To prepare the fellows for their coursework in the UK, the fellows will undergo a 3-day preparatory course designed to help the fellows orient their commercialization effort and enhance their entrepreneurial skill set. It will cover topics such as:
- Elements of business
- Market segmentation and positioning
- Operational Feasibility
- Financial Viability
PHASE 2: UK RESIDENTIAL PROGRAMME (RAE BOOT CAMP)
After successfully completing the launch program, the fellows shall attend the 8-day residential program at RAE.
Week 1 will consist of a training program in innovation leadership, delivered by expert trainers, and based on existing training programs of the Academy for UK researchers. The course will focus on skills and knowledge in:
- Understanding the market and customer needs;
- Business modelling and developing a business plan;
- Types of investment and opportunities;
- Presenting and pitching to investors and customers;
- Marketing and marketing channels;
- Networking skills;
- Negotiation skills;
- Leadership and team building
Importantly, over the course of the week, there will be time for each fellow to develop their own business plan, while receiving guidance and mentorship from members of the Academy's Enterprise Hub. The week will conclude with an activity where researchers pitch their revised business plans.
Week 2 (days 6-8) will allow the fellows to apply the skills and knowledge they have developed in week 1 and gain direct experience of a UK-based technology driven organization. Fellows will be split into small groups and assigned to a project proposed by the organization. Facilitated by expert trainers, the project will involve tackling a genuine market challenge or opportunity faced by that organization.
During the programs, the fellows will benefit from opportunities to network with mentors, representatives of technology driven organizations, and each other.
All participants in the LIF program will automatically join an international network of innovators and mentors clustered around the Academy's Enterprise Hub.
PHASE 3: SCIENCE AND TECHNOLOGY ENTREPRENEURSHIP PROGRAM (LANDING PROGRAM)
Upon their return to the Philippines, the fellows shall undergo a landing program to contextualize their learnings abroad through simulations, lecture and case studies. For 3 days a month, for 6 months, the fellows shall attend the Science and Technology Entrepreneurship Program handled primarily by AIM. It shall cover topics such as:
- Marketing and Brand Management
- Product Design and Development
- Accounting and Finance for Start-Ups
- Forecasting and Valuation
- Fund Raising and Negotiations
- Business Set-up
The program is designed to tackle the general areas of Strategy, Innovation and Entrepreneurship, Marketing, Operations, Financial Management. It shall culminate in a Final Defense and Demo Day, where they showcase their product and pitch for their business.
Fellows who complete this program will be awarded a post-graduate certificate by the institute.
HOW TO APPLY
Fill up the online application form and submit until November 9, 2015 at 9:00 am.