In 2011-12, EPSRC continued to deliver impact and enable growth through active sponsorship of its £3.3 billion portfolio of research and training, by supporting 5,500 researchers and over 9,000 PhD students. EPSRC's sponsorship is vital to a broad range of key UK sectors including the creative industries, manufacturing, healthcare and energy. Over 44 per cent of EPSRC's research portfolio is collaborative, with more than 2,000 companies and other organisations engaged in our research and training activities.
Highlights include an independent study looking at the economic benefits of mathematical sciences research in the UK, which demonstrated that maths research alone was worth over £200 billion to the UK economy in 2010 and contributed to 10 per cent of UK jobs.
A spin-out company arising from long-term EPSRC-funded research successfully raised £25 million through a share placing to invest in further research and development. Tissue Regenix hopes to create around 30 specialist jobs as a consequence and the successful fund-raising will help drive the growth and development of a full portfolio of commercial products for tissue repair.
Another potential commercial success is a new technique that paves the way for manufacturing affordable LED light bulbs. EPSRC has supported the research at the University of Cambridge which led to this innovative breakthrough for over ten years.