Common Questions

VentureVersity is a fully-funded programme, delivered by Loughborough University as part of the Research England-funded Forging Ahead initiative, that helps University staff across the Midlands turn research into real ventures. Here are the questions we're asked most often.

Do I need a business plan or commercial experience?

No. VentureVersity is designed for researchers at the very beginning of thinking about commercialisation. You don't need prior business experience, a defined customer, or a fully formed idea — just a sense that your research might have potential.

Will I have to disclose how my research works?

No. We ask you to describe what your research can do, not how it works. This protects your IP from the very first step. Our capability-not-disclosure approach means you describe the outcome or benefit — for example "I've found a way to control gravity" — without revealing the method or mechanism. However, your submission will be shared with your University's Commercialisation Team, and if you have not already done so, you may be asked to complete the relevant IP disclosure process for your University.

What is a Fire Test?

A Fire Test is a technology-assisted market analysis developed by Commercialisation experts that every applicant receives — whether or not they're offered a place on VentureVersity. It covers potential customer groups, market opportunities, competitor products, and practical next steps — reviewed by your local Commercialisation Team.

What does the 12-week programme involve?

Successful Project Leads join a 12-week Clarity Sprint comprising short virtual learning modules on essentials such as business modelling, value proposition, customer discovery, and team formation, plus fortnightly group sessions to define, improve and refine your project. The estimated commitment is 1–3 hours per week. We'll work with you to prepare for the next stage of VentureVersity — Connect — which is focused on introducing you to potential collaborators, clients, investors and contributors.

Does my university need to be involved?

Yes — each of the 16 partner universities has a Commercialisation Team representative who screens submissions and helps determine next steps. VentureVersity works alongside your Technology Transfer Office, not instead of it.

Is there funding available?

Yes. Successful projects can access up to £10,000 in Round 1 and up to £50,000 in Round 2. The programme is fully funded — there is no cost to participate at any stage.

Who is VentureVersity for?

University staff, researchers, and technicians at any of the 16 Midlands partner universities with a research idea, method, or capability they're curious about exploring commercially. Early and uncertain is exactly where we start.

Which universities are part of this?

Loughborough University, University of Leicester, De Montfort University, Aston University, University of Birmingham, Birmingham City University, University of Nottingham, Nottingham Trent University, University of Derby, University of Lincoln, Coventry University, Harper Adams University, University of Wolverhampton, University of Warwick, Keele University, and Cranfield University — all operating under the Forging Ahead programme funded by Research England.

What happens when I submit?

We believe in being open about how we handle your submission. Here is exactly what happens:

1. We create a record of your project, held by Loughborough University solely for administering the VentureVersity programme.
2. A copy of your submission is shared with your University Commercialisation Team for their awareness.
3. Our team conducts a human review — removing personal identifiers and anything otherwise inappropriate for the next review stage — creating a sanitised version for analysis.
4. The sanitised version is processed within a secure enterprise AI environment, where inputs are not used for model training.
5. A Fire Test is conducted, developed by Commercialisation experts, providing high-level capability and market analysis relevant to your project.
6. Our team reviews the Fire Test outputs and develops Next Step Recommendations, shared with your Commercialisation Team — then shared with you alongside your VentureVersity application outcome.

For full details of how your personal data is handled, see our Privacy Notice.