Frontier IP Group Plc (LON:FIPP) has been selected as a partner in a major European project to boost research into the continent’s marine economy.
The project, known as Emporia4KT, aims to build bridges between academia, businesses and governments in order to develop ways for academic knowledge and innovations to boost activities such as fishing, shipbuilding, tourism and ocean-based energy. This ‘Blue Economy’ is an important industry for Europe, currently employing around 3.5mln people.
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Emporia4KT is also backed by €2.2mln in funding from the EU’s INTERREG Atlantic Area European Regional Development Fund, a €185mln programme set up to co-finance development projects in the bloc’s Atlantic regions.
Frontier, which specialises in commercialising technology developed by universities, is one of 14 partners from Portugal, Ireland, France, Spain and the UK who are involved in the project, which itself is being coordinated by NOVA University Lisbon, one of its partner universities in Portugal.
Its role, the company said, will be to develop tools to help its partners assess risks, cost effectiveness and appropriate routes for commercialising their intellectual properties. The group would also receive fees for its involvement in the project.
"We are delighted to be involved in this high-profile project, which gives us the opportunity to support institutions from across Europe as they seek to help the European Blue Economy benefit from the work they do", said Neil Crabb, Frontier’s chief executive.