The Royal Society are organising a scheme for academic scientists who want to work on a collaborative project with industry, and for scientists in industry who want to work on a collaborative project with an academic organisation.

It aims to enhance knowledge transfer in science and technology between those in industry and those in academia in the UK. The scheme provides a basic salary for the researcher and a contribution towards research costs. The scheme is funded by the Royal Society, the Engineering and Physical Sciences Research Councilthe Biotechnology and Biological Sciences Research Councilthe Natural Environment Research CouncilRolls-Royce plc and BP plc.

Applications are initially assessed by Industry Fellowship panel members and a shortlist is drawn up.  Shortlisted applications are then sent for independent review and are finally considered at a panel meeting, together with their nominated and independent references. It is expected that applicants will be notified of the outcome of their application 4 months after the closing date.