The Emerald consortium of eight London Universities has successfully secured funds from the London Development Agency to set up a pre-commercial fund (PCF).  These funds will be distributed in the form of grants to academics in the partner universities on a competitive basis to enable them to establish the commercial potential of a concept resulting from their research.  Emerald II started in Spring 2007 and will run for two years.  London Metropolitan University is the lead partner. Emerald II will take a broad perspective of commercialisable intellectual property (IP).  The fund will consider various forms of IP to cover both the ‘harder’, more technology-oriented IP assets, as well as ‘softer’ IP, which would play a central role in setting up new, expertise-based commercial entities, e.g. the creative industries.  Emerald II is worth £1.25m in total to be distributed as grant income to applicants from the London Universities. The grants will be distributed in two forms as: Mini Grants - up to £10k (typically £6k) Standard Grants - up to £40k An important element of the scheme is the commercial and entrepreneurial support the receipients will receive through the TTO & the Fund coordinators E-Synergy Limited including: Business mentoring IP and Copyright protection and advice Proof of Feasibility – equipments purchase and materials Market Analysis – external and “diy”