East Anglia to benefit from £4 million fund

* Universities and research institutes in East Anglia stand to benefit from a £4 million fund for enterprise.

The Iceni fund comprises £1 million from the Department of Trade and Industry's University Challenge Fund, with the rest from partner institutions and the HSBC bank. The institutions will be able to bid for up to £250,000 from the fund to create spin-off businesses. A second fund has been set up for the universities of Surrey, Sussex, Reading, Brunel and Royal Holloway.