A SOFTWARE support programme will benefit from almost £3m of public funding, aimed at creating at least 40 high-tech businesses.

Sunderland University has secured the funding from development agency One North East.

The £2.9m will be used for the Sunderland Software City (SSC) education and innovation programme, which aims to stimulate enterprise among graduates, the sharing of knowledge and ideas, and research and development.

It is estimated that as well as creating at least 40 enterprises, the programme will create at least 47 jobs and assist 120 businesses.

John MacIntyre, the dean of applied sciences at the university, said: “A cornerstone of our project is to stimulate graduate enterprise by creating a ‘software hatchery’ to provide a dedicated support environment for small businesses to develop ideas.

“Our main objective is to stimulate companies in the region to convert ideas into marketable software products.

“Funding will support product development and knowledge transfer activity among software companies across the region. We will also provide expertise and access to intellectual property (IP) generated through the university’s research and development activities.”

One North East’s head of European and skills strategy, Lesley Calder, said: “Demand for graduates in computing remains strong and businesses are increasingly reliant on top ICT talent.

“Our support will help Sunderland Software City establish an education sector providing exceptional technical and business expertise and an infrastructure to meet the growing demands of the industry.”

The SSC education and innovation project will put enterprise into the curriculum at undergraduate and postgraduate level.

Accredited enterprise modules and specific programmes targeted at promoting and stimulating enterprise will be introduced to courses.

The university will also support graduates and academics operating as fledgling businesses by running enterprise seminars and workshops.

The university will identify opportunities to help companies in product development and convert joint research and development into software products, technologies and concepts.

The project secured £945,000 European Regional Development Fund investment to add to £1.9m from One North East.