UNIVERSITY academics are stepping out of their "ivory towers" to turn research into viable business opportunities, according to a report.

Science and business parks, sponsored by universities, and manufacturing centres of excellence are leading the way in getting senior scholars working with the captains of industry.

In the North-East alone, 15 spin-off ventures have been launched following work and investment in higher education.

The Department of Trade and Industry's second annual Higher Education Business Interaction Survey revealed that all the region's universities had contributed to the local economy.

This included two Durham University professors established their own biotechnology company, Creative Gene Technology, after noticing that area of industry was lacking in the North-East.

Professors Toni Slabas and Keith Lindsay pooled their expertise in molecular and protein chemistry to develop new ways of increasing crop yield.

The University of Teesside's Virtual Reality Centre was also established as a centre of excellence to support technology transfer activity with small and medium-sized enterprises in the region.

The University of Sunderland has tried to retain graduates in the region. The college earned research contracts with business totalling more than £1.1m and £600,000 from consultancy.

Lord Sainsbury, Science and Innovation Minister, said: "Our vision is to see more products invented in Britain, developed in Britain and made in Britain. The results show that we are delivering on that vision, creating more spin-off companies than ever before and more wealth for the UK."