"The East of England is a region where excellent work is already taking place within higher education institutions to develop technologies of the future.

"Companies in that region have a long-standing track record of linking up with these organisations to develop and deliver world-class examples of products, process and services which are making a real impact to the economy.

"The Lord Stafford Awards are all about showcasing the benefits of this collaboration and thereby encouraging more businesses to look to the future, go to their higher education institutions and find out what support is on offer.

"In these challenging economic times, investing in innovation and seeking to be unique within the marketplace is more important than ever.

"Over the last decade, the Lord Stafford Awards in the West Midlands has unearthed some truly exceptional cases of spin-out companies from universities and traditional companies who have used innovation as the basis for their efforts.

"I look forward to being able to showcase the very best of the entrepreneurial and innovative partnership working in the East of England as well."

"We are delighted to be able to support the establishment of the Lord Stafford Awards in the East of England.

"These Awards, that build upon the previous success delivered by the region's Business and University Collaboration Awards, identify and project how the higher education sector is helping to lead the region's economy through the current economic uncertainties and prepare for future prosperity."