The University of Leeds is embarking on a partnership which could reap huge financial rewards - and further boost the region's economy.

Academics at the university are to share ideas with the business world, in what will be a first for a UK university.

Previous academic successes from the establishment have included Professor David Rhodes who saw his electronics ideas mushroom into a £280m venture called Filtronic which now employs 3,000 people.

Any business propositions generated by academics will be marketed to industry through a partnership with the company Techtran, a division of parent company Axiomlab.

Company director Alan Aubrey told BBC News Online: "Our focus will be on developing and planning the implementation of a clear market strategy by generating early contact with potential customers to secure those significant first sales."

University vice-chancellor Sir Alan Wilson said:" There is great enterprise and entrepreneurial spirit at Leeds.

"We have a solid foundation of achievement on which to build future success for ourselves, for the region and for the national economy.

"It really is a win-win way forward."