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Money Spinner YES Consultancy to Spin out Company Bruce Venning
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Biography Accountancy Business Management University of Nottingham: Genetics BSc University of Manchester: Yeast Molecular Biology PhD Research –Rothamsted Experimental Station Sales to Division Manager Sales & Marketing Director –Phoretix / Nonlinear Dynamics University of Nottingham: Commercial Manager TTO
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Phoretix / Nonlinear Dynamics Expanded from staff of 5 to over 60 Sales: £100k to £4m in 9 years Direct sales in the UK International network of distributors OEM deals with several multi-nationals
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Young Entrepreneurs Scheme Being a pure academic scientist –Becoming difficult What is the Impact of research? Embedded expertise is crucial –First to spot opportunities Commercialisation requires KT –KT requires people
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Entrepreneurship support mechanisms Speak to the right people as early as possible! TTO –They want your help! Identify all the help you can find –Service providers want to spend money Germinator Innovation Fellowships Business Plan competitions Venture Capitalists
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Enterprise at the University of Nottingham Entrepreneurial University of Year –UNIEI – open to all students –Training, support & incubation Strong industrial collaborations Technology Transfer Office –Development support and funding –Spin-out companies –Licensing –Consultancy Postgraduate qualifications – MSc Entrepreneurship
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The Knowledge Business Knowledge Transfer –Consultancy –Services Rendered –Branded Services –Business Unit –Spin out company –Technology Licensing
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Engagement with Industry & Commerce Encouraged by HEFCE HE – Business Interaction Survey Supported by the University Reputational benefits Strengthen external relationships Leverage research income
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University Reputation University Faculties – Schools - Departments Academics & Other University Staff ResearchTeaching Knowledge Transfer
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University Support External Work Policy Up to 50 days pa for Academics (Research & Teaching) –Nottingham University Consultants –Private Consultancy Services Rendered –Business Units –Service based Spin out Companies
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Technology Transfer Office Spin out companies Licensing technologies to industry Intellectual Property protection Legal services Funding opportunities Project management
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Commercialisation Funding Follow on Funds & EPSRC KTS Germinators: BioCity and Physical Sciences Innovation Fellowships MRC DPFS, Wellcome, Carbon Trust RCUK Business Plan Competition Lachesis Pathfinder and main investment Other investors
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Business Unit vs Spin Out Business Unit University Business Based within a Faculty –University staff –University risk –University Steering Group –Incentives controlled by University –University accounting University controlled Spin out service company Separate Legal Entity Arms length to University –Own staff –Shareholders risk –Board of Directors –Staff incentives determined by the board –Self accounting & admin Masters of own destiny
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Spin Out Company Examples Monica Healthcare –Innovation Fellowship –Medici Fellowship –RCUK Business Plan Competition winners –Lachesis / Catapult investment –Follow on investments –Regional winners of new exporters award
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Promethean Particles Offers bespoke nanoparticle design and development (feasibility studies) production (scale-up manufacture) Hot water + simple precursors + reactor Controlled nanoparticle dispersion synthesis Reactor allows continuous hydrothermal synthesis for the first time Unique Reactor Technology
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Competitive Advantage Wide variety of materials Product control –Particle size –Particle size distribution –Morphology Dispersed product for easy formulation Continuous process allowing scale-up
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Scale Up Lab scale for rapid screening Pilot scale for larger production
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Spin out Formation Work with the Technology Transfer Office –School / Faculty approval –Funding to move from Research –Understand the market –Business planning –Investment and management planning –NOTICE approval Establish business
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Personal Motivation Reputation Experience Research ImpactRelationships Income Achievements Leveraging Research Wealth Development
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Thank You
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