Money Spinner YES Consultancy to Spin out Company Bruce Venning.
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Transcript of Money Spinner YES Consultancy to Spin out Company Bruce Venning.
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
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
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
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
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
The Knowledge Business
• Knowledge Transfer– Consultancy– Services Rendered– Branded Services– Business Unit– Spin out company– Technology Licensing
Engagement with Industry & Commerce
• Encouraged by HEFCE• HE – Business Interaction Survey
• Supported by the University• Reputational benefits• Strengthen external relationships• Leverage research income
University Reputation
University
Faculties – Schools - Departments
Academics & Other University Staff
Research Teaching
Knowledge Transfer
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
Technology Transfer Office
• Spin out companies• Licensing technologies to industry• Intellectual Property protection• Legal services• Funding opportunities• Project management
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
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
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
Promethean ParticlesOffers bespoke nanoparticledesign 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
Competitive Advantage
• Wide variety of materials• Product control
– Particle size– Particle size distribution– Morphology
• Dispersed product for easy formulation• Continuous process allowing scale-up
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
Personal Motivation
Reputation
Experience
Research Impact Relationships
Income
Achievements
Leveraging Research
Wealth Development