December 2023
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This conference looked at next steps for university spin-outs and licencing deals, and latest thinking and best practice in commercialisation of academic research.
It followed the Government’s acceptance of recommendations in the HM Treasury-sponsored Independent Review of University Spin-Out Companies, and the announcement of plans to inject a further £70m in funding with the aim of fostering more spin-out companies and supporting scale-up. It was an opportunity to discuss priorities for policy, the HE sector and their partners in light of the Review’s recomendations.
Delegates assessed evidence on how performance on deal structuring and commercialisation varies across UK HEIs, looking at examples of best practice from both within the UK and internationally, and the role that the university sector, innovators, investors and the Government can play in driving growth.
Sessions looked at success factors for the structuring of spin-outs and strategies for building sustainable and productive relationships between universities, innovators, business partners and co-investors, including benchmarks and factors affecting equity stakes that universities take within spin-outs.
Further sessions focused on the barriers academics face with regard to commercial interests, and the way forward for enabling technology transfer between research centres and their partners.
We are pleased to have been able to include keynote sessions with Robin Polding, Research Commercialisation Policy Lead, Department for Science, Innovation and Technology; and Alice Frost, Director of Knowledge Exchange, Research England.
Overall, areas for discussion included:
- the Independent Review: what is being learned for moving policy and higher education sector practice forward
- Autumn Statement 2023: the place and role of spin-outs in accelerating growth
- spin-out processes: efficiency and reducing bureaucracy - support from the founding institution - key factors for creating mutual benefit - licensing deals and key IP considerations - equity shares
- investment: the role of angel and venture funding in early-stage growth of spin-outs - options for addressing barriers academics face when pursuing commercial interests
- terms between HEIs and innovators: equity stakes in spin-out companies and their impact on further investment - assessing and agreeing fair value for both universities and their innovators
- investment and structures: the role of spin-off partners in de-risking proposals to attract investment - developing value propositions - assembling strong start-up teams - securing patient capital
- widening participation: diversifying spin-out leadership - increasing the geographic spread of successful spin-outs - encouraging investment beyond the South East - role in levelling up
The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from DBT; Defra; Department for the Economy, NI; DESNZ; DHSC; DLUHC; DSIT; FCDO; GLD; GO-Science; HMRC; IPO; MHRA; OLS; UKHSA; UKRI; UKSA; The Scottish Government; and the Welsh Government.
