www.scottish-enterprise.com

High Growth Spinout

Programme – the new

approach to Proof of

Concept

22nd September 2014

www.scottish-enterprise.com

High Growth Spinout Programme – Key Points

• Focus only on projects aimed at creating spinout companies with potential of £5M turnover or £10M investment in 5 years.

• Support for up to three years.

• Three phases of support.

• Final phase funds company rather than university project.

• Increased funding availability.

• Funding partnership between SE and SFC.

www.scottish-enterprise.com

What You Will Get

• Significant support to develop your technology from promising concept with commercial potential through to invested company.

• Expert commercial guidance and support throughout the process.

• Full support to recruit necessary experienced management – you can focus on the technology development.

• At the end of the project, seamless transition for ongoing priority support from SE’s High Growth Start-up Unit.

www.scottish-enterprise.com

High Growth Spinout Programme - Overview

TO

CoS

3 years maximum to move from Phase 1 to end of Phase 3

Host Institution Host Institution Spin-Out Company

Phase 1

Proof of Commercial

Opportunity

Phase 2

Proof of Company

Phase 3

Proof of Investment

Early Customer Engagement

Early Investor Engagement

Technology De-risking

Development and Structuring of

Commercial Opportunity

6 – 15 Months; £100k – £400k12 – 24 months; £100k - £400k3 – 12 months; £20k - £200k

Working Prototype

Development

Commercial Opportunity

Development

Customer Engagement

Investor Engagement

Company Creation

Support - Aid for Start-up Powers

License to Company

Building of Company

Advancement of Commercial

Product

Customer Traction

Private Sector Investment

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Project Development and

Appraisal

Panel Review (yes/no)

DB approved

PM/SRO/Advisor Apptd

Due Dilligence – customers,

competitive landscape, market

size, IP position

Agree Milestones

Submit Approval Paper

Due Diligence:

Phase 1 1.5-3 months; £10k max;

Phase 2 3-6 months; £15k max

Project budgets pitched at the maximum amount for each phase will only be approved in exceptional circumstances

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How to Apply

• Work your project up with ERI.

• Engage with SE Programme Manager for some early advice if required.

• Application form and further info on SE web site www.scottish-enterprise.com/poc

• Submit to one of four calls for applications per year – next deadline 21st November.