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

Scale Up

Lab scale for rapid screening

Pilot scale for larger production

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

Thank You