The man who chaired the Northern Ireland peace talks, Senator George Mitchell, has become president of a pioneering Leeds University company which aims to develop and spin-out technology companies.

Senator Mitchell has become honorary president of Techtran, which was launched last year with Axiomlab, the UK quoted venture capital group which invests in fledgling high-tech companies. The American politician, who has won wide respect for his diplomatic efforts around the globe, was until recently a non-executive director of Axiomlab.

The launch of Techtran saw Leeds become the first university in the country to outsource technology transfer - the process of taking ideas and inventions into the marketplace.

Senator Mitchell's appointment builds on his keen interest in both academia and the creation of new technology ventures. He is the Chancellor of Queen's University, Belfast and sits on the boards of several prominent companies, including Walt Disney and Federal Express.

He is well-known for his position as chairman of the peace negotiations in Northern Ireland and in 2000 he became the chairman of the Sharm el-Sheikh International Fact Finding Committee on the crisis between Israel and Palestine. At present he is special counsel to the Washington DC law firm of Verner, Liipfert, Bernhard, McPherson and Hand.

Alan Aubrey, chairman of Techtran, commented: "I am delighted that Senator Mitchell has accepted the position of honorary president of Techtran and am sure he will prove to be a source of valuable advice and support both to ourselves and the new companies that we will help to create."

Leeds University Pro-Vice-Chancellor Professor David Hogg said: "Senator Mitchell's interest in making the most of technology and in academia will be immensely valuable in transferring university research into commercial ventures."

Techtran, which will develop and support university spin-out companies and explore licensing opportunities for intellectual property, is based at the university's Innovation Centre in Clarendon Road.