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| Leeds Outsources Technology Transfer | |
A pioneering partnership was announced today which sees Axiomlab plc (‘Axiomlab’) is to take on the role of identifying University research with the potential for world-class products or services (excluding consultancy) and help turn these ideas into successful businesses and licensing deals. Equity in the new companies will be shared between the inventor, the University and Axiomlab. The transfer will take place as soon as possible in 2003. University Vice-Chancellor Sir Alan Wilson said: “All our universities are facing the same challenge – of making their greatest possible contribution to wealth creation and the growth of a knowledge-based economy. We believe this is a unique response to that challenge. “Our partners bring great strengths, qualities, knowledge and business acumen. Above all, they can operate in the market in a way that is simply not open to the University as a publicly-funded body with charitable status.” He added: “There is great enterprise and entrepreneurial spirit at Axiomlab will establish a new company – Techtran – to develop and support University spin-out companies and explore licensing opportunities for University intellectual property (see notes). Their team will be based at the University's Innovation Centre on Axiomlab director Alan Aubrey said: “Our focus will be on developing and planning the implementation of a clear market strategy by generating early contact with potential customers to secure those significant first sales. We will also help the entrepreneur to identify management needs and secure hires for the company once funding is in place. “Techtran will help to unlock the immense value emanating from the departments of the University for the benefit of all stakeholders, including the academic inventors and their research teams, the University and the wider community. We are delighted to be working with one of the The most well-known In 1977, he set up Filtronic to design and manufacture communications components; the mobile phone explosion saw the company go public and win recognition as one of the The University’s most successful spin-off to date was led by the Vice-Chancellor himself, who in 1988 was a professor of geography, pioneering research in the field of geographical information systems. That year, Sir Alan and partner Martin Clarke took GIS research right into the marketplace, helping businesses identify patterns in customer behaviour, through their company GMAP. Five years ago, GMAP’s automotive division was sold in a multi-million pound deal to an American company. Its consulting operation was bought by the Skipton Building Society Group in 2001. Physiologist Professor Deborah Withington has won a string of innovation awards from the DTI, Design Council, Fire Industry Council and the Prince of Wales Award for Innovation for her inventions based on new applications of directional sound. Devices using this technology – including emergency exits in public buildings, boats and planes, as well as vehicle sirens – are now being developed for the market. Under the deal announced today, inventors, the University and Techtran will each have a stake in the new 'spin-off' companies and licences. The University is to set up its own intellectual property management unit to help Techtran identify intellectual property and represent the interests of academics and the University. A number of Leeds Innovation staff will take on similar roles in the new organisations; others are to be offered University employment. It is envisaged that the University’s existing agreement with Forward will be extended by a new tripartite agreement with Axiomlab and the establishment of a new £30m venture capital fund. A further announcement on this will be made in the new year. Forward Group’s Managing Director Ralph Ecclestone said: “We welcome the University’s new arrangements for its technology transfer operations and look forward to working with Techtran to create many new spin-out business from the exceptionally strong pipeline of opportunities here at Notes to editors: Techtran and Axiomlab Techtran will be a wholly owned subsidiary of Axiomlab plc. It will have its own full time staff and will also draw on the available resources of Axiomlab. Established in April 2000, Axiomlab is a provider of capital and commercial support to young companies that hold IPR with significant capital-enhancing potential. The company has established a high calibre management team and delivered an innovative business support model on three core competencies for early stage companies: Sales, Strategy and ‘Smart hires’. Axiomlab differentiates itself by the quality and breadth of operational management expertise it brings to its investments. Typically Axiomlab invests alone or as a syndicate partner providing seed or early stage capital in return for a significant equity stake. It then uses the complementary skill sets of its management team to focus on building the businesses in which it invests. Its 'hands-on' approach to management differentiates it from other providers of seed capital and includes: recruiting key management and non-executive directors, sourcing customers and suppliers, and developing and implementing marketing, financing and IT strategies. The majority of Axiomlab’s investments are sourced through its network in the business and academic communities and the company has strong relationships with a variety of leading universities. The Company has a strong regional focus with many of its investee companies located in the North of England. Axiomlab is currently listed on AIM and has raised over £18m of funds from both high net worth individuals and blue chip institutional investors including Merrill Lynch, Prudential, Bank of Scotland, Abbey National and CGNU. To find out more about Techtran please go to: www.techtrangroup.com Forward Group Forward Group is one of the In 1999 the Group joined forces with To find out more about Forward Group please go to: www.forwardgroup.co.uk |
