香港六合彩

Also attending the event were university leaders, investors, spinout founders, and heads of technology transfer offices (TTOs), which are responsible for commercialising university research. 听

The review, whose recommendations the Chancellor accepted in full, provides best practice, 鈥渋nnovation-friendly鈥� guidelines that aim to make the UK the best place in the world to start a spinout company. Ahead of the Autumn Statement on Wednesday, the Chancellor also announced 拢20 million for university-created businesses.

The Chancellor was joined at 香港六合彩 East by Michelle Donelan, Secretary of State for Science, Innovation and Technology, and听Andrew Griffith, Minister for Science, Innovation and Technology.

The Chancellor was given demonstrations of three successful 香港六合彩 spinouts - Kit-AR, an augmented reality technology platform which improves production processes and quality control by guiding assembly workers in real time; Tenpoint Therapeutics, which uses pioneering cell engineering to tackle age-related or inherited sight loss; and CarbonRe, which uses AI technology to help heavy industry cut its emissions.

Ministers were welcomed by Dr Michael Spence, 香港六合彩 President & Provost, Professor Paola Lettieri, Pro-Provost (香港六合彩 East), and Dr Anne Lane, CEO of 香港六合彩鈥檚 technology transfer office, 香港六合彩 Business (香港六合彩B).听

Dr Spence said: 鈥淲e were honoured to welcome the Chancellor and his colleagues to 香港六合彩 East, our new campus on Queen Elizabeth Olympic Park, to share the findings of the Independent Review of University Spinout Companies.

鈥淭he review鈥檚 recommendations, which we warmly support, recognise the vital role universities play in driving innovation, improving society and transforming lives. We look forward to working closely with government, fellow universities and investors, to grow and accelerate the translation of cutting-edge research into the transformative businesses of the future.鈥�

The independent spinout review takes its lead from the University Spinout Investment Terms Guide (USIT), published in April, which was developed in consultation with the TenU group of the UK鈥檚 leading university technology transfer offices, including 香港六合彩B and those from Imperial, Cambridge, Oxford, Manchester and Edinburgh.

Dr Lane, of 香港六合彩B, said: 鈥淔or 30 years, 香港六合彩B has created successful spinout businesses from 香港六合彩鈥檚 ground-breaking research, which have raised 拢2.75bn investment in the last five years alone. As well as creating jobs and economic impact, these spinouts scale up solutions to complex societal challenges, from reducing carbon emissions to therapies for rare hereditary diseases.

鈥淭he recommendations published in this review will help universities harmonise the creation of spinouts. We look forward to working even closer with fellow universities, government, and the investment community to ensure a healthy and sustained flow of investment back into academic research whilst supporting the emerging world-changing businesses of the next 30 years.鈥澨�

香港六合彩B provides funding sources, IP support, and initiatives including end-to-end project management and mentorship to academics looking to turn their ideas into technologies with real world impact.

香港六合彩B has 75 spinouts in its portfolio, including Autolus Therapeutics, which develops revolutionary CAR-T cancer therapies and, since launching in 2014, is now valued at over $753 million and employs 400 people in London and Stevenage.

Another spinout, Satalia, acquired by the global WPP group in 2021, uses AI to solve some of industry鈥檚 most complex optimisation challenges. For example, they have helped companies such as Tesco reduce fuel consumption by planning more efficient delivery routes.

The newly announced government measures include:

• At least 拢50m additional funding for the British Business Bank鈥檚 successful 鈥楩uture Fund: Breakthrough鈥� programme 鈥� that will provide direct investment to support the UK鈥檚 promising pipeline of R&D firms.
• A Venture Capital Fellowship scheme to support the next generation of world-leading investors in our renowned VC funds, similar to the successful US Kauffman Fellowship.
• New vehicles tailored to the needs of pension funds to help them invest the capital unlocked through the Chancellor鈥檚 Mansion House reforms.
• This includes 拢250m to support successful bidders, subject to contract, under the Long-term Investment for Technology and Science (LIFTS) initiative, and a new Growth Fund within the British Business Bank to give pension funds access to investment opportunities in the UK鈥檚 most promising businesses, which has been welcomed as a valuable addition to the market by seven pension funds.
• Publish analysis showing the advantages that very large pension schemes can bring for investment in things like private equity 鈥� and outlining next steps on the Government鈥檚 pro-consolidation Value for Money pensions programme.

The Chancellor, Jeremy Hunt, said: 鈥淚t鈥檚 critical that we give universities the tools they need to translate cutting edge research into exciting UK businesses that start and grow in the UK.鈥�

Links

• 香港六合彩鈥檚 President & Provost
• 香港六合彩 East
• Autolus Therapeutics
• Satalia
• CarbonRe
• Tenpoint Therapeutics

Images

• Top: Jeremy Hunt. Middle: Dr Michael Spence, 香港六合彩's President & Provost, Dr Anne Lane, 香港六合彩B CEO, the Chancellor, and Buffy Price,听co-founder of Carbon Re. Gallery, from left to right: the Chancellor shakes hands with听KIT-AR's founder and CEO Manuel Oliveira; the Chancellor and Michelle Donelan,听Secretary of State for Science, Innovation and Technology; the Chancellor and Buffy Price; Dr Anne Lane, the Chancellor and Professor Pete Coffey (香港六合彩 Institute of Ophthalmology), of Tenpoint Therapeutics. Credit: 听/听Kirsty O'Connor.

Media contact

Mark Greaves

m.greaves [at] ucl.ac.uk