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Innovation in an Uncertain World …

Innovation in an Uncertain World
Robinson College, Cambridge, UK
22nd June 2012

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  • 1. 1
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  • 3. Innovation in an Uncertain World“Empowering Innovators, Fuelling the Future” 3
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  • 5. 22nd June 2012Welcome TVC2012 Delegates,On behalf of the Executive Committee and Cambridge University Liz  Williams  Technology & Enterprise Club (CUTEC), we would like to welcome you to President  the 9th annual Technology Ventures Conference (TVC).Since the Club’s inception in 2003, CUTEC has hosted the TVC in aneffort to connect entrepreneurs with the extensive network thatexists in Cambridge. The TVC showcases tech talent from young start-ups to established companies – spanning the spectrum of technologydevelopment. The conference brings together students, academics,investors and technology professionals to create new partnerships and Vivian  Chan  inspire future innovation. Chairman  This year’s conference, themed ‘Innovation in an Uncertain World’, aims toaddress the hesitancy in the global marketplace. Speakers and panellistswill paint a picture of the investment and innovation trends evolving asnations strive to build a sustainable future. Technology plays a key role in Alexey  Bannykh  human advancement, be it through healthcare, communications or the Director  of  Innova5on  way we interact with social media platforms. Technology is undoubtedlylinked to research and development, and in the current climate ofshrinking funds, the conference will serve as a platform for debate onhow we will continue to innovate and bring new technologies to the fore.We would like to thank our speakers, workshop facilitators, exhibitors,investor panellists and you for participating in the conference and shaping Claire  Thiveyrat  its impact. We are extremely grateful to our sponsors and advisors, who Director  of  Opera3ons  have kindly supported us in all our endeavours throughout the year. Neil  Rzechorzek   Director  of  Development   5
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  • 7. ContentsTVC Schedule................................................................... 10Venue.................................................................................. 13Workshops........................................................................ 19Technology Start-up Showcase................................ 23Investors Panel............................................................... 24Diamond Exhibition...................................................... 26Speakers............................................................................. 31About CUTEC.................................................................... 43Executive Committee..................................................... 50Teams.................................................................................. 53Press Release................................................................... 62Sponsors............................................................................ 70 7
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  • 9. Innovation in an Uncertain WorldOur future economies depend on cutting edge innovation to add value to society and to solve the biggestchallenges facing our planet. The continued support of research and development is essential, particularlyat a time when resources – both financial and otherwise – are increasingly under pressure. Yet, as Hewlett-Packard’s recent acquisition of Autonomy demonstrates, big business is still keen to invest in the opportunitiesbeing developed in high-tech clusters. Economic growth depends on those who can mobilize concept torealization, and create solutions with new technologies.For its Technology Ventures Conference 2012, CUTEC will aim to address how the current financial climate isaffecting the way new technologies are being developed and brought to market. Following on from TVC2011’shighly successful ‘Open Innovation’ theme, the conference will investigate other innovation models thatsucceed during lean years. TVC2012 will debate the importance of innovation in an uncertain world by lookingat investment strategies and the infrastructure for innovation, focusing on key sectors both within the UK andthe global economy.Topics to be discussed include: • What are the specific challenges of driving innovation in the current climate? • How are successive periods of financial instability affecting high-tech clusters such as Cambridge? • How do we encourage / support innovation with limited resources? • The role of disruptive innovation in generating growth • Innovation on a budget – leveraging efficiency to maximise potential • Is the UK investing enough on innovation? What do we hope to gain from the new Enterprise Hubs?Delegates will be inspired by lively debates and keynote speeches, highlighting the level of opportunity opento entrepreneurs within high-tech clusters. The conference will act as a forum for delegates to engage andconnect, ultimately enabling new relationships through networking that may prove key in future ventures. 9
  • 10. TVC Schedule Session A - Main Auditorium | Session B - Umney Auditorium Time Session A Session B 08:00-09:00 Breakfast and Registration 09:00-09:10 President’s Welcome and Opening by Aled Jones 09:10-10:00 Morning Keynote – Julie Meyer 10:00-10:30 Speaker – Jack Lang Speaker – Ian Taylor 10:30-11:00 Coffee Break 11:00-12:00 Cloud Computing Healthcare Innovation Simon Bain Nick Sireau Richard Horning Alison Fielding Doug Clark Allan Marchington Natasa Milic-Frayling Mike Johnson (m) Greg Williams (m) 12:00-13:15 Lunch and Company Exhibitions: Technology Showcase and Diamond Exhbition10
  • 11. Breaks and Exhibitions - Dining Hall | Workshops - Breakout Rooms Time Session A Session B13:15-14:15 Afternoon Keynote – David S. Rose14:15-15:30 CUE & iTeams Pitches Workshops 1, 2, 3 (Music Room) (see pages 19-22)15:30-16:00 Coffee Break16:00-16:30 Technology Showcase Finalists’ Pitches16:30-17:00 Speaker – Elizabeth Varley Speaker – Danielle Fong17:00-18:00 Global Investment CleanTech Brigitte Baumann Colin Campbell Mark Cheng Dominic Emery Gervais Williams Sebastian Schoefer Alan Barrell (m) Martin Garratt Martin Chilcott (m)18:00-18:20 Technology Showcase Winner and Conference Close 11
  • 12. Guiding You Through the ChallengesBusiness Growth Team - Milton KeynesIn today’s global market place, you need the view from ground level and fromhorizon to horizon. You need a law firm that’s always looking out for youfrom every angle. That is why SNR Denton is here.Focused on eight industry sectors and with offices in key financial and commercial centres worldwide, we have the people,resources and vision to see what’s coming, where its coming from, and how to turn it to your advantage.At a local level, our Milton Keynes office houses a seven-strong Business Growth team. On hand to nurture your businessfrom its inception to your exit, our team will guide you through the challenges that any new business faces.For further information, please visit us today at the SNR Denton Business Growth stand.www.snrdenton.com 12© 2012 SNR Denton. SNR Denton is the collective trade name for an international legal practice. Attorney Advertising. Please see snrdenton.com for Legal Notices.
  • 13. Venue 13
  • 14. RobinsonCollege Robinson College Robinson College Birmingham Peterborough Birmingham BirminghamPeterborough Peterborough M6 A11 A14 M6 M6 Cambridge A11 A11 A14 A14 A14 Cambridge A14 A14 Cambridge A14 M1 A1(M) A14 A14 M1 A1(M) M40 M1 A1(M) Ipswich A428 Ipswich M11 Ipswich A1307 M40 M40 A428 A428 14 A1307 A1307 M11 M11 A12 14 14 Hu M25 A12 A12 Hu Hu nt in gd M25 London M25 nt nt in gd in gd on M4 London London on on Ro ad M4 M4 M3 M23 M20 Ro Ro ad ad M3 M23 M3 M20 M23 M20 From DETAILED VIEW A428 Fro From m A1303 DETAILED VIEW DETAILED VIEW A4 A42828 A1303 A1303 A1303 A1303 Madingley Road Madin A1303 A1303 A1303 A1303 gley R d 13 Madingley Road Madingley Road Madin Madin gley R gley R Traffic Barrier: d d 13 13 Rd no entry e from north erforc Grange Road Traffic Barrier: Traffic Barrier: Rd d rce R no entry no entry A1134 Wilb e from north from north erforc Road Grange Road fo M11 Grange ilber Adam A1134 A1134 Wilb s Rd W Rd M11 M11 ster Cambridge River Cam Adam Adam s Rd s Rd University Sylve ter Rd d Library ster R Hersche Cambridge l Rd Cambridge River Cam River Cam Sylves University University Sylve ad Library Library West Rd Hersch H ns Ro el erschel Rd Rd Road ad Quee 12 West Rd West Rd ns Ro GraQue Road eens Quee 12 12 Sidgwick Avenue A1134 ng Grange Road Grange Road To A603 M11 Bart Sidgwick Avenue A1134 Sidgwick Avenue A1134 on R Barton Road To To oad A603 A603 M11 Bar M11 Bart A603 A1134 ton ROBINSON COLLEGE on R Barton Road Barton Road SPORTS GROUND R oad oad A603 A603 A1134 A1134 A603 ROBINSON COLLEGE SPORTS GROUND ROBINSON COLLEGE SPORTS GROUND How to find us - by road from the M11 1. Exit at Junction 12 onto the A603 Barton Road A603 A603 How to find us - by road from the M11by road from the M11 How to signs for Cambridge along Barton Rd 2. Follow find us - 3. Exit at Junction 12 onto 1. Exit at Junction 12 onto the A603mile after entering the city turn Road 1. Less than half a Barton Roadthe A603 Barton left onto 2. Follow signs for Grange Road for Cambridge along Barton Rd 2. Cambridge along Barton Rd Follow signs 4. Less mile half a mile after entering 3. Half a thanon the left is the College 3. Less than half a mile after entering the city turn left onto the city turn left onto (distinctive red brick building, opposite the library tower) Grange Road Grange Road 4. Half a mile on the left is the College left is the College 4. Half a mile on the14 Robinson College Porters’ Lodge Conference Office brick building, opposite the library tower) (distinctive red (distinctive red brick building, opposite the library tower) Grange Rd Tel. +44 (0)1223 339 100 Tel. +44 (0)1223 332 859
  • 15. College History Birmingham M6 Peterborough A11 A14 A14 CambridgeRobinson College is the most recent addition to the 31 A14colleges which make up the University of Cambridge. It M1 A1(M) Ipswich M40owes its A428 foundation to the generosity of Sir David Robinson A1307 M11 14who founded Robinson Rentals, one of the first television A12 Hrental companies. He also owned ausuccessful racing stable nt M25 in Londonin Newmarket. His endowment is theo largest single gift gd nR M4ever accepted by the University. oa M3 M20 d M23The College has been a venue for residential and non- Fromresidential conferences and meetings since 1981 and DETAILED VIEW A428 A1303 overthe years has steadily grown inA1303 experience and reputation.A1303It is now considered by conference organisersyand delegates Madingle Road Madin gley Rto be one of the leading university conference venues in 13 dthe UK. Traffic Barrier: e Rd no entry from north erforc Grange Road A1134 Wilb M11 Adam s Rd ter Rd Cambridge River Cam Sylves University Library Hersch el Rd ad West Rd ns Ro Quee 12 Grange Road Sidgwick Avenue A1134 To A603 M11 Bar ton Barton Road Road A603 A1134 ROBINSON COLLEGE SPORTS GROUND A603 How to find us - by road from the M11 1. Exit at Junction 12 onto the A603 Barton Road 2. Follow signs for Cambridge along Barton Rd 3. Less than half a mile after entering the city turn left onto Grange Road 4. Half a mile on the left is the College (distinctive red brick building, opposite the library tower) Robinson College Porters’ Lodge Conference Office Grange Rd Tel. +44 (0)1223 339 100 Tel. +44 (0)1223 332 859 Cambridge Fax. +44 (0)1223 351 794 Fax. +44 (0)1223 315 094 CB3 9AN porters@robinson.cam.ac.uk conference@robinson.cam.ac.uk 15
  • 16. College Map16
  • 17. Dining Hall Map 17
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  • 19. Workshops 19
  • 20. Microsoft - Generation Gaps in the Digital Age Nowadays, it is common that businesses gain competitive advantage through adoption of technologies to improve their core business processes and practices. In fact, the pressure from technical advances is often painful and disruptive. Nevertheless, it is well understood and the companies plan formodernization as an essential aspect of the business lifecycle.However, recently, and rather unexpectedly, the pressure and disruption are emerging in a different guise - notfrom the engineering, or sales, or research arms of a company but from the workforce that is distinctly shapedby the digital revolution and the new social and communication practices supported by digital technologies.We are talking about generation Y, born in the ‘80s and early ‘90s. Members of this generation possess aninstinctive mastery of computing technologies that can be generally lacking in those born in earlier decades.As members of generation Y enter the workforce, they appear at odds with existing organizational structures,policies, and practices. While familiar with the latest computing devices, applications, and services, they findthe traditional work environments technologically outdated and their processes inefficient. This is particularlythe case with large corporations and other mature businesses.As businesses strive to employ the new talent and innovate, the question is how to leverage the unique skillsof generation Y. How can businesses deal with the disruption to their IT support, communication practices,and business policies? How quickly can they adjust and ensure that there is a common language betweengenerations Y, X, and those before?. At the same time, generation Y faces a challenge of finding the right fit anddemonstrating how its way of working provides value to businesses. How should individuals articulate theirpriorities and identify the best opportunities for employment? What level of compromise would they considerand what role would they want to play in reshaping the workplace?This workshop is aimed at facilitating the discussion about the generationgap that is brought about by the differences in technology adoption. Weshall invite participants to think about specific issues and brainstorm aboutthe steps we can take to ensure that different generations work alongsideeffectively and strengthen businesses. The workshop will be run by DrNatasa Milic-Frayling, Principal Researcher at Microsoft Research. Natasa isalso sitting on the TVC’s Cloud Computing panel.Microsoft is a registered trademark of Microsoft Corporation20
  • 21. County Council - From an idea to a business plan‘I have an idea, but is it a business?’, this is aquestion frequently being asked by potential orcurrent entrepreneurs. To answer this question, oneneeds to consider the problem being addressed, theeffectiveness of the solution, size of the market, theresources required, any existing substitutions, revenuemodel, and cost structure. This workshop provides agolden opportunity for participants to learn about theart of business plan creation. We will work togetheron some current challenges that CambridgeshireCounty Council is facing, in the area of transportinformation, and using them as examples to practisehow to develop an idea into a solid business plan. Tim is the Co-founder Graham Hughes is of Cambridge Transport Service Director, Solutions Ltd, working on Strategy & Development addressing issues relating at Cambridgeshire with public transport County Council. He has using today’s information responsibility for the technology and software development of Transport systems. Policy across the County. Tariq Sadiq was elected as a Cambridgeshire County Councillor in 2009, representing a Cambridge city division, and stood for parliament in 2010. He has over 20 years experience in university administration and fundraising. 21
  • 22. HM Revenue and Customs R&D Unit - Cambridge Research and Development Relief is a Corporation Tax relief that may reduce a company’s tax bill. Alternatively, some small or medium-sized companies may be able to receive their tax credit as a cash sum paid by HMRC. A business may only claim R&D relief if it is liable for Corporation Tax. HMRC R&D units provide free help and advice, to assist businesses understand if they are eligible to apply for R&D Relief, and what conditions an R&D project must meet to qualify. David Cullum and Suzanne Nield from the Cambridge HMRC R&D Unit will use this workshop to explain the scheme in detail, including what costs can be claimed for, and how claims should be submitted. Generic domain names... • are easy to remember • build credibility and market presence • improve the effectiveness • simplify SEO of PPC ad campaigns • create a valuable long-term asset www.MemorableDomains.co.uk22
  • 23. Technology Start-up ShowcaseTechnology Showcase is an essential part of the Technology Ventures Conference. It runs in parallel with keynotespeeches, the lunch break (peak visibility) and workshops throughout the conference day. Technology Showcaseprovides an opportunity for young and fresh companies to demonstrate their new and exciting technologiesto conference attendees from various backgrounds: business and technology professionals, entrepreneurs andscientists.All showcased companies are invited to compete for a prize of “The most promising start-up 2012”. The bestyoung companies are selected by conference attendees and professional investors to enter the Dragons’ Dencompetition at the final part of the conference. The prizes awarded will include £10k worth of consultancy from KPMG £3k worth of legal advice from SNR Denton Mentorship with Springboard founder, Jon Bradford A six month free membership at Ideaspace, CambridgeWe are looking for start-ups who are at the forefront of emerging technology applications, be it by the inventionof novel technology, or by opening up a niche market with careful application of an existing or recently realisedtechnology. 23
  • 24. Investors PanelGervais Williams is an award-winning equity fund manager and theauthor of Slow Finance. He has worked in the City for 25 years, 17 ofwhich were spent at Gartmore, where he managed clients’ investmentsin small to medium sized companies. He is now Managing Directorof MAM Funds plc. Gervais won Grant Thornton’s Quoted CompanyAward Investor of the Year in 2009 and 2010. He is a member of theAIM Advisory Council, and on the Board of the Quoted CompaniesAlliance. In 2012, core ideas behind Slow Finance were submitted to theInstitute for Public Policy Research for its latest investigation on howto stimulate growth in the UK. Gervais is now working on Tomorrow’s Gervais WilliamsFinance, a partnership initiative with Tomorrow’s Company, exploring Managing Director of MAMkey concepts and best ideas that will help shape the future of the Funds plcfinancial sector.Since joining TTP Ventures, Clennell has invested in electronics andtelecommunications related businesses. He is currently an observer onthe board of ZBD. Clennell was also board observer with Alphamosaic,which was sold to Broadcom in September 2004 for $123m.More recently, Clennell has helped to establish The Carbon TrustEntrepreneurs Fast Track, delivered by TTP, which supports start-upand early-stage businesses in the low carbon sector. He has first classBA and MEng degrees in Chemical Engineering from the University of Clennell CollingwoodCambridge and has completed the year long Postgraduate Course in TTP VenturesDesign, Manufacture and Management (also at Cambridge).Charles leads KPMG’s technology practice in East Anglia whichincludes one of 5 National Centres of Excellence for supportingearly stage business. Charles joined KPMG in 1989 and has focusedprimarily on the technology sector throughout his career. He has beenbased in Cambridge for the last 10 years working with a wide varietyof businesses from very early stage startup companies to fully listedinternational organisations. Charles le Strange Meakin KPMG24
  • 25. Mark Horne has a degree in Computing and Business Administration, is a fellow of the Institute of Marketing and completed the Advanced Management Program at Insead, France. Horne exited his Cambridge UK based global software enterprise (Quillion) in 2000 ( A Spin off from the enterprise sold to Oracle for c.US$75m as recently as 2011). 18 months later, in 2003 , Horne exited a “real time energy and resource management software” enterprise (Vidus), which he was both invested in and CEO of, after successfully acquiring the technology and core team from BT, through a Trade Sale to Nasdaq-listed@ Road for US$65m. Between 2005 and 2007 Horne invested in and Mark Horne advised 2 Dutch (2waytraffic and Direct Wonen) and 1 USA (BSG Inc) RenewMe Director technology companies and managed their funding and subsequent Energy4India BV Director listing onto the London Stock Exchange. The combined valuation at CTEnergy BV listing for the three small cap companies was >USD$680m. In 2007 Solar India Pte Limited Horne partnered with fellow investors and small/medium company Director high growth specialists in Holland and Monaco to target the global Magadh Biofuels Limited Cleantech market. Under the RenewMe banner Horne has started and Director invested in companies in Holland, Singapore, Cyprus, Switzerland and India. Chairman Cambridge Cleantech, co-founder and now sole Director of Cambridge Energy Forum, non-exec NW Brown and of several other companies, angel/VC and corporate finance, early stage business support, mentoring etc. Since qualifying as a chartered accountant Hugh has had a diverse career centred around finance, management and business development including 16 years in diverse roles with British Petroleum, 6 years doing international corporate finance and, since 2000, in the Cambridge technology/innovation community. Hugh now divides his time between consulting to early stage businesses and investment funds and engaging with cleantech activities and Hugh Parnell companies directly to help with their growth and development. FromChairman Cambridge Cleantech 2001 he has been involved in supporting environmental and energy technology companies as Chairman of business support organisation Cambridge Cleantech (formerly Envirotech Ltd) which inter alia made 3 promotional DVDs about energy and environmental businesses around the region for EEDA, co-founding and now running the Cambridge Energy Forum and co-founding the Cambridge Responsibility Forum. 25
  • 26. Diamond Exhibition26
  • 27. Diamond Exhibition Headquartered in Cambridge and employing 2,000 people worldwide, ARM Ltd is the world’s leading semiconductor intellectual property supplier. It designs the technology that is at the heart of advanced digital products, from wireless, networking and consumer entertainment solutions to imaging, automotive, security and storage devices. ARM’s comprehensive www.arm.com product offering includes 32-bit RISC microprocessors, graphics processors, video engines, enabling software, cell libraries, embedded memories, high-speed connectivity products, peripherals and development tools. MedImmune is the worldwide biologics business for the AstraZeneca Group. The company has about 3,500 employees and is headquartered in Gaithersburg, Maryland with facilities in Pennsylvania, California, Kentucky, the UK, and the Netherlands. Our Cambridge presence is the result of integration with Cambridge Antibody Technology in 2007. MedImmune has one of the most robust pipelines in the industry with more than 120 biologics in the areas of infection, oncology, respiratory disease, inflammation, cardiovascular/gastrointestinal disease and neuroscience. Operating out of GrantaPark, MedImmune has awww.medimmune.com major R&D site in the heart of the UK’s bioscience community in Cambridge. MedImmune has established itself as an innovator within the biotech sector as a result of several firsts: the first monoclonal antibody for an infectious disease; the discovery of the UK biotech’s first ever blockbuster drug; an important anti-TNF antibody that is now marketed by Abbott and the development and commercialization of a novel live, attenuated, needle-free influenza vaccine. MedImmune’s commitment to innovation has been demonstrated by our highly successful recent Open Innovation Event held with CUTEC in March 2011. 27
  • 28. Diamond ExhibitionCambridge Enterprise Ltd is a wholly owned subsidiary of theUniversity of Cambridge, responsible for the commercialisation ofUniversity intellectual property. Cambridge Enterprise provides accessto angel and early stage capital through the Cambridge EnterpriseSeed Funds and Cambridge Enterprise Venture Partners, and offersbusiness planning, mentoring, and other related programmes. Over www.enterprise.cam.ac.ukthe past four years, income from licensing, consultancy and equitytransactions exceeded £37 million, of which £30 million representsdistributions to University departments and academics.Cambridge Network was founded in 1998 and has tremendousexperience and knowledge of innovation and business withinCambridge. We work with companies that have created technologiesand products that have changed markets worldwide. Many industry-leading businesses were started in Cambridge and still have theirworldwide HQs here. With this strong history for excellence manycompanies (such as Pfizer, PA Consulting, Unilever et al) have offices www.cambridgenetwork.comin and around Cambridge, making the city a vibrant and dynamicplace for academic and business excellence. Recruitment Gatewayis the only single source for all graduate employment and internshipopportunities across the city and Silicon Fen.Domino Printing Sciences provides innovative solutions that deliverreal value for customers in diverse end markets. Domino has grownstrongly over the last 30 years to become a leading global supplier ofcoding solutions utilising a full range of products and technologies.The Domino Group is listed in the FTSE 250 share index on the LondonStock Exchange (share code DNO) and was named Company of theYear in the 2010 UK PLC Awards. The Group employs 2,200 peopleworldwide and sells to more than 120 countries through a global www.domino-printing.comnetwork of 25 subsidiary offices and more than 200 distributors.Domino’s manufacturing facilities are situated in China, Germany,India, Sweden, UK and USA28
  • 29. Diamond ExhibitionITRM is a privately owned IT services company who provide technicalsolutions for all your business needs. Formed in 1999, we take adynamic approach to delivering the best possible service to ourcustomers. Our objective from the outset has been to build strongrelationships with clients based upon honesty and diligence. Oursolutions will both support and transform your business. www.itrm.co.ukAt Microsoft, we’re motivated and inspired every day by how ourcustomers use our software to find creative solutions to businessproblems, develop breakthrough ideas, and stay connected to what’smost important to them. We run our business in much the same way,and believe our eight business divisions offer the greatest potential toserve our customers.They are: Online Services Division, Server and Tools Business,Microsoft Business Solutions, Microsoft Office Divisi;on, InteractiveEntertainment Business, Windows Phone Division, Windows &Windows Live Division, and Skype.Microsoft Research is dedicated to conducting both basic and appliedresearch in computer science and software engineering. Researchersfocus on more than 55 areas of computing and collaborate withleading academic, government and industry researchers to advancethe state of the art. Microsoft Research has expanded over the yearsto thirteen labs worldwide and a number of collaborative projectsthat bring together the best minds in computer science to advance aresearch agenda based on their unique talents and interests. Microsoft is a registered trademark of Microsoft Corporation 29
  • 30. Diamond ExhibitionPlastic Logic’s mission is to lead a revolution in the way peopleacquire, organize and consume information. We are using ourproprietary technology leadership in plastic electronics to createa range of products enabling immediate information access,organization and consumption. Founded in 2000 by researchersout of the Cambridge University Cavendish Laboratory, PlasticLogic has the world’s largest and most experienced team ofplastic electronics experts, with offices in Cambridge, England www.plasticlogic.com(research and development); Dresden, Germany (first state-of-the-art manufacturing facility); Moscow, Russia (second high-volume manufacturing facility currently under construction) andheadquarters in Mountain View, California (executive management,product engineering, sales and marketing). Plastic Logic has beenbacked for more than ten years by world-renowned investorsincluding Oak Investment Partners, Amadeus Capital Partners Ltd,Raptor Capital Management and most recently RUSNANO.30
  • 31. Speakers 31
  • 32. Opening Dr Aled Jones FRSA is the inaugural Director of the Global Sustainability Institute (GSI) at Anglia Ruskin University. The GSI’s research is focused around personal motivations and systems change set against the challenges of sustainability. Dr Jones also chairs a working group on climate finance within the Capital Markets Climate Initiative on behalf of Greg Barker, the Minister for Climate Change in the UK Department for Energy and Climate Change (DECC). Dr Jones was previously the Deputy Director at the University of Cambridge Programme for Sustainability Leadership and was Director of the Climate Leadership Programme and Chevening Dr Aled Jones Economics of Climate Change Programme (for the UK Foreign and Commonwealth Director Office). He was a founding member of the ClimateWise insurance principles, was Global Sustainability facilitator for the P8 Pensions Group, 12 of the world’s largest public pension Institute, Anglia Ruskin funds working collaboratively to address the problem of climate change and University investments and set up the Banking & Environment Initiative. Keynote Speakers David is CEO of Gust, the international collaboration platform for early stage angel investing. Gust powers the global entrepreneurial economy by enabling qualified startups to get financed by the smartest investors. It is the official collaboration solution of the world’s leading early stage investment associations, providing knowledge and collaboration tools supporting all aspects of deal flow management, from pitch to exit. Gust currently serves over 35,000 accredited investors, 750 angel investment networks and venture capital funds, and 180,000 early stage companies in five languages and 92 countries, with more than 5,000 new companies each month using the platform to create customized investor relations websites. David is also an Associate Founder, with Ray Kurzweil and Peter Diamandis, of Singularity University, the Google/NASA-sponsored graduate program in exponential technologies, and as its Track Chair for Finance and Entrepreneurship has established one of the first academic programs on the future David S. Rose of finance. A serial entrepreneur and active angel investor, David has founded six CEO companies and funded over 80 others. Red Herring magazine described him as Gust the “Patriarch of Silicon Alley”, and Crain’s New York Business called him “the father of angel investing in New York”. He is currently Managing Director of Rose Tech Ventures, a seed stage venture fund; Founder and Chairman Emeritus of New York Angels, the most active angel investment group on the East Coast; and Chairman of Egret Capital Partners, a middle market private equity firm.32
  • 33. Julie is the well known founder & CEO of Ariadne Capital, co-founder andManaging Partner of the Ariadne Capital Entrepreneurs (ACE) Fund, founder ofEntrepreneur Country and co-founder of First Tuesday. Julie founded AriadneCapital in 2000; Ariadne backs entrepreneurs in the digital health, mobile money,broadcast media and entertainment, and smart cities ecosystems. Ariadnepioneered the model of “Entrepreneurs Backing Entrepreneurs” as the newmodel of the financing of entrepreneurship, and Ariadne’s investment frameworkis “Ecosystem Economics”. Most recently Julie founded Entrepreneur Country, acommunity for leading and emerging entrepreneurs, investors, the media and Julie Meyercorporate partners who service the start-up industry. She sits on the Boards of Founder and CEOINSEAD, Medikidz, Vestergaard Frandsen and Jellybook. Ariadne Capital SpeakersElizabeth is a communicator, connector and entrepreneur with a background intechnology, content and events. She is Co-founder and CEO of TechHub - thespace bringing together the global technology startup community, with itsfirst launch in London’s Silicon Roundabout in 2010, and soon-to-be openingsin Latvian capital Riga (February 2012), Prague, and San Francisco. AmongstTechHub’s other projects, Elizabeth is currently working with the UK PrimeMinister’s Tech Team, the Mayor’s Office, UKTI and the Technology StrategyBoard to support tech start-ups in the UK via the Tech City project. Elizabethhas previously worked with small business advice site Smarta, with Germinationon the SHINE unconference for social entrepreneurs, and headed the team for Elizabeth Varley Co-FounderTwestival London in 2009-2010. TechHubJack Lang is a serial entrepreneur and business angel with high-tech and internetcompanies based in Cambridge, where he is Entrepreneur in Residence, Fellowand affiliated lecturer at the Judge Business School, University of Cambridge,an affiliated Lecturer at the Computer Lab and a by-fellow of and Director ofStudies in Management at Emmanuel College. Recent ventures include www.raspberrypi.org an ultra low cost computer and Moviestorm which makes 3dAnimation, and co-Founder of Artimi, (now vbeam) which is making the nextgeneration of wireless chips. Previously he was founder of Netchannel Ltd, anearly Interactive TV company which was acquired by ntl: where he became ChiefTechnologist. Before that he was founder of Electronic Share Information Ltd, Jack Langone of the first online brokerages, acquired by E*Trade Inc. He is author of “The Raspberry PiHigh Tech Entrepreneurs Handbook” (FT.Com/Prentice Hall 2001), He has otherinterests in molecular gastronomy and fireworks. 33
  • 34. Danielle Fong is a writer, advisor, inventor, engineer, scientist and a promising young entrepreneur. Forbes.com named her one the top “30 under 30” to watch in the Energy industry. Danielle is the Co-founder and Chief Scientist of LightSail Energy – a cleantech company developing compressed air energy storage systems. Since inception, LightSail has developed an influential profile in the cleantech industry, gathering experts in thermodynamics, engine development, fluid dynamics, power electronics, and control theory. The potential of its technology has attracted significant attention from such notables as Bill Gates and Vinod Khosla Amongst other projects and venture involvement, Danielle is also a mentor for the Thiel 20 Under 20 fellowship, as well as an advisor to several start-ups in greentech and physical technologies. Danielle Fong She is a regular guest contributor to the Women 2.0 blog and was a featured Co-founder and Chief Scientist speaker at the Women 2.0 PITCH Conference & Competition 2012. Danielle LightSail Energy confirmed her unconventional nature at an early age. She enrolled in Dalhousie University when only twelve years old. She graduated with focus in physics and computer science at seventeen, and was awarded a University medal. She then performed graduate work in nuclear fusion at the Princeton Plasma Physics Laboratory, but found in entrepreneurship a more profitable manner of funding her research meanwhile satisfying her ambition. Ian is a former MP who now is a non-executive director of or advisor to several companies, mainly in the technology, environment and security sectors. His hands-on experience encompasses business, Parliament and charitable organisations. He is currently a member of the UK Science and Technology Facilities Council which inter alia supports research and provides a broad range of scientific and technical expertise and facilities in space and ground-based astronomy technologies, microelectronics, wafer scale manufacturing, particle and nuclear physics, alternative energy production, Ian Taylor radio communications and radar. Ian was a Member of the UK Parliament Chairman for 23 years until standing down at the May 2010 General Election. He was Living PlanIt Minister for Science and Technology at the Department of Trade and Industry during 1994 - 1997 in a Conservative Government, and subsequently chaired the all-Party Parliamentary and Scientific Committee which includes the Parliamentary Engineering Group.34
  • 35. Cloud Computing PanelSimon is the Chief Architect of Simplexo’s software, a highly respectedfigure in the structured mark-up industry and a frequent spokesman onXML applications. He developed his software development expertiseand special interest in XML whilst with SoftQuad. There he was involvedwith the launch of XML, working closely with its creators and he helpedmanage a number of SGML and XML integration projects for variouspublishing companies throughout Europe. Subsequently, whilst developingSimplexo’s core technology, he has provided technical consultancy services,XML training and managed software projects for a number of well-known Simon Baincompanies and local authorities, including IBM and Bedford County Council. Chief ArchitectSimon was formerly a member of the Board of the UK Sun User Group prior Simplexoto that company’s acquisition by Oracle Corporation.Richard Allan Horning is a member of SNR Denton’s Corporate Practice andVenture Technology/Emerging Growth Company Group. He represents a widespectrum of technology clients, from the classic “garage-based” start-up tolarger companies in Silicon Valley and around the world. Richard specializesin counseling high technology companies in all stages of developmenton domestic and international issues, including financing growth anddevelopment; securing, protecting and licensing intellectual propertyrights; supply and distribution relationships, including antitrust and unfaircompetition considerations, and dispute resolution affecting technology Richard Horningdriven industries including international arbitration of technology focused Corporate Practice anddisputes. Horning is a past President of the International Technology Law Venture TechnologyAssociation Executive Committee of the Intellectual Property Section of SNR Dentonthe State Bar of California and in recent years he was selected by his peersfor inclusion in the International Who’s Who of Internet and E-CommerceLawyers 2009 and as Northern California Intellectual Property Super Lawyerin 2004, 2005, 2006 and 2007. 35
  • 36. Dr Natasa Milic-Frayling is a Principal Researcher at Microsoft Research Cambridge. For the past 14 years at Microsoft, she has been leading an inter- disciplinary team, exploring innovation opportunities in information and communication systems. Natasa’s passion is in redefining personal computing and engaging industry, consumers, and policy makers in a dialogue about the impact of digital technologies on the society. She advocates a principled approach to innovation that empowers individuals to shape their roles in the digital society. Fort the past 5 years, Natasa has also led research initiatives in digital preservation. She is involved in the EU SCAPE project, working on scalable cloud-based services for long term access to digital content. Dr Natasa Milic-Frayling Natasa has PhD in Mathematics from Carnegie Mellon University. Prior to Principal Researcher joining Microsoft, she was Director of Research at Claritech Corp., a spin-off Microsoft Research company from Carnegie-Mellon University in the area of information retrieval. Natasa is actively collaborating with academia. She facilitates business internships at MS Research for MBA students and serves on the Advisory Board for the Postgraduate Diploma in Entrepreneurship programme at the University of Cambridge. Doug Clark is Cloud leader for IBM UK & Ireland – his mission is to help clients seize their full business growth potential and agility using cloud. Doug has over 10 years of UK and International experience in the IT industry, having predominantly worked with clients in Communications, Utilities and Industrial Sectors. Doug is part of a global team in IBM shaping and implementing the Doug Clark IBM Cloud Strategy. He leads a specialist team of business development, Cloud Leader solution and technical architects spanning IBM to support the ambitions of IBM our customers. Prior to IBM Doug had 17 years international management experience in business consulting in PricewaterhouseCoopers and as a client in various blue chip corporations across CPG and Healthcare, holding director level roles in sales, distribution and process improvement. Doug has an MBA and a degree in Biochemistry. He is an active member of the Chartered Institute of Marketing. Greg Williams is an award-wining journalist, author and speaker. Currently Executive Editor of WIRED in the UK, he spent a decade working in New York City. He is the author of four novels and has edited a collection of sports Greg Williams writing for Penguin. He has written for numerous newspapers and magazines Executive Editor and appeared on the BBC and CNN, among others. His personal website is Wired www.howwecreatevalue.com.36
  • 37. Healthcare Innovation PanelAllan Marchington is responsible for Life Science investments at AppositeCapital. Apposite is based in London and invests on a global basis inhealthcare and related areas, including both healthcare services and lifesciences. Apposite has over $200M under management and typically leadsinvestments rounds with between $1m to $20m investments. Allan is aBoard member of Ambit Biosciences Inc., Ambrx Inc., Sotera Wireless andSerentis Ltd. Allan was formerly a medicinal chemist at Pfizer, SandwichUK. In 1997 he left Pfizer to start his own company Cambridge DiscoveryChemistry, which he grew to over 130 staff. In July 2000 Millennium Dr Allan MarchingtonPharmaceuticals Inc. bought the company in cash and Allan moved to the PartnerUSA to join the Millennium Management team with responsibility for all Apposite Capitaltechnology Investments and European operations. In 2003, he returned tothe UK joining Abingworth Management and in September 2005, Allan withhis Partners founded Apposite Capital.Mike Johnson has a background as Managing Director of two manufacturingcompanies - Soundcraft Electronics and Combined Optical Industries Limitedand latterly with Carclo plc where his remit was to network to bring newtechnology to the Group which led to the founding of a highly successfulstart-up company – Conductive Inkjet Technology Limited.He holds a First Class Honours Degree in Mechanical Engineering and hasstudied an MBA. Having worked as a consultant with MRCT for two years, hehelped to develop and gain approval for a new 10-Year Strategic Plan. Thekey change is that as well as working to commercialise the IP for the MRC, Mike JohnsonMRCT is offering this service to others. In December 2011 he was appointed Director of CorporateDirector of Corporate Partnerships to build productive partnerships with Partnershipstechnology and funding organisations both nationally and internationally. MRC TechnologyHe has a broad commercial perspective across a range of business sectorsthat help broaden thinking and approach so ensuring delivery of the MRCTstrategy. 37
  • 38. Dr Nicolas Sireau is Chairman of the AKU Society, a medical charity that works in partnership with the Royal Liverpool University Hospital to find a cure for AKU, a rare disease affecting his two sons. He is a founding member of the international AKU coalition, which brings together leading research institutions, biotech companies and patient groups from across Europe and North America in order to find a cure to AKU. He is a former Director of GenSeq, a bioinformatics company. He is a fellow of the Ashoka Fellowship of Social Entrepreneurs and of the Royal Society of Arts. Dr Sireau’s previous Dr Nicolas Sireau career was in international development, where he set up SolarAid, an Chairman award-winning social enterprise bringing solar power to Africa. He is the AKU Society author of ‘Make Poverty History: Political Communication in Action’ (Palgrave Macmillan 2009), ‘Microfranchising: How Social Entrepreneurs are Building a New Road to Development’ (Greenleaf 2011), and ‘Rare Diseases: New Models of Entrepreneurship’ (Greenleaf, forthcoming). He has written two novels - The Somali Doctrine and Black Coke - under the pen name James Grenton. Alison is the Chief Operating Officer of IP Group plc, a non-traditional venture capital company, which provides resources and expertise to transform technical innovations from UK academia into successful businesses. Ali has extensive experience in creating, investing in and building high growth science-based companies across a wide range of sectors. She co-founded Techtran Group Ltd, a commercialisation services business and was its COO when it was acquired by IP Group in January 2005. Previously, she worked at McKinsey & Co, where she consulted primarily to the pharmaceutical and health care sectors, and at Zeneca plc in R&D. Ali is a trustee of Care Alison Fielding International UK, one of the world’s three biggest aid agencies working Chief Operating Officer with 82m people in 87 countries, and also of UnLtd, a pioneer and leader in IP Group plc supporting social entrepreneurs in the UK.38
  • 39. Global Investment PanelProfessor Alan Barrell has spent almost 30 years in senior executive positionsin technology-based industries and has become one of Cambridge’s mostarticulate promoters of entrepreneurship. He is Entrepreneur in Residenceat the University’s Centre for Entrepreneurial Learning, and a VisitingProfessor at the University of Bedfordshire School of Graduate BusinessStudies, Xiamen University and the Shanghai College of Science andTechnology. More recently, he was appointed as International ResearchFellow at Laurea University of Applied Science, Entrepreneur in Residenceat McMaster University and Guest Professor at Tohoku Fukushi University. Professor Alan Barrell Entrepreneur in ResidenceProfessor Barrell currently chairs the East of England NHS Strategic Centre for EntrepreneurialInnovations Council, Health Enterprise East Limited and the Senior Advisory LearningBoard of the National Consortium of University Entrepreneurs (NACUE), Judge Business Schoolwhich has recruited more than 40,000 members since its formation less University of Cambridgethan a year ago. Professor Barrell is also a member of the investor groupsCambridge Angels and Sophia Business Angels and has previously chairedthe Cambridge Enterprise Conference and works closely with a numberof Science Parks and Innovation Centres in Cambridge, elsewhere in theUK and overseas. He received The Queen’s Award in 2006 for EnterprisePromotion and was conferred the Honour of Knight First Class, Order of theWhite Rose of Finland by the President of Finland -in Februrary 2011.Gervais Williams is an award-winning equity fund manager and the authorof Slow Finance. He has worked in the City for 25 years, 17 of which werespent at Gartmore, where he managed clients’ investments in small tomedium sized companies. He is now Managing Director of MAM Funds plc.Gervais won Grant Thornton’s Quoted Company Award Investor of the Yearin 2009 and 2010. He is a member of the AIM Advisory Council, and on theBoard of the Quoted Companies Alliance. In 2012, core ideas behind SlowFinance were submitted to the Institute for Public Policy Research for itslatest investigation on how to stimulate growth in the UK. Gervais is nowworking on Tomorrow’s Finance, a partnership initiative with Tomorrow’s Gervais WilliamsCompany, exploring key concepts and best ideas that will help shape the Managing Director of MAMfuture of the financial sector. Funds plc 39
  • 40. Brigitte is the Founder and CEO of Go Beyond Ltd., a Business Angel and serves on a number of selection and investment committees in Europe including the WEF’s Tech Pioneers and is a Member of the Präsidium of KTI, the Swiss commission for Innovation and Entrepreneurship. Brigitte is President of the Board Emeritus of EBAN, the European trade association for Business Angels and Seed Funds and chairs Young Presidents Organization’s global Angel Investing interest group. Brigitte has 15 years of experience in bringing new technologies to market in the US and Europe. She was the CEO and Brigitte Baumann Director of iWORLD Group, a VC backed, global developer of mobile content. Founder and CEO She came to iWG from American Express Corporate Services, where she held Go Beyond Ltd the position of Senior Vice President and General Manager Internet. There she launched a variety of new internet businesses including online travel (strategic partner of Expedia.com), e-Procurement, online servicing of cards and online payment. Mark is the Senior Advisor on Social Finance and UK Director of Ashoka - the world’s largest association of leading social entrepreneurs - and the Founding Director of Chelwood Capital. Since joining Ashoka’s Support Network in 2007, he has assisted many Ashoka Fellows in raising investment for social causes, in areas including micro-finance, renewable energy, conservation, healthcare and education. Mark is also advisor to several international Ashoka initiatives such as Globalizer, a program for Fellows expanding their work into multiple countries. Mark is founding Director of Chelwood Capital, Mark Cheng a social investment firm that supports mission-driven organizations. He Founding Director has more than 15 years experience in finance, having previously worked Chelwood Capital at Deutsche Bank and AMBAC Assurance. He serves as Board Member and Trustee for several social enterprises, including two set up by Ashoka Fellows - Sight of Emotion, which works with blind people, and Partnerships for Youth Empowerment (PYE) Global, a leading youth-development charity. Mark is also a business mentor for the Emerge Venture Lab, an incubator for UK student social ventures.40
  • 41. CleanTech PanelColin joined Zouk in 2007 as a Partner and leads the Renewable Infrastructureteam. With over 20 years industrial experience in the power sector, M&A andproject finance, Colin brings to Zouk a strong record in operations, energytrading, corporate finance and project finance. Colin has overseen thedevelopment of all the zSOL solar PV projects to date and sits on the boardof Enviromena Power Systems. Colin was previously CEO of KillingholmePower Group Ltd where in an 18 month period he oversaw the overhaul ofthe 680MW gas-fired power station, which resulted in a trebling in value andreturned over £300m to the lenders. Prior positions include Vice President Colin Campbellof Corporate M&A for TXU Europe where he led transactions in the Power Partnerand Oil & Gas sectors. He was also a Project Finance Manager for Mitsui ZoukBabcock, where he closed the Shandong Project in China, then the world’slargest (4GW) Independent Power Project. Colin has also advised many ofthe UK’s leading banks on their distressed investments in the power sector.Colin is a Chartered Accountant (FCA) having trained with Coopers & Lybrandand has a BSc in Chemical and Process Engineering.Sebastian is the Distribution Manager of Eight19, a Cambridge-basednext-generation plastic solar cell company that offers pay-as-you-go solar-powered lighting solutions to developing countries. Sebastian oversees thedistribution network in markets such as Kenya, Uganda, South Sudan, andSouth Africa offering solar energy at an affordable price of $1 per week.Previously, Sebastian sat on numerous committees in Cambridge includingSilicon Valley comes to Cambridge (SVC2C), the Cambridge UniversityTechnology and Enterprise Club (CUTEC), and i-Teams.Sebastian holds a Masters degree from The University of Texas at Austin, Sebastian SchoeferUSA, and a PhD in Physics from Trinity College, University of Cambridge Distribution Manager Eight19 41
  • 42. BP Alternative Energy was created at the end of 2005, and now comprises Biofuels, Wind and Corporate Ventures, with a plan to invest $8bn in Alternative Energy over 10 years. Dominic’s current responsibilities include corporate venture investment, strategy and investor relations for Alternative Energy. Dominic is a graduate of Oxford and Cambridge Universities and has worked for BP since 1986. He has held positions in BP’s Exploration and Production Division, in Asia and the Middle East, and also in the UK North Sea. Dominic has led Gas and Power business development in the UK and Dominic Emery Northern Europe, as well as running power and utility assets at BP industrial Chief Development Officer sites. Since joining Alternative Energy in 2007, he has been Commercial BP Alternative Energy Director, Chief of Staff before moving to his current role in 2012. Martin became Chief Executive of Cambridge Cleantech in 2011 and is responsible for the ambitious plans to further develop Cambridge as a leading cleantech centre in Europe and in doing so helping to promote the next wave of the Cambridge hi-tech cluster. Martin supports Cambridge Cleantech members be encouraging supply chain opportunities for companies in the sector, enabling shared experience of innovative growth businesses and providing collective services such as access to finance, government regulatory updates and links to international partners. Martin was previously the Regional Environmental Manager for IBM in the greater Martin Garratt South East, including Cambridge. Martin has also undertaken governmental Chief Executive liaison roles whilst working for Boots the Chemists and was one of the UK’s Cambridge Cleantech first City Centre Managers in Nottingham. Martin is the Founder & CEO of 2degrees – the world’s leading community for sustainable business. 2degrees helps organizations accelerate the implementation of their sustainable business strategies by enabling them to access essential information, solve problems and innovate. It does this in a unique way by harnessing the collective expertise of the 19,000 sustainable business practitioners in the 2degrees online community of practice. 2degrees positions Martin at the heart of the corporate sustainable business revolution and the transition to a low carbon economy. Through its membership and its partner organizations, 2degrees keeps him in continuous Martin Chilcott contact with corporate leaders, solutions providers and investors, as they Founder address the challenges and opportunities of this Fourth Revolution. 2Degrees Network42
  • 43. About CUTEC 43
  • 44. Cambridge is an internationally renowned hub of entrepreneurial activity, and its “Silicon Fen” moniker is well-earned. Cambridge University Technology and Enterprise Club (CUTEC) is a leading student-run organisation that seeks to nurture and enhance the entrepreneurial spirit amongst academics and students. The club is mainly run by students who are passionate about science and entrepreneurship, supported by advisors drawn from the local business community. The multicultural CUTEC membership consists of PhD students, postdoctoral researchers, MBA students and professionals, united by a shared passion for entrepreneurialism and business. Many are already actively working on establishing or growing their own businesses. Through CUTEC, members can connect with their peers, and with the wider business community, including industry experts and potential investors. CUTEC hosts a wide range of events, including talks, panel discussions, workshops, mentoring and networking sessions, helping members to acquire the necessary business insights, knowhow, soft skills and connections to make their visions happen. Every year, CUTEC organises the Technology Ventures Conference (TVC) one of the world’s largest student-led entrepreneurial conferences. In 2011, the conference attracted 400 delegates from the UK, Europe and further afield, and was keynoted by George Whitesides, the CEO and President of Virgin Galactic. The 2012 TVC is planned for June 2012, and will tackle the theme “Innovation in an Uncertain World”.44
  • 45. Recent AccomplishmentsInaugural EventCUTEC event shows Cambridge entrepreneurship thriving in an uncertain world - Student entrepreneurshipsociety kicks off 2011 with expert panel discussion.Despite economic volatility entrepreneurship is alive and thriving in Cambridge. That’s the findings of the firstCambridge University Technology and Enterprise Club (CUTEC) event of 2011, which saw approximately 100people attend a high profile panel discussion on entrepreneurship.Held on the 17th of October 2011 at the Judge Business School, the event, sponsored by top ranked Europeanpatent and trade mark attorney firm Gill Jennings and Every LLP (GJE) and global management consultingfirm, Boston Consulting Group (BCG), focused on ‘Business Opportunities in Cambridge -Entrepreneurship in avolatile climate’.Moderated by the director of Centre for Entrepreneurial Learning (CfEL), Shailendra Vyakarnam among thepanellists were six renowned entrepreneurs ● Jon Bradford (Managing director Springboard Cambridge) ● Hermann Hauser (Serial entrepreneur and venture capitalist and cofounder of Amadeus Capital) ● Simon Haworth (Founder of Team Ventures Ltd) ● Jack Lang (Serial entrepreneur, business angel and Co-Founder Artimi) ● Robert Perry (Partner at GJE) ● Andy Richards (Serial biotechnology entrepreneur and business angel)The panel discussion gave the audience insight into the challenges of driving innovation in the current climate,and, from their own experiences, the speakers were able to identify ways in which Cambridge can continue tofoster innovation and entrepreneurship during these uncertain times.Enterprise TuesdayEnterprise Tuesday is a series of free evening lectures and networking sessions managed and delivered by theCentre for Entrepreneurial Learning since 1999. The programme aims to introduce participants to the worldof business, as well as to encourage and inspire individuals to pursue their entrepreneurial ambition. It is themost popular non-assessed programme within the University and the model has been adopted by numerousother academic institutions as well as corporations. 45
  • 46. Idea TransformThe Idea Transform event took place over a weekend in April at theJudge Business School (JBS) in Cambridge. 26 ideas were pitched at thestart and a total of nine teams stood out for their innovative businessprojects. Amongst them two of our CUTEC members got to win the judges’attention and were subsequently selected into the winning categories.Tim Lui, current JBS student and founder of the start-up CambridgeTransport Solutions Ltd, pitched the idea of using a software system (ITAS)to dynamically adjust service routes of public transport in real time, tobetter meet the exact travel need of passengers.Dan Tomlinson, MBA student at JBS, sought to revolutionise education through mobile learning applications.He joined Imvoto, a teacher led enterprise pitching a web based mobile assessment tool. Through Imvototeachers can more broadly interact with their students. Dan thought this was an excellent opportunity toapply the strategic frameworks he had been learning in his MBA. Both Tim and Dan are continuing to developtheir ideas as the team works to complete a pilot launch. We look forward to updates on their progress at theTVC2012. Silicon Milkround Cambridge This year CUTEC partnered with Metail, Ideaspace and Cabume to bring the first ever Silicon Milkround recruitment event to Cambridge. With the aim to bring focus on the Cambridge high-tech cluster and its wealth of successful silicon companies, the event linked start-ups to their much needed graduate developers and engineers. 40 companies participated in the event, with 100’s of jobs to offer. The computer museum gave an historic display, showing the impact of these technology start-ups on the gaming world. With hack challenges and lightning presentations, the event was truly dynamic and interactive. CUTEC played a central role in advertising the event to its close network of students, departments and societies, and in the logistical set-up of the event. Such is the success of the event, CUTEC will be joining forces again for next year’s Silicon Milkround Cambridge in November 2012.46
  • 47. i-Teams, commercialisation scienceCambridge University i-Teams Course (Innovation Teams) is an initiative fortechnology commercialisation. i-Teams has been running in Cambridge formore than 6 years and has assisted in the commercialisation of 70 projectswith over 400 students, with about 5% of these going on to form spin-outcompanies, and over 60% continuing to be actively commercialised.It is a great opportunity for graduate students and postdoctoral researchers from diverse backgrounds to gainexperience in marketing and commercialisation, to communicate with academics and industry experts fromUK and abroad, to learn about related industries and technologies and - last but not least - to enjoy workingwithin an interdisciplinary team in a business-oriented context.GoCardless workshopAmongst its achievements this year, CUTEC had The belief is that it is too hard and too expensive tothe great honour to organise in partnership with take money online so their goal is to fix that via aGoCardless (gocardless.com) a successful workshop designed, simple solution with more transparenton the challenges of growing your own venture at pricing. In addition to an informative introduction toEntreprise Tuesday. The company is a London based GoCardless, participants have been challenged onstart-up with a combination of great developers and both their personal and transferrable skills to learna strong background in the financial industry, backed how to overcome the challenges of starting a business.by notable investors including Accel Partners, Passion The workshop was a practical session on how to growCapital, and YCombinator. a venture, raise funding and reinforce entrepreneurial determination.Their concept is to simplify and reduce the costsassociated with online payments for any merchant.User Experience trials Start-up@CUTEC eventThree sessions were organised to help young The highlight of the Ideas@CUTEC series of eventscompanies from London and IdeaSpace, Cambridge, was a Start-up@CUTEC workshop which demonstrato obtain user feedback from CUTEC members on a ed the true entrepreneurial spirit of the Club’s merange of software and web-based projects. In return, bership. Six companies founded by current CUTECmembers got insight into the establishment of an members were pitched to a panel of mentors whoearly stage technology business and had a chance to gave valuable advice before giving way to questionscontribute towards the next product in the pipeline of from the audiencethe companies. 47
  • 48. Business surgeriesCUTEC’s Business Surgeries see entrepreneurs getting free, impartial advice on a range of issues typicallyencountered by startups. The Surgeries are run by experts in their respective fields and offer one-to-oneguidance on whatever the participants wish to discuss. This year, in the lead-up to Christmas, five Surgerieswere provided covering Legal Issues, Patents & other IPR, Venture Capital, Marketing, and Early Stage Funding& Business Planning. We were also approached to re-run the Surgeries for participants of this year’s LaureaES Cambridge VentureCamp, which saw some of the best Finnish entrepreneurs spending two weeks in the‘Cambridge bubble’ to hone their skills. We hope the Surgeries provided what they were looking for! CUTEC isentirely reliant upon - and very grateful to - the Surgery providers for their time and expertise.48
  • 49. Silicon Valley comes to the UK (Svc2UK 2012)Silicon Valley comes to the UK (SVC2UK) is an annual The programme covering two eventful days neededprogramme that welcomes pioneers of the most also the involvement of enthusiastic volunteersdisruptive consumer internet and green technologies who had great opportunities to meet and discussto the UK. The project really took off in 2011 with 3 with high profile speakers such as Reid Hoffmanlocations covered including London where Sherry (Executive Chairman & Co-founder of LINKEDIN), GregCoutu, (Co-Chair of the event) was distinguished at 10 Joswiak (Vice President of iPod and iPhone ProductDowning Street for stimulating Innovation in the UK Marketing, Apple) or Julie Hanna (Chair of the Boardmarket. This was also the year where CUTEC saw the at Kiva). CUTEC played a large role this year, with somehighest amount of its members being involved notably members holding positions on the Executive andin the Executive and Organising Committee. Organising Committee.Global Health Hack DayAs part of this year’s Cambridge Science Festival, CUTEC joined forces with the Humanitarian Centre and IdeaTransform to run the Global Health Hack Day. Modelled on CUTEC’s pioneering ‘Open Innovation’ event - runwith MedImmune last year - the Hack Day was in fact a week-long competition which saw seven teams tacklingreal global health challenges set by organisations working in the field. The winning Medic Mobile team - whichimpressed the judges with its innovative tech-based approach to patient health data capture in the developingworld - also went on to win the Idea Transform event held in April.ideas@CUTEC - Innovation workshopsIn Michaelmas term we had four interactive workshops for CUTEC members toenhance their entrepreneurial skills. Starting from idea generation and teambuilding through legal aspects of high-tech business to understanding of howto raise finance from venture capitalists these workshops were provided byhighly qualified and experienced professionals. 49
  • 50. TVC history Since 2003 the Cambridge University Technology and Enterprise Club (CUTEC) has been running top class conferences with the aim of bringing together students, researchers and business people in the Cambridge Cluster with leaders of the scientific world, senior executives, high profile venture capitalists, angel investors and entrepreneurs. As well as its annual conference CUTEC also organises workshops and speaker series events throughout the year and effectively supports entrepreneurship from idea to investment. Executive CommitteeLiz is in the final year of her organic chemistry PhD, working on the totalsynthesis of novel natural product analogues as anticancer agents. Lizwas the Technology Showcase Lead for TVC 2011, and a member of theSponsorship team in 2010/11. Her appetite for business was fuelled by herparticipation in the ‘Emerging Ventures Technology’ course, looking at themarket potential of novel applications of Plastic Electronics for healthcare.Liz is passionate about the application of organic chemistry to solve globalissues, such as renewable sources for fuels, batteries and sustainable plastics.Liz is keen to focus her career on uniting chemistry and business to providemuch-needed solutions to today’s growing population requirements. Liz Williams PresidentClaire has a powerful drive to be a successful entrepreneur. She co-foundedand sits on the board of Grapevine City, a mobile application focusing onnightlife experience. She is also striking out on her own, bringing her significantexperience in relationship management, customer service, and operations tobear in consulting for local businesses. She balances this with a full time roleas account manager in the online travel industry and a leadership positionin CUTEC. Claire earned a First in International Business Strategy through a 2years accelerated track at the Cambridge Ashcroft Business School. She alsotook on an internship with the United Nations Environment Program-WorldConservation Monitoring Centre where she analyzed sustainable businessstrategies in fortune five hundred organizations. Claire came to the UK in2006 but still has a flair for the old country; please ask her about fine wine Claire Thiveyratand good food. Director of Operations50
  • 51. Executive Committee Neil is a Post-Doctoral research scientist in the Department of Biochemistry, University of Cambridge, and is performing structural and biochemical studies of several DNA repair proteins. He obtained his PhD in structural biology, biochemistry and biophysics at the Institute of Cancer Research, University of London, after completing undergraduate and Master’s courses at Bath and York respectively. One of his key interests is the commercialisation of academic ideas and discoveries for the greater benefit of UK plc. Before his election to the CUTEC Executive Committee, Neil was a London Technology Network (LTN) Business Fellow for the University of Cambridge. This role - performed alongside research work - involved improving collaboration between the School of Biology and SMEs Neil Rzechorzek in an effort to foster new working relationships, with a view to generating benefitDirector of Development for both the University and UK industry. Alexey joined CUTEC as a member of the External Relations Team in March 2011 and was later elected as the Director of Innovation. Alexey is a third year PhD student at the Materials Science and Metallurgy Department of the University of Cambridge. He is doing research on superconducting quantum electronics in the Device Materials Group. He obtained his Master’s degree from the Lomonosov Moscow State University and undertook his Diploma research project at the Research Centre Juelich, Germany. He is very much interested in Economics of Innovation and Entrepreneurship. Alexey was President of the Cambridge University Russian Society in 2009-2010 and International Officer at the Darwin Alexey Bannykh College Student Association in 2010. He is very passionate about Scuba-diving and Director of Innovation sailing and an active member of the University’s Underwater Exploration Group and Yacht Club. As a Cambridge Commonwealth scholar, Vivian has just completed her PhD in Biochemistry at the University of Cambridge. She has since co-founded a consultancy network, Silicon Fen Concepts, specifically aimed at helping start- ups and the Angel investment community with various clients from European countries. Prior to her postgraduate studies, she worked as an Investment Process Manager at a venture fund in Brisbane, Australia. She has vast interests in entrepreneurship and commercialisation of science, and was selected to represent Australia in the Novartis BioCamp, held as a platform for exploring the innovative and entrepreneurial aspects of Biotechnology. Vivian was the President for the Vivian Chan Cambridge University Technology & Enterprise Club (CUTEC) in 2010-2011 and is Chairman currently the Chairman. 51
  • 52. TeamsSponsorship TeamIn the sponsorship team, we try to secure a number of sponsorsfor different events being organized by CUTEC, mainly the annualTechnology Venture Conference. The activity in our group involves: - targeting the potential sponsors - making contacts and advertisements - and finalizing and signing agreements and contracts.Additionally, we hold weekly meetings with the team members inorder to review the team progress and fine-tune the team policy. Alessandra Caggiano Vice President Finance Director Ignas Budvytis Anastasia Zolotareva Jerome Joaug Team Advisor Igor Romanov Maria Llorente David Harris52
  • 53. TeamsContent TeamThe content team is in charge of shaping CUTEC events by proposingtopics for the workshops happening throughout the year and for theannual conference. The team is also responsible for identifying andcontacting potential speakers for the various events and coordinatetheir input. We also aim to improve the contact repository of localentrepreneurs, VCs, advisors, etc., in order to share knowledge andprovide a pool of speakers for panels and workshops in the future. Marta Lapsley Vice-President Carlo Tarantini Jason Hardjosoekatmo Luke Sperrin Team Advisor Mahyar Salek Yoko Nogami Andrzej Ejsmont 53
  • 54. TeamsMarketing TeamThe marketing team is responsible for advertising and promotingevents and CUTEC itself. One of the most important tasks is to establisha successful marketing campaign for the TVC to generate great interestand ticket sales. Beyond the TVC, the team also designs flyers andposters, creates e-mails, updates online event sites and administratesCUTEC’s social networks like Facebook, Twitter, YouNoodle, Google+and LinkedIn. Ultimately, the marketing team is CUTEC’s image. Kate Parashina Vice President Jonas G. Mikkelsen Cedric Deur Edwin Hayward Team Advisor Lulu Toledano Thomas Sommer Anne Catherine Goulby54
  • 55. Teams Tilman Lesch Tim Lui Massimo GaetaniExternal Relations TeamThe External Relations (ER) team focuses on expanding the networkof CUTEC, within the UK and abroad: we aim to build strong contactswith other entrepreneurial societies, get entrepreneurially mindedpeople to know about CUTEC and get us to know them! The ER teamalso focuses on building an alumni network, so that current andprevious CUTEC members can benefit from a privileged platformfor interaction with similarly minded people. Ivan Mazour Vice President Karsten Eiserbeck Katsiaryna Bichel Sam D’Souza Dan Tomlinson Team Advisor 55
  • 56. CUTEC and TVC Website Andriy Gordiychuk Cedric Deur Business Operations Team The Business Operations team is responsible for making all the necessary practical arrangements related to CUTEC’s events. This ranges from finding and booking suitable venues, arranging the catering and registering the attendees on the day of an event, to setting out rooms, procuring CUTEC branded giveaways & gifts for invited speakers, and organising CUTEC social events for our members. Annika Eving Tør Jorgen Tusnberg Ana Karina Giese Disha Dewan Christian Salling Team Advisor56
  • 57. Advisors Professor Alan Barrell has spent almost 30 years in senior executive positions in technology-based industries and has become one of Cambridge’s most articulate promoters of entrepreneurship. He is Entrepreneur in Residence at the University’s Centre for Entrepreneurial Learning, and a Visiting Professor at the University of Bedfordshire School of Graduate Business Studies, Xiamen University and the Shanghai College of Science and Technology. More recently, he Professor Alan Barrell was appointed as International Research Fellow at Laurea University Entrepreneur in Residence of Applied Science, Entrepreneur in Residence at McMaster UniversityCentre for Entrepreneurial Learning and Guest Professor at Tohoku Fukushi University. Judge Business School University of Cambridge Sherry Coutu invests in early stage companies and serves on the boards of companies, charities and universities. As a serial entrepreneur, Sherry established and successfully exited two businesses in the financial services industry. Current company affiliations and investments include Linkedin, Cambridge University Press, RM plc, New Energy Finance, Alertme, Lovefilm, I2O, Zoopla and several others. Current university affiliations include Cambridge University and Harvard Business School. Charitable / Government affiliations include the Prince’s Trust, NSPCC and NESTA. Sherry Coutu Serial Entrepreneur and Investor Amy has held a number of senior sales, marketing and business development roles at some of the mobile industry’s leading companies, working with both start-ups and multi-nationals. She was a co-founder and marketing director of STNC Ltd., a mobile start-up acquired by Microsoft in 1999. Other roles have included head of product strategy and international development at Hutchison 3G, director of business development at QUALCOMM. and vice president of sales and marketing at Light Blue Optics, a Cambridge University spin-out. She is involved in a number of early stage startups, is a trustee of the Humanitarian Centre and a Director of the Greater Cambridge Partnership. Amy set Amy Mokady up the Cambridge University i-Teams programme which she has run Visiting Industrial Fellow since inception in 2006, is Entrepreneur-in-Residence at Anglia Ruskin Cambridge Computer Lab University and an advisor to both Cambridge University Entrepreneurs i-Teams Programme Director and CUTEC. Institute for Manufacturing 57
  • 58. AdvisorsHermann is one of the UK’s leading serial entrepreneurs and a founderand director of Amadeus Capital Partners. He has been involvedwith over 20 technology companies as a director or investor. He iscurrently chairman of Virata, a non-executive director of CambridgeSilicon Radio, and several other companies. He also founded AcornComputers from which ARM and many other successful Cambridgetechnology companies can trace their beginnings. Dr. Hermann Hauser Founder & DirectorJosé works closely with the Managing Director, Chairman and other Amadeus Capital Partnersmembers of the E-Center’s team to build, develop and sustain theE-Center ‘s research and educational programs, events, publications,alumni outreach, and networking activities. He promotes theMIT Entrepreneurship Center ‘s courses, programs and activitiesthroughout MIT, manages relations with MIT faculty, students andalumni, as well as entrepreneurs, venture capitalists, and private andcorporate donors.Dr Andy Richards is a serial Biotechnology entrepreneur and businessangel. He is currently Chairman of Altacor, Novacta Abcodia and Ixico José Pachecoand is a director of Arecor, Summit Corp plc, PsychologyOn-line, Cancer MIT Entrepreneurship CenterResearch Technology (commercial arm of CR-UK) and Babraham Program ManagerBioscience Technology.Andy is a Cambridge graduate with a PhD in Chemistry who spent hisearly career with ICI (now AstraZeneca) and with PA Technology. Hewas a founder of Chiroscience and an executive director through tothe sale to Celltech in 1999. Since that time he has been founding andinvesting in new Cambridge based biotechnology companies includingseveral of those listed above as well as Arakis, Geneservice, CambridgeBiotechnology Ltd, Amedis Pharmaceuticals, Sirus Pharmaceuticals,Daniolabs and Pharmakodex, all of which were recently sold.He is a council member of the Biotechnology and Biological Sciences Dr. Andy RichardsResearch Council (BBSRC), a founder member of the Cambridge Angels, Serial Biotechnology Entrepreneurthe founding Chairman of BIA Bioangels and an advisor to Vectura plc, and Business AngelCUTEC, 4D-biomedical and Toscana Life Sciences.58
  • 59. Advisors Shai is Director for the Centre for Entrepreneurial Learning (CfEL) part of University of Cambridge Judge Business School. He started his working career in small companies, leaving to complete his MBA and PhD at Cranfield School of Management, where he stayed on the faculty for ten years, before taking up a Chair in Enterprise at Nottingham Business School. Since 2001, Shai has been closely involved in building the curriculum for a practitioner-led approach to education for entrepreneurship at the University of Cambridge. Together with a team Dr. Shai Vyakarnam of 8 and a pool of entrepreneurs in residence and a wider community of Cambridge University Centre for practitioners, the CfEL provides a portfolio of courses that encourage, Entrepreneurial Learning inform and support students at the University and elsewhere to take Director a learning journey through entrepreneurship. Several of these courses have been copied, transplanted or redeveloped in context. One of the more influential of such courses is Enterprisers. Christopher Padfield joined the University to run technical and executive education, founding the Cambridge Programme for Industry in 1988, and played a significant part, alongside many others, in building bridges between the University and the entrepreneurial communities that were developing in and around Cambridge. He moved in 2000 to found the Corporate Liaison Office which concentrated on similar activities, but this time between the University and major research- intensive global companies. He has now retired from the University but retains a strong interest in fostering and facilitating entrepreneurship Dr. Christopher Padfield in and around Cambridge. He has served as Senior Treasurer for CUTECFounding Director of the Cambridge since its foundation in 2003.Programme for Industry and of the Corporate Liaison OfficeFounding Senior Treasurer of CUTEC 59
  • 60. AdvisorsDr Simon Haworth runs Team Ventures Ltd, the investor, fundraiserand adviser to technology companies. The business operates fromoffices in London, Cambridge, Boston, San Francisco and New Yorkand Simon is currently investigating opportunities for expansion into Asia. Simon trained with Arthur Andersen in the UK, focussing onMBO and related special work, and established the research and realestate finance functions for Savills plc. He has founded 11 companieseither directly, or through venture capital investor IPSO Ventures andhas been involved in numerous fundraisings and mergers. Simon and Simon Haworthcolleagues raised hedge fund backing for IPSO within 18 month ofincorporation, and completed IPSO’s London Stock Exchange listingwithin three years. He has now stepped back from IPSO to concentrateon Team Kapital, the fundraising arm of Team Ventures. Founding AdvisorsMichael is an entrepreneur and angel investor. Until recently he wasco-founder and CEO of Affinio, a provider of personalized Internetsearch solutions. Prior to that, he consulted to technology start-upsViagogo and Macroswiss. Previously he worked as a managementconsultant and as an advisor to financially troubled businesses in the Michael S. Cann Jr.U.S. and Southeast Asia. He has an MBA from MIT Sloan and an A.B. inMathematics with honors from Duke University.In 2001 Jason received an M.Phil. in engineering from Cambridge asa Churchill Scholar. He then began his PhD at MIT where he helpedHans Tung draft the initial proposal for CUTEC and I-teams which wasfunded by the CMI. With the support of CMI Jason recruited a numberof his former Cambridge classmates to start CUTEC. Jason served as astudent advisor to CUTEC from 2003-2006. Jason Fuller60
  • 61. Press Release 61
  • 62. CUTEC Branches Out Since its inception over 9 years ago, an intensive 2-week programme run by the the Cambridge University Technology Laurea Entrepreneurship Society that will help and Enterprise Club (CUTEC) has always the best and brightest from Finland to develop tried to maximise its impact on the local their entrepreneurial ideas. entrepreneurial ecosystem. By constantly readjusting its focus, the club successfully However, this is not the only way CUTEC has fulfills its remit to support budding been branching out. Following on from last entrepreneurs while simultaneously year’s highly successful Open Innovation event challenging the status quo. The membership - which saw interdisciplinary teams working on - consisting of students, academics and real challenges facing the Cambridge-based business professionals - constantly highlights biopharmaceutical giant MedImmune - CUTEC and debates the latest developments and has joined forces with the Humanitarian trends in the high-tech business arena, and Centre to see what impact can be made in then attempts to address them during various the social enterprise realm. This sector is events throughout the calendar. essentially new ground for CUTEC, but one that could benefit greatly from the club’s This year, CUTEC has been looking to extend innovative approach. Over the course of its global reach. One of the ways that the a week during the Cambridge University club supports local entrepreneurs is to run Science Festival, 8 teams will work on different one-on-one Business Surgeries - participants challenges set by a range of not-for-profit get free, confidential 40-minute sessions organisations. The problems are incredibly with local experts on a range of topics. This diverse - from determining where critical winter’s topics (and the session providers) transport needs could be met by hovercraft, included: Legal Issues (Mark Daly - Greene through to creating new mobile apps for the & Greene); Patents and other IPR (James management of patient data in the developing Pitchford - formerly of Kilburn and Strode LLP, world. This is a rare opportunity to work with now at Mathys & Squire LLP); Venture Capital leading groups tackling health issues that (Clennell Collingwood - TTP Ventures); face some of the world’s most disadvantaged Marketing (Chris Lamaison - Cambridge people, and a project that CUTEC is proud to Resolution); and Early Stage Funding & be involved with. Business Planning (Stewart McTavish - ideaSapce). These Surgeries are always The present global financial situation has over-subscribed and well-received, but this changed the way in which new technological year they also attracted significant foreign developments are funded and commercialised. interest. As a result, CUTEC will be running This year’s Technology Ventures these Surgeries over the Easter period Conference (the club’s major annual event, as part of the Cambridge Venture Camp,62
  • 63. to be held on 22nd June at Robinson College) The development of technologies to benefitreflects this trend, focussing on ‘Innovation those most in need will be high on the agenda,in an Uncertain World’. Keynote speakers along with one key question - in what waysand expert panels will discuss and debate can developed world finance push thesethe best ways of driving innovation in times innovations forward?of limited resources, financial or otherwise.Leading on from CUTEC’s involvement with CUTEC remains one of the driving forcesthe Global Health Hack Day, a section of of academic entrepreneurship here inthis year’s conference will be devoted to Cambridge. As the club approaches its 10th‘Global Investment’. Industry leaders and year, technological innovation for the greatercommentators will discuss the roles that good continues to underpin the work thatdeveloping world economies - particularly India it does. The future - although uncertain - isand China - will play in driving technological definitely exciting!innovation in the coming years, and the lessonsthat can be learned by the developed West. Proud Sponsor of TVC 2012 info@destaniepr.com Public Relations and Marketing Communications 3G with a global reach Wi-Fi® GPS Bluetooth® The research, messaging and PR done by DestaniePR has directly and positively effected 4G our revenue.” - Greg McCray, CEO, Antenova UWB ZigBee® LTE Destanie did an outstanding job of enhancing our profile and external relations with media DVB-H etc to a degree that far exceeded our stature at the time.” - Richard Dellabarca, CFO, Artimi WiMAX™ GSM “Tessera has a UK and European media presence as a result of Destanie’s hard work and WUSB contacts.” - Julie Seymour, VP Corporate Marketing, Tessera Technologies WCDMA OFDM DTV www.destaniepr.com 63DMB
  • 64. VC Roundable The Panel Peter Cox, Managing Associate, SNR Denton Tony Raven, CEO, Cambridge Enterprise Gary Hanson, Partner, BDO Neil MacMullen, Co-Founder, Neul The panel was be moderated by Andrew Harris, Partner, SNR Denton The meeting focused on how to start and develop a company and was followed by Q&A session and networking. Investing in Technology that VC and Angel investors have their own interests too. in the Current Financial Climate Approaching VC and Angel InvestorsTony Raven stated that in recent years there has been adecline in the investment in start-ups in the UK from 160M Choosing an investor is a two-way process – you need toto 45M. The reason is that it has become more difficult to research them as much as they research you, - says Tonyattract initial funding. Venture capitalists (VCs) prefer to Raven. There are only a limited number of shots, so onecome into play at later stages of a company’s development. should target carefully. The important thing is to look atThe trend appears to be global, with the biotech sector the exit investments of VCs or Angels and then targetbeing most ‘difficult’ for VCs, despite the fact that pharma your company for them. Neil MacMullen also suggestsis undergoing crisis and is interested in biotech start-ups as one should think what shares are worth and how far onepart of its remedy. is prepared to go. Since investors may hire directors and employees they trust, it is a trade off. Gary Hanson noticed Initial Cash Investment that in some cases investors might take over the company.So where to seek initial investment? Tony Raven suggests When preparing your business plan Tony Raven suggests:two sources of initial investment in the current financial Writing is easy. Thinking about the business plan is a differentclimate – one being personal contacts such as friends and matter. Tony Raven recommends one should think aboutfamily and the other being consultancy. Neil MacMullen the following questions: Is it going to work? Is it sellable?has noticed that while consultancy is a good way to fund Who is going to pay money? Tony Raven also suggests onethe start-up it can be hard to switch from consultancy to take advice from the surroundings, find a mentor, establishstart-up and he himself raised money through personal coaching and connections. Last but not least, you wouldcontacts. One should also consider Angels and VC investors: need management skills, possibly even from outside.not only would they bring money but also connectionsand expertise, as Peter Cox and Andrew Harris pointed Neil MacMullen also highlighted the importance of a goodout. However, one should remember that it is hardly management team. Gary Hanson noted portfolio sales, thepossible to commercialize technology with no money and CEO and the importance of access to brainpower. Peter64
  • 65. Cox suggests being flexible with management from Cultural Aspects Affect Investment Climateinvestors. There are differences in the investment climate betweenFinding trust with Angel Investors; Gary Hanson says USA and UK. These differences can be - at least in partthat if you are lucky, Angel investors would have a – accounted for by cultural difference. For example, asspokesperson. If the size of the group is 20-30 there will be Andrew Harris mentioned, USA is not afraid of failure. Banks2-3 representatives on the board. Tony Raven warns one are not put off by previously unsuccessful experiences ofshould expect operations intervention. Andrew Harris gives the applicants. They believe such applicants are particularlyadvice to pay attention to trust bridges and legal aspects. determined and will try harder. Also, VC investment is more developed in USA and there is also corporate venturing.What do investors want to know? Investors would be willing Another difference is the preferred form of deals: in theto know about arrangements with regard to share as was UK the preferred form of deals is shares as Andrew Harrispointed out by Peter Cox. Andrew Harris added that other noted.aspects, investors would be interested to know, are house-keeping information, preferential rights of investors, shares Cambridge Entrepreneurship Climatedisposure and any exits and management changes. GaryHanson highlighted the importance of intellectual property During the Q&A session the audience had an opportunity(IP) issues at the point of exit, especially if the product was to discuss the entrepreneurship climate in Cambridge.further developed. Peter Cox defined term sheets as a Admittedly, Cambridge is in the front line in Europe withsummary of main terms of the deal and pointed out that regard to the concentration of high-tech companies: therethe wording is important - make sure they work for you. are currently two 10 billion companies and 1500 high tech companies in total. However, there is also some space forWhat is a good investor leaver? Gary Hanson says: Cash is improvements. Despite the fact that newcomers are willingkey. Cash flow is particularly important at the initial stages to sacrifice in order to join the Cambridge knowledge baseof company development when the sales are not stable and networks, the infrastructure is still an issue, evenand it is difficult to keep in a positive cash flow regime. As though this does not cause a skills shortage. Another issue,Tony Raven noted, the faster you grow the more likely you as Neil MacMullen pointed out is the fact that innovators doto go bust. Thus when deciding on the type of preferred not always recognize the value of good sales and marketingshares, choose fixed coupons, recommends Andrew Harris. people. As one of the participants from the audienceMoney is not taken out, it is constantly reinvested. noticed, visionary marketing professionals can be crucial for the commercialization of a new technology - tabletInvestor’s preferences affect the company. Andrew Harris computers being one of the best examples in this regard.warns: Be prepared for tough deals. For instance, as Neil Tony Raven agreed that there is demand for visionary salesMacMullen noted, investors might ask to change the partner. people with knowledge of both psychology and technology.With this regard Neil recommends to have multiple sources– then you are more flexible. Peter Cox also underlined theimportance of a good team: Get the right team around you. 65
  • 66. Medic Mobile Team wins at first Humanitarian Centre-CUTEC Global Health Hack Day by Chris Measures at Idea Transform Cambridge, 28 March 2012 – After a highly successful first Global Health Hack Day organised by the Humanitarian Centre and the Cambridge University Technology and Enterprise Club (CUTEC), a team of students working with appropriate technology company Medic Mobile has won the chance to develop their project at the forthcoming Idea Transform weekend event on 20-22 April 2012. The Right Time to Start a Business Medic Mobile uses mobile communication technologiesAnother interesting question from the audience was to improve the health of underserved and disconnectedabout difficulties with attracting initial investments: Is it communities. It achieves this by providing on the groundbecause VCs see a small number of enquiries? Andrew means of capturing patient information using low costHarris answered the question by saying that VC has steadily mobile phones containing specially adapted networkfled in recent times for quality propositions. Meanwhile, independent SIM card applications. The student team weredefinitions of quality changed, noted Gary Hanson, and challenged to identify at least one approach for improvinga number of opportunities have been growing. So is it the accuracy or efficiency of ID capture and presenta question of quality or number of opportunities? Neil evidence that their approach was feasible.MacMullen said that recession is supposed to be the besttime for enterprise. However, paradoxically, investors pull The students, Shruti Badwar, Mariya Chhatriwala and Tobyout. Tony Raven added that recession, also, is the time Norman, spent a week working on the problem, coming upwhen enterprise appears. In good times one should expect with a fingerprint ID system that was praised by the judgeshigh competition which can inhibit some start-ups. Tony for being easy to deploy to the over 10 million communityRaven pointed out that many successful companies were health volunteers operating in the developing world, forset up in times of recession. whom a mobile phone is now an essential tool. They will further develop the project at the Idea Transform weekend, The Geography of Start-Ups and Investors which has been created to support innovative ideas that can benefit and improve society.Gary Hanson mentioned that the USA invests in healthcareand medical devices businesses in the UK as well as in “Thanks to the energy and enthusiasm of the students, theRussia and China - and in some other technologies in the UK support of the companies involved and the commitmentalso. Peter Cox added that Germany invests in the banking of CUTEC and Idea Transform the inaugural Globalsector and Scandinavia invests in start-ups although in Health Hack Day was a tremendous success,” said Anna-much smaller volumes than the UK or USA. Due to the fast- Joy Rickard, Director of the Humanitarian Centre. “Thepaced nature of high-tech business and global connectivity, consistently high standard of the teams made choosingmost countries want to invest close to home. a winner incredibly difficult. We’re sure that the Medic66
  • 67. Mobile team will be able to further develop their project atthe Idea Transform weekend, using the innovation they’ve As well as the overall prize, category winners fromalready demonstrated to help deliver better healthcare to the 26 ideas pitched werecommunities around the world.” Education: Imvoto, a teacher-developed system forHeld as part of this year’s Cambridge Science Festival the improving maths lessons by using mobile devicesGlobal Health Hack Day was an exciting ‘open innovation‘ Healthcare: Sim-Printsevent that saw seven teams of bright, enterprising students Community: ITAS, a project to create a new servicepresenting their solutions to real global health challenges to combine the convenience of taxis with thein front of a panel of expert judges. As well as Medic Mobile economy of public transportthe students worked with leading organisations including Environment: Ampium, new technology to chargeAddenbrooke’s Hospital, Costello Medical Consulting and electric vehicles while they are drivingthe PHG Foundation. Sim-Prints will benefit from three months membership Sim-Prints wins first Idea at the ideaSpace Enterprise Accelerator co-working and Transform Weekend with networking facility, while all category winners will benefit from ongoing mentoring via the team at Startup Masterclass innovative healthcare biometrics and Cambridge Resolution as well as the chance to attend project next weekend’s Silicon Milkround Cambridge. Additionally, by Chris Measures at Idea Transform two unnamed category winners won the chance to pitch for funding from Cambridge Angels. A special prize forOver 100 people work on projects to change the world at mobile innovation sponsored by Research in Motion, sawCambridge event Imvoto win BlackBerry PlayBooks.Cambridge, 23 April 2012: Sim-Prints took the overall prize These were then judged by an international judging panelat the first Idea Transform weekend for its mobile phone- of investor Peter Cowley, Mark Cheverton of Red Gatebased biometrics project which allows healthcare workers Software, David Gill of St John’s Innovation Centre, Stephento collect and check patient information in the developing O’Brien of Research in Motion, Hugh Parnell of Cambridgeworld. Aimed at supporting and accelerating projects that Cleantech, environmental consultant Ian Tod and Paulbenefit and improve society, over 100 people attended Smith of Eventility/CamCreative.the intensive weekend event, held in Cambridge between20-22 April 2012, including speakers, mentors and judges “We started Idea Transform with a desire to unlock andrepresenting Raspberry Pi, Research in Motion/BlackBerry, support innovative ideas that can really make a difference toSpringboard, Amadeus Capital Partners and the University society,” said Chris Measures, co-founder, Idea Transform.of Cambridge’s Centre for Entrepreneurial Learning (CfEL). “However we were blown away by the diversity of projects, the commitment of the attendees and teams and whatSponsored and supported by ARM, Red Gate Software they managed to achieve in just a single weekend. We’veand ideaSpace Enterprise Accelerator, the event saw convinced that many of them can go on to change theteams pitch and work together on projects in healthcare, world for the better.”education, community and the environment, aided by anexperienced group of mentors. 67
  • 68. Sim-Prints is based on the winning project from the Global so smoothly.”Health Hack Day held by the Humanitarian Centre andCUTEC in March 2012. The winners of that competition, Keynote speakers for the weekend were Billy Boyle, co-Shruti Badwar, Mariya Chhatriwala and Toby Norman, won founder of sensor company Owlstone Nanotech, Jack Lang,places at Idea Transform and were joined for the weekend serial entrepreneur and Raspberry Pi trustee, Dr Wardby James Crosby, Marcos Ikegame and Gail Mayhew in the Hills, CEO of medical monitoring company Pneumacare ,winning entry. Alex van Someren of Amadeus Capital Partners and Jon Bradford of Springboard.“At Idea Transform we’re incredibly grateful for thesupport and help we’ve received from companies and “What’s really exciting about Idea Transform is that there’sindividuals who’ve both provided sponsorship and given a real will amongst all the teams that took part to carryup their time to mentor, judge and speak over the course on and turn their ideas into reality,” said Mauro Ciaccio,of the weekend,” added Jeremy Parsons, co-founder, Idea co-founder, Idea Transform. “The combination of the prizesTransform. “We’d particularly like to thank our partners of ongoing mentoring, the chance to pitch for funding and– ARM, Red Gate Software, ideaSpace and the Centre for membership at ideaSpace for the winners shows IdeaEntrepreneurial Learning for their backing, and to all the Transform’s commitment to support these projects andvolunteers that gave up their time to make the event run help them succeed.” About Idea Transform Innovation, ideas and technology now have the ability to make a difference, delivering real, long-term change across the globe. Cambridge-based Idea Transform has been created to empower the meaningful entrepreneurs driving this change through events, mentoring and targeted support. Backed by the University of Cambridge’s Centre for Entrepreneurial Learning (CfEL) it aims to inspire meaningful projects, from Cambridge and beyond, in areas as diverse as education, health, finance, community and the environment. The first Idea Transform event was held between 20-22 April 2012 at the Judge Business School, Cambridge. Open to all, brought together people with innovative ideas and those with the skills they needed to develop meaningful projects over the course of the weekend. Supported by experienced mentors and high profile keynote speakers it helped identify promising projects, which will now receive the ongoing backing they need to develop and flourish. For more information please visitwww.ideatransform.org, follow us on twitter (@ideatransform) or email info@ideatransform.org68
  • 69. Sponsors 69
  • 70. A big THANK-YOU to all our sponsors! Your generous support enables CUTEC to run a vast range of events, giving budding entrepreneurs the opportunity to develop and network in an interactive and supportive environment within the fervent Cambridge ecosystem. Gold sponsors SNR Denton is an international law firm with offices in 60 locations in 43 countries. With a focus on eight industry sectors: Technology, Media and Telecommunications; Manufacturing; Energy, Transport and Infrastructure; Financial Institutions and Funds; Government; Insurance; Real Estate, Retail and Hotels; and Health and Life Sciences, we advise a wide range of clients on a broad spectrum of commercial matters. Our global Technology, Media and Telecommunications team is highly regarded for its wealth of experience and cutting-edge legal advice. In the world of biologics, MedImmune has established itself as a true visionary, with one of the most robust pipelines in the biopharmaceutical industry. From groundbreaking research and development, to state-of-the-art manufacturing, to product commercialization, every day MedImmune is touching lives. MedImmune is proudly united by the spirit of innovation, the heart of inspiration, and the strength of integration, as it advances science for better health. The ESPRC are the main UK government agency for funding research and training in engineering and the physical sciences, investing around £740 million a year in a broad range of subjects – from mathematics to materials science, and from information technology to structural engineering. In 2007/08 the University of Cambridge received dedicated funds from the EPSRC to support entrepreneurial training activities for postgraduates and research students.70
  • 71. Silver sponsorsHeadquartered in Cambridge and employing 2,000 peopleworldwide, ARM is the world’s leading semiconductor intellectualproperty supplier. It designs the technology that is at the heart ofadvanced digital products, from wireless, networking and consumerentertainment solutions to imaging, automotive, security andstorage devices. ARM’s comprehensive product offering includes32-bit RISC microprocessors, graphics processors, video engines,enabling software, cell libraries, embedded memories, high-speedconnectivity products, peripherals and development tools.ITRM is a privately owned IT services company who providetechnical solutions for all your business needs. Formed in 1999,we take a dynamic approach to delivering the best possible serviceto our customers. Our objective from the outset has been to buildstrong relationships with clients based upon honesty and diligence.Our solutions will both support and transform your business.Blendology is an interactive event solutions company that hasdeveloped simple tap to connect devices and applications thatenable brand managers and event organisers to connect, engageand interact with people at events, build online communities andget a greater return from their marketing spend. Blendologyísunique devices allow users to make real-life connections and extendonline networks, and the Manager Platform provides valuableinformation to monitor, analyse and measure campaign success.Blendologyís event solutions include ProJoGroup, designedspecifically for the professional conference and exhibition market,and SoJoLife which is targeted at large scale social gatheringssuch as live performances, sporting and hospitality events.Blendologyís patented ëtapí devices and applications are enablingbusinesses and Brands to tap the potential of real-life and onlinesocial networking to build customer relationships and increaseprofitability. For more information on Blendologyís solutions, visitwww.blendology.com. 71
  • 72. DestaniePR brings a unique approach to Public Relations and Marketing Communications to the high technology sector: Effective, Integrated, Uncomplicated, Flexible, Adaptable and Entrepreneurial Founded in 2003, DestaniePR benefits from extensive experience and relationships established within the telecommunications industry and entrepreneurial spirit. Employing an integrated approach with Clients, DestaniePR is able to consistently deliver effective results and remain adaptable to changing requirements. And because no two companies are alike and needs change during the evolution of a company, DestaniePR offers an uncomplicated, flexible and cost effective way to meet your PR and Marketing Communication needs. DestaniePR offers a wide range of marketing communication services including; message development, PR and communications plans, drafting press releases, global media and analyst outreach, press briefings/conferences/tours, speaking opportunities, pitching articles, global exhibition project management, generation of sales, marketing and technical collateral, website development, market research and competitor intelligence. Bronze sponsors Cambridge Enterprise is a wholly owned subsidiary of the University of Cambridge, responsible for the commercialisation of University intellectual property. Cambridge Enterprise provides access to angel and early stage capital through the Cambridge Enterprise Seed Funds and Cambridge Enterprise Venture Partners, and offers business planning, mentoring, and other related programmes. Over the past four years, income from licensing, consultancy and equity transactions exceeded £37 million, of which £30 million represents distributions to University departments and academics. Memorable Domains specialises in the sale of top quality generic domain names, covering an inventory of 5,000+ names covers over 200 topics.72
  • 73. Cambridge Network was founded in 1998 and has tremendousexperience and knowledge of innovation and business within Cambridge.We work with companies that have created technologies and productsthat have changed markets worldwide. Many industry-leading businesseswere started in Cambridge and still have their worldwide HQs here.With this strong history for excellence many companies (such as Pfizer,PA Consulting, Unilever et al) have offices in and around Cambridge,making the city a vibrant and dynamic place for academic and businessexcellence. Recruitment Gateway is the only single source for all graduateemployment and internship opportunities across the city and Silicon Fen.Mathys & Squire LLP is a full service Intellectual Property Law firm,established over 100 years, and dedicated to protecting and maximisingthe value of your technologies, brands and designs. Our patent and trademark attorneys have considerable long-term experience working withuniversities and other research institutions, entrepreneurs, spin-outsand start-up companies, as well as larger corporate clients from aroundthe world. We work across a number of specialist technical disciplinesincluding Information Technology and Communications, Nanotechnologyand Materials, and Energy and Environmental Technology. Other sponsorsBoutique corporate advisory and fund raising firm specialised in technologystart-up companies. We back you as you prepare for the next steps. Weare an accessible team of professionals with intercontinental experienceand expert know-how in a range of finance and technology specialismsrelevant to raising venture capital for your technology businesses.BIQ Partners is a Cambridge based organisation specialised in fine-tuningbusiness performance for SMEs. Through effective and proven strategies,our team provides solutions for Sales performance, Marketing strategyand Business Management. BIQ Partners helps good businesses becomegreat businesses by filling small but important gaps and raising the bar. 73
  • 74. Polysolar is an awarding winning Cambridge technology company developing and manufacturing revolutionary transparent solar PV glazing for building integrated applications. The company currently produces a unique translucent a-Si glass laminate module for windows, facades and roofing structures that offer only a marginal additional cost over conventional cladding materials while offering the multiple benefits of thermal glass and power generation. Polysolar is also a world leader in the development of next generation photovoltaic materials based on polymers and is developing in collaboration with Plkington and Solvay a power generating window to replace conventional window glass. Conference Cambridge the free, official venue-finding service for the University of Cambridge and the Colleges. We offer a choice of 36 architecturally stunning venues, from state-of-the-art meeting and training spaces, to ancient College halls and intimate oak- paneled, candle-lit dining rooms, as well as acres of outside space and magnificent gardens available all year round. In vacation periods we can also offer 7500 bedrooms, with more than 3000 en suite, for residential events, summer schools, group travel and even bed & breakfast. Time-saving and easy to use enquiry service; expert, helpful and knowledgeable staff; free administration service for large events using more than one venue; event support services network; Cambridge Ambassador Programme offering extensive support to University members who are who are considering making a bid to bring their association conference to Cambridge. Mobile Event Guide brings conference and trade fair catalogues directly to smart phones and tablet PCs. The mobile solution saves time and printing costs while offering new advertising opportunities for exhibitors. We are dedicated to our vision of a mobile future: a future defined by incredible devices and applications, empowering users to manage their lives anywhere by mere tap of the finger. With iOS, Android, BlackBerry, Tablets and a mobile website we are able to reach 100 % of all internet capable mobile phones.74
  • 75. Minuteman Press is a fast reaction printing and graphic designcompany based in the heart of Cambridge. We operate the mostmodern technology, capable of delivering high quality, low tomedium print volumes; all at a cost effective price. Our productoffering includes printing items such as business cards, flyers,newsletters and booklets. Minuteman Press has also gained afirst class reputation within the Colleges, business schools andconferencing arena. We are able to operate to short deadlineswhich is often the case with these sectors. So if you are looking forpresentation packs, coarse guides or any other type of conferencematerial; call us we can help.Steam Projects are an established Cambridge based multimedia;video and software development company. We create innovativeinteractive digital communication solutions, for desktop andmobile devices. Working for a wide range of clients, on solutionsfrom internal communication, e-learning/training to interactiveexhibition attracts. We are currently working on a new platform forconference material delivery on iPhone and iPad and are excited tobe supporting CUTEC 2012.We offer bespoke, start-to-finish event management services inthe Cambridge region. Cambridge Event Management like to beproactive, and as an evolving company we are constantly looking forinnovative and creative events to be developed and to internationallyenhance Cambridge as a major business destination. By developingnew concepts and continually monitoring new trends, we are ableto offer something different and cater for your requirements. Ourexperienced and passionate team thrives on meeting and exceedingour clients’ business expectations. Cambridge Event Managementcreates events that get people thinking and talking.Online platform to make Students’ life easier. Don’t get on a stew,log on StuStu! 75
  • 76. 2009-2010 Members Arnoud Groen, Andrew Marin, Shreyas Mukund, Orsi Ihasz 2010-2011 Members Jonas Gissel Mikkelsen, Lukasz Mlodyszewski, Philipp von Bieberstein, Ignas Budvytis CUTEC Alumni All members through 2012, with special thanks to Jason Pinto Cambridge University Support Graduate Union Judge Business School Chemistry Department Engineering Department Ideaspace Centre for Entrepreneurial Learning Founding Advisors Michael S. Cann Jr. and Jason Fuller Professional Team Advisors Jason Pinto (Investment) Jon Bradford (Mentoring) Jeremy Parsons (Innovation) Ted Dewhurst (Innovation) Luca Senatore (Marketing) Massimo Gaetani (Team Building) Stew McTavish (Mentoring) Charles Cotton (Mentoring) Chris Measures (PR) James Cotton (Marketing) Mike Scialom (External Relations) Hugh Parnell (Sponsorship Team) Andrey Kessel (Mentoring) CUTEC and TVC Websites Andriy Gordiychuk, Cedric Deur, ITRM Booklet Design Jerome Joaug, Kate Parashina Press Articles Women in Entrepreneurship - Alessandra Caggiano, Marta Lapsley, Liz Williams, Ivan Mazour CUTEC Inaugural Event - Samantha Dsouza CUTEC-SNR Denton VC Roundtable - Katya Bichel Global Health Hack Day – Neil Rzechorzek, Daniel Tomlinson Business Surgeries – Neil Rzechorzek, Ivan Mazour Bright Sparks try to Discover Next Big Thing in Technology – Mike Scialom, Cambridge News76 TVC2012 in the city of angels – Mike Scialom, Cambridge Business
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