Commercialising University Research Viraj Perera

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Commercialising University Research Viraj Perera

  1. 1. Dr Viraj Perera Business Development Manager Warwick Ventures University of Warwick UK
  2. 2. Commercialising University Research Introduction <ul><li>Development and Commercialisation Life Cycle </li></ul><ul><ul><ul><li>- Opportunities </li></ul></ul></ul><ul><ul><ul><li>- Pitfalls </li></ul></ul></ul><ul><ul><ul><li>- Insights </li></ul></ul></ul><ul><li>Summary </li></ul><ul><li>Questions and Review </li></ul>
  3. 3. Commercialising University Research Opportunity – Knowledge base Pitfall – Insufficient business skills <ul><ul><li>Not all researchers are talented entrepreneurs </li></ul></ul><ul><ul><li>Issues in communicating the opportunity </li></ul></ul><ul><ul><li>Raising capital can be difficult without </li></ul></ul><ul><ul><li>business acumen </li></ul></ul><ul><ul><li>Intelligent people with academic brilliance </li></ul></ul><ul><ul><li>Talented innovators </li></ul></ul><ul><ul><li>Government and industry support </li></ul></ul><ul><ul><li>Public recognition and trust </li></ul></ul>
  4. 4. Commercialising University Research Opportunity – Applied research <ul><ul><li>Industry focus </li></ul></ul><ul><ul><li>Quality early stage commercially focused </li></ul></ul><ul><ul><li>projects </li></ul></ul><ul><ul><li>Great ideas for unique IP development </li></ul></ul><ul><ul><li>Routes to commercialisation </li></ul></ul><ul><ul><li>(1) License (2) Sell IP (3) Form spin-off </li></ul></ul>Pitfall – Barriers to commercial success <ul><li>Publish or commercialise? </li></ul><ul><li>Issues relating to IP ownership </li></ul><ul><li>Optimal strategy to commercialise </li></ul>Success
  5. 5. Commercialising University Research Opportunity – Several routes to access funding Pitfall – Issues in attracting funds <ul><li>Lack of awareness of funding sources </li></ul><ul><li>Lack of management skills to attract funding </li></ul><ul><li>Proposals not investment ready </li></ul><ul><li>Weaknesses in project evaluation for </li></ul><ul><li>investment </li></ul><ul><li>Government supported grants and funding </li></ul><ul><li>Higher Education Funding Council </li></ul><ul><li>for England (HEFCE) research funding </li></ul><ul><li>(2) Research Councils R&D funding </li></ul><ul><li>(3) Other initiatives (Science Research </li></ul><ul><li>Investment Fund) </li></ul>Technology transfer funding (1) MERCIA (2) West Midlands Finance (3) Wellcome Trust (4) Small Business Research Initiative (SBRI)
  6. 6. Commercialising University Research Opportunity – Pioneers in early stage development <ul><ul><li>Expertise and knowledge base </li></ul></ul><ul><ul><li>Collaborative networks </li></ul></ul><ul><ul><li>Existing infrastructure/equipment </li></ul></ul><ul><ul><li>Financially viable route </li></ul></ul><ul><ul><li>Effective validation </li></ul></ul>Pitfall – Barriers within late stage development <ul><li>Expensive and risky </li></ul><ul><li>In-house development (slow) </li></ul><ul><li>Challenges (academic versus industry worker) </li></ul><ul><li>Misconceptions </li></ul>
  7. 7. Commercialising University Research Opportunity – Existing support for commercialisation <ul><li>Support from the university or its commercial arm </li></ul><ul><li>Support from existing networks/contacts </li></ul><ul><li>Knowledge Transfer Networks (KTNs) </li></ul><ul><li>Government initiatives </li></ul><ul><li>- Business Link West Midlands </li></ul>Pitfall – Ineffective decision making <ul><li>License versus spin-off route </li></ul><ul><li>Spin off formation – funding and risk </li></ul><ul><li>University contribution and shares in a spin-off </li></ul><ul><li>Venture capital funding and management </li></ul><ul><li>Spin-off failure </li></ul>
  8. 8. Commercialising University Research Summary Knowledge Industry focus Funding Development Commercialisation £  University Industry

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