UMI3 LtdThe University of Manchester Innovation Group                 Rich Ferrie PhD        Director of IP Commercialisat...
Presentation Overview• UMI3 Ltd – its role and organisation• The University of Manchester approach to  IP commercialisatio...
Company Structure                         UMI3 Ltd                    The Innovation Group of The                     Univ...
IPR Commercialisation• University owns IPR from academic research• University’s IPR policy is progressive and designed to ...
UMIP Overview• Identifies, protects and commercialises IPR• Organised into BioMedica and Technologies Teams• Inward interf...
Operational mode• Secure invention disclosures from Faculties• Rapid evaluation of ideas and inventions for  commercial po...
Context              Proof of      Seedcorn      Series A              Principle    Investment     Finance                ...
Proof-of-Principle Funding• UMIP engages early in the innovation process• IP is initially raw, poorly exemplified, and is ...
POP Selection Criteria• IPR addresses unmet market needs• Project has significant commercial potential and clear  route to...
Total Investment in the PoP Scheme• £9.59M has been invested in the scheme• £4.15M has been invested in 43 spin-out  proje...
Leveraged Cash• Further development capital from either  investment, grant or charitable sources• £73.8M has been invested...
Facts & Figures – Annual Performance•   Invention Disclosures             300•   Value of External Investments   c£50M•   ...
UMIP Premier Fund•   £32M limited partnership•   5 year invest/5 year realisation•   50 Proof-of-Principle projects•   20-...
Investment Preferences•   IT•   Smart materials•   Medical Technology•   >80% UoM – up to 20% elsewhere
Valuation                                               Investment Context                                                ...
UMIP Venture Pipeline   PoP Phase        Early Stage/Seed     Development         Exit    Stratastem     Hexrotor         ...
Rich Ferrierich.ferrie@umip.comTel +44-161-606-7216   Skype richferrie
Upcoming SlideShare
Loading in …5
×

Rich Ferrie - University of Manchester Innovation Group

1,226 views

Published on

Presentation given to VINNOVA visit, November 2012

  • Be the first to comment

  • Be the first to like this

Rich Ferrie - University of Manchester Innovation Group

  1. 1. UMI3 LtdThe University of Manchester Innovation Group Rich Ferrie PhD Director of IP Commercialisation Head of UMIP Division
  2. 2. Presentation Overview• UMI3 Ltd – its role and organisation• The University of Manchester approach to IP commercialisation• UMIP Division• Proof-of-principle funding• UMIP Premier Fund• Track record
  3. 3. Company Structure UMI3 Ltd The Innovation Group of The University of Manchester Clive RowlandUMIP Division UMIC Division Intellectual Property Innovation Centre Rich Ferrie Yvonne Loughlin
  4. 4. IPR Commercialisation• University owns IPR from academic research• University’s IPR policy is progressive and designed to incentivise• UMIP Division is the University’s sole agent for commercialising IPR• UMIP Finances Proof-of-Principle Funding• UMIP Premier Fund (£32M) is the largest venture fund linked to a single University in Europe
  5. 5. UMIP Overview• Identifies, protects and commercialises IPR• Organised into BioMedica and Technologies Teams• Inward interface - Commercialisation Executives• Outward interface - Venture Managers and Licensing Managers• Commercialisation typically via spin-out, partnering and licencing
  6. 6. Operational mode• Secure invention disclosures from Faculties• Rapid evaluation of ideas and inventions for commercial potential• Ensure a consistent, robust and high quality decision making process across UMIP• Select and prioritise ideas and inventions with commercial potential for active• Secure PoP/create NewCos/secure investment/license out
  7. 7. Context Proof of Seedcorn Series A Principle Investment Finance (PoP) PROJECT COMPANYScreening & £75K £250K £1M Selection UMIP/UPF Investment UPF UPF Committee Corporate Seedcorn &/or Partners Investors Syndication
  8. 8. Proof-of-Principle Funding• UMIP engages early in the innovation process• IP is initially raw, poorly exemplified, and is of low value• High level of inherent technical risk confounds spinning out or licensing• Intervention through providing development capital is essential
  9. 9. POP Selection Criteria• IPR addresses unmet market needs• Project has significant commercial potential and clear route to market• Base IPR is too immature for immediate licence or investment• 6-12 month project addresses key technical risks• Project bolsters IPR position• Project enables downstream development• Academic committed to project• Average amount of cash provided is GBP75,000
  10. 10. Total Investment in the PoP Scheme• £9.59M has been invested in the scheme• £4.15M has been invested in 43 spin-out projects – Average award per spin out project is £96.6K• £5.44M has been invested in 81 licensing development projects – Average award per licensing project is £67.1K
  11. 11. Leveraged Cash• Further development capital from either investment, grant or charitable sources• £73.8M has been invested in University PoP spin-out projects• £14.5M of has been secured by University PoP licensing projects• £88.3M has been leveraged by the PoP activity overall
  12. 12. Facts & Figures – Annual Performance• Invention Disclosures 300• Value of External Investments c£50M• No. of External Investments 10• Sales of Shares c£6M• Licence Income £1M• Number of Licences >40
  13. 13. UMIP Premier Fund• £32M limited partnership• 5 year invest/5 year realisation• 50 Proof-of-Principle projects• 20-25 spin-outs• Positioned as late seedcorn• Managed by MTI Partners• Offices in Watford and Boston, MA
  14. 14. Investment Preferences• IT• Smart materials• Medical Technology• >80% UoM – up to 20% elsewhere
  15. 15. Valuation Investment Context Business Market Market to Ready Investor Money Ready Product Proof to Market Technology to Product Proof of Market PoP IPO / Sustainable Project Seed Late Seed Classic Venture Development Capital Business0 £75K £250K £750K £2M + £10M + Investment © - MTI Partners - UMIP, 2006/2007
  16. 16. UMIP Venture Pipeline PoP Phase Early Stage/Seed Development Exit Stratastem Hexrotor Arago F2G Biomaterials Myconostica Nano ePrint Phagenesis PharmaKure Renephra Conformetrix Nanoco IF sensing Cablesense Arvia RenovoEnergy Harvesting Multisensor Systems Ai2 Transitive VaxCo Bioxydyn Motac Neutec Pharma Gelexir Oncoprobe Curapel Breath ViBio Diagnostics
  17. 17. Rich Ferrierich.ferrie@umip.comTel +44-161-606-7216 Skype richferrie

×