Inhaled Drug Particle Dissolution Device Raises £140,000 via Equity Crowdfunding
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Presentation made at Dublin City University to a group of Irish universities, accelerators and incubation managers on how to best use equity crowd-funding to accelerate technology transfer from Universities. Hosted by: Richard Stokes - Dublin City University Speaker: Brian McCaul - Queen's University, Belfast Speaker: Emma Nolan - Liverpool John Moores University, & The Innovation Commons
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Inhaled Drug Particle Dissolution Device Raises £140,000 via Equity Crowdfunding
- 1. Equity Crowd Funding for Tech Transfer …based on some experience! Brian McCaul Director of Innovation CEO Qubis Ltd Queen’s University, Belfast
- 2. Equity Crowd Funding for TTOs …scaling up and collaborating!
- 5. For University Commercialisation but how to
- 7. Why? And especially why foruniversities & commercialisation activity
- 8. Because could be the biggest shift in our sector
- 9. Research Development Tech transfer Commercialisation Market Entry Valley of Death Profit/Loss time Crowd Equity focuses on smaller seedrounds Nearer to the TTO
- 10. Mainly Startup and early stages
- 11. Mainly Tech
- 12. EIS & SEIS Angel Cofund ! ! Displacing Angels which were themselves displacing VCs in this space Investor Friendly: generous tax breaks …or EII here
- 13. Founder Friendly deal terms and re-balancing the power A successful crowdfunding campaign can serve as a positive signal for other funders and can help you attract more funding or funding at better terms. Liam Collins, Nesta “ ”
- 14. ! ! More scalable funding market
- 15. ! ! More scalable funding market
- 16. It’s leaner Tests demand Early Validation & Fast Failure
- 17. It’”⁹s more than just funding… Equity based crowd funding increase revenue 351%- not inc funding Not only tests demand but createsdemand Survey of several hundred firms randomly tested that used crowd or other forms of finance for sponsored by Ellenoff Grossman and Scholes LLP
- 19. The largest early-stage seed market in the UK
- 20. Countries taking the leap: UK, USA, NZ, France, Italy India & Japan Many others - including Ireland - deciding whether to jump …
- 21. The Seed Market In 2013, angel networks were replaced by government-backed funds, followed by crowd funders, as the top funders More than the next 2 together…
- 23. “…these platforms have delivered over a hundred investments so far in 2014” The Crowd is slaying the Dragons….
- 25. “32% thought it was the most likely funding choice in the next 12 months. ! ! ! Figures from Irwin Mitchell suggest that crowdfunding has come a long way since being regarded as just a niche option for funding a business. Entrepreneurs are doing it… ”
- 26. Venture capitalists are doing it… £750,000 £750,000 == £1,500,000+ =£3,800,000 £1,200,000 £5,000,000+ £6,000,000 £1,420,000 £7,420,000 =+
- 27. Publicly-listed, winemaker and craft brewer Chapel Down (listed on ISDX) launched a £1.6M crowdfunding campaign on Seedrs. In three weeks, they overfunded to almost £4M, from around 1,400 investors Even PLCs are doing it… the largest equity crowdfunding campaign ever. http://blog.seedrs.com/2014/09/26/crowdfunding-public-companies/
- 28. Why aren’t TTOs doing it?
- 30. Technology from MMU Over-raised £700,000 from 37 angel investors
- 31. ! Raising funds with SyndicateRoom was quick & efficient and it also helped us to raise our profile through press coverage on Forbes and TechCrunch. ! Lord Douglas Dundonald: Chairman, Radio Physics Solutions “ ”
- 32. Mindlflood
- 33. BetterTerms CompletedRound AgileValuation De-risked Hittargetin48hours!
- 34. Testing Valuations - Pre-IPO…?
- 35. So…
- 36. either pick a platform to pilot a project or why don’”⁹t we work together to coordinate an Irish university sector approach Why don’”⁹t we have a go…
- 37. Who to start with: FCA regulated Significant investment record Big poolof active investors Significant deals sizeand quantum ! That’s it! ! Which narrows it down to 1 or 2 maybe 3 platforms at most
- 38. Crowdcube biggest most active and cheapest Seedrs more managed & have convertible loans Syndicate Room for larger angel investments
- 39. butit’s only scalableif your TTO or team is scalable and that’s only scalable if you engage external entrepreneurs ! crowdfunding is nota way of increasing your network you need to build a strong one in the first place.
- 40. Each project needs a rower Significant investment is required before a project is launched And a credible team - & these can’t all be from the TTOs
- 41. DDIY Don’tdoit yourself use an intermediary as a Rower if you want to scale up the process
- 42. Exploit an existing network Help prior project validation prioritise competing projects
- 43. For a TTO / University that wants to do one, two… many crowd campaigns… a strategyto allow you to scale and handle more than one at, a time is a necessary precursor
- 44. you need to out-source (crowd source) a supply of credible rowers even before you get to campaign tactics!
- 46. Could we create an all-Ireland Commons Network?
- 48. Emma Nolan ! Liverpool John Moores University! IP & Commercialisation Manager
- 49. ! Inhaled Drug Particle Dissolution Device... ! ! ! ! ! ! ! ! ! ! The inhaled drug particle dissolution device (IDPDD) aims to provide both a reliable and reproducible method by which to probe drug release from inhaled formulations, whilst at the same time being pharmaceutically and biologically relevant. ! Here, the underlying objective is to mimic, as closely as possible, the in-vivo scenario. The data we have generated confirm the suitability of the IDPDD to assess the dissolution profile of inhaled drug particles in a pulmonary environment. ! In each case the results demonstrate a trend for increasing drug concentration within solution with respect to time. ! !
- 54. Text • Facili&es!–!making!the!‘leading!edge’!available! • Feasibility!–!preliminary!inves6ga6ons! • Funding!–!securing!support!for!collabora6ve!research!
- 56. £86,000 ! TSB SMART Award... ... 6 months to raise match
- 57. Angel Funding...
- 64. £0 £23,333 £46,667 £70,000 £93,333 £116,667 £140,000 10/03/2014 12/03/2014 14/03/2014 17/03/2014 19/03/2014 21/03/2014 24/03/2014 26/03/2014 28/03/2014 30/03/2014 01/04/2014 03/04/2014 05/04/2014 07/04/2014 A v B Shares Lowering of A share threshold HMRC SEIS Advanced Assurance Angels/HNWI The campaign...in real time
- 66. £0 £23,333 £46,667 £70,000 £93,333 £116,667 £140,000 10/03/2014 12/03/2014 14/03/2014 17/03/2014 19/03/2014 21/03/2014 24/03/2014 26/03/2014 28/03/2014 30/03/2014 01/04/2014 03/04/2014 05/04/2014 07/04/2014 A v B Shares Lowering of A share threshold HMRC Advanced Assurance Angels/HNWI Overfunding The campaign...in real time
- 71. Average Investment £1,015.53 Largest Investment £15,000 Syndicate Investors £34,980 Lowest Investment £10 The final scores... A"Ordinary" B"Ordinary"
- 72. 1.Idea 2.Market Potential 3.Team Top 3 Reasons for Investing:
- 73. Lessons learned..? Be Agile Set Minimum Investment De-risk it!
- 76. Thanks for listening! Emma Nolan ! Liverpool John Moores University! e.nolan@ljmu.ac.uk
- 77. Savvy VCs, not least of which included Virgin CEO Richard Branson, threw money at it—to the tune of $30 million. It was the largest early investment raised in Silicon Valley’s history. Whenit’stheCrowdVs.Investors toDiscoverFraud,CrowdfundingWins
- 78. Out-takes….