process works best when there is good understanding and transparency between the parties from the start. This engenders confidence and trust as the parties ‘sail into the unknown’. The transition from an idea, invention or discovery into commercial reality as a spin-out company is difficult without experienced and dedicated support.
Dr Hugh Ilyine, Chief Executive Officer of DestiNA Genomics Ltd, which spun out from the University, said: “The spin-out process really needs to have competent, experienced and committed people to make such things work at a ‘real’ level, rather than just a ‘paper exercise’ and plaything of academic researchers. “Equally important to its future success was establishing the founder shareholdings through open discussion of past and future expected contributions, which has stood the company in good stead.
“ERI has contributed positively in this respect with DestiNA; otherwise the spin- out would not have succeeded.”
LOOKING BEYOND THE DEAL
ERI’s involvement doesn’t end with the conclusion of the deal with a company. There is still the opportunity to build relationships and partnerships that provide the company with a chance to grow, using the world-class expertise and resources of the University.
Rob Palfreyman, Chief Executive Officer, sensewhere Ltd (previously SATSIS Ltd), said: “The relationship with ERI was like having an additional adviser at board level continuing to make a valuable contribution beyond licensing the intellectual property. ERI’s understanding of commercialising new technologies and operating in global
markets is a valuable asset to early stage companies like ours.”
MECHANISMS FOR ENGAGEMENT THAT MEET SPECIFIC NEEDS
ERI offers many ways for business and industry to work with the University, designed to meet particular needs. Often, this can start on a small scale, such as an industrial studentship, but can develop into larger, more strategic long-term collaborations. This is shown in more detail on the next page in our look at five ways of engaging with the University to build your business. Dr Eric Whale, Managing Director, CelluComp Ltd, said: “We have found the process of applying for and working with Edinburgh Research and Innovation and the University through the innovation voucher scheme an extremely beneficial experience.”
MAKING IT EASIER TO ENGAGE WITH US
ERI’s Click-thru Licensing System makes it easier for your organisation to license key technologies from the University of Edinburgh under a standard non-exclusive licence agreement. We’ve recently introduced online payments as part of our continuing development of this system. John McCourt, Clinical Informatics Manager, Dublin Centre for Clinical Research, said: “The whole procurement process from the click-thru licensing system to final implementation and support has run without any problems.” You’ve heard from those who have first-hand experience of working with the University of Edinburgh, so now it’s your opportunity to come and see how we can start to build a fruitful relationship to help take your business to the next level.
HAVE WE ALREADY INVENTED YOUR
NEXT BIG IDEA? While Edinburgh may not have the specific technology that meets your specific needs, there may be another university out there that has already invented a product which could enhance or broaden your company’s offering. University Technology – Invented in Scotland is a unique initiative that brings together all the latest technologies and licensing opportunities from all of Scotland’s universities to make it easier for potential investors around the world to find new technologies and business opportunities from Scottish universities in one convenient location.
For more information, go to
www.university-technology.com
Turn overleaf to page 32 for five ways you can work with the University to help build a better business or a stronger product
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