Independent review of spin-out companies: ßÏßÏÊÓƵ statement of best practice adoption
The ßÏßÏÊÓƵ welcomes the independent review of university spin-outs published in November 2023, aimed at accelerating innovation-led economic growth through university-grown spin-out companies.
The University recently overhauled its Intellectual Property (IP) policy in 2022, setting out a clear approach to supporting IP generated at ßÏßÏÊÓƵ, as well as the translational support available to staff and students wishing to protect and commercially apply their innovations, discoveries and creations.
Our approach was based on an internal review of best practice at the time, so it was already closely aligned with the approach taken in the . However, the University has now also embraced additional best practice from the spin-out review and has further aligned its policies and practices for establishing spin-out companies within the guidelines.
In response to the review, the University has:
- clarified the spin-out process by specifying more explicitly the different stages of forming a new spin-out company
- provided advice on the likely time scales for setting up a spin-out to the point of operational independence
- specified that for IP, technologies and know-how generated in specific sectors, (e.g. life sciences, engineering or software) the equity taken by the University shall follow sector norms and market conditions, in alignment with the best practice in the and the
- clarified that any licensing fees or royalty rates for a licence to the spin-out company will follow the TenU USIT Guides and will take account of the recommended valuation methodology or benchmarking data.
Read ßÏßÏÊÓƵ’s updated Policy on Exploitation and Commercialisation of Research and Intellectual Property [PDF 475KB].
Adopting the best practice guidance from the spin-out review will hopefully accelerate the establishment of more successful spin-outs to drive new opportunities and new solutions needed in a rapidly changing world.