Morning, Thursday, 12th December 2024
Online
This conference will discuss next steps for developing and commercialising university spin-outs in the UK.
It will be a timely opportunity for stakeholders and policymakers to assess latest thinking and best practice for driving the sector forward, and to consider priorities for the Government following the recent publication of the industrial strategy Green Paper Invest 2035 and its commitment to implement recommendations from the Independent review of university spin-outs published in November 2023.
Discussion is expected to draw on UKRI’s work on implementing the review, including the benefits of sharing best practice developed from TenU’s USIT guide, with a plan for Research England to publish further information to help enable implementation of these practices. Sessions will also examine plans in Invest 2035: The UK’s Modern Industrial Strategy, focusing on supporting the contribution that spin-outs make to the UK economy - with £1.66bn raised in equity funding in 2023 - as well as encouraging more venture capital investment into spin-outs and high-growth firms via pension and investment funds, such as the British Business Bank’s new British Growth Partnership.
With over £20bn of R&D funding, with £6.1bn supporting core research recently announced in the Budget, areas for discussion include strategies to foster collaboration, improve data and share tech transfer function, as well as looking at findings from Research England’s one-year stock take, due in November.
We are pleased to be able to include keynote sessions with: Dr Alison Campbell, CEO, Government Office for Technology Transfer; Alice Frost, Director of Knowledge Exchange, Research England; and Prof Chas Bountra, Pro-Vice Chancellor, Innovation, University of Oxford.
Delegates will consider the way forward for developing spin-outs after creation and the relationship between universities and companies in commercialising their research, as well as examining industry imperatives for sustaining funding through the scale-up stage of development and in the longer-term. They will also consider how the UK can increase the geographic spread of successful spin-outs domestically beyond the southeast and remain competitive internationally, including approaches for attracting overseas investment.
With the £40m in proof-of-concept funding and improvements to support commercialisation of cutting-edge research announced in the Budget, sessions are expected to consider the Russell Group’s recommendations for the Government, such as piloting and scaling-up the UKRI’s proof of concept spin-out fund, launching a ‘spark fund’ to invest in early-stage university spin-outs, increasing Higher Education Innovation Fund allocations, and promoting the UK’s research-intensive universities internationally.
The agenda will also bring out latest thinking on addressing the decline in equity investment in UK spin-outs from the pandemic-related peaks in 2021-2022. The role of university-partner funds in attracting investment will be discussed, alongside government policies such as visa schemes, and their effect on international recruitment and its wider growth agenda.
Overall, areas for discussion include:
- key priorities: progress since the Independent Review - moving policy and HE sector practice forward - growth efficiency in the context of the Government’s wider investment and spending plans
- spin-out creation: assessing efficiency and establishing a blueprint for licensing deals - approaches to IP - equity shares - support from the founding institution - strategies to accelerate the process, including training universities and prospective founders
- improving knowledge exchange: addressing UKRI’s work to implement a knowledge exchange strategy - the vision for a comprehensive database of UK spin-outs
- investment and scaling-up: addressing the fall in equity investment into spin-outs since pandemic-related peaks in 2021-2022 - the role of angel and venture funding - overcoming barriers academics face when pursuing commercial interests - priorities for attracting international investment - encouraging investment beyond the South East of England
- best practice: standards in the UK and internationally - developing investor-friendly value propositions - assembling strong start-up teams - securing patient capital - spin-out creation in research departments - forging best practice for investor relations and equity stake
- wider government priorities: examining the role of spin-outs in supporting the Government’s growth agenda - considering the impact of wider policies, including visa schemes and their effect on international recruitment - the effect of spin-out creation on the community and upskilling - maximising impact
All delegates will be able to contribute to the output of the conference, which will be shared with parliamentary, ministerial, departmental and regulatory offices, and more widely. This includes the full proceedings and additional articles submitted by delegates. As well as key stakeholders, those due to attend include officials from DSIT; DfE, NI; FCDO; GOTT; IPO; and The Scottish Government.
