Systemising the TLO/TTO business model, including its sustainability 10 January 2012
Quentin Compton-Bishop Chief Executive Officer Warwick Ventures Ltd
The University of Warwick Making a global impact
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Established 1965 7th for research (RAE 2008) Research budget £120m/¥14.4bn 700 researchers 1,000 academics 23,000 students 33% international Vision 2015 & Global Priorities programme – Multidisciplinary research for global challenges
Warwick Ventures Ltd From Innovation to Impact
• Warwick Ventures – – – – – – – –
Established 2000 650 innovations 240 patents filed 80+ licences 60+ spin-out companies £44m funds raised (¥5bn) Limited company 2010 9 staff
Is Warwick Ventures “sustainable”? • Financial self-sufficiency? – No, like most other TTOs around world – Dependent on University investment and Higher Education Innovation Funding
• Critical sustainability measures for University – University’s reputation for research that generates economic and social impact – Contribution to winning research funding – Centre of commercial expertise
Establishing Warwick Ventures Ltd (WVL) within the University • Well-established, but more to do – Provide a valuable service to researchers and their departments. “From Innovation to Impact” – Support other departments involved in business engagement, international development and PR – Grow WVL network • University – Departments – Academics – Industry – Investors – Alumni - International
– Perform against KPIs. Demonstrate success!
Achieving financial self-sufficiency • Be more commercial, less institutional • Who are our customers? What do they want? Strategy? Service levels? Financial targets? • The challenges – Increase disclosures. But be more selective – Increase licences. Negotiate better deals – Fewer, stronger spin-outs. Minimise dilution. Exits! – Raise investment to make it happen
• Sustainability – a business driver, but long-term