On 9 March 2023 the UK Government announced a Review of University Spin-outs. As stated the “review will begin on 9 March and will end in the summer”.
The Report was published on 21 November 2023 thus heralding the end of summer in the small but thriving world of UK university technology transfer. The Report is packed with helpful facts and opinions and makes 11 Recommendations, as follows (in my words, not theirs):
1. Better policies. University spin-out equity up to 25% for life sciences, up to 10% for software, and in-between for hardware and engineering.
2. Create a national spin-out register, for better data and transparency.
3. Use government HEIF funding to fund TTOs.
4. Create shared TTOs to help smaller universities.
5. More government funding for proof-of-concept funds.
6. Emphasise beneficial impact of research commercialisation in REF 2028.
7. Provide help to Founders from experienced people.
8. Provide high-quality entrepreneurship training to PhD students.
9. Tied investment funds are good but beware they do not stifle competition.
10. Allow pension funds to invest in scale-up funds. Government do more to encourage companies to stay in the UK.
11. Government should help people move between university research and industry.
Well done to everyone involved and may this report have a lasting legacy and not be another flash in the report pan.
The government has responded as follows:
"We therefore welcome the recommendations of the review and are pleased to be able to accept them all. We are working up proposals to support them and are providing a new £20million proof-of-concept fund to support universities and future founders to de-risk technology."
The Report was published on 21 November 2023 thus heralding the end of summer in the small but thriving world of UK university technology transfer. The Report is packed with helpful facts and opinions and makes 11 Recommendations, as follows (in my words, not theirs):
1. Better policies. University spin-out equity up to 25% for life sciences, up to 10% for software, and in-between for hardware and engineering.
2. Create a national spin-out register, for better data and transparency.
3. Use government HEIF funding to fund TTOs.
4. Create shared TTOs to help smaller universities.
5. More government funding for proof-of-concept funds.
6. Emphasise beneficial impact of research commercialisation in REF 2028.
7. Provide help to Founders from experienced people.
8. Provide high-quality entrepreneurship training to PhD students.
9. Tied investment funds are good but beware they do not stifle competition.
10. Allow pension funds to invest in scale-up funds. Government do more to encourage companies to stay in the UK.
11. Government should help people move between university research and industry.
Well done to everyone involved and may this report have a lasting legacy and not be another flash in the report pan.
The government has responded as follows:
"We therefore welcome the recommendations of the review and are pleased to be able to accept them all. We are working up proposals to support them and are providing a new £20million proof-of-concept fund to support universities and future founders to de-risk technology."