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Integrating Innovation

Integrating Innovation . Imperial College London. Business Mission. Customers. Products & Services. Sales. Marketing. Procurement, Supply & Back-Office. Profit. R & D. Investment. Shareholders. The University Mission. Technology Transfer. University. Teaching . Research.

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Integrating Innovation

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  1. Integrating Innovation

  2. Imperial College London

  3. Business Mission Customers Products & Services Sales Marketing Procurement, Supply & Back-Office Profit R & D Investment Shareholders

  4. The University Mission Technology Transfer University Teaching Research

  5. Business & University Interaction Customers Products & Services Sales Spin-out Marketing • Management • Capital • Incubation Procurement, Supply & Back-Office Licence Profit R & D Technology Transfer Investment Shareholders University

  6. Imperial College London • Science, medicine and technology based institution • Rated 9th university in the world research rankings (THES) • Top ranked in the UK in terms of research • Over 3,000 staff conducting research • 14 Nobel laureates and 2 Field medallists • ~ £248m annual research income (31st July 2005) • ~£20m annual research income from industry • Imperial College’s key strengths • Focused on industrial problems • Multi-disciplinary approach

  7. Imperial Innovations 1987 – Technology transfer office set up to exploit Imperial’s IP 1997 – DTI Biotech –exploitation and incubation programme 2002 – UCSF plus financing deals with Nikko and FF&P provide funds for spin-outs 2004 – Contract for Carbon Trust Incubation programme 2005 – Partial private placement of shares provide funds for investment 2005 – Contract for WRAP incubation programme 2006 – IPO raised further £26m for expansion and investment 2006 – Opened BioIncubator 2006 – Commercialisation Services Contract BAE Systems

  8. Imperial Innovations • Track Record • 250 new ideas each year • 50 new patents filed each year • 96 commercial IP deals in bioscience and engineering • Licence revenue ~ £2m pa • Realisations ~ £1 -2 m pa plus large exits • 58 spin-outs • 21 at incubation, 37 late stage • Team of 41 people

  9. Inventor Technology Transfer Market Research Industry Experts Commercialisation Realisation Royalties Market/ Application Product Champion Technology Product Field Trial Sales Proof of Concept Design Spin-out Incubation Licence Management From the Lab to Market

  10. Organisation Imperial Innovations Integrated Model Imperial College London Medical and Life Sciences Engineering & Physics Technology Transfer New Ventures Investment Management Medicine & Life Sciences Technology Transfer Engineering & Natural Sciences • Company formation • Board/management • Incubation • Investment ready • proposition • Shareholder management • Follow-on financings • Strategic input • Liquidity events • Exits • IP protection • Proof of Concept • Commercialisation decision • Company concepts scoped • Marketing/market research • Licensing External Sources Idea generation

  11. Leveraging our Networks • Industry • Imperial’s research partners ABB, BAE Systems, Qinetiq, Rolls Royce, BP, Shell and GSK • Innovative programmes • Shell Carbon Trust – £2m Low Carbon Seed Fund • Lilly Entrepreneur-in-Residence • Johnson & Johnson - Proof of concept • Academic • Panel of advisors and network experts • Investors • Network of investors, angels, VCs, corporate finance • Regular Spin-out forums • Entrepreneurs and Experienced Managers

  12. Midaz Lasers • Developing world’s smallest, most efficient and highest quality laser • Introduced range of industry customers, first laser tested commercially • Founded by Professor Mike Damzen and Dr Ara Minassian • Experienced management team introduced • Proof of Concept funding £25k • Seed funding round - £300k, of which£150k from Imperial Innovations • Occupied BioIncubator space Sept 06 • First product sold Oct 06

  13. Thickness Monitoring of Pipes • Major international energy company seeking a low cost, widely deployable pipeline wall thickness monitor • Prof Peter Cawley, Imperial NDT group involved in an industry academia liaison group made initial connection • Imperial patented a simple waveguide technology for use with ultrasonic test methods • Negotiated a development and Commercialisation Agreement • Currently halfway through development phase

  14. Integrated Business Interaction Business Understand Market/Technology Needs Create appropriate commercial deals to Transfer Technology Imperial Innovations Technology Assessment & Commercialisation Intelligent Business Solutions Incubation & Investment Source suitable technologies Others Imperial College London

  15. Summary • University Technology Transfer is part of a New Product Development Process • Achieve critical mass of good quality IP • Establish industrial networks and use them to get market knowledge • Collaborate with other partner organisations to deliver new product solutions not just good IP • Understand how to build value

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