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26 February 2009. Timothy Barnes, Executive Director, UCL Advances Cengiz Tarhan, Managing Director, UCL Business PLC Enterprise Engagement at UCL. Overview. UCL - London’s research and teaching powerhouse.
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26 February 2009 Timothy Barnes, Executive Director, UCL Advances Cengiz Tarhan, Managing Director, UCL Business PLC Enterprise Engagement at UCL
UCL - London’s research and teaching powerhouse • Established over 180 years ago the first university in England to admit students of any race, class or religion, and the first to welcome women on equal terms with men • The first in England to teach experimental science, modern European languages, Laws… • Many research firsts: • The first transatlantic connection of the precursor of the internet • The identification of the generation and propagation of nervous impulses • The discovery of inert gases, including neon • The invention of the thermionic valve, which made radio and modern electronics possible • Identification of the binding receptor for HIV
54 academic departments grouped into 8 faculties • Multi-disciplinary - from Fine Art to Medicine • Internationally-renowned centres of excellence, e.g. • UCL Bartlett faculty of Built Environment • UCL Neuroscience • UCL Slade School of Fine Art • Over 4,000 research staff • 20 Nobel Prize winners (including Mahatma Gandhi, Andrew Huxley and Bernard Katz …) • 34 Fellows of the Royal Society • 77 Fellows of the Academy of Medical Sciences • Over £600M per year in research
Knowledge dissemination Knowledge creation UCL relationships Enterprise engagement $ € £ UCL Enterprise Strategy UCL Advances Developing the culture of business and entrepreneurship Underlying Support from: -Office of VP Enterprise -Corporate Alliances -Business Partnerships -KTP Office -Others Academic Departments Research, publishing and teaching UCL Business Transactions Intellectual property Capital and revenue
$ € £ The commercial academic’s story UCL Advances 1a –With help from UCL Advances, academic learns potential benefits of collaborating with business, undertakes training and finds opportunity to engage through networking. 3 –The project becomes a case study for research and the successful academic is championed by UCL Advances to inspire others at UCL and beyond, which helps attract talent to the academic department and UCL as a whole. 1b –Academic returns to UCL Business with potential commercial project, such as spin-out, license or consulting. UCL Business carry-out due diligence, assist with patenting, provide proof-of-concept funding, company formation and other services and assistance as required. Academic Departments $ € £ UCL Business 2 –The project makes financial returns that are distributed to the researcher, their academic department and UCL Business. The project leads to new links that return research publications and opportunities to UCL.
Introduction to UCL Advances • Founded in 2007 as UCL’s centre for entrepreneurship and business interaction • Forms part of a unique arrangement among UK universities in delivering knowledge transfer to businesses • Aims to bring together academic researchers, businesses and investors and stimulate new collaborations that will drive innovations that benefit the economy and society
Events and Networking Bring people together by catalysing connections Training and Skills Make them more effective by developing new capabilities Support Schemes Provide inducements to engage and collaborate Building collaborations - a three step process
Events and networking • Bringing people together • Technology Innovation Forums • 3 per year, each forming the core of annual theme programme • Hosted events • Bringing external organisations into UCL, supporting other activities • UCL Awards for Enterprise • Six categories rewarding entrepreneurship and commercial engagement for faculty and students • Maintaining links • ‘Speed-dating’ events for those interested in collaborating • UCL Additions social networking system at www.ucladditions.com
Training and development • London Entrepreneurs’ Challenge • Entry-level programme in the basics of starting a business with 300-400 participants per year • Scientists and Researchers in the Business World • Deeper training for faculty and researchers in a broad set of business concepts • Marketing Science to Business • For faculty and researchers, working on specific skill sets in depth • Online Entrepreneurship Resources • Supporting programmes across UCL; available to all
Support schemes • Providing support with negotiating knowledge transfer support schemes at UCL • Delivery of ‘Knowledge Exchange Associates’ • KTA-funded programme to place five completing PhD students into SMEs to transfer skills and know-how • Secondment-into-Knowledge • LDA programme supporting academics across London that work with SME’s to solve technical problems
Introduction • Commercial arm of UCL • Wholly-owned • Relationship governed by MoU between UCL and UCLB • Financially self-sufficient • Profitable • Strong Board with industry expertise • Interface between UCL and industry
Financial performance Excludes any capital appreciation or impairment of investments
Company creation example: Medic-to-Medic • Created in 2000 • Direct investment £1.7M • 2004 - £10M contract with Fujitsu • 2005 - £20M contract with Accenture • 2005 - Asset sale to Informa PLC - £10.5M • 2008 – Acquired by Hearst for an undisclosed sum • Profit £5M (£1.5M each to UCL and Royal Free Hospital) • Map of Medicine product now available to 52 m UK residents at www.nhs.uk and at the core of the NHS connecting for health programme
Licensing Example: Hepatic Encephalopathy Project • Therapeutic area - liver failure (annual market >$500M) • Initially invested ≈£60K PoC funds to validate and secure IP position • UCLB then committed £500K mile-stoned funding • Efficacy studies on new formulation (PK/PD) • Toxicology studies (outsource) • GMP production for First in Man • CTA to MHRA • A further £750K received from a MRC Experimental Medicine grant • December 2008 - Licensed out for $40m package + royalties
26 February 2009 Timothy Barnes, Executive Director, UCL Advances t.barnes@ucl.ac.uk www.ucl.ac.uk/advances Cengiz Tarhan, Managing Director, UCL Business PLC c.tarhan@ucl.ac.uk www.uclb.com