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Winning the Wealth Creation War for Wales Role of its Universities

Winning the Wealth Creation War for Wales Role of its Universities. Engineering Professors Conference April 2004. Wales has traditionally depended upon sunset industries, inward investment and grant aid for its economic well-being.

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Winning the Wealth Creation War for Wales Role of its Universities

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  1. Winning the Wealth Creation War for WalesRole of its Universities Engineering Professors Conference April 2004

  2. Wales has traditionally depended upon sunset industries, inward investment and grant aid for its economic well-being. Is it possible to move away from this ‘dependency culture’ by a greater reliance on indigenous talent?

  3. …………..and if so what should the role be of the Universities?

  4. The Challenge • GDP is 75% of EU average • 23 listed Welsh Companies (0.8% of UK) (5% of Population) • 2500 new Companies needed per year to reach UK average (VAT Registrations)

  5. Objective One • £2.4 Billion • Over the period 2001 to 2007

  6. Universities as a Resource • 80,000 Students • 4000 Staff • Diverse expertise • Specialist Technical Services • £80M annual Research income • Capacity for Training and Consultancy

  7. Support Graduates Training Consultancy Projects Collab. R&D Enabling Grants Deal Flow Alumni Entrepreneurs Intellectual Property Spin-Out Companies What can they Contribute?

  8. Alumni Entrepreneurs

  9. Alumni Companies Osprey Metals Ltd CDR Ltd The CAD Centre (UK) Ltd Rockfield Software Ltd TeleDermatology (TDS) Ltd Swansea Tribology Services ImagitechComputeraid Ltd Earth Resources LtdCJ Controls Ltd Opinion Research Services SLS Ltd Newbridge NetworksA&A Electronics Eidawn Materials Research Eidawn Software Race Electronics Ltd

  10. Some more Crosskeys Mitel LTX Corporation Bridgewater Systems Cambrian Elantec Castleton Newport Networks Enfis Ltd Acorn/Arm Fastlane Starvision SpaceBridge Beam SceneDouble Coastform Seden Ind & Tech Serv. Pty Ltd Palang Sophon Breconridge

  11. Alumni Entrepreneurs • Some 30 to 40 out of Swansea alone • Aggregate value, some $6Bn Mkt. Cap. • 10’s of thousands of jobs created • All Over the world • No direct use of University IP • No Women! • More than 20 listed Companies!! • Often not with the best degrees • One in several hundred students

  12. Intellectual Property

  13. Some Views about Patenting • Expensive to maintain • VC’s often insist on a strong IP portfolio • Rarely make large amounts of money • Often used defensively (Blocks of IP traded or cross-licensed) • Best Protection of IP is to continue to innovate

  14. Make your own products obsolete before your Competitors do

  15. University IP • Licensing • Can be lucrative for Licensee and University • Not generally a huge potential for Job Creation • Doesn’t address the low number of listed companies

  16. Spin Out Companies

  17. How they are Conceived Profitable Business Brilliant Research Profitable Business Market Analysis

  18. How Businesses Start(Silicon Valley Experience) Transistor Integrated Circuit Quantum Computing? MicroProcessor Neural Networks Silicon Compiler

  19. Carver Mead • The best Innovative ideas come from a coalescence of what is possible and what the market requires. • The process can inform and enrich University Research

  20. Structure • Preferred Option: • Bring together the following and form University-linked spin-out companies: • Entrepreneurs Alumni, Staff, Incomers • University IP (Assigned to Company in selected Sector) • Finance (VC’s Bus.Angels’s and Grant Aid) • Premises: Technium Centres

  21. Support through Partnership(TECHNIUM) BroadBand IP IPO Sale Premises R&D Start-Up Grants Staff Venture Capital Business Planning Life- Style Fail

  22. Statistics XX Actual XX Projected

  23. Technium Programme

  24. Technium 1 Over 18 Months: • 17 Companies • 75% Graduates • 72% R&D • Turnover (5M to 7.5M) • 300% Increase in Staff

  25. Breakdown of 38 companies in 2007 Life Style/Ongoing 29 Trade Sale 3 IPO 4

  26. All Wales • Breakdown of 96 companies in 2007 • Life Style/Ongoing 76 • Trade Sale 8 • IPO 12

  27. Conclusions To meet the Challenge, Universities need to • Raise awareness for future Entrepreneurs to start their companies locally • Show a greater understanding of the role of their Intellectual Property • Form Public/Private Partnerships to provide support networks • Recognise Entrepreneurial Success

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