Integrating%20Innovation

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 Colleges key strengths
• Focused on industrial problems
• Multi-disciplinary approach

7
Imperial Innovations

• 1987 Technology transfer office set up to
  exploit Imperials IP
• 1997 DTI Biotech exploitation and incubation
  programme
• 2002 UCSF plus financing deals with Nikko and
  FFP 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
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
• Imperials 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 worlds 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 which150k 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
Intelligent Business Solutions
Technology Assessment Commercialisation
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