Innovation to Impact Commercialisation of research in practice Trevor Power Business Development Manager IAS Symposium 19th May 2016

Agenda Warwick Ventures Relevance to Early Career Researchers Some terminology Technology Transfer Knowledge Exchange and Commercialisation (KEC) Translation

Warwick Ventures Ltd We manage the intellectual property (IP) the University derives from its research A service for academics - and other University innovators A source of opportunities for industry Our Goals: Impact Reputation Financial Return

WVL’s role We help translate the University’s research outputs into products and services that benefit the economy and society (“Impact”) Innovation discovery and planning Intellectual property management Translational funding Market & concept development Licensing Spinouts Software Incubator Student enterprise

Commercial opportunities Tech opportunity Score Market opportunity WV opportunity Uniqueness   Value Reputation /20 Readiness Edge WU value Tech Development Margin WU success Academic Conservatism WU time Relevance Route-Market WV exit /25 WV cost WV added value Licence (+) or Spinout (-) /50 Originally developed by our former CEO, this process has been developed and refined to fit our purpose (taking more account of University reputation and not discriminating against licensing opportunities, as opposed to spinouts). It is not used as a stop/go measure, but as a tool to prioritise projects, also to spot weak points and to guide how they may be improved to increase their commercial appeal. All technology commercialisation offices need to fulfil this function somehow. Not all use a formal process such as this, for example, Isis works by gut feeling and peer review.

Intellectual property Patents Trademarks Plant breeder rights Design rights Copyright Database rights Performers rights Know how

Intellectual property Patents Trademarks Plant breeder rights Design rights Copyright Database rights Performers rights Know how

‘Hard’ (registerable) IP Inventions – file application at IP office Once granted & renewed provides 20 years of protection Need for novelty & inventive step Some exclusions e.g. surgical processes Names Logos Slogans File application with IP office. Unlimited duration if renewed every 10 years. Hard IP can be registered at the local IPO (or for Plant Breeder Rights with FERA – The Food and Environment Research Agency) Patents – How something works Design Rights – How something looks Trademarks – Designation of origin and reputation Plant Breeder – New plant varieties What’s not patentable Discoveries Scientific theories Mathematical methods Surgical techniques Thought processes Technologies contrary to national security Design rights & other forms of IP too: If you are commissioned or an employee then any designs that you produce are likely to be owned by the commissioner or the employer. (Usually covered in employment contracts or Co. regulations)

More ‘Hard’ IP New plant varieties File application with FERA. Protection for 25/30 years from date right is granted. Covers the outward appearance of an article Design must be “new & materially different” Can also be registered Rights lasts 5 years but extendable to 25. (unregistered last 15 years)

‘Soft’ IP Arises automatically, but can be registered Private right belonging to creator Covers software, artistic & literary work Duration depends on medium (usually 50 – 70 years) About the right for commercial exploitation of “a work” For original selections and arrangements of contents Provides protection for 15 years from making or publication. Don’t have to register these – coming in to being automatically Copyrights – Expression of ideas, literary works, creative activity, software code. (Can be registered but unusual) Database rights – Collections of data – copyright laws govern to a large extent Performers rights Know How/Trade Secrets – Not an IPR as such, more ‘keeping a secret’ confidential, exploitable, marketable and licensable (coca cola)

More ‘Soft’ IP Rights in a performance Any recording, film, broadcast, presentation, performance For copies to be made performers permission needed In addition to copyright of any material being performed For original selections and arrangements of contents Provides protection for 15 years from making or publication. Don’t have to register these – coming in to being automatically Copyrights – Expression of ideas, literary works, creative activity, software code. (Can be registered but unusual) Database rights – Collections of data – copyright laws govern to a large extent Performers rights Know How/Trade Secrets – Not an IPR as such, more ‘keeping a secret’ confidential, exploitable, marketable and licensable (coca cola)

Developing and exploiting IP RESEACH Grant Funding Industry Funding Philanthropic Donations DEVELOPMENT Proof-of-Concept Funding University Impact Fund Approx. £400k p.a. Maximum awarded ~ £30k WVL PoC Approx. £200 p.a. Awards ~£10k COMMERCIALISATION Commercial Investment Business Angels VCs & CVCs Companies & Businesses Set-up a company to develop, maybe to manufacture, and maybe sell Negotiate with a third party who develops and sells SPINOUT OPTION LICENSING OPTION Warwick Ventures offers a service for University innovators Pays for patents/IP protection and provides advice. Provides proof-of-concept funding Negotiates commercial deals Collects and distributes proceeds of exploitation Two main options. Depends very much on the invention or creation and also the people involved in terms of which path you take. Some of the benefit of licensing though:

Commercialisation Service Market opportunities to industry; OR Build Spin-out Companies Business Plan Management team Pitch Find partners, raise finance & grants, negotiate contracts, manage the process Exit and/or Distribute the proceeds

Student Enterprise Support Liaise with Warwick Entrepreneurs Society Part of Warwick Enterprise Partnership We have directly supported Student ventures We have a Software Incubator for Students and others.

WVL’s activities 100 Ideas a year (Over 1000 total) 18 licences a year (£2m) 35 Patents a year filed (300 total) 3 spin-outs a year (65 total, raised £50m) Also (occasionally) support undergrads new business Raised £4.2m for one in last 5 years

The Importance of ECRs We can only support you (and PIs) With Impact agenda 1842 Academics/Researchers 8 FTE WVL – who do we work with? Need more scalable and efficient offering Give capability, work with, experiential Impact planning, early market validation Minimum viable product Not commercialisation! But translation…

The Importance of ECRs Government sees: So what to do? Too few traditional jobs for Post-Docs Innovations from Universities not being exploited Economy changing – knowledge intensive Need to stimulate the growth of the economy So what to do? Find ways to develop entrepreneurial Post-Docs Stimulate spin-outs, start-ups Task Research Councils and Dept of Business Innovation and Skills

ICURe – Pilot scheme

Building Skills - Bootcamp Entrepreneurial Mind set Idea generation Planning Discovery conversations Lean start up – minimum viable product Value Propositions Pitching, Elevator pitches, working the room Emotional Intelligence Team Building

ICURe Then send them out to create networks Validate possibility to start a company Enhance University/Industry Collaboration Put them in front of possible employers Kill the idea as not wanted Support/Seed Fund the best entrepreneurial post Docs

Thank you for listening Any questions? t.power@warwick.ac.uk 07590 549 453

Thank you for listening Any questions? t.power@warwick.ac.uk 07590 549 453