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

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

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

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

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

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

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

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

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

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

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

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