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Cambridge Enterprise Limited
An overview
April 2007
www.enterprise.cam.ac.uk
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University of Cambridge
University established in 1209
Students: 16,500 (11,600 u/c, 5,000 p/c)
20% from overseas representing 100 countries
Over 100 departments, faculties and schools
World Class Ranking (Shanghai 2005)
1. Harvard
2. Cambridge
3. Stanford
4. Berkeley
5. MIT
6. Caltech
7. Columbia
8. Princeton
9. Chicago
10.Oxford
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Data for 2005/6
University research funding
Total £295.5 million
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The Cambridge Phenomenon
• University people and ideas are at the core of many new technology ventures
• Over 1,000 innovation based companies– >500 in IT and >200 in the Life Sciences, the most rapidly expanding
sectors– Nicknamed ‘Silicon Fen’– 8% of all European venture capital invested in Cambridge
(Library House: first half of 2004)
• University organisations have helped develop the infrastructure of the ‘cluster’– Trinity College: Cambridge Science Park– St. John’s Innovation Centre– Peterhouse Technology Park
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Teaching and researchIntellectual
property
RSD Partnership Group
Cambridge Enterprise
Large companies
SMEs
Embedded research labs and Licensing
research communities Consultancy
Support for technology transfer
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Existing business
Form a business
Inventions
Software
Materials
Patenting
&
Marketing
Commercial Agreements
3 months
DueDiligence
&
Revenue Distribution
6 – 24 months
6 months – 20 years
Baseline - Selected Technology Transfer Metrics for 2005/6
152 annual disclosures 800 cases under mgmt
59 new patent applications350 patent familiesUnder mgmt
61 agreements, (4 spinouts)243 agreements under mgmt (54 spinouts
£3.3 million
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Baseline
• For fiscal year 05/06:– 61 commercialisation contracts closed with new and
existing companies to commercialise University of Cambridge innovations.
– £6.2 million was generated in consultancy and technology transfer
– £5.3 million was distributed to stakeholders (academics and departments).
– £1.6 million in seed fund realisations (most of which is available for reinvestment per evergreen structure)
– 25 FTEs and costs of operations/personnel covered by net revenues, grants and HEIF funding
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Baseline - assets under management
• Three overlapping portfolios– Licensing contracts and corresponding
revenue streams (250+)– Consultancy contracts with corresponding
revenue streams (150+)– Equity holdings obtained in consideration of
license, equity investment or non-financial support (60+)
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Recent relevant policy and organisational milestones
Intellectual Property – as of December 2005• The University has the initial right to apply for patents arising from
work of staff and students of the University • Cambridge Enterprise reviews inventions for patenting within 30
days – or longer if mutually agreed• Copyright in software belongs to academics
Organisational Structure – as of December 2006• Cambridge Enterprise is a Limited Company• The University of Cambridge is the shareholder
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Structure and GovernanceCambridge Enterprise Relationship to
University of Cambridge Committee Structure
Regent House
CouncilGeneral
Board
EducationResearch
PolicyFinance
CommitteePlanning & Resources
BuildingsCouncils of
Schools
Cambridge Enterprise Ltd
Board of DirectorsInterfaces Here
Cambridge Enterprise Ltd
Chief Executive Interfaces Here
as a member RPC
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Markets
• The focus of the plan are the internal and external markets CE must understand and address:
– The primary internal customers are University of Cambridge academics and also include:
• Academics and Students• Administration (VC, Pro-VC, Registrary, Financial Director)• Departments and Schools• Colleges• Units with overlapping interests (RSD, Communications, Development)• Governing bodies
– The primary external customers are buyers of IP or licensees but also include:
• Companies interested in IP• Investors interested in University affiliated companies and entrepreneurs• Organisations with relationships with the above such as Consultancies• Professional advisors (fund raisers, banks, law firms, accountants• Service providers such as incubators• Government and other granting agencies
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Principles
1. Accept cases into the portfolio with the strongest potential to make a significant positive impact and using commercial channels is the most reasonable means to bring the idea forward.
2. Take the course which supports commercialisation of the technology.
3. Work effectively with the inventor(s) to support their aspirations, manage conflicts and encourage synergy with the mission of the university.
4. Find the best partner (licensee or start-up senior management and investors) to take the idea forward.
5. Negotiate fair and reasonable terms which reflect the contribution of the assets and expertise being transferred.
6. Close lots of good deals.
7. Look after the deals once they are closed.
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9 points to consider in licensing university technology
1. Universities should reserve the right to practice licensed inventions and allow other non-profit and governmental organisations to do so.
2. Exclusive licenses should be structured in a manner that encourages technology development and use.
3. Strive to minimize the licensing of future improvements.4. Universities to anticipate and help manage technology transfer
related conflicts of interest.5. Ensure broad access to research tools.6. Enforcement action should be carefully considered.7. Be mindful of export regulations.8. Be mindful of the implications of working with patent aggregators.9. Consider including provisions that address unmet needs, such as
those of neglected patient populations or geographic areas, giving particular attention to improved therapeutics, diagnostics and agriculture technologies for the developing world.
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Closing thoughts
• The environment for our working grows increasing complex. These complexities are: cultural, political, legal, financial, operational, technical and interpersonal.
• Working well at the interface of for-profit and not-for-profit systems is one of the keys capturing value from innovation. Both systems work well: for-profit system and the academic innovation machine. If you compromise either one delivering innovation to the public isn’t sustainable. In order to work at this interface it’s important to understand and respect both machines.
• One of major challenges in working at this interface is managing multiple missions. That is we are, as a university, engaged in commercialising certain research results for the purpose of: a better world, a more robust economy, service and support to academics and students, building industry relationships, and revenue generation.
• Capturing a fair return on our intellectual property assets is not only and responsibility, it is irresponsible not to do this.
• Accordingly, a principle centred approach is more important than ever. And, innovation is more important than ever: innovation doesn’t just need to occur in the laboratory, it needs to occur in policy, legal, financial and business arenas as well.
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A selection of technology companies formed by University of Cambridge staff and students
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Cambridge Positioning Systems Ltd
High accuracy mobile location solutions
www.cursorsystem.com
October 1997
Cambridge Display Technology Inc
Application of light emitting polymers
www.cdtltd.co.uk
July 1992
Granta Design Limited
Software for engineering materials IT
www.grantadesign.com
April 1994
BlueGnome Ltd
Statistical modelling software for drug -
discovery.
www.cambridgebluegnome.com
October 2001
Cambridge Flow Solutions Ltd
Consultancy and provider of CFD software
www.cambridgeflowsolutions.com
February 1999
ZinWave Ltd
Unified wireless infrastructure
www.zinwave.com
November 2002
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Metalysis Ltd
Generic Electrolytic Processes
www.metalysis.com
October 2001
Hypertag Ltd
Wireless Information Access
www.hypertag.com
December 2003
Plastic Logic Ltd
Development of Plastic Semiconductors
www.plasticlogic.com
November 2000
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Cambridge Semiconductor Ltd
Power Electronics
www.camsemi.com
July 2000
CEDAR Audio Limited
Signal Processing
www.cedaraudio.com
February 1989
Genapta Ltd
Next generation bio photonics
www.genapta.com
July 2001
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Cambridge Biotechnology Ltd
Neuroscience drug target and discovery
www.camb-biotech.com
June 2001
Biotica Technology Ltd
bioticaTECHNOLOGY LIMITED
bioticaTECHNOLOGY LIMITED
Therapeutic polyketides
www.biotica.co.uk
April 1997
De Novo Pharmaceuticals
Ltd
In Silico drug design
www.denovopharma.com
April 1999
Astex Technology Ltd
Fragment-based drug discovery
www.astex-technology.com
December 1999
Co-founded with University Staff
KuDOS Pharmaceuticals Ltd
DNA repair inhibitors and other small molecule anticancers
www.kudospharma.co.uk
December 1997
A Selection of Biotechnology companies formed by University of Cambridge staff and students
Cambridge Biotransforms Ltd
Bio-organic chemical transformations
March 1997
Diagnostics for the Real
World Ltd
Diagnostics f or the Real World Ltd
Diagnostics for third world countries
April 2003
Daniolabs Ltd
Phenotype driven drug discovery
www.daniolabs.com
July 2002
Solexa Ltd
The analysis of DNA
www.solexa.co.uk
September 1998
Paradigm Therapeutics Ltd
Novel drug targets
www.paradigm-therapeutics.co.uk
June 1998
24/05/2004 © Cambridge Enterprise, 2nd Floor, 16 Mill Lane, Cambridge, CB2 1SB. Phone: +44 (0) 1223 760339. Fax: +44 (0) 1223 332988. E-mail: [email protected]
Chroma Therapeutics Ltd
Novel anti-cancer medicines
September 2001
Akubio Ltd
Acoustic Detection Technology
www.akubio.com
August 2001
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for additional information
• www.autm.net
• www.univo.org.uk
• www.praxiscourses.org.uk
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Cambridge Enterprise LimitedUniversity of Cambridge10 Trumpington Street
CambridgeCB2 1QA
www.enterprise.cam.ac.uk
Tel: +44 (0) 1223 760339Fax: +44 (0) 1223 764888