UCLB business managers work with innovators to identify potential licensees, and lead the negotiations with the licensing partner. Licensing is an excellent way to progress innovations, making new products and services that can benefit healthcare consumers. An innovative idea is developed to the stage where a potential licensee can see that it has value, its worth being evidenced through research prototyping and testing. UCLB has an experienced project management team who will work with you and the business manager to bring your idea to a point where it is ready to be marketed to potential licensees. The business manager works with you and the project team to identify licensees, and will lead on preliminary discussions and any subsequent negotiations with a licensing partner.
Social enterprise is a type of spin-out business that can be set up. When considering whether an idea could form the nucleus of a social enterprise the business rationale must includes social aims and the idea or innovation would be best developed through a company, but that it may not have the characteristics that make it suitable for purely commercial venture investors. There is no standard definition for social enterprise. We use the UK Cabinet Office definition:
“Social enterprises are businesses with primarily social objectives. They principally reinvest their surpluses in the business or community for these purposes. Unlike commercial businesses, they are not driven by the need to produce profit for shareholders and owners. Social enterprises range from small community-owned businesses to large charities delivering public services and from individual social entrepreneurs to national businesses.”
At UCLB we can provide departments and institutes with a comprehensive and friendly project management service.
Our dedicated project managers are fully qualified, and equipped with the appropriate knowledge, contacts, expertise and experience to support either substantive single or multiple stakeholder projects.
For a negotiated fee, our project managers work closely with UCLB business managers to proactively assist the principal investigators and clinicians in managing the full life cycle of the project, as well as contributing to teamwork within the group. They also maintain effective liaison with key people and organisations, both internal and external, to ensure that projects are delivered according to plan, on time and within budget.
UCLB Project Management Services offers an expert, reliable and professional service for all your project management needs. Find out more
If spinout is the preferred commercial route, project development usually begins with detailed market assessment activities and the preparation of a business plan. If this confirms that a spinout company is a feasible proposition, then the technology transfer team works with the inventors and external advisors to raise funds and recruit a management team with skills and experience capable of exploiting the opportunity.
Creating a spinout company around a technology has the potential to generate significant wealth, as a large share of any profits are retained by the company, with the inventors being shareholders in that company. Creating a spinout may also be an appropriate commercialisation route when there is a need to develop a technology further to extract its commercial value, or when the team surrounding the technology are strongly entrepreneurial.