UCL Technology Fund
The UCL Technology Fund is dedicated to investing in intellectual property commercialisation opportunities arising from UCL’s world-class research base, focusing in particular on the physical and life sciences. The Fund will support academics throughout UCL in achieving the full potential of innovations that have prospects for outstanding societal and market impact, right through the development journey from initial proof of concept to practical application.
The Fund is able to invest in opportunities drawn from across UCL’s research base and aims to support commercialisation by providing appropriate funding and commercial support. The Fund’s unique approach includes early stage proof-of-concept funding, development funding to achieve successful licensing outcomes, and funding for spin-out companies to take opportunities through to market.
Backed by leading venture investors – the European Investment Fund, Imperial Innovations and Albion Ventures – as well as UCL’s technology transfer business, UCLB, the Fund has a long-term and progressive attitude to funding, with direct access to follow-on investment. It is managed jointly by UCLB and Albion Ventures.
For more information, please contact:
UCL Business – +44 (0)20 7679 9000, email@example.com
The Apollo Therapeutics Fund is a unique collaboration between three global pharmaceutical companies (AstraZeneca, GlaxoSmithKline and Johnson & Johnson) and the technology transfer offices (TTOs) responsible for commercialising the research from Imperial College London, UCL (University College London) and the University of Cambridge. The £40m fund will provide translational research funding for early-stage therapeutics projects arising from the three universities.
This is the first time that three global pharmaceutical companies and the TTOs of three world-leading universities have come together to form a joint enterprise of this nature, making the Apollo Therapeutics Fund a truly innovative venture.
It not only provides an additional source of early-stage funding that will allow more projects to be progressed, but also involves the active participation of the industry partners, bringing commercial drug development expertise. Projects will be shaped at a very early stage to optimise the chances of onward development.
For further information, visit (UCL password protected):
or contact Dr Rick Fagan, Director BioPharm, UCLB
firstname.lastname@example.org 020 7679 9000
Proof of Concept Funds
Proof of concept (PoC) funds can be used to support the pre-commercialisation development of promising technologies emerging from UCL. Every technology requires different strategies to take them to market and the different funds available can be used to generate data to support commercialisation, produce prototype devices or even to undertake pre-clinical activities.
UCL Business PLC (UCLB) has access to a number of funds, each with their own application and approval procedure:
• CBRC (Comprehensive Biomedical Research Centre)
A maximum of £50,000 per award can be applied for using the standard UCLB application form. Applications for CBRC funded awards require approval by the CBRC Advisory Board. Not to be used for animal studies.
• J&J (Johnson & Johnson)
Awards of up to £75,000 are available on a call by call basis. Preliminary abstracts can be submitted to UCLB and forwarded to J&J. If the abstract is approved the PI will be invited to submit a full application to the UCLB/J&J committee.
• Moorfields Fund
The Moorfields Fund is open to applications of up to £50,000 for projects relating to ophthalmology.
Applications over £25,000 require external independent approval and signature by Professor Peng Khaw.
• UCLB Fund
A UCLB controlled fund of up to £100,000 per annum. This award is approved and managed internally.
Application forms should be completed by the principal investigator (PI) and UCLB Business Manager (BM) – to find out which BM looks after your department, please check our people page. When the form has been completed the BM will present the application internally.
If it is agreed internally that the application should be progressed, the application will be forwarded for external review if applicable. External review is required for HEIF applications in excess of £100,000, CBRC, J&J, MIMIT and Moorfields funds.
Once the application has been approved and signed the PI will receive an award letter outlining the terms of the awards including award value and the milestones on which the award will be funded.
Upon signature of the award letter by the PI, an account will be requested through UCL Finance and the Departmental Administrator for use by the PI for the duration of the project. This account will hold milestone payments and be used for paying costs related to the award.
When milestones are completed the PI is expected to submit a progress report to UCLB in order to review progress and release further tranches of money. This report should also be submitted with more detail upon completion of a project with a balance and transaction report of the PoC account.
Each PoC should be planned against a Fund Return Date, whereby the remaining balance on a PoC account should be returned to the fund if the project remains uncompleted, expired or abandoned – projects which are unlikely to be completed by the original fund return date can be extended by issuing a further PoC award letter.