Insights
New guidelines for software spinouts pave the way for a new era of rapid innovation
24 May 2024
I was excited to be part of the launch of the University Spinout Investment Terms Software Guide (USIT) at Mansion House. This guide is an important step forward in the work that the leading university technology transfer offices have been undertaking to create a fair and clear framework that will help academics and researchers in our universities establish spinout businesses to create real world impact by commercialising their innovations.
Last year I was delighted to represent UCLB as one of the leading advisors in developing the more wide-ranging USIT Guide for life science spinout formation, and subsequently with this latest guide, focusing on the special needs of software spinouts.
Throughout that process we have heard from many academic founders of spinout businesses as well as other key players in the innovation ecosystem such as investors. It’s been great to see the energy, enthusiasm and collaboration to create much-welcomed clarity for those academics following in their footsteps to create the software businesses of tomorrow.
That’s especially important now, as these emerging software spinouts and the university research they’re built around are set to transform all our lives and be a major creator of jobs and prosperity for the next generation.
Companies like Odin Vision, are offering a potentially life-saving impact to patients. The award winning cloud AI company is using AI and space technology to help clinicians improve the early detection of bowel and other cancers. Odin was one of the first companies to use our Portico Ventures spinout model which helps UCL researchers to establish technology-based spinout businesses in a fast-moving ecosystem.
And for me, that’s what it’s all about – making a global difference; creating businesses to accelerate amazing innovations from the university lab and out into the market to transform lives for the better.
Dr Anne Lane, CEO, UCLB
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