Talking Tech Transfer

Is 2025 the year that university technology transfer will see a big boost? It certainly looks promising, particularly in the UK, where a government-led spinout review has encouraged universities to lower equity in spinouts to 25%. Most universities in the UK have adopted the guidelines. The debate over equity stakes is a discussion that Michele Barbour, associate pro vice-chancellor for enterprise and innovation at the University of Bristol, says she actually welcomed because it gave tech transfer a visibility that had so far lacked.

To date, 49 universities in the UK have adopted a recommendation to take between 10% and 25% equity in their life science spinouts. The recommendation was inspired by the USIT Guide, published last year by tech transfer group TenU, making it the guide's arguably biggest impact yet.

The UK government has committed £40m ($50m) to proof of concept funding over the next five years. How should the money available be deployed? One idea — inspired by the Flemish approach — is to set up investment committees of industry, VC and university experts to allocate the money.

A year ago, Irene Tracey, vice-chancellor of the University of Oxford, and Andrew Williamson, chief executive of venture capital firm Cambridge Innovation Capital, published their UK government-sponsored report into the spinout ecosystem with a list of 11 recommendations on how to uplift the sector.

Whisky may not be the first industry to come to mind when you think of university innovation, but for the University of Kentucky — based in a US state known around the world for its bourbon industry — it's an obvious next step in its tech transfer activities.

Researchers with promising technology in the UK can apply for public innovation agency Innovate UK's pre-accelerator programme ICURe, which supports them in reaching out to 100 potential customers to understand the market viability of their idea.

Just over a fifth of academic institutions in Asia have access to a dedicated university venture fund, with a third of all funds found in Japan — that's the finding of GUV's latest regional analysis published last week.

Should professors be spinout founders? An increasing number of universities are pushing their faculty to be more entrepreneurial but data suggests that that's not always a good thing — for the professor, the spinout or the students.

Despite the benefits of universities having a venture fund they can draw on to invest in companies they help commercialise, they are still a rarity in places with mature venture capital sectors like Europe and the US.

We look back at some of the highlights of season 3, which featured many a discussion about university incubator and accelerator programmes, including insights from Jim Shaikh (The Greenhouse at Imperial College London), Paul Devlin (Cardiff University), Brandon Paschal (LaunchLab at Stellenbosch University), and Duncan Johnson and Miles Kirby (NG Studios powered by Deeptech Labs).

Andy Shenk, the chief executive of Auckland UniServices, the commercialisation subsidiary of the University of Auckland, knows that collaborating with the Māori people is important. He also knows that big data and AI offer great opportunities, but tells me about some of the challenges too.

Setting up a venture fund in 2020 was a “huge paradigm shift” for Stellenbosch University in South Africa, because, for the first time, the executive leadership at the institution became interested in spinouts, says Anita Nel, the chief director for innovation and business development, because they understood that academic research had commercial value and a way to build, for example, local pharmaceutical expertise (the country had to wait six months longer than the northern hemisphere for a covid-19 vaccine because there were no vaccine developers or drug discovery companies in all of Africa).

Immigrants are profoundly entrepreneurial people: they leave behind everything they know for a new country and new opportunities, often at a financial risk. This willingness to embrace change and build a new life from scratch means it should not be a surprise that in the US alone, 43% of Fortune 500 companies have been founded by immigrants.

Commercialising social sciences research is such a new area of technology transfer that when you spin out a company “you might be the first to do that type of deal,” says Paul Devlin, the head of research commercialisation and impact at Cardiff University.

Last month, EMV Capital, a fund management subsidiary of British investment firm NetScientific, took over Martlet Capital, a Cambridge, UK-focused investor that had been the corporate venture arm of aerospace and defence company Marshall Group for nine years until 2021. The decision was the natural conclusion to EMV's earlier decision to become an investor in Martlet and allows the investor to further tap into the Cambridge cluster, NetScientific CEO Ilian Iliev says.

Universities, by their very nature, have always been strong centres of innovation. Scientific discoveries are routinely made in university research labs – but spinning those discoveries out into an operational business comes with numerous hurdles.

Duncan Johnson argues that spinout founders in the north of England need to learn to think bigger. That's not just a question of access to capital (his investment firm Northern Gritstone has £312m at its disposal) but also of infrastructure to mentor and nurture these founders.

Some of the most innovative clean energy and climate technologies originate in the labs of the world's research universities. At Imperial College London's climate innovation accelerator, The Greenhouse, startups address solutions in niche areas such as bio-textiles, waste management and green hydrogen.

We take a look back at some of the key insights shared by guests on season 2 of Beyond the Breakthrough.

Licensing intellectual property to a spinout can take frustratingly long and end with terms for a spinout that a venture capital investor might not be comfortable with — the university taking too large a share is a typical argument that you'll hear particularly in the UK. There are initiatives to speed this up. The US has BOLT and the UK has the USIT Guides, template term sheets co-developed by tech transfer offices, investors and law firms to significantly speed up the process. Ireland even has a national IP protocol.

How do you get beyond the many roadblocks stopping cutting-edge technology from being adopted by healthcare providers – which naturally have a lot of safety concerns, and often sizeable budget constraints too. Are hospitals moving to being completely decentralised in the future? And is AI about to revolutionise how hospitals are run?

Stanford may be a recognised world-leader when it comes to startups, but it mustn't rest on its laurels. Sometimes that even means launching initiatives that others have long had — that is just one of the lessons that Karin Immergluck, executive director of Stanford's Office of Technology Licensing, has learnt. Karin also tells us what the US can learn from its international peers, why TenU is an important component of her work and she examines the importance of erasing bias in hiring processes, including in leadership positions.

Diversity is not just about making sure more women and underrepresented minorities are on founding teams. When they do create businesses, they are typically ignored by venture capital investors who look for the same type of founders that have previously made money (creating a vicious circle). In the US, female founders raised just 2% of the VC money in 2023, and in Europe it was even less at 1.8%, according to PitchBook.

Imagine your corporate R&D team is facing a problem so complex it requires the world's top researchers to solve. How do you find the right expert? You could scour endless academic papers or slowly build relationships with individual universities. You could invest in startups that are developing a solution. Or you could go to Halo, a matchmaker for cutting-edge research and real-world problems.

A PhD student who sets up a spinout and becomes its CEO is 21% better at returning an investor's money than a serial founder would be if installed in the same spinout. Even more impressively, a PhD student turned chief executive is 46% better at making a venture capital fund money than a former CEO from a large company would be.

Can university spinouts help fight poverty? That's a question Kelley Rich, interim vice-president for innovation at the University of Notre Dame, is trying to answer as head of the institution's innovation hub IDEA Center. It's part of a campus-wide initiative launched in January 2024 that will see increased poverty research taking place — it gets to the heart of the private Catholic university's mission of bringing about positive societal change.

Mark Billingsley, director of the University of Alaska Fairbanks‘ Tech Transfer Office and Innovation Hub, joined Beyond the Breakthrough in April 2022 and today we're revisiting this conversation because it's still one of the most unusual places covered on the podcast.

Weirdly, being located at the heart of the US capital doesn't always help Georgetown University when it comes to creating spinout companies. State universities often have economic development mandates that they can follow, but in Washington DC Georgetown is in something of a vacuum — with little direction for what to focus on, less set funding and fewer people pushing to advance the technologies coming out of the institution.

Silicon Valley is the home of venture capital and startups — but drive an hour or two outside of the city and you are in a different world. Take Monterey, the site of our own GCVI Summit (March 12 to 14 — listen to the episode to get a 10% discount code on tickets). It is a beautiful city with a world-famous aquarium and a gorgeous golf course, but it is a city of extremes: the median household income is $98,000 while at the same time more than 10% of the population lives in poverty.

Tony Boccanfuso has spent the past 17 years trying to work out how to get universities and corporations to collaborate better on research. Boccanfuso is the chief executive of UIDP, a non-profit association between large companies and leading research universities around the world. The invitation-only organisation has more than 200 members.

Beyond the Breakthrough returns 9 February. Here is a trailer with some of our upcoming guests this season.

We revisit the highlights from the past season and find out the key lessons from every guest, from dealing with failure to delivering entrepreneurial training for PhDs to building a cluster that spans more than a dozen institutions.

Today, we're bringing you a recording of a recent discussion organised by our friends at TenU, the international collaboration between ten tech transfer offices in Belgium, the US and the UK. The panel, led by KU Leuven's Paul Van Dun (listen to our interview with him in episode 31), tackled the question: how do you build critical mass to create innovation ecosystems? Offering their expertise were University of Michigan's Kelly Sexton (hear more from her in episode 13), Ouest Valorisation's Vincent Lamande, Innovate UK's Geeta Nathan and Northern Gritstone's Marion Bernard (and you can learn more about that firm in our interview with her colleague Duncan Johnson).

We're bringing you an episode from Mawsonia's other podcast, CVC Unplugged, featuring an interview with Owen Thompson, CEO of Cambridge Future Tech.

SETsquared has achieved something few have: it's built an ecosystem that spans six institutions across England and Wales and a programme that provides end-to-end support to founders both within and without the universities. Banding together means the six universities don't just rival their peers in London, Oxford or Cambridge (portfolio companies have raised some £4bn to date), but in some areas are setting the pace: Bristol, for example, is responsible for a third of all quantum computing companies in the UK.

Prof Susie Speller is a fellow at St Catherine's College and researcher in the Oxford Centre for Applied Superconductivity at the University of Oxford, where she helps corporates like Siemens Healthineers (which manufactures MRI scanners), fusion energy developer Tokamak Energy and scientific instruments company Oxford Instruments solve challenges around superconductors.

The Australian government wants to get 1,800 more PhD candidates to commercialise their work over the next decade, as part of the A$2.2bn University Research Commercialization Action Plan. But turning PhD students and early-career researchers into entrepreneurs is not a simple task. How do you identify the right people and train them to embrace a more commercial way of thinking?

The NHS, the UK's national health service, is often seen as slow to adopt innovation. But Guy's and St Thomas' NHS Foundation Trust, located in London and linked to King's College London — has actually created a highly sophisticated unit to commercialise innovations developed at their hospitals.

Can British university research help families in South America secure a mortgage? That's what the University of Oxford did with its social venture spinout SOPHIA Oxford, which analyses contributing factors to poverty from the state down to the corporate level and helps companies make better choices for their employees.

University of Galway has long been a leader in medtech, so it makes sense that Fiona Neary, innovation operations manager in the institution's Innovation Office, created the country's first medtech accelerator programme in 2018.

It's time to let you know what we have planned. We're re-launching as Beyond the Breakthrough! Over the past three and a half years, and 100 episodes, one key takeaway has been the fact that the public still doesn't understand how university research gets into the marketplace — and that needs to change.

A global platform for tracking tech transfer data — is creating something like this even possible? That is what Christophe Haunold, head of the University of Luxembourg's Office for Partnership, Knowledge and Technology Transfer (PaKTT), wants to get off the ground. If anyone can create this it would be Christophe, a seasoned builder who founded the tech transfer office at the Institut National Polytechnique de Toulouse, as well as Toulouse Tech Transfer (one of 13 regional tech transfer companies in France) and then the tech transfer office at the University of Luxembourg.

Today's is a slightly different episode of the podcast as we're bringing you a recording of a recent webinar, Treasure hunting for seed pearls at universities and national labs.

University College Dublin has racked up a number of firsts, including creating Ireland's first spinout unicorn, Wayflyer. Tom Flanagan, director of enterprise and commercialisation at the university's innovation office NovaUCD gives us the insider view on how the ecommerce company was born.

Andreea Serban is a doctor specialising in paediatric surgery and an entrepreneur who's founded her own healthtech, KIDoc, and joined another, PhylloPharma, as chief operating officer. She's also a 2022 fellow of the Young Transatlantic Innovation Leaders, a US Department of State programme that invites young entrepreneurs from Europe to the United States, that brought her to the University of Pennsylvania and introduced her to her mentor Michael Poisel, a previous guest on this show.

Bryn Rees is the associate vice chancellor for research and innovation, and managing director of Venture Partners at CU Boulder — one of two tech transfer offices in the University of Colorado system.

Ireland, despite its small size, is home to major global tech and pharma companies, and punches above its weight in terms of spinouts that tackle global challenges from sustainable agriculture to cancer vaccines to AI-driven language monitoring, Trinity College Dublin's Neil Gordon tells us.

Earlier this year, TenU — an international collaboration between 10 tech transfer offices in the US and Europe developing best practices — launched the University Spinout Investment Terms (USIT) Guide. Developed together with law firms and VC firms throughout the UK, the USIT Guide aims to accelerate negotiations between universities and investors and solve some of the common sticking points in these discussions.

Some snippets of upcoming interviews plus an explanation for why we've been on a break which involves a peek behind the scenes of Talking Tech Transfer.

Hello dear listener. You're probably wondering where the latest episode is and so I wanted to give a quick update, as scheduling conflicts — life…

Jacek Kasz is the director of the Center for Technology Transfer (CTT) at Cracow University of Technology, Poland's second oldest TTO. He tells us how…