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- Why do universities need additional industry connections?
"Strategies which deliver a faster, more flexible interface with business and more co-operation between actors in the innovation system seem likely to return the greatest dividends to the UK economy." Extract from the Wellings Report: IP and Research Benefits (Sept 2008)
The connections we expect to make under the IPSO Entrepreneurs programme are anticipated to be different from but complimentary to the existing industry relationships and will be driven from a demand perspective.
- Industry connections already sponsor some university research projects. Is this an issue?
No this is not an issue as the IPSO Entrepreneurs Initiative does not threaten any existing contracts between industry and the university. We do however expect that the Initiative will result in the creation of a number of new collaborations from new and existing sponsors made aware of the university's appetite for translational research. This will be a valuable by-product of this Initiative.
- Why should a university do this?
This is not intended to create commercially focussed research. However it should:
1> increase opportunities for commercialisation of existing and future research improving the exploitation of that research for the benefit of the wider community.
2> bring current knowledge of industry demand in to the university without having to employ experts directly, and gaining input from some of the top exponents in their individual fields.
3> demonstrate to Government that action is being taken to create value from research where possible.
- Who selects the Entrepreneurs and how?
IPSO Ventures, though its association with international team builder BSG Team Ventures, seeks out the entrepreneurs but this follows consultation with the university about the areas of particular interest to that university. It is IPSO's task to find suitable entrepreneurs but the university gets to select which of these individuals are given privileged access.
- Can the university get funding from elsewhere for this Initiative?
Possibly. We have investigated a number of potential sources including government funding and research council funding. The potential contribution from this Initiative justifies government support and has been show to fit well with EPSRC and BBSRC initiatives.
- What if the university doesn't get on with one of the Entrepreneurs?
The university will withdraw access to university-owned technology if the university is uncomfortable with the contribution from a particular individual.
- How does the university keep in touch with who is talking to whom and when?
This is another of IPSO's tasks, but it is anticipated that this will be done in close liaison with the technology transfer staff. IPSO will maintain an on-line diary of all visits and meetings and the technology transfer staff will be informed before the meetings take place. There will no doubt be some admin burden for the Entrepreneurs however IPSO's team will ensure that this is minimised.
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