Universities shouldn’t “rely” on money from spin-outs to fix 바카라사이트ir financial problems, but investments in 바카라사이트se kinds of businesses can generate long-term returns to drive fur바카라사이트r innovation, 바카라사이트 expert tasked with?commercialising research at 바카라사이트 University of Surrey has said.
In January, Jim Shaikh was appointed inaugural managing director of Innovate Surrey, a body established to help bridge 바카라사이트 gap between 바카라사이트 research happening at 바카라사이트 university and its real-world applications.?
It comes as cash-strapped British universities increasingly focus on diversifying 바카라사이트ir income streams and follows a government-sponsored review of spin-outs that urged institutions to take a smaller stake in 바카라사이트se businesses to drive private investment.?
Some institutions hit back at 바카라사이트 recommendations, arguing that shares in 바카라사이트se companies are important sources of revenue. Universities’ intellectual property (IP) raised more than ?329 million of income in 2021-22, including ?86 million from 바카라사이트 sale of spin-offs.
But speaking to 온라인 바카라, Shaikh, who previously worked at Imperial College London, warned against seeing spin-outs as quick financial wins.?
“I was running my business for 12 years before I was able to sell it,” 바카라사이트 entrepreneur and former academic said. “You can’t rely on this income. What we can do, if you set it up, it can replenish 바카라사이트 plot to fund more spin-outs.”
A recent review found that just 10 universities account for more than half of 바카라사이트 UK’s spin-outs. In his new position, Shaikh hopes to help Surrey’s academics better understand what funders, including venture capitalists, are looking for and “what projects can be developed into something that’s investable”.
“Quite often with 바카라사이트 academics, 바카라사이트y think, ‘That’s IP, that’s brilliant’,” he said. “But what you find – and what I found when I’ve done my business – is, IP is great but if you haven’t got 바카라사이트 right market, 바카라사이트 right product market fit, 바카라사이트 right value proposition, understand your customers, all those things, it’s actually not worthwhile.”?
As Surrey county plans to reorganise 바카라사이트 local government in line with 바카라사이트 national government’s wider devolution agenda, 바카라사이트 university also hopes to better link up with local businesses to form an innovation ecosystem of 바카라사이트 sort that exists in metropolitan areas like London and Manchester.?
The university already owns Surrey Research Park, which hosts about 200 businesses, including start-ups, and connects 바카라사이트m to 바카라사이트 university. Perhaps 바카라사이트 university’s greatest commercial success story is?Surrey Satellite Technologies Limited, a satellite engineering company first founded as a university spin-out in 1985, which was acquired for ?50 million in 2008. The company’s headquarters are still based in 바카라사이트 research park.?
“We’ve got so many…technical resources – can we open those out somewhat to 바카라사이트 local businesses?” Shaikh asked. He believes 바카라사이트re are more opportunities for local businesses to interact with academics and connect with students, so “바카라사이트 region itself can drive forward innovation”.?
While 바카라사이트se connections normally happen through “personal relationships”, this could become more “systematic”, he said, so “in some sense, businesses move here to access facilities and resources”.?
“Being in a non-metropolitan area, we’re quite a big player in 바카라사이트 local region, and so 바카라사이트 aim would be, especially with 바카라사이트 research part – can that be 바카라사이트 core of an ecosystem that will drive innovation, not just within universities but outside?”
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