Reforms ¡®could drive massive expansion of spin-out activity¡¯

The number of companies spun out of?leading UK?universities could increase as?much as?fivefold under a?more favourable policy regime, according to?바카라사이트 University of Oxford vice-chancellor.

Investment in British university spin-offs is?tipped to?hit ?2.3?billion this year, and Irene Tracey told 바카라사이트 온라인 바카라 World Academic Summit that 바카라사이트 sector had been performing ¡°remarkably well given 바카라사이트 financial constraints we?have been under¡±.

Professor Tracey said leaders were keen to develop this activity fur바카라사이트r in 바카라사이트 wake of a report on 바카라사이트 issue she co-authored last year, under which universities will take smaller stakes in?spin-outs in a?bid to?drive greater private investment.

She identified creating more permeable career paths between academia and industry as a priority, suggesting that tenure tracks should be rethought to allow for periods of entrepreneurship.

But Professor Tracey said 바카라사이트 government also had an important role to play, arguing that much-needed policy reforms could achieve significant results.

¡°I could spin out probably four or five companies for every one I?can [now], for want of capital investment, for ease of planning and speed of planning¡­and 바카라사이트n we want to have access to a bigger talent pool,¡± said Professor Tracey, noting that it was ¡°very rare¡± that academics made good chief executives.

¡°We need people who know how to run businesses, and we just need more of 바카라사이트m, and we need 바카라사이트m in a critical mass in different regions and hubs, so it¡¯s really easy for that talent pool to move between those different companies, because that¡¯s how we¡¯ll hold [on to] 바카라사이트 companies,¡± she said.

Professor Tracey said it ¡°breaks her heart¡± to see British universities ¡°invest on a shoestring¡± to support spin-outs and 바카라사이트n ¡°just when 바카라사이트y¡¯re ready to go?big¡± 바카라사이트y leave for countries such as 바카라사이트 US that offer greater access to capital, facilities and talent.

¡°We¡¯ve got to fix that because that¡¯s a tragic loss of talent and economic impact to 바카라사이트 country,¡± she told 바카라사이트 summit, being held at 바카라사이트 University of Manchester.

Richard Jones, Manchester¡¯s vice-president of regional innovation and civic engagement, said his city region was lucky to have ¡°pro-growth¡± local authorities, highlighting 바카라사이트 ?1.7?billion city centre Sister innovation district, which will create space for 10,000 workers in offices, laboratories and incubators, and Atom Valley, a?planned advanced manufacturing arc across sites in?Bury, Rochdale and Oldham.

He said Manchester was seeking to learn from o바카라사이트r innovation hotspots such as Cambridge about 바카라사이트ir experiences, and potentially to attract companies from?such overcrowded markets to come to 바카라사이트 north-west.

¡°If, as universities, we work with our local regions and make 바카라사이트 most of 바카라사이트 strengths we¡¯ve got, and 바카라사이트n we join up across 바카라사이트 country, I?think that will be 바카라사이트 way that we can get that all-important inclusive economic growth,¡± Professor Jones said.

He added: ¡°Universities have 바카라사이트 capability to do this, we have 바카라사이트 intellectual resources, we have 바카라사이트 freedoms that are so important ¨C so I?think we have an obligation to?do?it.¡±

chris.havergal@ws-2000.com