Sources of funding
Funding for technology development
The University of Oxford
The University of Oxford maintains three funds to assist university researchers in transforming good research into good business. They allow university research to develop to the point where it can demonstrate commercial usefulness and secure further investment. The primary focus is the exploitation of science and engineering research outcomes. The university鈥檚 technology and research commercialisation company, Oxford University Innovation, manages the funds.
The University Challenge Seed Fund (UCSF) helps the commercialisation process. It provides funding for activities such as access to managerial skills, securing or enhancing intellectual property, supporting additional R&D, funding construction of prototypes, widening proven applications, preparing business plan covering legal costs and covering costs of external expertise. Oxford鈥檚 UCSF has invested in over 150 projects, with sums ranging from 拢2,500 to 拢250,000. It holds shares in 31 spin-outs which have attracted over 拢110m in total seed and venture capital investment.
The Oxford Invention Fund (OIF) supports maturing projects. It moves them to licensing or spin-out stage by investing in vital experimental data generation, prototyping or other proof-of-concept work. The OIF is supported by private donors wishing to see a return to the University from successful new business ventures. The OIF has raised 拢1.4 million since 2010.
The University of Oxford Isis Funds (UOIF) provide private investors with an opportunity to invest, as part of a blind fund, in early stage technology companies. It also supplies finance to ensure that companies have adequate resources for the initial stages of commercial product development.
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Using higher education innovation funding
The Sheffield Science Gateway
Established in 2011, the Sheffield Science Gateway (SSG) is a project that allows industry to collaborate with the faculty of science at the University of Sheffield. The scheme is supported by Higher Education Innovation Funding (HEIF), and received a total of 拢1.2M between 2011/12 and 2014/15.
The SSG has a team of trained scientists with business experience in a range of markets. They offer access to extensive industrial and academic networks to help solve science-based problems. They also provide access to funding, specialist facilities and assistance with intellectual property.
The SSG collaborates with multinationals, SMEs, professional bodies, and the third sector and government agencies, regionally, nationally and globally. These collaborations can take many forms, including long and short-term projects, knowledge transfer partnerships, sponsored research and consultancy. People transfer is also available, through secondments, sabbaticals and student placements.
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