5
PROOF-OF-PRINCIPLE
UMIP's Proof-of-Principle (PoP) programme can provide the funds needed
to take a novel idea to a demonstrable stage - validating its commercial
potential - in order to attract potential investors or licensees. UMIP assists
with arranging such funding. The amount of money required for PoP varies
and is typically invested over a twelve month period.
FIND A LICENSEE
FORM A SPIN-OUT
If the IP will best be commercialised
by one or more existing companies,
UMIP will seek potential licensees
and work to identify mutual
interests, goals and plans to
commercialise the IP fully.
If creation of a new business has
been chosen as the optimal
commercialisation vehicle, UMIP
will work to assist the founders in
planning, creating and seeking
funding for the spin-out and
project manage the early stages.
6
CONTRACTUAL
UMIP manages documents such as
licence agreements/shareholder agreements etc
7
REVENUE
Revenues received by UMIP from licensees such as
up-front payments and royalties are distributed to
IP creators and to the University/IP creators' faculties.
Shareholdings and the sale of shares from spin-out
companies can benefit the IP creator and the University.
19
