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>> Our streamlined business model arising from the review has been designed to address these challenges. This improved innovation management system will allow us to increase the momentum in projects, effectively dealing with many aspects and opportunities in parallel, rather than step-by-step, and by developing useful and meaningful connections and networks which can provide access to suitable people and capital as necessary. We will supplement our existing methods of identifying, managing and marketing inventions with completely new and creative approaches. Furthermore, we will seek to integrate intellectual property possibilities properly, and in a strategic way, into the University's research collaborations and its co-development projects and also to bundle complementary intellectual property together. This is a way of additionally transferring intellectual property with good potential for royalty revenue generation to add to the tactical marketing of discrete inventions, one-by-one, which is the mode UMIP has mostly adopted to-date. We will be paying close attention to a good balance of our portfolio so as to represent projects from across the campus, including multidisciplinary ones, and we will apply equal focus as between licensing and venturing routes to market. Designing our master plan and planning our tactics is essential, yet we know for sure that what really makes things happen and what counts is their timely and fitting execution. So, we concentrate on outcomes but we are mindful that these depend upon the quality of our inputs and the relevance of our process too. How well we carry out our tasks and how good we are to work with is crucial in a special and long-term business vocation like ours. Therefore we intend to build upon and extend our relationship management activities: with University business development colleagues in related areas of work, faculty and school representatives, alumni and stakeholders - to assist us in identifying potential; and with industrialists, entrepreneurs, angels and venture capitalists - to be more actively informed at an earlier stage in our process about market-place views of our emerging inventions, licensing propositions and ventures. So, in future we will provide even better information, advice and guidance and business management services to our academic colleagues and facilitate increased access to our intellectual property by the business and investing communities and generally try to improve continuously in all areas of our business. UMIP has experienced a very successful first six years of existence. There have been notable successes in selling shares, receiving royalties and winning translational grants. However, not everything in our life can be reckoned in financial terms, nor should be. Over a quarter of the University's academic staff has been assisted, hundreds of jobs have been created, favourable news cover has been generated, regular citations for professional good practice recorded and many prizes awarded. Indeed the esteem attained from the successful transfer of technology is what matters most to the University about this activity. This sustained performance is down to the hard work, skill and commitment of my colleagues, past and present, the constructive engagement by academic and related staff with us, the positive encouragement of the University's leadership team and the active support of the national and the regional agencies and bodies who are interested in this type of endeavour. Thank you all for this support. that is commendable about university technology transfer. We will continue to build reputation and make a very positive impact and impression on the University's behalf and do our utmost to enable it to realise its full commercialisation potential. Although our goals are stretching we believe that they are realistic. So, with the confidence of a fine track-record to-date, the University's considerable and impressive research power and the inventive genius of its academic staff, we are well placed to achieve our 2015 ambition. At the same time we will create new assets and capabilities for the path and period beyond - 2015 is not the final destination but it is a significant waypost. The following pages lay out UMIP's approach, structure and its three principal goals and its three key enabling goals. They also describe our strategies and tactics for reaching them and explain how we will measure our progress. The more detailed numbers, statistics and delivery plans are spelled out in our internal board and operational plans which, by necessity, are private and anyway are subject to dynamic change in response to market conditions and how well we are doing. However our overall Balanced Scorecard of cumulative quantitative and qualitative achievements is produced as a "value and benefit" brochure which is published on our website every autumn. Mr Clive Rowland Co-founder and CEO We know that we are very fortunate to work in such an exciting and enterprising field and we wish to be emblematic of all 9

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