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applications and she has gone on to win academic awards and other forms of recognition. Marie and Pierre Curie decided not to patent for radium's isolation and the scale-up production process to make it. They made their findings and preparations available to everyone in order not to hinder rapid scientific progress in the field nor hold back its chances of being developed widely, for medical applications in particular. decision in that case. The microscope has already been used to make discoveries said to be worth £250M. It has enabled her to continue developing new particles and processes of use in healthcare and industrial So we have to keep a perspective about patents in a research institute and especially in our university context. We have to take a more rounded judgement than at first some might think. As well as thinking about the market, we must be informed by the academic originator as a key interested party, the University's mission and its stakeholders, and any funding sources too. We need to use precious patenting cash wisely to maximise our impact. Putting too much stock in patent league tables runs the risk of us asking the wrong questions of ourselves and setting the wrong targets, which would divert attention from our reason for doing what we do. We seek patents not to take us to the top of the numbers table but to use them efficiently and effectively in making a contribution to British society and its economy through direct transfer of technology to British organisations or by inward investment through international activities. INVESTMENT BANK CHIEF EXECUTIVE APPOINTED AS CHAIR TO THE PANEL OF THE UNIVERSITY AND IP GROUP'S SPIN-OUT FUND the recently launched £5M Proof-of-Principle (PoP) Fund. The Fund has been set up to provide capital to new Proofof-Principle projects intended for commercialisation through research at the University. The University, through UMI3 Ltd, and IP Group plc has appointed Altium Capital Chief Executive, Phil Adams, as Chairman to the panel of Phil Adams, who has been in investment banking for more than 16 years including nearly three years in his current role as Group CEO of Altium Capital, brings a wealth of experience from advising on over fifty transactions including IPOs, hostile and recommended takeovers, placings plus general mergers and acquisitions. He also advises a wide range of companies and is experienced across sectors including leisure, support services, financial services and building materials. Phil comments: "I am really excited to be involved in this partnership between the University and IP Group. I think it is really important for the UK in general, and regional economies in particular, that the superb scientific and technical knowledge and knowhow in our universities is stimulated to enable new companies to be formed and ultimately spin out successfully." Clive Rowland, UMI3 CEO, comments: "The Proof-ofPrinciple stage is a critical one for us in the university technology transfer business. It is the bridge between the ideas and inventions that we identify at the University and having something that has been reduced to practice, with strong patents 'around them', to be able to demonstrate to industry and investors. Phil's understanding of what makes a high quality proposition and his interest in building businesses is very welcome expertise to add to our approach. His strong connections with Manchester and London and his international contacts are ideal for our investor networking and for ensuring that we continue to stretch our ambitions and horizons." 5