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Our ambitions // our targets // our achievements INTRODUCTION This is a special year for us, being ten years since we started operating, so it's a notable milestone. Overall, we have continued to find a good balance between ensuring that software and inventions are translated from the University into benefit to society and in managing our finances such that we always make a modest profit or break-even on budget, which are our twin main goals. We have seen outstanding highlights over the years, with record numbers of licences concluded and translational and IP grants and awards exceeding earlier years' performance and significant contributions to the University's IMPACT agendum – all, of course, based upon the amazing insights and inventions that our academic colleagues bring to our attention. All of our Key Performance Indicator measures are close to plan since our establishment, so we continue to perform at the right level in order to meet our July 2015 mission, goals and targets that were set for us in 2004. We are working hard in a way that ensures that the business is well set-up for the future and in particular are writing our strategy for the next ten years. At Manchester, we are committed to providing the best possible technology transfer and innovation based businesses to help ensure that the relevant outcomes of the University's research make the most positive impact upon our society. We do this by creating spin-out companies and licensing products in close collaboration with our academic inventors, industry, investors and Government. The University has pioneered many technology transfer initiatives and received numerous recognition awards for its work over the years. Of course, good company performance relies upon its people for success and I thank every colleague - the academic members for providing the good ideas and UMI 3 staff for assisting in the innovation process - for the continued effort and commitment demonstrated to the University's intellectual property activities. Dr. Krishnamurthy Rajagopal, UMI 3 Chairman Mr Clive Rowland, UMI 3 CEO

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