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It is widely recognised that innovation and entrepreneurship need to be stimulated in order to maintain and promote economic growth. The University therefore actively seeks to protect its IP and to commercialise the results of research where appropriate. The University also has an obligation to consider protecting IP where the research is funded by a Research Council or charitable institution. Much industrially sponsored contract research is funded specifically to generate valuable IP. Revenue earned through commercialising our IP is likely to benefit your School and the University in addition to yourself. The rewards both reputational and financial can be attractive, but the process requires careful management, often over a long period. Although it is impossible to guarantee that your idea can be protected or will be commercialised, we have a proven track record of success. Building on over 20 years of technology transfer activity we have helped: > Raise £100Ms for spin-out companies > Create hundreds of jobs > Conclude over 45 annual licences with UK and international companies > Sell shares and collect royalties regularly You can find examples on the UMIP website. The Commercialisation Process UMIP brings to you a blend of entrepreneurial expertise, in-depth knowledge of University IP, project management skills and, critically, an understanding of the needs of and demands upon University IP originators. UMIP will work with you to design a business model for the IP and generate the development, operational and marketing plans for its commercialisation route. Using our in-house teams as well as our extensive networks of external professional service providers, venture capital sources, dynamic commercial managers and marketing agents and business contacts we tailor-make an approach that is appropriate and successful for your licence or spin-out projects. This way we can marshall large and relevant resources to help you increase the likelihood of success and the speed with which it can be achieved. UMIP employs a rigorous innovation selection process which assesses your idea for commercial potential and the type and potential strength of its IP protection. Stage-gate management within this process will indicate whether the IP is best licensed or whether a spin-out company would be the most appropriate vehicle for commercialisation. This ensures effective use of time and resources too. Sometimes the IP can be sold outright as a once-only sale. Why commercialise? 16