Issue link: https://htpgraphics.uberflip.com/i/538681
UMIC ® UMIP ® UMI 3 INVESTORS IN PEOPLE ACCREDITATION RETAINED IiP specialises in transforming business performance through people by helping companies achieve the results they want by focusing all their work on companies' business objectives, and acting as a critical friend in order to maintain continuous improvement. Joanne Hamilton, IiP assessor, commented: "Through its forerunners, UMI³ has been accredited with the Investors in People Standard since 2002. The organisation has always valued the external and objective feedback that the assessment process provides around the organisation's people practices and workplace culture and their impact on organisational performance. The organisation continues to use the process as a means of continuous improvement." We were evaluated against our business objectives of being a world-class university technology transfer organisation by achieving a balance between sustainable growth in reputational and financial terms. Claire McKenzie, UMI³ Compliance and HR Manager, commented: "I am delighted that all our hard work in supporting and developing our staff to maintain high performance as a company has been recognised through continued IiP accreditation. Everyone has put a real effort into working on continuous improvement and this has really paid off in terms of our ever growing reputation and in our business performance. IiP accreditation is recognised worldwide as a mark of excellence so this really is an achievement to be proud of." We are pleased to announce that we, incorporating UMIC and UMIP, have retained our Investors in People (IiP) accreditation following assessment at the beginning of this year. This most recent recognition builds on the IiP status of both UMIC and UMIP prior to creation of UMIᶟ in August 2011. 3 Paper 2: Golden Shares & Anti-dilution Provisions in University Spin-outs Tony Hickson, Managing Director of Technology Transfer at Imperial Innovations and Tom Hockaday, CEO of ISIS Innovation, co-authored this paper on the 'Golden Share'. They discuss renewed interest in universities holding 'golden shares' in their spin-outs, and reiterate concerns that, in practice, no special provisions would survive further rounds of investment. From time to time the idea of introducing anti-dilution provisions into university spin-out company shareholder agreements re- emerges for discussion. When the idea that universities could have special 'golden' shares in spin-outs from their universities was first proposed many years ago, the practicalities were challenged by some seasoned investors, as no special provisions would survive further rounds of investment. However, the idea has recently been revived by some influential UK based investors and other commentators as being a potential solution to solve problems that they see are holding back the formation of technology companies in the UK namely: > that UK universities take too much equity in spin-outs and more equity should be retained by founding entrepreneurs to incentivise them to carry out this type of activity > that negotiations between universities, founders and investors around equity and IP (which are often linked) take too long and this may be limiting the numbers of start-ups being created As one experienced investor and advocate for this model explains: "The real idea is to maximise the number of spinouts formed and not maximise what the universities get for the IP. My argument is they will make more money since there will be so many more companies formed." As such, it is worth exploring the idea and issues raised. For the full article, please click here. Claire McKenzie, UMI³ Compliance and HR Manager