Cambridge Enterprise, the world-leading technology transfer arm of the University of Cambridge, has announced income figures in excess of £10 million for the first time.
Cambridge Enterprise reveals £10m milestone in Annual Review
Responsible for the commercialisation of University intellectual property, Cambridge Enterprise's figures for 2007/08 figures show income of £8.8 million from licensing, consultancy and royalties and an additional £1.7 million received from equity realisations in five companies.
Chief Executive Teri Willey said: "It has been a record breaking year, both in the number of deals completed and in terms of income. Importantly, over £8 million is allocated to departments and academics whose expertise and ideas are the basis of successful commercial programmes".
One of the companies in the portfolio to reach a milestone during 2007/08 is CamSemi, a spin-out from the Department of Engineering. It is now the emerging leader in the development of energy-efficient power circuits which are faster, simpler and produced at a lower cost. The company recently celebrated the shipment of ten million chips from its first product line.
The University of Cambridge leads the world in transformative research. Cambridge Enterprise is on hand to support academics searching for the best commercialisation route for their innovations either through licensing or company creation.
During the financial year 80 IP transactions were added to the portfolio, bringing the total number of active intellectual property and licence agreements under management to 459. Eighty three patent applications were filed.
The number of new consultancy projects undertaken has increased by approximately 25% on the previous year, with academics engaging with organisations around the world.
During 2007/08 Cambridge Enterprise held equity in 68 companies on behalf of the University and received £1.7 million from equity realisations in five companies, comprising £841k from seed fund investments and a further £809k from Intellectual Property investments through licensing transactions.
Over 80% of income was returned to University academics and departments and a further 7% reinvested in patent assets and 8% reinvested in seed funds.
Added Willey: "Technology transfer is a long-term effort where decisions taken this year represent potential products and revenue streams 5- 15 years from now. To achieve this, our team balances the need to build for the future while managing the current assets.
"As we move through 2009 and the uncertain economic climate, we are in a strong position to continue working with top academic scientists to transform their ideas to attract the right commercial partners, which in turn will benefit society and the economy. "
Cambridge Enterprise Limited, University of Cambridge
Cambridge Enterprise Limited is a wholly owned subsidiary of the University of Cambridge, responsible for the commercialisation of University intellectual property. Activities include management and licensing of intellectual property and patents, proof of concept funding and support for University staff and research groups wishing to provide expert advice or facilities to public and private sector organisations. Cambridge Enterprise provides access to angel and early stage capital through the Cambridge Enterprise Seed Funds and Cambridge Enterprise Venture Partners, and offers business planning, mentoring, specialist Surgeries and other related programmes.
The University leads the world in transformative research and Cambridge Enterprise is well placed to support the academics to find the best commercialisation route for their innovations either through licensing or company creation. In 2007/08 income from licensing, consultancy and equity transactions exceeded £10 million, of which £8 million represents distributions to University departments and academics.
For further information please contact: Shirley Jamieson, Head of Marketing, Cambridge Enterprise Limited firstname.lastname@example.org
For more information, contact:
Stuart Roberts, Communications Office, University of Cambridge, Email: email@example.com
Reproduced courtesy University of Cambridge Office of Communications
Cambridge Enterprise exists to help University of Cambridge inventors, innovators and entrepreneurs make their ideas and concepts more commercially successful for the benefit of society, the UK economy, the inventors and the University.