Cambridge Enterprise, the University of Cambridge's knowledge and technology transfer service, has become a Limited Company. The new company, wholly owned by the University, is headed by Teri Willey as Chief Executive.
Cambridge Enterprise now Limited Company
The business plan for the new company calls for a market driven approach addressing internal (University academics) and external (parties interested in partnering to commercialise intellectual property) markets as well as an asset management approach to the growing portfolios of commercialisation contracts and equity holdings.
Cambridge Enterprise Ltd's board is composed of three University Directors (Professor Sir Richard Friend, Professor Christopher Abell and the Pro-Vice-Chancellor for Research, Professor Ian Leslie), three external Directors (Lord Roger Freeman as Chair, Dr. Nicola Nichols and one more individual to be named), Teri Willey as Chief Executive, and Dr. Richard Jennings as a nominee from Cambridge Enterprise. The Director of Finance of the University will be an observer on the board.
Teri Willey, said, 'In the fiscal year 2005/2006, Cambridge Enterprise generated 6.2 million from the exploitation of IP and consultancy and distributed in excess of 5.2 million to academics and University departments. We will strive to increase support to departments and individual inventors going forward. We also recognise the need to increase efficiency and adapt speedily to new requirements, and our new structure will facilitate this.'
Professor Ian Leslie, Pro-Vice-Chancellor for Research, said, 'Incorporation should be seen as a route to provide greater transparency and efficiency of both operational and decision-making processes of Cambridge Enterprise. The primary aim remains to aid application of knowledge to benefit society, academics and the institution.'
Cambridge Enterprise Ltd will continue to focus on serving academics and their departments in technology commercialisation and consulting to industry. The services provided by Cambridge Enterprise include intellectual property management, bespoke marketing, technology licences and consultancy contracts negotiation. Additionally, it assists in company creation through start-up clinics, one-to-one mentoring, and access to investors, experienced management and seed capital.
Any profits generated in Cambridge Enterprise Ltd after distribution of revenue shares to academics and departments will be gift-aided to the University.
In 05/06 Cambridge Enterprise:
For further information, please contact the University of Cambridge Office of Communications on 01223 332300
Reproduced courtesy University of Cambridge Press Office
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.