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IP Group Plc Signs Flagship Intellectual Property Commercialisation Agreement With The University Of Manchester

Tuesday, 26 Feb 2013 02:00am EST 

IP Group Plc announced that it has signed a commercialisation agreement with The University of Manchester (the University) which will be operated by its technology transfer company, UMI3 Limited (UMI3). Under the terms of the agreement, IP Group will create a Proof of Principle (PoP) funding facility for the identification and formation of new spin-out companies. The Group has agreed to make available an initial facility of up to £5 million to provide capital to new proof of principle projects intended for commercialisation through spin-out companies. In return, IP Group will receive equity stakes in such spin-out companies on pre-agreed terms. IP Group has the right to invest further in these companies as they progress. In addition, IP Group will provide access to its relevant experts, business building, mentoring, coaching and co-investing networks, recruitment and business support. The agreement, which is a for a minimum term of four years, or five years. 

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20 Aug 2014