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The research concluded that the approaches taken to knowledge exchange and the commercialisation of university IP are working reasonably well and steps taken by the various participants have improved outcomes over time. Nevertheless, there are pinch-points which need to be improved and various recommendations are made.
With respect to funding availability and access to pre-seed and seed-stage capital is identified as a key influencing factor and grant funding and tax incentives was generally recognised as helpful.
Sue Staunton, Head of Technology at James Cowper Kreston comments:
“The fact that such extensive research has been undertaken by BEIS recognises the importance of universities in the economic growth of the UK and shows how government policy can help facilitate university IP commercialisation. Since the research concluded the Government has published its response to the Patient Capital Review which proposes the establishment of a new £2.5bn Investment Fund and doubles the annual allowance for people investing in knowledge-intensive companies through the Enterprise Incentive Scheme (EIS) and the annual investment those companies can receive through EIS and Venture Capital Trust (VCT) scheme.”
James Cowper Kreston advises a substantial portfolio of technology clients and fosters strong links with universities and research establishments involved in technology transfer. Its tax team advises regularly on tax incentives available to spin-out companies, such as EIS, share options and R&D tax credits.
For more information please contact us by making an enquiry or you can download our technology spin out guide.
The full report from BEIS can be found here.