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£5.8 Million to Create More University Spin-Out Companies

Warwick Ventures is the technology transfer department of the University, which is expert on identifying valuable inventions arising from research, and commercialising them by patenting, licensing and the creation of spin-off companies. Together with its equivalent at Birmingham University, Birmingham Research and Development, it has recently been awarded almost £6 million, which will be spent within the eight universities of the West Midlands* to triple the rate at which companies spin-off from 10 to 30 a year.

The funds have come from the regional development agency, Advantage West Midlands, and from the Higher Education Funding Council’s HEIF initiative. They were impressed by the past successes, detailed plans and ambitious targets which Warwick Ventures described. Ederyn Williams, Director of Warwick Ventures, said "We are establishing an excellent track record, with ten spin-offs from Warwick in just the last two years. The latest winner of the prestigious Lord Stafford Award for Innovation, Dig-ePrint Ltd, is one such example. Started by Dr Duncan Billson of the School of Engineering, it is using his inventions to build low-cost developing facilities for digital photography. There are plenty more good ideas hiding inside the universities, and now we have the financial resources, I am sure that we can help create many more exciting spin-off companies".

For more, contact Warwick Ventures on 02476 323 313 or ventures@warwick.ac.uk