Partnership to boost science and technology businesses
19 Jun 2015 by Evoluted New Media
A partnership between the University of Oxford and Oxford Sciences Innovation plc (OSI) has been launched to develop world-leading scientific research.This partnership will aim to boost the development of world-class science and technology businesses by creating more spinout companies and enterprises. Together, the University of Oxford, Isis Innovation – University of Oxford’s research and technology commercialisation company – and OSI will collaborate to commercialise academics’ ideas into market-leading companies.
The Vice-Chancellor of the University of Oxford, Professor Andrew Hamilton, said: “Oxford University is a long-established engine of global economic growth. Spinouts based on our research have an impressive track record of generating innovative breakthroughs and new employment regionally, nationally and international.”
OSI is planning to raise £300 million to fund spinout companies with £210 million already committed by six investors.
David Norwood from the IP Group plc said: “The University of Oxford has been the birthplace of some of the best science in the world and some of the biggest ideas in history. The agreement with OSI and the strength of the cornerstone investors create a fantastic opportunity to turn world-leading science into market-leading companies and the opportunity to create significant value for all stakeholders.”
The university is already discussing first investments with OSI, who are working with the investor community, recognising the importance of all those involved in supporting the Oxford innovation.
