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Start Up Creation and Entrepreneurship in Oxford
Elena Andonova
Isis Enterprise
May 2016
© Copyright 2015 Isis Innovation Ltd.
Oxford University
• Oxford University is the oldest university in the English-speaking world (founded c.1188)
• A leader in learning, teaching and research
• 26 British Prime Ministers educated at Oxford
• Including current Prime Minister David Cameron
• Royal Society founded from Oxford in 1640
• 51 Nobel prize winners
© Copyright 2015 Isis Innovation Ltd.
Isis Innovation Ltd
Oxford Technology Transfer IP, Patents, Licences, Spin-outs, Material Sales, Outcome Questionnaires, Seed Funds, Isis Angels Network, Isis Software Incubator, Oxford University Hospitals NHS Foundation Trust
Oxford Expertise Consulting, Services
A successful company 100% owned by the University of Oxford
Isis Consulting Business Technology Transfer and Innovation Management
@isisinnovation
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Isis Annual Report 2015
Isis Innovation 97 staff
75% Graduates 49% Science doctorates
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The Impact
“The impact of Isis activities to commercialise
technologies and expertise from Oxford University is
seen through the creation of new products and
services.”
“Commercialisation activity undertaken by Isis
Innovation contributed more than £0.4 billion GVA1 to
the global economy in 2012/13 and supported almost
5,000 jobs. “
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Components of the E&I Ecosystem
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How to foster Entrepreneurship & Innovation (E&I)?
Components of an
Ecosystem for Entrepreneurship The existence or non-existence of these seven components may impact the ability of a company to grow in a sustained way for the next 3-5 years.
© World Economic Forum 2012
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Oxford incubators & science parks
Isis Software Incubator
Oxford Centre for Innovation
Begbroke Science Park
Oxford Science Park
Oxford Entrepreneurs
Incubator
Oxford Low Carbon Hub
Oxford Hub
Milton Park
Oxford BioEscalator
Harwell – European Space Agency's
Business Incubation Centre
Science Vale Enterprise Zone
Source: Google Maps
Facilities
Oxford Launchpad
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BioEscalator
• £11m funding from City Deal + University contribution
• Hub for the commercialisation of bioscience and medical research and innovation in Oxford
• Meeting point for entrepreneurial researchers, clinicians, medical entrepreneurs and a wide range of bioscience companies
• Managed by KEIT and Medical Sciences Division
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An Integrated Approach to Entrepreneurship Support
Curriculum
Start Up
Support
Networks
Integrate in academic programmes
Run courses
Curriculum based Entrepreneurial projects
Internships
Conferences
Networks
Join Pogrammes
Pitch Competitions
Workshops and lecture series
(incl sector specific)
Mentorship programmes
Ad hoc advice
Lean management, utilising
existing bricolage and cross campus
activities
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Creating Start Ups in Oxford
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The Technology Transfer Value Chain
protect
identify
market
translate license/ spin-out
post deal
• Internal marketing
• Ownership • evaluation
• Strategy • Patents • Patent
budget
• Proof of Concept • Design • Development • Funding
• PESTLE • Customer • promotion
• Valuation • Negotiation • Legalise • Fund raising
• Auditing • Shareholders
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Transfer of Intellectual Property
Government
Charities
Industry
Assignment of intellectual property rights
Research funding source
Inside the University Outside the University
Research Services Includes: IP Rights Management Team
80 Staff 85% Graduates
33% Post grad degrees
Isis Innovation 92 staff
75% Graduates 49% Science doctorates
Spin-outs
Licences
Consulting
Route to market
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Investment, Donations and Funds
Oxford University Challenge Seed Fund (UCSF) •Launched 1999 with £4m (£1m OU)
•Over £7.5m invested in 143 projects
•One of the few UCSF funds still running in its original form
Oxford Invention Fund (OIF) •Donate to support development of new technologies from Oxford
•Part of Oxford Thinking, the University’s fund raising Campaign
•£1.5m raised to date
University of Oxford Isis Fund (UOIF) •EIS/SEIS funds for investors managed by Parkwalk Advisors
• Isis Innovation is Portfolio Advisor
•1st fund £1.25m fully committed, 2nd closed
Isis Angels Network (IAN) •For Business Angels and early-stage VCs
•216 registered members
•No membership fee
•Twice-yearly meetings, newsletters
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£320m Spin-Out Investment Fund
• Oxford Sciences Innovation formed to invest in spin-outs from Oxford (MPLS & Medical Sciences Divisions), Harwell & Culham laboratories
• Investing in new and existing spin-out companies, working inclusively with other investors
• Investors : Invesco, IP Group, Lansdowne Partners, Oxford University Endowment Fund, the Wellcome Trust, Woodford Investment Management, Google Ventures and Sir Charles Dunstone
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Isis Start-up Incubator (established in 2010)
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Onfido
• 3 recently graduated undergrads
• Joined Isis Startup Incubator Dec 2013
• Limited understanding of Intellectual Property
• No funding
• But they had a great business idea
• and the passion to follow it through…
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First commercial
engagement – a trademark
law suite…
First office (after incubator):
a Shoreditch
basement…
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Growing the business
2014
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Growing the business
http://techcrunch.com/2015/02/17/onfido/
February 2015
http://uk.businessinsider.com/onfido-hires-googles-ed-ungar-to-lead-expansion-
2015-9
September
2015
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Scaling up
http://techcrunch.com/2016/04/14/uks-onfido-raises-25m-as-it-brings-its-background-checking-platform-to-
the-us/
April 2016
http://www.cnbc.com/2016/04/14/onfido-a-background-check-startup-for-uberized-world-raises-25-
million.html
© Copyright 2015 Isis Innovation Ltd.
A Global Innovation Management Consultancy
Providing expertise and advice since 2004
Policy and benchmarking studies
Innovation Management
Technology Commercialisation
Translational Funding Impact Reviews
Commercialisation Training
Innovation Ecosystem Development
Technology & Market Due Diligence Technology Scouting
Elena Andonova, MBA Isis Enterprise M: +44 (0)7538 670 573 E: [email protected]