Uddannelses- og Forskningsudvalget 2015-16
UFU Alm.del Bilag 116
Offentligt
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Danish Parliamentary Visit
26 January 2016
Dr Tony Raven, Chief Executive,
Cambridge Enterprise Limited, University of Cambridge
 UFU, Alm.del - 2015-16 - Bilag 116: Præsentationsmaterialer fra England
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The University’s Mission
The mission of the University of Cambridge
is
to contribute to society
through the pursuit of
education, learning, and research at the
highest international levels of excellence.
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Cambridge Enterprise’s Mission
The objectives of CE Limited are, in order of precedence,
to
•
aid the transfer of knowledge from the University via
commercialisation;
•
aid staff and students in making their ideas more
commercially successful; and
•
produce a financial return for inventors, departments
and the University.
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Innovation is in the University’s DNA
Cambridge University
Press: 1534
Cambridge
Instruments: 1881
Pye: 1896
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Cambridge changing the world of health
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Cambridge changing the World of IT
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Leading to Europe’s most successful technology
cluster.
?
2x $10Bn
companies
14x $1Bn
companies
A vibrant
Cambridge Cluster
Economy
World leading
underpinning
science
19 science parks, 1,525 cluster companies
57,000 employees £13Bn+ t/o
Whittle Turing Darwin Watson & Crick
Babbage
Rutherford
Sanger…
92 Nobel Prize Winners &
…
Oscar
1
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MIT Survey of Global Expert Opinion
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MIT Survey of Global Expert Opinion
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Chancellor of the Exchequer’s speech on science in
Cambridge, 25 April 2014
“This
support for and application of science is right
at the centre of our long term economic plan.
You are testament to the world leading science and
innovation that we have in Britain.
Ideas developed here, commercialised here, and
now at the centre of Britain’s industrial recovery.
It’s an extraordinary story –
and I know that with the
right support from government, you can do even
more. So
I’m here to tell you: we will continue to
back Cambridge.”
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The Cambridge model
•
Recruit the best academics in the world
•
Give them the freedom to do what they choose.
•
IP belongs to the University unless requested by the academics
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Intellectual Property
•
Intellectual Property
Evolutionary
Industry
Incumbents
Tacit
Consultancy
Policy
Disruptive
Mavericks
Supporting
Existing
Industries
Licensing
Research Collaborations
Creating
New
Industries
Spin Outs
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Cambridge Enterprise
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XO1
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Deradicalising religious youth
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Saving the Olympics!
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Some comments on university technology transfer
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Don’t copy Cambridge
•
Cambridge works in Cambridge
•
Other places have:
•
Different cultures
•
Different environments
•
Different legal and regulatory constraints
•
Different resources
•
Different objective
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Our driver is societal benefit
•
CE costs ~£2.5m p.a. to run
•
“financial
contributions of patent licensing to most university operating
budgets are modest at best, and negative for a great many
institutions”
1
•
Only 15% of US university TTOs break-even or better
•
•
The 15% are generally in a serendipitous big win
Stanford OTL is currently wrestling with the end of its recombinant DNA patent royalties which are
60% of their total license income
•
But there is a high economic return on investment
2
•
Average across England for HEIF is 7.3x monetised and 2.4x non-monetised
•
Top six are 22.5x, bottom one is 1.5x
America’s research enterprise,
US National Academies (2014).
1
Furthering
2
HEFCE:
Assessing the Economic Impacts of the Higher Education Innovation Fund (2015)
37
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It takes time……..
Income vs Age of IP
Cambridge
90%
80%
University of California
60%
50%
40%
30%
20%
10%
0%
70%
60%
50%
40%
30%
20%
10%
0%
0-5yrs
5-10yrs
>10yrs
0-10yrs
10-20yrs
>20yrs
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The SME question
•
There are 5 million SMEs in the UK
•
There are 200 thousand academics (25:1)
•
The UK universities can probably support 10-20 thousand SMEs
•
Therefore >99% are going to be disappointed.
•
The question therefore is not how we work with more SMEs but what
identifies the small number of SMEs we should be working with
•
The Cambridge cluster has over 1,500 high tech SMEs
•
We touch a small number through research
•
We touch a large number through graduate/PG employment and the
environment.
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Are Universities difficult to work with?
•
•
Many anecdotes but little evidence.
Many issues central to a university are not familiar to many companies
•
Charities Act
•
•
•
•
•
•
•
State Aid
Freedom to carry on core business of research and teaching
Diligence provisions
Cannot warrant outcomes of research
Many companies do not typically have
the depth of experience of TTO’s –
one or two licenses/spin outs
p.a. vs
100’s
Lambert (standardised) Agreements
The activity is complex
–
many diverse and different drivers.
•
In a recent survey of business perceptions of Cambridge, Oxford and Imperial, “difficult to work with”
was the least cited characteristic (3% of responses)
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Do we need a TTO?
•
Most jobs would still need to be done by someone
:
•
•
•
•
•
•
•
Advise academics
Identify and protect IP
Check freedoms to operate
Check contractual constraints
Check export control restrictions
Actively market the technology (to industry or investors)
Select licensee(s)/build business plan and investor syndicate
•
•
•
•
•
Negotiate license or investment terms
Audit licenses
Collection and distribution of revenues
Supporting translational funding
–
MRC-Confidence in Concept, Wellcome Seeding Drug Discovery,
………..
•
Some academics have the necessary experience, most do not
•
Many opportunities are too early/too different for industry
•
Many opportunities are social rather than financial esp. in AHSS and not
going to be supported by industry or investors
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Thank you & questions.
[email protected]
www.enterprise.cam.ac.uk