How can I spin out my research and become a company?

Welwyn Garden City , Hertfordshire
Friday, 14 March 2008

How can I spin out my research and become a company?

How can I spin out my research and become a company?
Friday, 14 March 2008 09:00 - 17:00

BioPark Hertfordshire
Broadwater Road
Welwyn Garden City
Hertfordshire
AL7 3AX
United Kingdom

Map and Directions


Professor Alan Barrell FRSA., DBA will Chair EuroSciCon's 'How can I spin out my research and become a company?' meeting on March 14. and raises some of the issues for those keen to spin out their research and head a new company.

LEAVING THE LABORATORY FOR BUSINESS -Who wants to be a Chief Executive?

Big decisions face all of us at many times in life. There can be no bigger decision for the academic, researcher or health professional, to leave the relative security of the laboratory bench and an environment of intellectual challenge of one kind, and pitch into the uncertain roller coaster world of business and commerce.
“So many questions” said one scientist leaving the laboratory to establish a company to exploit her intellectual property. Those questions include –

- Is my intellectual property valuable and protected?

- Have I set up a company properly – within the law?

- Do I have the finance to make my plans successful?

- If I don’t have the finance – where will it come from?

- In this regard – do I have a strong and clear Business Plan?

- Can I confidently present my Business Model to aggressive investors?

- Do I have a strong and reliable team to carry through the plan?

- Is my role, and my confidence in it – in the new company clear?

- How clear and confident I am that there is a market for what I plan to do?

- Have I looked closely and carefully at the competition?

- I am ready to take RISKS?

One of the suppositions in the title of this event – may be that if I “spin out my research and become a company” – that I will be THE BOSS – the Chief Executive. Is this normal ? Is it inevitable ? is it desirable ? Is it always possible ? That seems to me, as one who has spun out companies and been involved in directing and managing small ones and larger operations, a serious set of questions beneath the primary challenge of “starting a company”. These days, I am very pleased to see that numbers of very inspired entrepreneurs, with great ideas and technology are starting companies knowing that they will not be “THE BOSS” – because in many cases, the role of CEO might be best handled by someone of skill and experience who has done it before. The inventor might be the Chief technical Officer, or Chief Scientist – but always a very significant, usually the most significant, shareholder. Better to focus on what he or she can do best – which may well be more inventing and research – not trying to become an operations manager, which may never work.

The meeting being organised by EuroSciCon is particularly welcome, because it will enable these important questions to be asked and discussed with a very well qualified group of speakers on the platform and in the panel, to help those thinking of “spinning out” to come to better, and clearer decisions, and hopefully, better prepared actions. Indeed, for some, the answer to the question might be NOT to spin out, but to find a more effective way to exploit highly imaginative inventions. You’ll have to come along to get ANY answers !

I am looking forward to Chairing this important meeting, and as ever, learning myself from speakers and delegates. It is appropriate that the event is being held at the BioPark Hertfordshire which has been set up to support entrepreneurs who take the plunge !

Professor Alan Barrell FRSA., DBA

For more information on Professor Barrell please read his profile at  www.alanbarrell.com

This meeting will have CPD accreditation

9:15 – 9:45 Registration

9:45 – 10:00 Introduction by the Chair: Professor Alan Barrell

10:00 – 10:30 Getting Value out of Intellectual Property

Julian Hitchcock, Mills & Reeve, UK

Your head is a gold mine. This talk provides the tools you need to help you to extract, sell and protect it.

10:30 – 11:00 Personal Success Formulas to Help You Succeed

Liz Dickson, Yabber Yakka, UK

11:00 – 11:30 Mid-morning break

11:30 – 12:00 How to write a successful business plan’

David Gough, Equinox Pharma Ltd, UK

12:00 – 12:30 Bonzer or Bonanza Business - It is your choice!

Philip Baddeley, Equity Fingerprint, UK

Do you want to share equity to grow rapidly or would you rather remain in control of your company? Some of the options and some of the routes taken by others.

12:30 – 13:00 Tax & Accounting – How to get it right first time!

Dr David Taylor, KPMG LLP, UK

Forming a spin out company can give rise to a multitude of tax issues and opportunities. Getting the company formation and IP transfer structurally correct at the outset is important because it will affect the company’s ability to attract funding and employees, and may have a disproportionate affect on shareholders if you don’t get the right advice.

13:00 – 13:20 Tour of the Biopark

This meeting was organised by Euroscicon (www.euroscicon.com), a team of dedicated professionals working for the continuous improvement of technical knowledge transfer to all scientists. Euroscicon believe that they can make a positive difference to the quality of science by providing cutting edge information on new technological advancements to the scientific community. This is provided via our exceptional services to individual scientists, research institutions and industry. The event was hosted by 'BioPark’ (www.biopark.co.uk), a research and development centre in Welwyn Garden City providing specialist facilities and support for bioscience and health technology businesses to grow, and to develop new products and technologies

13:20 – 14:30 Lunch

14:30 – 15:00 “Alien Nation”. The do’s and do’s of finding a property.

William Sprigings, Marketing Director, BioPark Hertfordshire, Hertfordshire, United Kingdom

Paul Carver, Granby Martin Chartered Surveryors, UK

15:00 – 15:30 Experiences in initiating commercialization of academic research in Optics and Biotechnology

Professor Steve Lipson, Israel, Institute of Technology, Haifa

During the last thirty years three developments in my university optics laboratory have found applications as commercial products, each one resulting in a thriving company. Each one started its way on a different model. One involved an infra-red spectro-radiometer, the second a method of spectral imaging which is widely applied to genetic research, and the third uses surface plasmon resonance for proteomics research. The last two products have received international prize recognition.

15:30 – 15:50 Afternoon Break

15:50 – 16:20 An Insight into Biolatris Ltd

Dr Adam Collier, Science Director, Biolatris Ltd

The presentation will cover an overview of the current investment trends and how these impact on our investment strategy for early stage biotech. We will also provide an insight into what VCs are looking for when reviewing business plans and meetings companies

16:20 –16:50 How can I spin out my research and become a company

Martyn Postle, Director and Founder of Cambridge Healthcare & Biotech, UK

16:50 – 17:00 Chairman’s summing up

About the Chair

Professor Alan Barrell, Health Enterprise East Ltd., Medilink East Ltd., Dragon Cambridge International Ltd., E-Financial Management Ltd, UK
Biologist / Haematologist in NHS turned Businessman – in Health Care Industry, numerous senior executive positions, including CEO and Chairman roles in large and small companies. Also, ten years in Industrial Electronics Industry as CEO / Chairman – including taking companies to the London Stock exchange. This followed by five years in Venture Capital, Managing Partner of the £70 millions Cambridge Gateway early stage Fund. Business Angel, and Founder Shareholder of Library House Ltd. Latest company – China related Dragon Cambridge International Ltd. Also part-time Visitng Professor University of Xiamen, Fujian province, China, University of Bedfordshire. Senior Enterprsie Fellow, University of essex and Entreprneur in Residence, University of Cambridge. Three other small company non-executive directorships. Treasurer, Trustee and Director of Development Board, Papworth Trust – leading Chairty and Trustee, Varrier Jones Foundation.

About the Speakers

Martyn Postle is Director and Founder of Cambridge Healthcare & Biotech. He has a research background and has worked in and for the healthcare industry for over 26 years. He held various management positions over a ten-year period with Eli Lilly in areas such as New Product Planning, Business Development and Marketing. He left Lilly to join Rorer Healthcare in the UK, where he was Strategic Planning Director and a member of their Executive Committee. Martyn has been a Principal in both KPMG’s and Coopers & Lybrand’s consulting divisions where he led their respective pharmaceutical marketing and strategy consulting efforts. Prior to founding Cambridge Healthcare & Biotech has was a Senior Vice President of Cambridge Pharma Consultancy, where he led their Business and Marketing Strategy Group. Martyn spent 3 years with Dresdner Kleinwort Benson, where he was responsible for healthcare M&A projects based out of the bank’s London, Frankfurt and New York offices. Martyn is also guest lecturer at the University of

Cambridge's Institute of Biotechnology. He has advised over 70 different healthcare companies in a diverse range of projects including mergers, acquisitions, due diligence, licensing, marketing and general business strategy.

Mr Julian Hitchcock, Mills & Reeve, UK
Julian Hitchcock is a highly experienced intellectual property solicitor and a leading UK life science lawyer. Trained in medicine and media, he qualified with Wragge & Co, where he helped to establish the firm's biotechnology practice, before practising in Australia and in industry. Julian now acts for leading research universities and high technology companies, as well as NHS BT and other government organisations. Julian acts as tutor on the Cambridge University entrepreneurs' summer school and at similar venues.

Dr David Taylor, KPMG LLP, UK
Following university David worked in industry for a large chemical company as a research chemist for 8 years eventually heading up their research activities. David then retrained as a tax accountant. He has advised on the formation of more than 40 companies through the spin out process, advising on corporate and personal tax issues. More recently he has been advising companies on Research and Development tax relief claims.

Philip Baddeley has experience in industry, as a VC fund manager, as a successful entrepreneur and as a technology focused business angel. He devised the Yomp training tool (now Xing) used in many universities and basis of Yomping The Nations (now Flux2008). Now developing Equity Fingerprint which represents a firm’s investment and growth so that entrepreneurs and investors can understand the processes involved and so improve the investment scene. NESTA are funding a major research project into growth of high technology companies based on the EF methodology.

Professor Steve Lipson, received his Ph.D. from Cambridge University in 1965. Since then he has been in the Physics dept at Technion, in Haifa Israel, where he now holds the Chair in Electro-optics. He has also worked in the Optical Inductry several times on sabbaticals and as a consultant

 

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