News & Views
UCL Launches £50 million Investment Fund
Jan 20 2016
University College London (UCL) has launched a Technology Fund to invest £50 million in commercialising its world-leading research emerging over the next five years. It will support academics in all disciplines whose research has commercial potential, through early stage proof of concept, licensing projects and new spinout companies.
Building on the success of UCL’s technology transfer company UCL Business (UCLB), it will increase the number of projects supported and improve the financial return to the university. UCLB has launched over 60 spin-out companies including Freeline, which is developing gene therapies for blood disorders and Autolus, which is developing cancer immunotherapy treatments.
The European Investment Fund (EIF), one of the largest providers of venture investment in Europe and Imperial Innovations, a leading UK public technology commercialisation company have each committed £24.75 million to the project for the initial investment period of five years. EIF’s contribution is supported by the Investment Plan for Europe. The fund will be managed by Albion Ventures, one of the UK’s largest independent venture capital investors and also a contributor.
Dr Celia Caulcott, Vice-Provost (Enterprise) at UCL, said: “UCL has an impressive track record of commercialising our research through licensing and spin-outs and the launch of the UCL Technology Fund underlines our long-term approach towards investment. Together with our partners, we will ensure UCL continues to maximise the commercial opportunities of its innovative and ground-breaking research, with the aim of benefitting society as a whole and producing economic impact. The Fund exemplifies UCL’s Grand Challenges strategy which brings expertise from across UCL and beyond to solve key global problems.”
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