Spin-outs to target rich Isle of Man residents
UMI3, the Manchester University body which helps spin-outs, is targeting potential investors on the Isle of Man.
It has teamed up with the university’s Faculty of Medical and Human Sciences and the Isle of Man’s Department of Economic Development to attract business angel finance into its early stage biomedical spin-outs.
The collaboration will involve twice-yearly network events on the island when a selection of companies and academics will present to an invited audience of high net worth individuals.
One of the events is expected to take place alongside the Manx Biomed conference which was launched in December.
Dr Rich Ferrie, director of operations of UMIP, UMI3’s intellectual property division, said: “We are very excited by this initiative which looks to broaden the investment opportunities for our biomedical spin-out companies and strengthen our ties with the developing biomedical cluster on the Island.
“We look forward to working closely with Courtenay Heading and his colleagues to make a success of this collaboration for mutual benefit with a view to rolling it out to other sectors as appropriate.”
Courtenay Heading, inward investment consultant to the Isle of Man Government, said: “As near neighbours this initiative builds on trusted relationships between our people. With existing data hosting and precision manufacture sectors we offer complementary skills to the biomed market. With an accessible Government we’re also capable of writing our own legislation, to support such an important initiative to improve patient health and create local jobs.”
