Technology funder partners Birmingham universities to help start-ups
THE University of Birmingham and Aston University are hoping to expand their spin-out success after joining four other Midlands universities as investors in Mercia Technologies.
Warwickshire-based Mercia funds the development of new start-up technology business by helping to commercialise their operations. The funding manager floated on the Alternative Investment (AIM) in December.
Birmingham and Aston join the University of Leicester, Coventry University, Birmingham City University and Staffordshire University, which have all come on board as investors in the funding stream.
The six are among the nine UK universities and research centres with which Mercia Technologies has collaborative relationships. They provide a consistent pipeline of quality spin-out and early-stage investment opportunities making up to 50% of the investments made by the FCA-authorised and wholly-owned subsidiary of Mercia Technologies, Mercia Fund Management (MFM).
Dr Mark Payton, Chief Executive of Mercia Technologies, said: “It is pleasing to note that six of our university partners are now Mercia shareholders, a strong sign of their belief in our investment proposition.”
Dr James Wilkie, Director of Research and Innovation Services at the University of Birmingham and CEO of Alta Innovations Ltd, its technology transfer company, said: “The University of Birmingham was one of the founding members of the original Mercia investment fund in 2007 and taking a shareholding in Mercia Technologies PLC continues our deep relationship with one of the UK’s leading early-stage fund management teams.”
While operating nationally, the Mercia investment team has a particular focus on the Midlands and the North and is now moving into Scotland, where it believes there are exciting investment opportunities that are failing to attract the expertise and investment capital necessary to scale their business proposition.
Elsewhere, MFM’s success has been recognised with two honours in the Enterprise Investment Scheme Association Awards.
The company has been named Best Seed Enterprise Investment Scheme Fund Manager 2014 and was joint winner of the award for Best Innovation, Newcomer or Rising Star 2014.
“This is a prestigious event for all of those involved in advising on Enterprise Investment Schemes and we are very proud to have our hard work recognised with these two awards,” added Dr Payton.
“It is testament to the high level of professionalism and expertise at all levels of Mercia Fund Management and I would like to congratulate and thank everyone who has contributed to this success.”
The awards are organised by the independent not-for-profit EIS Association and cover six categories.
