University’s spin-out vehicle celebrates strong year for fledgling ventures

A University of Manchester venture to commercialise its research is forging ahead in its goal to create pioneering spin-outs, despite challenging market conditions.

The University of Manchester Innovation Factory (UoMIF) is dedicated to translating research into commercial opportunities while working closely with academics, industry partners and investors to create and support spin-out companies and license cutting-edge technologies.

It has revealed it has met or exceeded several key performance targets over the past year, reinforcing its commitment to fostering innovation in Manchester and supporting the commercialisation of cutting-edge research to benefit society.

It successfully launched seven new spin-out companies which span a diverse range of sectors, showcasing the breadth of innovative research emerging from The University of Manchester.

These include: Haliogen Power, Plant Organelle Technologies, Oncodrug, VariantValidator, CASA Space Technologies, Kavarney – with CGSkin recently acquired by Skin Diary, as well. 

In addition to success in setting up spin-outs, UoMIF secured £2.3m in licensing income.

Future growth in this space looks positive, too, with ongoing negotiations and potential deals progressing.

UoMIF has also secured £9.2m in first investments for new university spin-outs, significantly exceeding its target of £5m.

This success reflects the growth of investor confidence in high potential technologies developed within the university, it said.

Catherine Headley, CEO of the University of Manchester Innovation Factory, said: “This year’s performance is a testament to the dedication and hard work of our team and the remarkable talent within The University of Manchester.

“The successful launch of seven new spin-outs and the exceptional level of investment secured are clear indicators that our innovation ecosystem is thriving.

“While there is room for growth in our licensing income, we are confident that the foundations laid this year will lead to significant future opportunities. We remain committed to supporting our researchers in transforming their groundbreaking ideas into impactful, real-world solutions.”

Luke Georghiou, Deputy President and Deputy Vice-Chancellor of The University of Manchester, said: “The Innovation Factory plays a crucial role in transforming our academic breakthroughs into tangible societal benefits.

“The success of this year’s spin-outs and the remarkable level of investment secured are clear evidence of the impact the Innovation Factory is having.”

He added: “These results demonstrate the university’s continued commitment to driving technology and entrepreneurship and it highlights the vital place that Manchester has in leading the world’s innovations.

“I commend the entire team at UoMIF for their outstanding achievements this year ensuring that The University of Manchester remains at the forefront of research commercialisation.”