UCL launches new £50 million research fund

UCL launched a £50 million fund yesterday, with the aim of investing in the next five years of intellectual property developed on its campus.

Designed to aid academics and student entrepreneurs alike in the commercialisation of their research, those working in the fields of life sciences, engineering, and information communication technology will be able to apply for funding.

A particular target group will be scientists looking to development proof of concept and fund licensing projects, as well as the creators of new spinout startups.

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UCL’s technology transfer company – UCL Business – has already launched over 60 spin-out companies with the aim of commercialising the intellectual property of UCL researchers.

Several of the recent endeavours have included MediaGamma, a digital advertising company, but also Freeline and Autolus – companies in the life sciences industry working on gene therapies and cancer treatments, respectively.

Imperial Innovations, set up by Imperial College London, is contributing £24.75 million to UCL’s new fund. This is being matched by The European Investment Fund – part of the European Union’s European Investment Bank.

The remaining £500,000 will be coming from Albion Ventures, an independent venture capital investor, who will manage it.

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.”