Women in Science
Building spin-off companies and collaborating with industry
Interview excerpt: Kylie describes how the University can help and what benefits it can get from supporting the development spin-off companies.
Firstly I guess having to get contracts and material transfer agreements and confidentiality agreements and things set up before we even begin, that sort of creates a whole infrastructure of administration that you're not used to worrying about. So when you start an academic collaboration with another scientist, you tend to just be excited about getting the science off the ground and not worry too much about any of that. Suddenly with the Industry projects it does mean, you know, that we have to get some of that paperwork in place particularly when we've got quite important background intellectual property that we want to protect and so there's some of that administrative work to do in the background beforehand and the University's being really supportive of sorting all of that out.
Is it possible to roughly explain how the finances of a spin off works? I presume there's a benefit to the University? Financially?
Yes, yes, yes, that's right. Yes, yes so, so the University has a share in the, in any profits from a spin out company. So they would benefit but also the members of my team who've been inventors and beneficiaries on the patents that we've filed would also benefit from that if it all makes it, you know, to success. But, you know, it's always a long shot I guess with starting up anything like that. But, yeah so there would be…
And Industrial partners help with…?
At the moment?
At the moment the Industrial partners have been just on an academic sort of level so there's not specific licence agreements we've entered into or anything yet with any industrial partners but that would be something that, yeah, as we get closer to the commercialisation that's the, I guess that's the conversations would get more to that level and that's where Oxford University Innovation helps.