Fund to bridge 'innovation gap'

A new fund launched today by Oxford University will enable donors to support proof of concept and prototyping work to turn more research ideas into commercially-viable technologies, products and services. The Oxford Invention Fund, which will be managed by Oxford University's technology transfer company Isis Innovation, is part of Oxford Thinking, the Campaign to raise a minimum of £1.25bn for the collegiate University. It is widely recognised that there is an 'innovation gap' between the early stages of an invention or idea and the point when it is mature enough to be commercialised through a license or spin-out company. The new initiative aims to raise up to £5m to create a self-sustaining fund to help develop Oxford inventions to the point when they can attract commercial investment. 'Many university-based inventions lack well-developed product prototypes and vital experimental data to help them succeed, and obtaining funds for such work from venture capital providers or research funders is still a problem,' said Tom Hockaday, Managing Director of Isis Innovation. 'The aim of this fund is to support the work needed to make even more Oxford inventions attractive propositions for licensing or investment.' 'The Oxford Invention Fund provides the opportunity for donors to the University to see their donations used to support innovation and enterprise in Oxford, and to see a return to the University from successful new business ventures,' said Bernard Taylor, Chairman of Isis Innovation.