Up to £100,000 available to Swansea University spin-out businesses
The first provides individuals with an ambition to commercialise research at Swansea University with an initial investment of up to £5,000; to support activities such as the commissioning of the market and technical reports required as part of the investment due diligence process.
Secondly, debt or equity based investment of up to £50,000 will be offered to Swansea University spin-out companies as part of syndicated deals with third party venture capital or business angel investors. This co-investment strategy is designed to ensure that only spin-outs that are deemed investable by professional fund managers will be eligible.
Swansea City AFC shareholders Brian Katzen and Martin Morgan will be co-investing a further £50,000 alongside Swansea Innovations in all spin out businesses that meet the investment criteria.
The Innovation Fund has been inspired by the success of the University’s pilot programme InvestorG8, which yielded a number of substantial offers of investment into spin-out businesses, and is on course to deliver a 10 fold return on the £450,000 of public funding received in 2014.
“The launch of the Innovation Fund reinforces our ambition to enable the creation of successful, high-growth spin-out companies and to pro-actively assist in their financing.” Professor Richard Davies, Vice-Chancellor of Swansea University.
For further information on the Innovation Fund and the application process, please contact Lisa De Benedictis on 01792 606577 or at firstname.lastname@example.org