Not so long ago spinouts were funded by friends and family and/or business angels. There has been a recent sea change with increasing numbers of funds being created to focus on the technology transfer activity of specific research institutions. Last year saw the launch of the OSI fund of £320 million for spinouts from the University of Oxford. This week UCL announced a £50million fund. This can only be good news for spinouts as typically these funds seem to be investing serious amounts of cash so that CEO's can concentrate on the commercialisation of the IP rather than having to focus on another series of fundraising.
UCL sets up £50 million fund for technology commercialisation Éanna Kelly, Science|Business Imperial Innovations and the European Investment Fund are each to put £24.75M into the University College London fund UK, which will be managed by the VC firm Albion Ventures