(NU/1433-19) MicroBritt: Commercialisation of university research through provision of management skills to assist in successful spin-out company creation

Description

A new manufacturing paradigm is emerging whereby there is an increasing need for rapid production of bespoke high value products. This is already prevalent with the rise in the use of 3D printing and machining technologies. Such approaches, if applied to the microsystems space will allow for rapid biosensor development, bespoke micro-component fabrication, and novel systems for the Internet of things. Newcastle University has developed a novel method, called Hy-MEMBS, for machining a variety of brittle materials while minimising edge chipping which usually occurs when milling microscale grooves in brittle planar or 3D materials. This work was led by Dr Dehong Huo, Prof. Patrick Degenaar and Dr Carl Dale from the School of Engineering at Newcastle University. The aim is to create a service-based spin out company, called Microbritt, which will address the rapidly increasing need for high-speed, high-value bespoke manufacturing with microscale precision. The initial brief of the executive will be to: Phase 1: Seed Funding; To help obtain seed funding alongside Carl (Interim CEO / Sales Director) and the Microbritt team. The seed funding will aid cashflow around the Innovate UK grant income. Phase 2: Development of internal documentation and procedures including a standard customer contract template, a standard employee contract, terms and conditions and HR processes, financial controls and reporting including practicalities like bookkeeping, VAT, payroll, NI, PAYE and pensions. Phase 3: Create a specification and contract for Microbritt’s manufacturing web portal. Phase 4: Develop commercial documentation for business processes for lead generation, sales, production, and customer service. Phase 5: Development of a comprehensive and ambitious Business Plan, backed up by a full financial model for Series A fundraising. Lot 1: Newcastle, Durham, Sunderland and Northumbria universities, in common with universities throughout the UK, have advanced relevant systems and procedures and also dedicate significant public resource to both research and commercialisation of that research. A key route to commercialisation is the creation of a new business (a spin-out company) wherein the intellectual property (IPR) developed exclusively licenced to a university start-up company in exchange for (founders) shares in that company. The universities ill engage suitably qualified and experienced executives through the DPS as and when required over the DPS period. The specific requirements will be detailed in each further competition. The initial brief of the executive for which he/she will be paid, dependent upon the scope of the specific project engagement sought, either a payment or a combination of a payment and a share/stock option will typically be to: (a) produce a viable business plan; (b) obtain university approval for the venture; (c) act for the company in the spin-out legal process and address all the company formation matters; (d) provide to the appropriate university all matters necessary for ESIF,ERDF and Research England reporting requirements; (e) secure (venture capital and/or other) funding in accordance with the business plan.