|
We have developed the following investment criteria which we believe correspond with the greatest chance of commercial success at the same time as minimising risk.
- Intellectual Property which:
- Embodies a substantial technical advance
- Has been shown to work by experiment
- Is capable of being developed quickly into a prototype
- Can be cleanly assigned or licensed to a company in due course
- One or more market opportunities which, on further due diligence:
- Can be shown to be of at least £50 million in size
- Are growing and profitable
- Have a positive track record of early adoption
- Contain several referenceable companies which have expressed interest in the technology
- An inventor who:
- Is committed to the development of a marketable product or service
- Is capable of working in a high-performance team
- Has an outlook compatible with a private-sector investor
- High-quality commercial leadership, comprising individuals who:
- Have a detailed knowledge of the proposed markets
- Are capable of grasping detailed technical content
- Will work well with the inventor and colleagues
- Are prepared to "roll their sleeves up"
- Will add credibility in the eyes of customers and follow-on investors
Not all the above criteria need to be met at the outset: typically we will work with project teams and UMIP to the point where these criteria are substantially met. We will invest at any stage from prototype/demonstrator development to start-up, in amounts from £10,000 to £250,000.
Before investing, we will conduct our own due diligence, including IP due diligence and referencing of markets, potential customers and people. Where commercial leadership and mentoring satisfactory to us is not already in place, we will assist in the recruitment of an appropriate individual, whom we may also ask to help us with our due diligence. We will also work with management and the commercial mentor to validate and optimise project and spending plans.
|
