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Mirifice's CEO Paul Tinkler (left) explains his recent US contractual successes to Lord Sainsbury and University of Bath Vice-Chancellor, Professor Glynis Breakwell (Simon Rix)
Mirifice's CEO Paul Tinkler (left) explains his recent US contractual successes to Lord Sainsbury and University of Bath Vice-Chancellor, Professor Glynis Breakwell (Simon Rix)

Internal News - 18 October 2006

Lord Sainsbury addresses University spin-outs

New technology and science companies from the University of Bath were showcased to over 150 investors at the SETsquared Partnership Investment Showcase held in London on Monday with Lord Sainsbury, Parliamentary Under-Secretary of State for Science and Innovation, as the keynote speaker.

To date, the SETsquared Partnership, the enterprise collaboration of the universities of Bath, Bristol, Southampton and Surrey, has helped new external ventures to raise more than £25 million of early stage funding and raised over £45 million of follow-on funding for university spin-outs.

Focusing on high quality companies results in excellent returns and the flotation of four SETsquared university spin-out companies since the start of 2002 has created a combined market capitalisation of over £160 million.

Commenting on the event, Lord Sainsbury said:

"The Government's vision for the UK is that we should be a key hub in the global knowledge economy - with a record of discovery and innovation; a country which invests heavily in business research and development, education and skills, and exports high-tech goods and services to the world.

"To this end, we strongly support university research and its commercialisation and the UK's university-grown science and technology businesses.

“The four universities of the SETsquared Partnership, which started as a Government-sponsored initiative to promote enterprise, are advancing their global research and capable of attracting venture capital."

The showcase, the culmination of a programme to support and encourage potential high growth technology companies and science-based university spin-outs, brought a wealth of opportunities to the attention of invited venture capitalists and investors.

Selected by an expert panel, from spin-out companies and entrepreneurial start-ups in southern England, six companies gave presentations, with an additional 14 exhibiting. Each is likely to be offering an investment opportunity of up to £2 million over the coming year.

Francis Carpenter, Chief Executive of the European Investment Fund, also spoke at the SETsquared Partnership Investment Showcase, addressing globalisation opportunities and challenges for university enterprise.


University of Bath Spin-outs and SETsquared Business Acceleration Centre Companies

Apex Optoelectronics Emerging opportunity from the University of Bath
Apex Optoelectronics is a candidate spin-out company that will manufacture and supply high quality Gallium Nitride templates on to which can be grown very reliable, high power light emitting diodes, blue laser diodes, and other microelectronic components.

Atlas Genetics University of Bath Spin-out
Atlas Genetics is developing a fast, portable, and robust DNA diagnostic system. Clinicians will load a clinical sample onto a cassette and receive a test result within 20 minutes, allowing rapid diagnosis of infectious and inherited diseases.

Fitronics University of Bath Business Acceleration Centre Member
Fitronics measures customer satisfaction and improves customer retention through a technology which motivates users of fitness centres and athletic clubs.

MirificeUniversity of Bath Business Acceleration Centre Member
Mirifice's flagship product Mirimon provides real time monitoring of an end user device, such as a mobile phone or digital TV. Mirimon means quick, accurate diagnosis before a customer call is made, reducing operational costs through: quick resolution of network faults, reduced user equipment swap outs and reduced call centre traffic.

Visual InformationUniversity of Bath at Swindon Business Acceleration Centre
Visual Information provides mapping software and services to be used as a productivity tool by business managers to analyse and improve their sales and operational efficiencies.

Walcot Electric Machines - Emerging opportunity from the University of Bath
Walcot Electric Machines is a candidate spin-out company that will develop and licence IP relating to high efficiency electric motors for fixed speed applications, and will offer end-users substantial reductions in the cost of operation.

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Notes

The SETsquared Partnership: Heeding the UK government's call for strengthening of the economy through business creation and accelerating company growth, the SETsquared Partnership, the collaboration of the Universities of Bath, Bristol, Southampton and Surrey, aims to secure the UK as a global leader in new businesses and innovation. The SETsquared Partnership is advancing enterprise and entrepreneurship in southern England through:


Business Creation & Acceleration: The universities of the SETsquared Partnership generate quality companies, bringing the commercial applications of university researchers' findings to market. In the last two and one half years, three SETsquared companies have achieved four IPOs, with a total market cap of £170 million and an average time to market of less than two years. Together, the universities of the SETsquared Partnership represent the largest single source for academic knowledge transfer in the UK and have a collective research base of over 6,500 researchers. The SETsquared Business Acceleration Centres support early-stage, technology, high growth potential ventures both from within and outside the universities to accelerate their businesses. Each Centre provides entrepreneurs business mentoring and guidance, support to entrepreneurs and business professionals and office space. Four out of every five ventures developed in the Partnership originate from the local communities. To date, the Partnership has helped new ventures to raise more than £25 million of early stage funding. Over 50 ventures a year are supported with a network of more than 450 seasoned technology entrepreneurs, investors and support professionals.

Enterprise Education : Providing business skills training for university students and staff to build the UK businesses of the future.

Innovation for Existing Businesses: Making university experts as consultants or postgraduate placements available to established businesses to further innovation in industry.