The University Council has approved changes to Ordinance 22.8; revenue shares from licensing agreements, and Ordinance 22.9; equity shares from company formation.
The changes are intended to be more attractive to academics who are interested in commercialising the University’s Intellectual Property.
The University recently undertook a review into its Enterprise, Entrepreneurship and Innovation activities. A recommendation from this review was to consider changes with the potential to increase the overall return from research commercialisation and enterprise.
The changes agreed by Council on 23rd July 2020 will make the University’s policies more attractive to academics, and are intended to stimulate further commercialisation activity.
Professor Jonathan Knight, Pro-Vice-Chancellor (Research) says:
The University of Bath already has a strong track record of commercialisation; the SETsquared enterprise partnership of which Bath is part was voted global #1 university business incubator for the third consecutive time last year. The new policy changes will further support our enterprise output and strengthen our commercial impact.
Phil Brown, Head of Technology Transfer in Research and Innovation Services (RIS) at the University says:
A key metric of the new Knowledge Exchange Framework (KEF) is the revenue generated from the commercialisation of University Intellectual Property (IP). The recent changes approved by University Council will definitely encourage our academics to commercialise their research and attract further commercially minded academics to the University’.