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Spinout Review: Statement of Best Practice Adoption 2024

The University of Bath's declaration of adoption statement regarding the government's Spinout Review and its alignment of best practice with University policy.


Factsheet

A photo of the University of Bath library taken in the evening
The University of Bath welcomes the publication of the Independent Review of University Spinouts.

The University of Bath welcomes the publication of the Independent Review of University Spinouts. Best practice guidelines as laid out in the Review, as well as in TENU’s University Spinout Investment Terms (USIT) Guide, are well aligned with the University’s current policies. We are intent on closer alignment with these guidelines, and with further national guidelines including with terms for different sectors when they emerge.

We strongly support the recommendations of the Independent Review of University Spinouts. Our response to the Review has been informed by our membership of the SETsquared Partnership, and has been reviewed by our University Commercialisation Executive Board (which includes external membership) and our University Research and Knowledge Exchange Committee. It has been approved by our University Executive Board.

The best practice guidelines in the Review and in the TENU USIT Guide are consistent with (but not identical to) our recently amended practice. Our terms and processes for spinouts are subject to continual updating and are closely aligned with both documents.

Our response to the Review is not only to change our terms to be identical to those suggested, but at the same time to make other changes to enhance the spinout process at the University and to improve transparency. For example, our current terms for founders (“equity splits”) are defined in our University Ordinances. Although these have been updated recently the Ordinances are not especially transparent or accessible. We have previously responded by reproducing the terms elsewhere as a secondary source. Our response to the Review is to create a free-standing IP Policy and to remove the terms from the University Ordinances.

In a second example, although we have sometimes previously allocated equity to those who will work to make a success of a spinout, our free-standing policy will explicitly encourage distinct recognition of those who generate IP and those who will invest their time in the spinout. These changes and others are contained in a programme of actions which has been devised to implement our response to the Review. The majority of the actions will be implemented by the end of the summer with a small number being completed by the end of the calendar year.

Contact us regarding the adoption of the Spinout Review best practices

Email Director-RIS@bath.ac.uk

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