Start Up and Spin Out Panel

TERMS OF REFERENCE

The University policy relating to company spin-outs includes the Start Up and Spin Out Panel which has the devolved authority of the University Court, via the Finance & Resources Committee (or its successors) with the following remit :

To oversee the University’s support for student and staff company creation activities;
To provide support for meeting the University Innovation Fund Outcome “(The) sector will have made significant positive change in the way entrepreneurial opportunities are promoted and delivered to students, HEI staff and businesses”;
To make the final decisions surrounding the creation of new spin-out companies;
To be responsible for monitoring the University’s investment in spin-out and subsidiary companies;
To make the final decisions relating to any sale of equity in spin-out and subsidiary companies;
To make decisions on loans or temporary financing where the sum involved exceeds £10,000 or where a loan of any value is converted to equity; and
To recommend to the Senior Management Team of distribution of any Net Income generated as a result of the sale of equity, along the following principles:
- A proportion available for non-founding staff inventors as agreed at the time of forming the spin-out;
- A proportion available to the School(s) from where the activity arose, subject to approval of any proposed activity using the proceeds;
- The remainder to be retained and managed centrally for strategic purposes proposed by SUSOP, including support for further commercialisation activities.

MEMBERSHIP AND COMPOSITION

Membership

Vice-Principal Regional Engagement (Chair)
Vice-Principal Research
Chief Finance Officer (or nominee)
Director of Research & Innovation
Commercialisation Manager
Senior member of Academic staff with experience of company creation
Up to two additional members with appropriate experience
Clerk (in attendance)

Composition

Pete Edwards, Vice-Principal Regional Engagement and Regional Recovery (Chair)
Nicholas Forsyth, Vice Principal Research
Mark White, Chief Finance Officer
Liz Rattray, Director of Research & Innovation
Ann Lewendon, Commercialisation Manager
Graeme Paton, Head of School, Biological Sciences
Epidarex representative to be confirmed ahead of each meeting

In attendance:

Heather May Morgan, Dean for Enterprise and Innovation
Craig Sherrit, Assistant Director Financial Accounting
Barbara Gorgoni, Technology Transfer Executive (Clerk)

FREQUENCY OF MEETINGS

The SUSOP meets three to four times per session and reports to the Enterprise and Innovation Committee.

Further information is available from :

Barbara Gorgoni - Clerk

Email :barbara.gorgoni@abdn.ac.uk

Ann Lewendon - Research & Innovation

Email: a.lewendon@abdn.ac.uk
Tel: 01224 272477