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Introduction to Prospect. IP Peter Mc. Leod Innovation Manger Introduction to Prospect. IP Peter Mc. Leod Innovation Manger

Agenda • • • Background to Prospect. IP Objectives of the current project East Agenda • • • Background to Prospect. IP Objectives of the current project East Midlands challenge Our service offerings Eligibility Summary

Background • • • Launched in 2006 An initiative of De Montfort University Funded Background • • • Launched in 2006 An initiative of De Montfort University Funded by HEFCE Commercialisation of latent IP Closed to applicants in June 2008

East Midlands Challenge East Midlands Challenge

Past Results • 120+ assessments • Development of in-house innovation capacity • Testing of Past Results • 120+ assessments • Development of in-house innovation capacity • Testing of innovation model • 8 products developed to various stages

Examples Examples

Current ERDF Project “Prospect. IP offers a free period of support to businesses seeking Current ERDF Project “Prospect. IP offers a free period of support to businesses seeking to develop and commercialise their product or process innovations” “Support to our partners in raising IP awareness and supporting IP development”

Services Services

Benefits • A prompt, expert and independent opinion on an innovation and its potential Benefits • A prompt, expert and independent opinion on an innovation and its potential • “No strings” support – no ownership of IP and no financial return sought • Generating and disseminating innovation learning between project partners and industry

Free Support? • • • Expert opinion on commercial potential Provision of market research Free Support? • • • Expert opinion on commercial potential Provision of market research Assessment of development needs Expertise in IP protection Access to training opportunities

Business Support Model Four stages: 1. IP Identification 2. Innovation Evaluation 3. Due Diligence Business Support Model Four stages: 1. IP Identification 2. Innovation Evaluation 3. Due Diligence Provision 4. Development Recommendations

IP Identification • Complete online application form • Initial concept screening • Confidential disclosure IP Identification • Complete online application form • Initial concept screening • Confidential disclosure meeting to review concept in detail • Offer of support or referral to third party support

Innovation Evaluation • • Establish key IP and ownership Outline market opportunity Initial assessment Innovation Evaluation • • Establish key IP and ownership Outline market opportunity Initial assessment of IP potential Identify broad development challenges

Due Diligence • In depth assessment of IP potential and Prior Art • Review Due Diligence • In depth assessment of IP potential and Prior Art • Review of inventiveness and novelty • IP “freedom to operate” assessed • Realistic and detailed commercial assessment

Development Recommendations • • Routes to market detailed IP protection strategy identified Identification and Development Recommendations • • Routes to market detailed IP protection strategy identified Identification and referral to funding Practical licensing advice and support

Eligibility • • • A SME (small to medium sized enterprise) A registered business Eligibility • • • A SME (small to medium sized enterprise) A registered business Based in the East Midlands Meet initial ERDF acceptance criteria Require IP support in regard to new products or processes • Be engaged with regional business support • Wide range of industries supported • Particularly suitable for new start businesses

Summary • • • Period of free business support No ownership or financial return Summary • • • Period of free business support No ownership or financial return sought Wide eligibility criteria Direct access to University expertise Awareness and training events open to all

The Team The Team

Contacts • Web: • Email: • Tel: www. prospectip. co. uk prospectip@dmu. ac. uk Contacts • Web: • Email: • Tel: www. prospectip. co. uk [email protected] ac. uk 0116 257 7372

Any Questions? Any Questions?