Introduction to Prospect IP Peter Mc Leod Innovation

Introduction to Prospect. IP Peter Mc. Leod Innovation Manger

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 by HEFCE Commercialisation of latent IP Closed to applicants in June 2008

East Midlands Challenge

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

Examples

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

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 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 Provision 4. Development Recommendations

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 of IP potential Identify broad development challenges

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 referral to funding Practical licensing advice and support

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 sought Wide eligibility criteria Direct access to University expertise Awareness and training events open to all

The Team

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

Any Questions?