Statement of adoption - Government review of university spinouts

The Open University welcomes the Independent review of university spinouts and aims to enhance the effectiveness, transparency, and impact of our future spin-out companies, fostering innovation, economic growth, and collaboration. We will be adopting the recommendations outlined in the review as detailed below.

Streamlined licensing and Intellectual Property processes

1. We endorse the proposal to simplify licensing and Intellectual Property (IP) transfer procedures. We are updating our IP policy and associated guidance in a way that reduces administrative barriers so that we can accelerate the commercialisation of our research.
2. We will use TenUs University Spinout Investment Terms (USIT) as a starting point for our spin outs.
3. We will continue to provide accurate data to HESA on spin outs and engage with any national register that is developed.

Support for early-stage ventures

1. We will continue to invest our knowledge exchange funds (e.g. Higher Education Innovation Funds (HEIF)) to provide effective Tech Transfer support and proof of concept funds.
2. We will continue to work in collaboration with incubators, accelerators, and industry partners to help spinouts access resources, networks, and expertise.

Industry-academia collaboration

1. The proposed framework for stronger collaboration between universities and industry players aligns with our Knowledge Exchange Plan.
2. We will continue developing an ecosystem where spinouts can engage with established companies, fostering innovation and cross-sector partnerships.

Inclusivity and diversity

1. We commit to promoting diversity within spin-out leadership teams. Gender, ethnicity, and other dimensions of diversity contribute to better decision-making and innovation.
2. Encouraging female and other underrepresented entrepreneurs to participate in spin-out ventures is essential for a thriving ecosystem.

The Open University recognises the role that university spinouts play in driving economic growth, technological advancement, and societal well-being. By implementing these measures, we aim to create an environment where innovation flourishes, benefiting both academia and the broader community.