Introducing academics to roles and responsibilities of being a Director in a commercial enterprise through Mock Boards

Project information

Index: 0787R2
Acronym:DISTRICT+
Priority:1: Innovation and the knowledge economy
Sub Theme:Innovation, research and technology development
Location UNITED KINGDOM WEST MIDLANDS Shropshire and Staffordshire Start/End date of the practice
Start: 01/08/2010

Topic of the practice

spin-offs tools for industrial SMEs

Good Practice Information

Creating an environment to nurture potential University spin-out activities and embed corporate practise with Postgraduate researchers and University academic staff. Academics in many cases lack experience in business.The Mock Board approach is intended to involve academic inventors,University management and administration staff in a structured approach to developing potential IPR and commercial opportunities. This will introduce skills and procedures that project leads will require if the opportunity grows into a spin-out company. Its main objectives are to develop academic inventors' skills and horizons to act in the interests of a potential spin-out company, to monitor progress of potential developments, to fully develop a business plan for the potential spin-out company

Evidence of success

Since started Mock Boards at Staffordshire Univerisity have been used for seven potential spin-out companies. This has been hugely succesful. Staffordshire Univerisity have managed to convert some of the potential spin-outs into new companies that are trading from the foundation that they had during the incubation period and the mock board.

Contact details to obtain further information on the practice

Dr Stuart Brown

Staffordshire University

stuart.brown@staffs.ac.uk

www.staffs.ac.uk

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