1. What should I do if I have some new intellectual property that I would like to commercialise?
2. At what stage should I contact Techtran to discuss my idea?
3. What will Techtran ask me about my idea?
4. What can I expect if I choose to work with Techtran?
5. What happens if Techtran decides not to pursue an opportunity?
6. What is the cost to me of using the Techtran services?
7. How does Techtran make money?
8. Does Techtran invest its own money in opportunities?
9. How does Techtran make money?

1. What should I do if I have some new intellectual property that I would like to commercialise?

If you are an academic within the University of Leeds and you would like to discuss the potential for commercialising your new intellectual property the first step is to contact the University's Enterprise and Innovation Office (EIO) who will be able to advise you on whether your technology is free to be commercialised. For details of how to contact EIO, please see our Academic page.

Provided there are no issues over ownership, the Enterprise and Innovation Office (EIO) will then pass information on your intellectual property to Techtran.

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2. At what stage should I contact Techtran to discuss my idea?

Techtran is happy to discuss and provide feedback on potential commercialisation opportunities with academics at any stage in their development.

The level of help we can provide thereafter will always be opportunity specific. As a general rule however, we are always looking to work with academics early on in the development of new opportunities.

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3. What will Techtran ask me about my idea?

When Techtran initially reviews your new idea we will be seeking to gain a top-level understanding of the commercial applicability of your technology.

In order to do this we are likely to work with you to gain an understanding of the opportunity. Examples of the types of question that we are likely to ask are noted below.

• What is different about the new technology - why is it better than existing alternatives?
• Who the potential customers for your proposition?
• What is the size of the addressable market and how much is it growing?
• What is the competition - competing companies and technologies?
• How long and how much it would take to get the technology to the point that customers could begin using it?
• How would you like to be involved in the business going forward?

Don't worry if you don't have answers to all of these questions - our team will work with you to find out the required information.

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4. What can I expect if I choose to work with Techtran?

If all goes well and both you and Techtran agree to pursue commercialisation, then this will be the start of an exciting journey.

The exact process for commercialising new ideas will vary from concept to concept depending on the needs of the academic, the type of proposition and the stage of development of the technology.

However, some key tenets of the process will be the same for all new opportunities:

• Each new opportunity will be assigned to a Techtran Investment Manager, who will act as your key point of contact and work closely with you to help develop your proposition for the commercial marketplace.
• " Techtran will also, at its discretion, be able to provide up to £50,000 grub funding for a business to help in its early development. This funding may be used for a number things - for example, to pay for the formation of a public face for your business (branding, website, marketing collateral) or to pay for market research reports to help gain a better understanding of your target markets.
• Much of the early focus of the efforts will be on developing the commercial side of the business - for example by seeking potential customers, both to help gain and understanding of their needs and to act as potential test users or initial paying customers of licensees.
• If a spin out is chosen as the best method for taking your idea to market, Techtran will be responsible for helping you to secure financing for your business. We will help you to develop the business plan and then use IP Group funds as well as our network of contacts within the UK venture capital industry to find the most appropriate funders for your business.
• Techtran will also be able to help you gain access to low-cost, high-quality services through our network of external partnerships. For more information on these services, please see the Partners section of our website

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5. What happens if Techtran decides not to pursue an opportunity?

Techtran will always provide frank and clear feedback as to why ideas we choose not to pursue are not suitable for Techtran. It may be that the idea is just too early stage at this time, in which case Techtran will advise you as to what milestones you must achieve before we can take the idea forward to market.

If it appears unlikely that Techtran will ever pursue the opportunity to help commercialise your new intellectual property then we will give you a full explanation as to why we feel the idea is not worth pursuing. If however you decide to go ahead and try to commercialise the idea on you own then we will be more than happy to provide access to our partner services and other useful contacts that may be able to assist you in that process.

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6. What is the cost to me of using the Techtran services?

Academics can choose to obtain help from Techtran in commercialising their new intellectual property without adversely affecting their own equity holdings or share of licensing revenues. Instead, Techtran shares in the equity traditionally awarded to the University.

Once established, a business may decide to engage additional support services or seek help from Techtran in the form of additional consultancy services. The charges for these services are defined in Techtran's service agreement with the University of Leeds and are designed to cover our own costs rather than drive profits from any new businesses.

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7. How does Techtran make money?

Techtran's main return is generated from capital appreciation from the sale of its interests in spin out companies that it helps to create and build. Techtran also generates income from its share of the revenues from licensing deals that it helps to negotiate.

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8. Does Techtran invest its own money in opportunities?

Investments usually occur in two stages (i) ‘Grub’ funding up to £50,000 in order to develop very early stage business ideas followed by (ii) Seedcorn funding (typically around £250,000 - £500,000) to allow the spinout company to further develop their technology and to establish initial routes for commercialisation. For simplicity, the Grub investment is often made in the form of a loan to the company, which is converted to equity at the time of any subsequent seedcorn funding. If the Grub funding results in a license deal which generates revenue, the money would be repaid to the Grub fund so that it may be re-invested into future opportunities emerging from the University.

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9. If I am not connected with the University of Leeds, can I use the Techtran services?

Techtran is currently focused on developing opportunities that emerge from the University of Leeds although we may be able to help external businesses to secure assistance from some of our partner organisations. To find out more e-mail info@techtrangroup.com

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