Internal Funding Sources

Proof of Principle fund

One of the major potential hurdles to overcome in IP commercialisation is finding the funding to take a novel idea to a demonstrable stage and validating the commercial potential of that idea in order to attract potential investors or licensees. Success in IP commercialisation requires pump priming. To facilitate this process, the University of Manchester have set up a Proof of Principle account for projects of good potential. The amount of money awarded averages £50,000 and is used to move the project on to the next stage, for example, the fabrication of a prototype, more in-depth market studies or the generation of additional data for a patent application.

Ideas are screened by members of UMIP's faculty team. Applications are assessed using criteria such as: IP situation, applications of the idea, market analysis, benefits and risk analysis.

Follow on fund

A Follow on Fund exists for exceptional projects with outstanding commercial potential which have been successful Proof-of-Principle projects. Typical investments are £100k or more, up to a maximum of £200k.

Investments are be treated on a case-by-case basis depending upon the particular circumstances, e.g. share subscription or convertible loan.

For more information on the Proof-of-Principle fund and Follow on Fund, please contact a member of your faculty team or send an e-mail to funding@umip.com