Spin-out Review: Statement of Best Practice Adoption

Statement of full adoption of Recommendation One of the Independent Review of University Spin-Out Companies

The University of Derby welcomes the independent review of university spin-outs published in November 2023, aimed at accelerating innovation-led economic growth through university-grown spin-out companies.

The University has now fully adopted Recommendation One of the Spinout Review. 

The University reviewed its Intellectual Property (IP) policies in 2023, setting out a clear approach to supporting IP generated at Derby.

The University has fully embraced all the best practice from Recommendation One of the spin-out review and has further aligned its policies and practices for establishing spin-out companies within the newly developed spinout guide.

In response to the review, the University has:

• clarified the spin-out process by specifying more explicitly the different stages of forming a new spin-out company, including recognition of the need to ensure that decisions are not taken by a committee that meet infrequently
• provided guidance on time scales for setting up a spin-out to the point of operational independence
• specified that for IP, technologies and know-how generated in specific sectors, (e.g. life sciences, engineering or software) the equity taken by the University shall follow sector norms and market conditions, in alignment with the best practice in the TenU USIT Guide and the TenU USIT for Software Guide
• developed a suite of standard legal templates, including Heads of Terms, that can be used as the basis for all spinout formations    
• provided prompts to ensure that the split of equity shares between founders is considered

By aligning policies and procedures with sector best practice, the University will now be able to advance future spinout formations in an agile, streamlined and efficient way, which will offer full transparency for all parties.  This new approach will provide the University with the best opportunity to form successful spin-outs to drive new opportunities and new solutions.