Business and management consultancy and related services

Tender description

Newcastle University has developed an innovative and potentially disruptive technology designed to overcome limitations in existing train braking systems particularly in periods of low adhesion. Thework is led by Newcastle University along with industry partner Reece Innovation. The proposal is to set up a spin out company to take the technology through the next stage of pre-commercial development, regulation and supply. The person appointed to lead the company formation and development will have experience in business start-ups, marketing, innovation and fund raising. They would preferably have experience in an industrial sector and engineering industries, including new product development and first market introductions. Newcastle, Durham, Sunderland and Northumbria universities, in common with universities throughout the UK, have advanced relevant systems and procedures and also dedicate significant public resource to both research and commercialisation of that research. A key route to commercialisation is the creation of a new business (a spin-out company) wherein the intellectual property (IPR) developed exclusively licenced to a university start-up company in exchange for (founders) shares in that company. The universities ill engage suitably qualified and experienced executives through the DPS as and when required over the DPS period. The specific requirements will be detailed in each further competition. The initial brief of the executive for which he/she will be paid, dependent upon the scope of the specific project engagement sought, either a payment or a combination of a payment and a share/stock option will typically be to: (a) produce a viable business plan; (b) obtain university approval for the venture; (c) act for the company in the spin-out legal process and address all the company formation matters; (d) provide to the appropriate university all matters necessary for ESIF and Research England reporting requirements; (e) secure (venture capital and/or other) funding in accordance with the business plan.