Provision of Legal Advice and Services for Launch-pad Programme - Falmouth University

Tender description

Launchpad is a graduate incubation and acceleration programme designed to build new high growth businesses to meet market demand in just 12 months. It is also an innovative method of graduate incubation as it is underpinned by a specially designed one-year (MA) Entrepreneurship programme, where setting up a new high growth business becomes the learning vehicle. This means students both build a new business and gain a Master's Degree at the same time. During the 12 month incubation period, the Launchpad participants have a student contract with Falmouth University. All IP developed during this time, belongs to Falmouth University. At the end of the incubation period it is normally envisaged (subject to approval by Falmouth Launchpad Investment Committee) that the students progress to be founders in a newly incorporated company (newco). This company will own the IP developed during incubation and in return a shareholding will be taken by Falmouth Launchpad Ventures Limited. The newco will then seek investment to allow it to bring the product to market and grow the business. Further information can be found here: https://falmouthlaunchpad.co.uk/ Launchpad is run by Falmouth University with funding support from ERDF, Cornwall Council and Research England. The current Launchpad programme has been running since 2017 and as such has a full suite of documents (student contract, articles of association, investment agreement, directors contract, IP assignment) in place. It is not envisaged to re-write these documents. As such, most of the work needed will arise as a result of particular events. Therefore this contract will be for a limited amount of upfront work and will focus more on the cost and advice that will be provided as and when needed. That being said, there are a few small pieces of work that have been identified as needing attention. Applicants are invited to tender for work supporting Launchpad on an as needed basis with initial tenders for the following three elements of the work. • 3.1.1 Change to directors agreement to accommodate part time directors / founders and any other associated changes to the investment agreement • 3.1.2 Revision to student contract (exact requirements still to be finalised on our side) • 3.1.3 Standard form employee option scheme for Launchpad portfolio companies