Business and management consultancy and related services

Tender description

Plastech Innovation, the first student spin-out from Durham University has a patent pending technology to transform waste plastic into plastic aggregates for use in concrete and other construction materials. Its technology is a market-disruptor, enabling construction companies to partially replace sand in traditional building materials, primarily concrete. Our plastic aggregate reduces CO2 emissions from plastic waste incineration, the transportation of heavy natural aggregates and provides a solution to global construction-grade sand and lightweight aggregate shortages. It also provides additional socio-economic and environmental benefits. The Plastech team is made up of three co-founders who have left academia to run the company, Natasha Boulding, CEO, Phil Buckley, COO, and Scott Bush, CTO. They have expertise in STEM and were all PhD researchers at Durham University. Plastech also has two non-executive directors, Dr David King, an ex-senior executive in the chemical industry and Professor Lian Hutchings, a professor of polymer chemistry. Durham University are looking for an advisor to work with the Plastech Innovation team to help them to make the transition from early stage University spinout to commercialisation. This will entail tutoring, advising upon key stages of business plan drafting, commercial strategy development, feedback on investment materials (pitch presentations and the like), and suitable financial plans, models and timelines. From that perspective, we will be looking for an individual with experience in start-ups/spin-outs development and to have experience raising finance. Moreover, experience in the construction/manufacturing/concrete industries and scale-up is highly requested. 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 licensed 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.