Turning IP Ideas Into Business Opportunities

Client

The University of Leeds

Category

Research & Development

Duration

6 months

Commercial space in common

The Innovation Commons is a commercial ‘space in common’, where UK universities, business consultants and forward-thinking investors come together to share ideas, opinions, expertise and resources on brand-new technology innovations and under-exploited intellectual property (IP), and create effective collaborative business opportunities. IP creators, such as universities and SMEs, can test their early-stage ideas at minimal cost, using the wisdom of our approved commercial crowd to learn which are the best opportunities for development and exploitation.

Goals:

  • Increase the income generated from licensing of knowledge and IP
  • Help identify IP ideas that will convert into real business opportunities
  • Help the IP creator define which IP to focus on reducing the the risk of project failure
  • Match good ideas and IP with entrepreneurs/consultants that can exploit good opportunities increasing the number of projects that get to market
  • Increase the amount of external finance received to fund opportunities

I've seen the community deliver results here and elsewhere. The approach led to a significant increase in activity and income here at Leeds.

Dr. Tim Whitworth, IP & Commercialisation Manager at the University of Leeds
Innovation Commons

Results

  • Online community

    An online community for IP creators, SMEs, investors and consultants to collaborate on early stage ideas and IP

  • Online market place

    An online market place for IP creators to test early-stage ideas with a commercial crowd, quickly and easily researching the commercial value of projects before valuable time and resource are wasted

  • Voting/rating system

    Crowd based voting/rating system to define the best idea

  • Easy connections

    An online community for IP creators to connect with business angels and other funding networks who can provide resource for projects

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