University of Aberdeen
Braveheart signed a partnership agreement with the University of Aberdeen in June 2008. Under the terms of the agreement Braveheart provides funding to finance spin-outs and has the mechanism to fund projects leading to licensing deals arising from University IP.
The University of Aberdeen (the University) was founded in 1495 making it the third oldest university in Scotland and the fifth oldest in the UK. It educates close to 14,000 students and has attracted research awards of up to £50 million to date. The University has particularly strong commercialisation expertise in the areas of life science, medicine, engineering and geosciences and has been involved in a number of spin-outs including Brinker Technology, Haptogen and B1 Medical.
The agreement constitutes a 'two phased' approach: Phase one involves the two parties working together to stimulate and increase the commercialisation of IP within the University. Braveheart provides support in both financial and resource terms; funding is available via its existing Alpha EIS Fund, as well as private client monies. The total funding package is anticipated to be around £5 million.
Phase two of the agreement will involve Braveheart setting up and managing a dedicated fund or resource for the future commercialisation of University technology with funds being provided from Braveheart, the University and other sources.
It is anticipated that Phase one will last between two and five years, depending on the results achieved. Phase two is expected to have an initial investment period of five years with a subsequent follow-on investment and management period of five years, giving the agreement a total lifespan of 15 years.