Charles University Innovation Prague will have an annual budget of at least $135,000 over five years to establish spinouts and license IP.
Charles University has launched a wholly-owned tech transfer company (TTO) called Charles University Innovation Prague (CUIP) with Kr.3m ($135,000) in equity, Czech News Agency reported on Tuesday.
CUIP will form and assist Charles University spinouts. Charles University regards CUIP as a novel approach for Czech university venturing that will spur more effective tech transfer to commercial partners and the wider public.
In addition to equity, CUIP will receive an annual subsidy worth between $135,000 to $180,000 over five years from an existing university department, though it is not clear which department.
Charles University previously handled research-to-market affairs internally under the management of the Centre for Transfers of Knowledge and Technology (CPPT).
The university’s tech transfer turnover has more than trebled within three years, having hit $1.7m last year compared to $480,000 in 2014.
CPPT retains responsibility for providing legal support to researchers and formally securing patents, handing over to CUIP once projects have demonstrated commercial potential. The department’s deputy director, Otomar Slama, will act as executive director of CUIP.
CUIP’s responsibilities will include incorporating new spinouts and brokering licences. The first spinouts could include an unnamed tumour therapy developer and a video game company.
