Manchester opens Innovation Factory

University of Manchester rebranded its tech transfer office on Friday to Innovation Factory with the aim of turning it into one of Europe’s most effective commercialisation units.
Previously known as UMI3, the Innovation Factory has built a new team and is developing new processes to bring innovations to market with a stated aim of generating between 15 and 20 spinouts per year.
The TTO will also look to markedly increase the number of licensing deals with industry.
To achieve its more ambitious goals going forward, the office has been restructured into four main functional groups: operations; business development; finance, legal and asset portfolio; and information and digital marketing.
The office will work with researchers across the university’s three faculties: biology, medicine and health; humanities; and science and engineering.
Andrew Wilkinson, who joined the TTO in late 2018, will continue to serve as chief executive. He said: “University of Manchester is a truly global institution, with a reputation for education and innovation that resonates across the world.
“The Innovation Factory has the responsibility to take the world-changing ideas and technologies that are created at the university and commercialise them to be used for the benefit of society as a whole.
“We are building a team, processes and a culture in the new organisation that focuses, above all, on creating positive social and economic impact. We are also looking to create new funding models to support translational research and new spinout businesses.”