The University of Manchester, considered one of the top rated research centres in the UK, has signed a commercialisation agreement with tech transfer development firm IP Group.

Under the agreement, the IP Group will make a £5m ($7.58m) “proof of principle” funding facility available for the identification and formation of spin-outs from the Russell Group University. In exchange, the IP Group will receive equity stakes in new firms and the right to invest in later funding rounds. In addition, the IP Group will make available to Manchester spin-outs its pool of experts, networks, and business support.

Manchester is one of the UK’s major research universities, rated third in the country in ‘research power’ behind Oxford and Cambridge University in a 2008 Research Assessment Exercise. As well as designing the world’s first stored-program electronic computer and aeroacoustics, the University is now also the home of the National Graphene Institute, which received…

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