Satt Ouest Valorisation has provisionally landed $22.4m of French government funding in conjunction with strategic objectives including a cost-rationalisation exercise and the expansion of its geographical remit.
France-based regional tech transfer office Satt Ouest Valorisation is set to receive €20m ($22.4m) of funding as part of the French government’s third tranche of support for the France-wide Satt Network tech transfer initiative.
The grant has been awarded on a one-year probationary basis contingent on Satt Ouest Valorisation fulfilling four government recommendations for its activities going forward.
These include enhancing the performance of the TTO’s ventures with industry partners, to improve on the estimated 12% share of Satt-financed programs that currently reach the market.
Satt Ouest Valorisation will also be expected to rationalise the costs of its intellectual property portfolio. Ultimately it will aim to keep a lid on overheads without compromising its commitment to financing concepts with market potential.
The TTO is proceeding with plans to retool its regional offices to better fulfil the needs of its shareholders, which include ComUE l’Université Bretagne Loire, a university grouping representing 22 academic establishments.
The other shareholders are the French National Center for Scientific Research, the Institut de recherche pour le développement and public-owned financial services provider Caisse des Dépôts.
Satt Ouest Valorisation currently operates in six French regions – Rennes, Nantes, Vannes-Lorient, Brest, Le Mans and Angers. The TTO is consulting with the Brittany and Pays de Loire regions to expand its services into both areas.
