Space Audit Systems has been founded on University of Wolverhampton intellectual property to market software that formalises the process of auditing space usage.
Space Audit Systems, a UK-based developer of software for monitoring academic building utilisation spun out by University of Wolverhampton, has obtained £80,000 ($102,000) in an inaugural round backed by the university.
The round also featured Caparo Angad Paul Fund, a vehicle set up by diversified engineering products group Caparo to support the advancement of University of Wolverhampton’s research.
Founded in November 2018, Space Audit Systems hopes to commercialise specialist software that helps audit the utilisation patterns of spaces in public university buildings.
Under a UK statutory requirement, universities must audit the utilisation of all venues in their estate to help justify their central government subsidy. Such information can also help institutions plot the development of new buildings.
The idea for Space Audit Systems came from Nathan Leadbetter, a University of Wolverhampton graduate in computer science who now works in the university’s registry department, where his job duties include taking space audits.
Leadbetter argues a software-led approach would improve on the tendency to rely on university students for the audits, which leaves the quality of the data collected open to question.
He said: “From my experience of working to solve this problem, and talking to my opposite numbers at other universities, I know that the software we have developed is a great step forward. It is fantastic to have been given this opportunity to prove the commercial potential.”
