Imperial College London has opened a new funding stream for its early-stage research with the launch of its Parkwalk Advisors-managed Innovation Fund.
Imperial College London yesterday unveiled a venture fund of undisclosed size to back knowledge-intensive projects from its research ecosystem under the management of Parkwalk Advisors.
Imperial’s Innovation Fund will invest under the UK’s SEIS tax benefit program in faculty and student-founded business as well as projects otherwise related to the university’s R&D pipeline.
The fund will enter early-stage rounds, supplying follow-on capital where applicable and seeking match funding from external backers and grant award bodies.
Innovation Fund’s investment focus includes medicine, biochemistry and genetics, but the vehicle will also target non-healthcare research, in areas such as engineering, quantum computing, materials and data science.
Imperial regards university spinouts as a “unique” early-stage investment because they are based on well-protected intellectual property informed by years of academic research.
The university’s spinout tally has doubled over the past five years, with the combined portfolio attracting around $1.1bn in funding within that timeframe.
High-profile Imperial exits have included UK-based computer graphics testing spinout GraphicsFuzz’s acquisition in mid-2018 by diversified technology conglomerate Alphabet’s Google unit, less than a year after the spinout was established.
Innovation Fund is the latest UK spinout-focused fund managed by Parkwalk Advisors, part of commercialisation firm IP Group. It joins earlier Parkwalk vehicles sponsored by the universities of Oxford, Cambridge and Bristol.
Ian Walmsley, provost of Imperial College London, said: “Imperial’s thriving entrepreneurial ecosystem is unrivalled in the UK. Our staff and students are founding companies that move markets, disrupt industries, and address societal challenges.
“We are immensely proud of the economic and social impact they deliver for the world. This bold step will offer new ways for investors to engage with Imperial’s groundswell of entrepreneurial talent, while amplifying the impact of our work.”
