It will also connect spinout founders with professional service providers, industry, potential collaborators, investors and regional innovation sites and spaces.
‘Forging Links’ was launched at The National Automotive Innovation Centre, based at the University of Warwick. Founders and commercialisation team members had the opportunity to network with their peers across the Midlands and celebrate the commercialisation of research in the region.
The NAIC is a partnership between Jaguar Land Rover, Tata Motors, Warwick Manufacturing Group WMG, and the University of Warwick, brought to life through the vision of the late Professor Lord Bhattacharyya and the late Mr Ratan Tata, alongside many others across this outstanding ecosystem. This is an exciting next step in further helping connect our regions innovation, research and drive more impact in terms of funding, jobs and making a difference in peoples lives.
Rhianna Briars provided an overview and update on what the team has been working on with partners and spinouts, and talked through the different ways people can get more involved.
An inspiring fireside conversation where we heard from Magdalena Karlikowska, CEO of Cytecom; Joe Healey, founder and CTO of NanoSyrinx; and Matthew Ogley, founder and director of ENV Energy. They shared their insights with Tim Hart, Director of Warwick Innovations.
Tim hosted an open conversation asking the business founders what motivated them to choose the spinout route when other, potentially simpler routes are available. The discussion also explored how universities and commercialisation teams support spinout growth, while acknowledging that the different pace at which startups and universities operate can sometimes create challenges.
Attendees also heard the perspectives of two regional investors – CEO of Midlands Mindforge Lisa Smith and Head of Minerva Business Angels Luke Pulford.
For Lisa, it is exactly because the potential of Midlands spinouts is so vast, with the region being a leader in many scientific fields - that the funding currently being raised needs to match that potential.
She explained how the ecosystem now needs to lean into that positive narrative that Midlands-made science is leading the way nationally.
Luke Pulford discussed how, for the Midlands to succeed, investment needs to be more normalised and embedded in the region, using an analogy that Dragons' Den has warped people's perceptions about what it is angel investors really do. He also shared insights into how founders can engage with angel networks and how their shorter funding rounds can supply growing spinouts with the capital they need more quickly.
A key message stood out above all: the importance of celebrating the successes of Midlands spinouts and their founders. That is something Forging Ahead - and now through Forging Links - is set up to do, funded by Research England and partner universities.
Forging Ahead Project PI Dan Parsons said:
Forging Links has been established through the Forging Ahead project to meet a clear need: to better connect the fantastic founders working across the Midlands’ rich but somewhat fragmented innovation ecosystem.
By creating a space for founders to share experiences, open up conversations and forge new connections, the network will play an important role in helping more spinouts start, scale and stay here in the Midlands.
Tim Hart, Director of Warwick Innovations said:
The most powerful asset that we have is collected together right, right now. I am a strong believer that you get out of an ecosystem what you put in.
And that is at the heart of what will make the Midlands ecosystem go from good to even greater.
Forging Ahead Network Manager Rhianna Briars said:
Being a spinout founder comes with unique challenges as you balance research and academic duties with the pursuit of setting up an IP-rich business.
The purpose of this network is to provide spinout founders with the support system to navigate this and the vital contacts they need to unlock new opportunities.
Spinout founders and those currently on their commercialisation journeys can sign up for Forging Links here - Forging Links | Midlands | Registration Form
For those in the wider ecosystem, you can sign up to our mailing list here.