IP and Commercialisation
beLAB1407 has been established to fuel the creation of new spinout companies based on innovative science, and this will be the preferred route to commercialise the outputs from funded projects. Spinouts based on the results of beLAB1407 awards will be established based on an equity and IP license framework agreed by the partners, applicable across all participating universities.
Applicants should work with their technology transfer office (TTO) to identify any relevant background intellectual property controlled by the university that would form part of a package of IP to be licensed to a spinout, based on results of a beLAB1407 funded project. It is expected that, subject to any 3rd party rights, Background IP will be included in any such package, as far is it is needed to enable exploitation of arising IP from the project.
Where a new spinout company is formed based on beLAB1407 results, academics will benefit from founding equity and/or a share of revenues generated under the IP licence.
Should the beLAB1407 partners ultimately no longer pursue the project then the originating academic will be free to commercialise and develop the assets further.