£2.5m investment boosts ULive plans

Jun 18 2008 by Tony McDonough, Liverpool Daily Post

A FIRM set up to commercialise intellectual property generated by the research activities of University of Liverpool has received a £2.5m investment.

Alliance Fund Managers (AFM) has put in the cash to ULive through the Merseyside Special Investment Fund Liverpool Seed Fund.

The University will now transfer all existing and future IP rights to ULive for a minimum period of 15 years, enabling the company to exploit the IP through the development of spin out businesses, and the licensing and sale of technology.

This latest funding follows an initial investment of over £1.5m by the University. The Liverpool Seed Fund will take a 25% stake in the business and the University will retain the balance.

ULive, based at the Liverpool Science Park, was originally formed to hold and manage the portfolio of spin out companies created by the university.

Now the company is responsible for the identification, protection, maintenance and commercialisation of all IP owned and created by the university.

Run by chief executive Alan Sibley, ULive is now looking to expand its resources and will be recruiting a further four staff in the next month.

Mr Sibley said: “ULive’s business plan is focused on the identification and commercialisation of IP from within the university.

“The additional funding provided by the Liverpool Seed Fund investment will allow the company to accelerate its activities, generate more income and create increased value for the benefit of all the stakeholders including the academics.”