Independent report

ICURe: evaluation of pilot programme

Review by Ipsos MORI includes an overview of the programme, its effect on participants and the UK economy.

Documents

ICURe evaluation report

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ICURe evaluation report – Annex A – econometric analysis

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Details

Innovate UK commissioned Ipsos MORI to carry out an evaluation of the Innovation to Commercialisation of University Research (ICURe) pilot programme.

The evaluation had 3 objectives:

  • using a logic model, evidence the effects of ICURe to:
    • develop the entrepreneurial skills of participants
    • accelerate the commercialisation of ideas from academic institutions
    • create economic impact
  • quantify any impact from commercialisation of research and development via spin-outs, licensing activity or other routes to market, and explain how this was achieved
  • inform an evaluation of a national version of the programme

Findings include:

  • 78 teams benefitted from the first 6 rounds of the programme at an approximate cost of £8.9 million
  • at the time of evaluation, an estimated 24 spin-outs had been created, raising a total of £6.9 million in private equity finance
  • spin-outs employed an average of 3 workers and generated £86,000 in revenue by January 2017
  • the total present value of licensing agreements signed was £8.7 million
  • an estimated £3.94 of economic benefit was created for every £1 invested

Please note, these findings should be considered against other factors that may have over or understated the effects of the programme.

SETsquared, a group of institutions through which the programme was initially delivered, has produced a number of case studies for participating projects.

About the ICURe programme

ICURe was established in 2014 in response to a 2013 House of Commons Inquiry to improve the commercialisation of research from universities.

The pilot programme aimed to tackle barriers to commercialisation by supporting academic researchers to take commercially-promising research projects to market.

Published 10 January 2018