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Who can get help from WestFocus Business Creation?
Our support for commercialising technology and know-how developed in universities is open to academics and members of staff from any of our Member institutions.
The Virtual Company Scheme is also open to academics but is more tailored to the needs of individuals, inventors and very early stage businesses that currently work outside of any university.
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What types of projects are suitable for WFBC support?
Essentially we are looking for good quality, realistic commercial opportunities with a sound intellectual property underpinning, significant market potential and a real competitive advantage compared with incumbent technology. The WestFocus funds enable support of very early stage ventures.
No technical areas will be excluded, although there is a focus on manufacturing design and materials, ICT, life sciences, environment and sustainability, creative industries and social inclusion. These subjects have been selected according to the capabilities and strengths of the Consortium members as well as the priorities for the region that have been determined by our Partners, including the Regional Development Agencies.
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What does WestFocus expect in return?
WestFocus is a long-term strategic initiative – with ambitious goals and targets. Our investment in your project needs to earn a return – but only when successful exploitation has been achieved. Our stake might come via an equity holding, from royalties or some other mechanism depending on the exploitation strategy and the particular project circumstances. These terms are expressed clearly in the offer letter you would receive prior to the release of any funding.
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How do I get involved?
First please browse the pages of this website to confirm that WFBC is for you. Review carefully the types of questions we ask (assessment criteria) and if you still feel you have an idea, innovation, invention and / or intellectual property with strong commercial potential, contact your designated Commercialisation Manager (if you belong to a WestFocus Member institution) or The Virtual Company Contact (if you are not from an institution) ...>>>
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