The Fund exists to fill the gap between Research funding and commercial Venture Capital. It offers a source of finance to the academic communities of Bristol and Southampton Universities. The Fund provides 'Seed' stage investment capital.
The Fund was formerly known as The Sulis Seedcorn Fund which was the University Challenge Fund of the Universities of Bath, Bristol and Southampton from 1999 to 2008.
The following are areas for which the funds will typically be used;1. Evaluation and Risk Assessment
- establishing the potential of a project
- identifying areas of risk and uncertainty eg. Market surveys, IP analysis, Technical evaluation.
2. Refining Concept and Market Options
- technical / prototype development - critical experiments
- IPR protection / development - market analysis
- agreeing best commercialisation plan
3. Ensuring Effective Commercialisation
- advice in setting up appropriate structures. - development of business plans
- legal, financial and business advice - sourcing follow-on funds
- sourcing and negotiating with potential licensees
The overall objective is for the Fund to invest in a balanced portfolio, split between the establishment of spin-out companies and IPR/Licensing projects. The aim is to establish a sustainable Fund with returns coming from investment realisations and income from licensing royalties to replenish the fund.
Management of the Fund
The Wyvern Seed Fund is managed by SIM Ltd, a joint venture between The Universities of Bristol and Southampton.
