Making a proposal to Wyvern...

Process of Application

In the first instance contact your University technology transfer department to discuss your idea. (Bristol - Research and Enterprise Development, Southampton - Research and Innovation Services)

Further to that an informal discussion with the Wyvern team will be arranged. If your idea or innovation is seen to have commercial potential, a plan of action will be agreed with you to develop your proposal further (if required).  Once Wyvern is satisfied that sufficient information exists to make a good case for an investment, you will be invited to prepare a formal proposal.

For all investments above £15k, the Wyvern team prepares a full investment proposal for discussion by the Wyvern Investment Review Board, drawing on the information submitted by you and the University together with the results of any expert advice obtained during the process of developing and assessing your proposal. You and the University will be required to agree the final investment case, including proposed investment terms, prior to submission to the Investment Review Board.

For investments below £15k the Wyvern team will outline any further information that may be required to reach a decision and agree investment terms. These proposals will not go to the Sulis Investment Board.

Rules of the Fund

The University Challenge Fund Steering Committee that provided the funds made the following rules for investments;

  • Maximum Investment in any one project is normally £250k
  • The applicant can be anyone from the academic, non-academic staff or student population of the Universities of Bristol or Southampton.
  • Investments cannot be to existing companies.

Selection Criteria

The Management Board of Wyvern Seed Fund has agreed a set of Selection Criteria for investments made by the Fund, as follows:

In the case of a project which may lead to a spin-out opportunity or Business Start-Up:

  1. The project has a strong "Technology " or IP base.
  2. The products or services arising from the project would be able to sustain competitive advantage over time in the markets identified.
  3. There is a strong business leader/entrepreneur associated with the project.
  4. Growth and business development opportunities are clear.
  5. The project is at the 'Seed' stage of development.
  6. The formation of a company has significant advantages over alternate commercialisation routes.

In the case of an IP/Licensing/collaborative project:

  1. The innovation has clear commercial applications.
  2. The ability to protect the intellectual property is secure.
  3. The key people are motivated and have a sound background.
  4. The commercial opportunity is of a size and potential that warrants the initial investment.

Additional general issues which will be considered include:

  1. Ethical issues
  2. Environmental and social impact

The non-financial returns to the University such as raised entrepreneurial awareness, encouragement of a commercial culture, the establishment of real future potential for strategic alliances and the access to unique competencies or facilities.