Technology investor syndicate Braveheart has signed an agreement with the University of Aberdeen which will see Braveheart provide financial support to spin-outs and fund intellectual property (IP) projects, and in return be granted first refusal on any commercial investment opportunities that arise.
The plan involves two phases. Phase one, which is expected to last between two and five years, will see Braveheart and the university working together to increase IP commercialisation – funding will be drawn from the Alpha EIS Fund, along with money from private clients, up to a total of around £5m. Braveheart clients will also be made available to offer expertise to investee companies.
Phase two will involve Braveheart setting up and managing a dedicated fund for the future commercialisation of the university’s technology. This stage will have an initial investment period of five years with a subsequent follow-on period of five years, giving the agreement a 15 year lifespan.