We are pleased to report another successful year, with OUI making a contribution to all four academic Divisions of the University.

Oxford University Innovation contributes to the University’s mission of creating impact in the wider world by commercialisation of research and expertise. I am delighted to report another successful year marked by a number of changes that strengthen our offering and our role within all Divisions of the University and the wider entrepreneurial ecosystem.

The University’s Innovation Working Group gave added impetus to efforts to enhance collaboration between a number of groups supporting innovation, and led naturally to the most visible change for us – our name change. Our new name emphasises our close connection with the University and also reflects the work we do.

Having outgrown our premises in Summertown, the company moved to premises on Oxford’s Botley Road, with better facilities for meetings with researchers and our other constituencies.

Oxford’s achievements in creating new companies, and attracting significant investment to help them reach their potential, were recognised this year in articles from the Wall Street Journal, identifying the city as a global tech hot spot, and the Financial Times, which drew attention to the positive effect of patient capital in helping new ventures to become significant enterprises.

In March Tom Hockaday stepped down as CEO. Tom lead the company from 2006 and under his strong leadership the company grew and established an international reputation as a leader in the sector. Linda Naylor has ably lead the business in the interim since Tom left but she also is now retiring and hands over to Matt Perkins, who joined us to lead the business through the next chapter of its development. Our thanks go to Tom and Linda for their work in making OUI the business it is today.

Nigel Keen, Chairman

We have had an exciting year with a number of notable operational changes – including a name change, our move to new premises, the reintegration of the Spinout Equity Management team and a financial year that lasted for 16 months as we aligned our reporting with that of the University.

Our core mission – to provide a service to the University and its researchers – is unchanged. We are pleased to report another successful year, with OUI making a contribution to all four academic Divisions of the University.

The formation of Oxford Sciences Innovation, with a £350m (now £580m) investment fund to support spinouts from Oxford, addresses one of the key constraints to commercialising university IP. The step change in spinouts this year is evidence of the number of investor-ready ventures that Oxford’s world class research produces, well supported by OSI and other investors.

We look forward to making a continued strong and positive impact as we support our colleagues throughout the University by incubating ideas, licensing IP and facilitating consultancy for the benefit of society.

Linda Naylor, Managing Director (to April 2017)

Having joined the company in October 2016 I take none of the credit for the fantastic results reported here. They are a credit to the highly professional staff in Oxford University Innovation.

Looking ahead, I am convinced that, with the right support, greater economic and societal impact from university IP is possible. Neil Woodford, probably the UK’s most successful investor, has observed that backing our world-class science is crucial for the UK to hold its position as a centre of technological innovation. The team at OUI now looks forward to working with researchers, industrialists, government and others to ensuring that we achieve our full potential.

Matt Perkins, CEO (from October 2016)

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