Oxford University Innovation Ltd’s total income for the 12 month period comes from sales turnover of £18.7m and the University subvention of £3.3m. Turnover is made up of Licensing & Ventures licensing income, Consulting Services income, Oxentia consulting income and Oxford Innovation Society membership subscriptions. The subvention of £3.3m was received for Licensing and Ventures project costs, invested primarily in the external costs of patenting inventions made by Oxford researchers. Other operating income includes an allocation of the University’s Higher Education Innovation Fund award to support Consulting Services and the Startup Incubator.
The University subvention, invested in external patents and other project costs incurred on Oxford technology transfer projects, does not support Oxford University Innovation staff costs. Administrative expenses are the costs of running Oxford University Innovation, including our staff costs, marketing and office expenses. Oxford University Innovation distributes income from Licensing & Ventures and Consulting Services to the University and its researchers according to the University’s rules; these outgoings are both included in ‘Cost of sales’ in the accounts. Oxford University Innovation pays a portion of its taxable profit to the University under gift aid.
Oxford University Innovation Ltd is wholly owned by the University of Oxford. Oxford University Innovation (Hong Kong) Ltd is a wholly owned subsidiary of Oxford University Innovation Ltd.
The comparative Group accounts for 2016 are for a 16 month period to 31 July 2016 as part of the adoption of FRS 102.
Spinout Company Shareholdings
Shares in Oxford University spinout companies established by Oxford University Innovation Ltd are owned by the University of Oxford, and not by Oxford University Innovation Ltd. They do not therefore appear in the Oxford University Innovation Ltd accounts either as assets on the balance sheet or as income from realisations of shares or the payment of dividends from shares. The total value of the University’s shares in its spinout companies at 31 July 2017 was £114m.
Oxford University Innovation Ltd owns minority shareholdings in startup companies which have been supported by the Oxford University Innovation Startup Incubator, valued at £3.1m in accordance with the International Private Equity and Venture Capital Guidelines.
Performance from 2000