Remit and Membership of the SBVG
The University Court agreed to a new policy relating to company spin-outs in May 2008 and as part of that policy agreed to the creation of the Strategic Business Venture Group to have the devolved authority of the University Court, via Operating Board (or its successors) with the following remit:
- To make the final decisions surrounding the creation of spin-out new companies;
- To be responsible for the monitoring the University’s investment in spin-out and subsidiary companies;
- To make the final decisions relating to any sale of equity in spin-out and subsidiary companies;
- To recommend to the University of distribution of any Net Income generated as a result of the sale of equity, along the following principles;
- a proportion will be available for non-founding staff inventors as agreed at the time of forming the spin-out
- a proportion to be made available to the College(s) from where the activity arose, subject to approval of any proposed activity using the proceeds
- and the remaining to be retained and managed centrally for strategic purposes proposed by SBVG, including support for further commercialisation activities.
- Senior Vice-Principal (Convener) or another Vice-Principal
- Another Vice-Principal (currently Vice-Principal and head of College Life Sciences and Medicine and Digital Strategy)
- Director of Finance
- Director of Research and Innovation
- Up to two additional members as nominated by the University Court (currently Mr Ian Suttie and Professor Jan Skakle)
The SVBG meets three to four times per session and reports to the Operating Board annually.
Administrative support is provided by Research and Innovation and clerk is Dr James Duncan