Isis and Cosmos Technolgy Create a Technology Commercialisation Venture in Bulgaria

14 September 2009

A new venture has been established to identify, commercialise and secure funding for the most promising technologies from Bulgaria.

Cosmos Technology, an international commercialisation company, has announced it will collaborate with innovation-management specialist Isis Enterprise to build a core team of up to 15 technology transfer professionals, based in Sofia. The group will establish relationships with leading Bulgarian research institutes including the Bulgarian Academy of Sciences, Sofia University and government research groups.

It will assist these organisations to maximise the value of their intellectual property assets through collaboration agreements, identification of technologies that have commercial value and new business planning. Cosmos will also set up long term partnership agreements with a number of key research institutes.

Isis Enterprise is the external innovation consulting division of the University of Oxford’s technology transfer company, Isis Innovation. It has worked with clients from more than 40 countries, including corporates and governments, to accelerate the exploitation of knowledge from the local university research base.

Dr David Baghurst, Head of Isis Enterprise, said: “We plan to build a significant commercialisation business in Bulgaria which will be self-sustaining and attract venture investment. Technology will be commercialised through both spin-out and licensing, and the income will be shared with the researchers, institutions and companies.”

“Cosmos Technology is looking for technologies and research projects with global commercial potential, from Bulgarian academic and scientific institutions, and young technology companies.  An ideal technology is unique, can be protected from competitors and has at least one strong market application.  The ideal markets extend beyond Bulgaria to the rest of the world, are growing sustainably and will support annual product sales of €10m - €100m.  Finally, and most critically, the idea team needs to be committed to supporting the commercialisation of their technology.”

Julian Wheatland, Chief Executive of Cosmos Technology, said: “The strength that Isis brings is its strong track record of creating value from intellectual property and also its experience of working with academics and researchers to source and build technology businesses.”

Wheatland continued: “One of the exciting things about Cosmos is that it will look to create jobs and businesses that build upon the heritage of excellent Bulgarian scientific research. We will create opportunities to increase the skill-set of the people we work with and attract inward investment to the region.”

Isis Enterprise will manage initial technology transfer activities and set up the infrastructure, and training for Cosmos. It will also provide ongoing commercialisation support.

Dr Baghurst said: “The model we have used for Cosmos Technology has the potential to become a platform for commercialising technology from other Eastern European companies."

For more information:

Dr David Baghurst
E: david.baghurst@isis.ox.ac.uk
T: +44 (0) 1865 280858

Julian Wheatland
E: jwheatland@hattoninternational.com
T: +44 (0) 5602 143975

 

About Isis Innovation

Isis Innovation is the University of Oxford's technology transfer company and manages the University's intellectual property portfolio, working with University researchers on identifying, protecting and marketing technologies through licensing, spin-out company formation and material sales. Isis files on average one new patent application each week, has concluded over 400 technology licensing agreements, and established 64 new spin-out companies from Oxford. Isis also manages Oxford University Consulting, which arranges consulting services providing clients access to the world-class expertise of the University's academics to enhance innovative capability. Last year OUC arranged over 150 consulting deals. Isis has established a separate business division, Isis Enterprise, offering consulting expertise and advice in technology transfer and open innovation to university, government and industrial clients around the world. Isis was founded in 1987 and is today one of the world's leading technology transfer and innovation management companies.
www.isis-innovation.com

About Isis Enterprise

Isis Enterprise, established in 2004, is a division of Isis Innovation Ltd. It offers consulting advice in technology transfer and innovation management to clients from the public and private sectors, in the UK and internationally. Technology transfer includes the management of intellectual property and its transfer from university or corporate research to commercialisation. Innovation management includes processes designed to convert early stage ideas into real products and services.

Last year Isis Enterprise delivered consultancy assignments for clients in more than 30 countries and established a presence in Singapore to serve the Asian market.

About Hatton International

Julian Wheatland is the founder and Chief Executive of Hatton International, which manages Cosmos Technology.

Hatton International is a fast-growing finance and project development company specialising in cross-border and inward investment transactions, with a focus on international trade and economic development in emerging economies. Combining skills in financial structuring, technology transfer, deal execution and on-the-ground operating capability, Hatton is able to manage and deliver projects from conception to realisation. The company has successfully implemented projects in North America, South Africa, the Middle East and Eastern Europe.

Wheatland is an experienced financier and international project development expert. He was head of the International Division at the UK structured finance house, Consensus Business Group and a Managing Consultant at PA Consulting, where he was an authority on entrepreneurial venture development.