Where does Isis Innovation fit in?

Isis can help researchers to find and manage opportunities for consulting and services.  Specifically, Isis helps researchers and departments in these areas:

• Marketing the University as a resource for consultancy and service
• Negotiating better rates and terms than could be obtained by individuals
• Protecting researchers and departments from the liabilities of such work
• Reducing the paperwork surrounding consulting and service work.

Researchers are under no obligation to use Isis to assist in their consulting and services activities and using Isis does not replace seeking the necessary approvals under the University’s statutes and guidelines.  However, managing consulting activity is a time-consuming activity and individuals can be exposed to unattractive liabilities.  The support Isis offers to researchers is intended to reduce the amount of time spent on seeking consulting opportunities, and to assist with negotiating contracts, and to minimise personal liabilities.

Marketing

Isis actively markets the consultancy and services resources of the University to the business community in the UK and internationally.  This achieves two key goals: (1) Isis helps to generate opportunities for researchers; and (2) Isis provides a contact point for companies to identify the right researcher(s) in the University with the expertise to help their businesses.  Targeted marketing through networking events, working with the Business Liaison Managers based at Isis, conferences and the Oxford Innovation Society leads to new consulting business. Isis also uses its specialist searching skills and leads from researchers to identify potential commercial partners; prepares and distributes non-confidential marketing information; and follows up potential leads.

Isis maintains a database of researchers in the University who have asked to be considered for consulting business.  Isis is also aware of the full range of University research activity and approaches researchers when opportunities arise.

What Is Oxford University Consulting?

Oxford University Consulting (OUC) is the brand name which Isis uses to market the consulting and service expertise of the University and its researchers.  This is a powerful brand which helps attract businesses to approach Oxford for consultancy and service provision.

Negotiating

As a first step, primarily to prepare the scope of work, Isis will typically arrange a meeting between the client, Isis and researcher(s). This meeting is important to make sure that no party is raising the expectations of the other unreasonably.  An accurate scope of work (i.e. work to be done, deliverables etc) helps to achieve realistic costings.

The expertise delivered under consulting and service contracts is often of very high value to the client company.  Researchers should therefore expect an appropriate financial return for their time and expertise.  A key reason for Isis to be involved in consulting support is to avoid researchers providing commercially valuable advice for low fees.  Although there are no fixed rates for consulting because of the breadth of the expertise on offer, it is safe to say that a fee of less than £500 a day is rarely reasonable unless there is a strategic reason to accept the business at less than market rate. 

Protection From Liabilities

When, as a researcher, you enter into private consulting contracts you may be exposed to contractual liabilities which make you personally liable for the consequences of the work you do for your client.  The liability may well extend to other people’s use of the work you have done and over which you have no control.  Consulting contracts are often short in length and in time span, and individuals sometimes forget to consider key issues which can have long term consequences (e.g. restrictions on working in the same field and/or with other companies).  Using Isis creates an arms-length relationship whereby the contract is between Isis and the company, not with the researcher personally.  Isis arranges the appropriate personal indemnity insurance and negotiates the appropriate limitation of liability. Such limitations are normal in the commercial world.

Administration

There can be considerable administrative effort involved in running consulting activity which usually goes unpaid: rounds of sometimes complex negotiations; contractual drafting and correspondence; putting insurance in place; invoicing; debt collection; tax returns if the consultancy does need to use any University equipment.

How Much Does It Cost?

For all consulting contracts managed through Isis, Isis retains 15% of the amount invoiced to the client. After the charge of 15% is accounted, Isis then processes payments to individual members of staff through the University payroll.  There are no other charges and there is no up-front cost in Isis arranging consulting business for you.