Coventry University, in collaboration with Birmingham City University and the University of Wolverhampton, has secured significant funding from UKRI Research England to launch an initiative that could redefine how universities translate research into thriving businesses.
Known as DigiSpin WM, it will focus specifically on the advanced manufacturing and digital innovation sectors within the West Midlands Investment Zone. Another initiative of the West Midlands Combined Universities (WMCU) collaboration it will see the universities work together to drive economic growth and innovation across the region.
This six-month pilot programme, set to launch in November 2024, will look to create a dynamic ecosystem where innovation flourishes and spin-out companies thrive. DigiSpin WM is poised to become a national blueprint, empowering universities across the UK to accelerate the commercialisation of their research and drive economic growth.
The West Midlands is a hotbed of research talent, but groundbreaking discoveries often struggle to break free from university labs and reach their full commercial potential. DigiSpin WM aims to change that.
One example would be of a researcher developing a revolutionary new advanced manufacturing process with the potential to transform an industry. DigiSpin WM aims to provide access to the expert guidance, streamlined processes, and crucial resources needed to turn their idea into a thriving business, creating jobs and boosting the regional economy.
DigiSpin WM will focus on tackling the common challenges that hinder university spin-outs head-on, including:
• Fast-track to Market: Streamlining the process of turning research into a commercial product or service.
• Intellectual Property Protection: Expert guidance on securing and managing intellectual property rights.
• Investor Ready: Developing strong business plans and attracting investment.
• Collaboration Power: Connecting with industry partners and sharing knowledge to boost innovation.
It is hoped the impact of DigiSpin WM will extend far beyond the individual researcher – its aim is to create a ripple effect that benefits the entire region and the UK. The goal will be:
• More Spin-outs: Helping researchers launch successful businesses based on their discoveries, both within the West Midlands and beyond as the model expands.
• Economic Boost: Creating new jobs and driving growth in the West Midlands, with the potential to stimulate economic development in other regions as the initiative is adopted more widely.
• Stronger Networks: Connecting universities and industry to boost innovation, fostering a collaborative ecosystem that can be replicated across the country.
• Attracting Investment: Making the West Midlands a hotbed for investors seeking cutting-edge technology, and ultimately positioning the UK as a global leader in university spin-out success.
Albi Lamaj, IP Associate Director at Coventry University, said: “DigiSpin WM represents a new era of collaboration across universities in the West Midlands.
“I’m incredibly excited to be working with Birmingham City University and the University of Wolverhampton to combine our efforts and build a future where innovation can flourish, and technology can reach the market with greater speed and efficiency.”
Albi is particularly excited about the potential for this initiative to empower researchers and drive economic growth in the region, especially by incorporating best practices from the USIT Guide to streamline spin-out and investment processes.
Wayne Langford, Director of West Midlands Combined Universities, highlighted the regional impact, saying: “This collaboration continues to demonstrate our region’s unwavering commitment to innovation and economic growth. DigiSpin WM will be instrumental in ensuring that our universities’ groundbreaking research translates into tangible outcomes, benefiting both the local economy and the global market.”
Professor John Latham CBE, Vice-Chancellor and CEO of Coventry University Group, said: “DigiSpin WM has the potential to leave a lasting legacy on the advanced manufacturing sector, not only by helping universities spin out their technologies but also by ensuring these innovations contribute to the long-term prosperity of the West Midlands.”
This Research England-funded pilot programme seeks to answer a critical question: can technology transfer offices (TTOs) be effectively shared across universities? DigiSpin WM will explore this question by building on the existing WMCU collaboration and establishing a collaborative model for Coventry University, Birmingham City University, and the University of Wolverhampton.
Professor Dame Jessica Corner, Executive Chair of Research England, added: “We received an exciting range of proposals to our Connecting Capability Fund (CCF) programme call for pilots of diverse, innovative models of sharing. These pilots will provide value-for-money insights, helping us deliver on the economic growth agenda and address financial sustainability pressures on higher education.”
Recognising that each university has its own unique strengths and established processes, DigiSpin WM aims to complement and enhance these existing capabilities through knowledge sharing, streamlined processes, and a focus on collaborative innovation.
Over the next six months, the pilot will not only investigate the feasibility of a shared TTO model but also explore its potential to create a scalable and replicable framework for universities across the UK. This collaborative approach seeks to empower universities to maximise their impact and contribute to economic growth through successful spin-out creation.
