London South Bank University (LSBU) welcomes the Independent Review of University Spinouts and supports its best practice guidelines, which align well with our existing policies. We are committed to fully adopting these recommendations to enhance our innovation framework and drive the development of successful spinouts and commercialisation.
We strongly support the Independent Review of University Spinouts' recommendations. At LSBU we support innovation by adopting policies and terms developed collaboratively with investors and founders. We aim to create a unified template for spinout agreements, ensuring efficiency and clear expectations between founders and the University. We also promote fair equity distribution among founders, recognising both IP contributions and the efforts required to advance the spinout.
In line with the Review and to support a more streamlined approach to spinout creation, LSBU already delegates approvals for standard spinouts to trusted individuals rather than infrequently meeting committees. To further improve our spinout processes, LSBU will adopt the recommendation to clearly establish expected timelines for each stage of the spin-out process for both the university and founders, this will also be supported with training and guidance on the process delivered by Research and Innovation Services.
Our spinout terms and processes are regularly updated to align with sector best practices. We plan further reviews to incorporate the USIT for Software Guide, acknowledging the importance of supporting IP development across various domains. This commitment underscores our dedication to fostering innovation and academic-led spinouts.