Founded in 1986 as a wholly owned subsidiary of Imperial College, Imperial Innovations was one of the first technology transfer offices to be established in Europe. We are now a leading international technology commercialisation company based in the UK as well as one of the most prolific investors in early stage companies. Our business model comprises an integrated approach across the whole commercialisation process – a model which is greatly admired throughout Europe.
From 1986 - 1997
As opportunities flowed from the laboratories of Imperial College and commercialisation activity grew, Imperial Innovations transformed itself from an Imperial College department to a separate company, bringing on more dedicated staff with exceptional depth of knowledge and breadth of experience.
2000
Imperial company Turbo Genset floats on techMARK
2002
A partnership deal was signed by Imperial Innovations, Imperial College, Fleming Family & Partners Limited (FF&P) and Gordon House Asset Management Limited (Gordon House) creating a route for external investment in the growth of Imperial Innovations portfolio of companies. FF&P and Gordon House bought, on behalf of their clients, a 30% stake in a portfolio of 36 unlisted Imperial spin-out companies. In return Imperial College received a multi-million pound cash sum.
Nikko Principal Investments Limited establishes a £20 million co-investment fund
2003
Imperial Innovations wins its first external commercialisation contract to manage the Low Carbon Incubator. An initiative funded by the Carbon Trust, it seeks to accelerate the development and adoption of technologies to materially reduce carbon emissions.
2004
Ceres Power lists on AIM stock exchange
2005
The company incorporated every aspect of the business it is today but did not have the resources to invest. With the licensing and company incubation functions fully developed and the company existing independent of Imperial College, a strategy was put in place to include a new investment function to maximise the development of its portfolio companies. To fulfil this strategy, Imperial College successfully sold part of Imperial Innovations in a private placing to a number of financial institutions. This reduced the College’s holding to 71.9% and raised £20 million. Consequently, Imperial Innovations began investing selectively in opportunities within its portfolio –speeding up their process of formation, development and growth, whilst retaining a significant stake in the companies.
2006
In April the company was chosen by WRAP, the Waste and Resources Action Programme to provide commercialisation to recycling technologies through the launch of the Recycling Commercialisation Centre.
In July, the Imperial College Incubator opened, providing much needed laboratory and office space for early-stage companies.
As a result of the private placement in 2005, the company had the resources to invest in some of its more promising early stage and new spin-out companies. With the New Ventures and Investment Teams concluding a large number of investments, there was a need to increase the amount of money available for investment. Subsequently, the company decided to float on AIM stock exchange and on 31 July 2006 – the company was listed and successfully raised £26 million. It was the first public listing by a university-owned commercialisation company in the UK.
In September, Russ Cummings joins Imperial Innovations from Scottish Equity Partners as Chief Investment Officer and an Executive Director of the Board.
2007
Imperial Innovations is listed as second in a league table of venture capital deals by volume and third by value of deals. (Source Zephyr: the M&A database).
Having invested £13.1 million in 24 investment rounds in the first year of trading as a listed company (12 of these were led by Imperial Innovations) the decision was made to raise further funds. Therefore in October, with the support of existing institutional shareholders including Imperial College, the company was able to raise £30 million enabling it to continue to sustain the level of investments being made.
