Founders Choice

Basic Support Package

Founders Choiceâ„¢ Basic Support package

The Founders Choice™ options become available when Imperial Innovations and the founders jointly agree that a spinout company is the best route for both commercial and societal impact for a given technology (or bundle of technologies). 

Under the Basic Support package, founders of Imperial College London Spinout companies will follow the spinout process as usual. They must:

  • Dislose their invention to Imperial Innovations
  • Work with Imperial Innovations to protect relevant intellectual property
  • Come to a joint decision with Imperial Innovations about whether the technology is suitable as the basis of a new company

After these steps are completed, the founders will decide what level of support they require from Imperial Innovations.

Under the basic support package

  • Founders will receive between 90% and 95% of the equity at foundation in the new company
  • The initial University Equity position will be between 5% and 10% of the company's shares at formation
  • A clause will be added to the articles of association of the new company entitling Imperial Innovations' stake to an non-dilute provision (based on BVCA templates) up to a certain investment threshold
  • The investment threshold, initial equity holding and terms of the non-dilute clause will be decided on a case-by-case basis depending on the type of spinout
  • Founders will be provided with an equity modelling tool to help them understand different equity starting positions
  • Founders must finalise business plan, find investors and recruit management within 12 months of the decision on which Founders' Choice package they will use otherwise their option will lapse.

Download the Founders Choice Mini-Guide for further information

Contact us about Founders Choice

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