Alta Innovations Ltd, the technology transfer company for the University of Birmingham, announces it has changed its name to University of Birmingham Enterprise Ltd.
There will be no changes of staff and the renamed company, University of Birmingham Enterprise Ltd will continue to provide the services of Alta Innovations, including IP, licensing, and the Academic Consultancy Service.
The new name is identical to the name of the University directorate which provides end to end support for academic innovators, enterprise training and spinout development, and is responsible for management and operation of the BizzInn and BioHub incubation services and facilities at the Birmingham Research Park.
The directorate also manages the University funds that bridge the gap between research funding and commercial investment, and provides start-up incubation services that are available to both academics and SMEs in the Birmingham area.
The incubation services have undergone a rapid expansion in the last few years and now make a pivotal contribution to entrepreneurs in the hi-tech and life science sectors.
Birmingham’s flagship bioincubator, the BioHub® Birmingham, which opened in 2015, provides a unique offering for early-stage life science companies who want to locate in the Birmingham Research Park. In the last two years it has filled to capacity, and attracted a significant number of enquiries from overseas companies with an interest in relocating to Birmingham. The BioHub will develop a further floor of laboratory and office space in 2018 in response to this growth in demand.
The BizzInn business incubator opened in 2013, and has since provided over 1,250 hours of business support to over 200 businesses. In the last year alone, the BizzInn has helped create 25 new businesses, including several that will create sustainable employment in the region.
Dr James Wilkie, CEO of University of Birmingham Enterprise, commented: “The company has shown consistent high performance in identifying and commercialising intellectual property that arises as a result of research at the University. In the last three years it has launched 7 spinouts in hi-tech sectors, and many of these remain will remain in Birmingham and act as a focal point for venture capital interest, which is vital for the region’s growth. We have had a great deal of success and felt it was the right time to change the name and make it clear we operate on behalf of the University of Birmingham.”