IP Group news 0

Invites applications for funding from existing businesses and entrepreneurs with early-stage technology

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or “the Company”), the developer of intellectual property-based businesses, is delighted to launch a £12m Investment Partnership  in Quantum Technologies having been exclusively selected for funding by UK Research and Innovation . The up to £6m of grant funding provided through the accelerator will de-risk and therefore enable matched equity investment into differentiated Quantum technology businesses with huge growth potential.

Applications are invited via email at [email protected] from existing businesses but also from interested academics/entrepreneurs who are yet to create a company.

The accelerator is funded through UKRI’s Commercialising Quantum Technologies Challenge – part of the Industrial Strategy Challenge Fund.

To meet the scheme criteria, a project must exploit second generation quantum techniques or direct supporting technologies. These are defined as the generation or clear control and manipulation of quantum states, resulting in superposition and entanglement (including single photon generation or detection, quantum computing hardware and software based opportunities  are all considered in scope) or those technologies which are critical to enable these techniques to become commercially viable and are on the direct critical path of second generation quantum product/service development.

The accelerator will run for a period of four years during which projects can seek grant funding up of £1m from the partnership. This will be matched by equity funding at an amount at least equal to the value of the grant, and all projects must be completed within a maximum of two years from the start date of the award. Dr. Manjari Chandran-Ramesh and Dr. Lee Thornton at IP Group will oversee the management of the scheme including the sourcing and evaluation of opportunities with input from UK Research and Innovation.

Dr. Manjari Chandran-Ramesh, Investment Director leading the Quantum portfolio within IP Group, said: “Quantum Technologies are theoretically the most powerful way to perform computations and this cutting-edge field has been an area of  interest to IP Group for many years. In the last decade, key technical progress has meant that the field is ready for commercial ventures to bring the technologies out of the lab and towards the mainstream. Furthermore, the creation and funding of Quantum Hubs has put the UK in a unique position worldwide and the accelerator will leverage this expertise to create bleeding-edge technology businesses. We very much look forward to growing our portfolio in one of the defining high-tech sectors of the next decade.”

Roger McKinlay, ISCF Challenge Director Quantum Technologies at UK Research and Innovation said: “We are seeing increased levels of market and customer interest in quantum sensing, imaging communications and computing.  Even relatively mature product offerings demand levels of investment which the public sector alone cannot meet.  I am delighted that IP Group have been selected as Innovate UK’s exclusive partner in the creation of this accelerator fund.  It is exactly what this emerging sector requires at this critical stage of its growth.”

IP Group has previously invested in hardware businesses such as Quantum Motion Technologies Ltd and Oxford Quantum Circuits where the team has been closely involved in building the businesses as evidenced by Quantum Motion’s recent £8m oversubscribed fundraising. IP Group is now looking to expand the portfolio, capturing opportunities across the board, from a full stack software solution to hardware and computing to encryption.

For more information

Please contact

IP Group plc	www.ipgroupplc.com
Greg Smith, Chief Financial Officer Liz Vaughan-Adams, Communications	+44 (0) 20 7444 0050 +44 (0) 20 7444 0062/+44 (0) 7979 853802
Charlotte Street Partners
David Gaffney Andrew Wilson	+44 (0) 7854 609998 +44 (0) 7810 636995

 

Notes for editors

About IP Group

IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

For more information, please visit our website at www.ipgroupplc.com.

About UK Research and Innovation

UK Research and Innovation works in partnership with universities, research organisations, businesses, charities, and government to create the best possible environment for research and innovation to flourish. We aim to maximise the contribution of each of our component parts, working individually and collectively. We work with our many partners to benefit everyone through knowledge, talent and ideas. 

Operating across the whole of the UK with a combined budget of more than £7 billion, UK Research and Innovation brings together the seven research councils, Innovate UK and Research England.