UMIP appoints Dr. Krishnamurthy Rajagopal as its new Chairman
The University of Manchester’s award-winning Intellectual Property commercialisation company (UMIP) is pleased to announce the appointment of Dr Krishnamurthy Rajagopal as its new Chairman.
Raj will commence his role on 1 May 2010. An alumnus of The University of Manchester, Raj completed his MSc in 1975 and his PhD in 1980 and has considerable experience of world-class manufacturing, engineering and technology; he is currently a non-executive director at: Bodycote plc, Spirax-Sarco Engineering plc, WS Atkins plc and is Chairman of HHV Pumps Ltd, a private company based in Bangalore, India. His appointment follows an international search exercise by the UMIP Board, advised by headhunters Odgers Berndtson.
Raj is a member of the Council of Science and Technology, the Prime Ministerial advisory body, and plays an active role in Government science and innovation policy and is an Audit Commissioner. He is also an advisory board member at the Centre for Business Research at the University of Cambridge and was awarded an Honorary Doctor of Science degree by Cranfield University in 2004.
Over the last five years, UMIP has set up 20 spin-out companies employing several hundred people whose annual combined sales turnover is £17M and has concluded 150 new licences and assignments. In 2009, UMIP won two awards for the commercialisation of new technologies from The University of Manchester: a PraxisUnico Business Impact Award and Technology Transfer Office of the Year Award which was presented at the annual Genesis Biotech Conference.
Raj commented: “I am very pleased to accept my new role at UMIP. The University already has an excellent track record in innovation and entrepreneurship, with many successful spin-out companies and a healthy and developing licensing business; I am looking forward to helping to raise the University’s outstanding reputation for entrepreneurship further.”
Clive Rowland, UMIP’s CEO, said that he was delighted that Raj had agreed to accept the appointment. “We are very much looking forward to working with Raj and I am sure that Raj’s appointment and contributions will be an important step in and big benefit to UMIP’s development on its path to 2015, and beyond.”
Raj takes over from Peter Sanderson who will retire from UMIP at the end of April, having served the maximum of two full terms of three years for a non executive Chairman. Peter co-founded the company with CEO Clive Rowland during the summer of 2004.
Notes for editors
Please contact Clive Rowland, CEO. 0161 603 7751 or Jon Keighren, Media Relations Manager, The University of Manchester, 0161 275 8384
Notes to editors:
Until April 2008, Raj was a non-executive director of Foseco plc and in January of this year, Raj also stepped down from the Board of Dyson Group plc (a company engaged in the development and commercialisation of high-performance materials for applications in demanding environments, with considerable emphasis on new product development).
Previously Raj worked at the BOC Group plc for 26 years with his career at the company culminating with his appointment as Chief Executive of BOC Edwards and Executive Director of BOC Group plc in 2000. He started at BOC in 1981 as Manufacturing Systems Manager with Edwards High Vacuum and then progressed through various other roles including General Manager of UK Manufacturing, Operations Director and Managing Director before being appointed as Managing Director of the Vacuum Technology Division.
The University of Manchester Intellectual Property Limited (UMIP) is the managing agent of The University of Manchester for intellectual property commercialisation. UMIP's role is to enhance the reputation of the University's intellectual property development through successful spin-out and licensing business activities.
UMIP consists of faculty oriented business management teams backed up by a central corporate office which provides company secretarial, marketing, legal and financial expertise.
Its activities include:
· Manages Intellectual Property on behalf of the University.
· Identifies, protects and evaluates the commercial potential of research from all faculties.
· Commercialises Intellectual Property via the most appropriate route: sale, licence or spin-out.
· Holds the University's patent budget and manages its Proof of Principle awards and provides access to spin-out investment funds via The UMIP Premier Fund.
· Has access to an extensive network of industry experts, professional advisers and investors.
Since its inception in October 2004, UMIP has set up sixteen spin-out companies, concluded over 80 licence deals and raised more than £130 million in investment capital. It currently has over 100 projects in its portfolio at various stages of development. A number of the spin-out companies have received national and regional enterprise awards.
In 2009, UMIP won two awards for the commercialisation of new technologies from The University of Manchester: The PraxisUnico Business Impact Award and Technology Transfer Office of the Year Award which was presented at the annual Genesis Biotech Conference.
UMIP is wholly owned by The University of Manchester and has over a 20 year history of IP commercialisation and is a limited company of over 35 employees.