With the aim of enabling also the Humanities and Social Sciences Divisions along with the Medical Sciences and Mathematical and Physical and Life Sciences ones which played a central role in creating the majority of their spinout companies, Oxford University, through its innovation arm Oxford University Innovation(OUI), is launching a programme to support the creation of social enterprises.
Dr Matt Perkins, Chief Executive Officer for Oxford University Innovation, said:
The social enterprise option opens the door to innovation for impact-driven staff across all divisions of the University, supporting both the serial academic entrepreneur and the researcher looking to make their first innovative steps alike.
In particular, academics will be able to receive support for creating businesses around ideas that perhaps aren’t inherently patentable and will have the option of creating spinout companies focused on impact. Through social enterprise, OUI will be able to offer a business model that is adaptable, dynamic and supports all academic Divisions equally.
OUI has already begun creating social enterprises, the first of which will be announced in the coming weeks. Prior to launch, OUI had built up a pipeline of over 25 social enterprises. Examples of some of the projects OUI will support include secure, cashless homeless donations app Greater Change and mobile and VR-based lifesaving emergency instruction platform LIFE. OUI has also created a £550,000 social and environmental impact fund, SE2020, to support the development and acceleration of social or environmental ideas towards real-world positive impact.
Find out more here.