Isis and Cosmos Technology Create Venture in Bulgaria
14th September 2009
A new venture has been established to identify, commercialise and secure funding for the most promising technologies from Bulgaria.
Isis and Cosmos Technology Collaborate
Cosmos Technology, an international commercialisation company, has announced it will collaborate with innovation-management specialist Isis Enterprise to build a core team of up to 15 technology transfer professionals, based in Sofia. The group will establish relationships with leading Bulgarian research institutes including the Bulgarian Academy of Sciences, Sofia University and government research groups.
It will assist these organisations to maximise the value of their intellectual property assets through collaboration agreements, identification of technologies that have commercial value and new business planning. Cosmos will also set up long term partnership agreements with a number of key research institutes.
Isis and Cosmos Technology
Isis Enterprise is the external innovation consulting division of the University of Oxford’s technology transfer company, Oxford University Innovation. It has worked with clients from more than 40 countries, including corporates and governments, to accelerate the exploitation of knowledge from the local university research base.
Dr David Baghurst, Head of Isis Enterprise, said: “We plan to build a significant commercialisation business in Bulgaria which will be self-sustaining and attract venture investment. Technology will be commercialised through both spin-out and licensing, and the income will be shared with the researchers, institutions and companies.”
“Cosmos Technology is looking for technologies and research projects with global commercial potential, from Bulgarian academic and scientific institutions, and young technology companies. An ideal technology is unique, can be protected from competitors and has at least one strong market application. The ideal markets extend beyond Bulgaria to the rest of the world, are growing sustainably and will support annual product sales of €10m – €100m. Finally, and most critically, the idea team needs to be committed to supporting the commercialisation of their technology.”
Julian Wheatland, Chief Executive of Cosmos Technology, said: “The strength that Isis brings is its strong track record of creating value from intellectual property and also its experience of working with academics and researchers to source and build technology businesses.”
Wheatland continued: “One of the exciting things about Cosmos is that it will look to create jobs and businesses that build upon the heritage of excellent Bulgarian scientific research. We will create opportunities to increase the skill-set of the people we work with and attract inward investment to the region.”
Isis Enterprise will manage initial technology transfer activities and set up the infrastructure, and training for Cosmos. It will also provide ongoing commercialisation support.
Dr Baghurst said: “The model we have used for Cosmos Technology has the potential to become a platform for commercialising technology from other Eastern European companies.”
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