This summer, The Foundry, Oxford Sciences Innovation (OSI) and Oxford University Innovation (OUI) ran the inaugural StEP scheme to engage groups of student entrepreneurs in creating new spinouts.
OUI made University IP available to student groups for the purpose of putting together investable business cases. The groups received a stipend (£1,500 for applicants who committed to the full-time programme), a place to work, mentoring from OUI staff and free access to an intensive training programme.
The programme was based at The Foundry, starting on 1 July 2019 and running for four weeks, finishing with all groups having the chance to pitch for £25,000. This incentive will enable the successful teams to put more time into their business idea after the programme concludes, bring in additional expertise, and work with OSI on putting a more substantial first round investment together to start their new spinout.
The Summer 2019 StEP has finished. Further details of the results achieved will appear here soon; we are now planning future programmes.