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Imperial College London is one of the world’s leading universities. The College’s 17,000 students and 8,000 staff are expanding the frontiers of knowledge in science medicine, engineering and business, and translating their discoveries into benefits for our society.

Imperial is the UK’s most international university, according to the Times Higher Education, with academic METRIC 2013–14 2014–15 2015–16 2016–17 2017–18 ties to more than 150 countries. This year, Reuters named the College as the UK’s most innovative university because of its exceptional entrepreneurial culture and ties to industry. RESEARCH INCOME The work represented in this report covers 1 August 2017-31 July 2018. It was carried out by Imperial Research income (£ million)1 351 436 351 361 364 2 academics, students and professional services, including the College’s Enterprise Division, Research Office, Commercial research income (£ million) 46.0 55.7 53.6 61.1 61.4 Research Services and external providers such as Imperial Innovations and its parent companies Touchstone INVENTIVE OUTPUT Innovations and IP Group. The College would like to thank all industrial collaborators, past, present and future, for partnering with us and helping to realise research-based opportunities to improve the quality Inventions disclosed3 323 296 310 332 376 of all our lives. Patent applications filed4 57 66 73 68 77 Patents issued 98 47 59 49 47 Active inventions in portfolio5 977 1007 1021 1009 1026 Patent portfolio6 373 394 404 405 435 LICENSING PERFORMANCE New licences signed7 27 39 39 46 43 Invention disclosures licensed 34 60 48 86 63 Active licences held8 175 193 202 205 198 Licences generating income in the period9 71 74 70 64 71 Royalties and fees income generated in the period (£ million) 1.6 2.8 2.1 3.0 1.9 STARTUP FORMATION IP startups formed 7 8 6 9 10 Student-based startups formed 8 18 16 23 41 INCUBATION PERFORMANCE Startups housed by university incubators 16 18 13 9 19 Startups graduated from an incubator 2 2 4 10 1 Active incubator graduate companies 15 17 21 31 29 STARTUP INVESTMENT Venture capital acquired by IP startups (£ million) 254 363 114 123 88 Capital acquired by student-based startups (£ million) 0.8 5.0 9.7 5.1 17.6 ENTER STARTUP PERFORMANCE IP startups still active 73 74 70 76 79 Income from sale of shares in IP startups (£ million) – 1.9 1.6 6.6 1.6 Current turnover of all active IP startups (£ million) 45.3 33.6 48.2 80.2 147.3 Jobs supported directly by IP startups 645 814 1,002 974 1273 Student startups still active10 14 29 44 66 122 Current turnover of student startups (£ million) 0.9 1.4 2.8 1.2 2.1 New full-time jobs created by student startups10 65 89 51 40 64 CONSULTANCY AND TECHNICAL SERVICES11 Number of projects 559 549 522 543 550 Consultancy income (£ million) 10.8 9.7 9.3 8.5 9.0 PR I SE Number of companies supported 419 408 414 412 405 Number of lead consultants 297 287 289 284 287 RATIOS Invention disclosures per £100 million of research income 92 68 88 92 103 Patents filed per £100 million research income 16 15 21 19 22 Patents issued per £100 million research income 28 11 17 14 13 Licensing and realisation income : research income 0.4% 1.1% 1.1% 2.7% 1.0% IP startups per £100 million research income 2.0 1.8 1.7 2.5 2.7 Student startups / student population (full-time and part-time) 0.05% 0.11% 0.09% 0.18% 0.22%

1 Total income from research grants and contracts. Years 2015–2017 have been presented under FRS102. All prior years are reported under UK GAAP Source College Annual Report 2016–17. Preliminary figure given for 2017–18. 2 Figure shown for 2017–18 is preliminary. 3 Staff inventions. 4 Priority patent applications (does not include any PCT filings). Review of 5 Invention disclosure portfolio (not patent portfolio). 6Count of invention disclosures with patents. 2016–17 figure corrected from 429 stated in 2016–17 Scorecard. 7 The numbers represent the overall College-related IP commercial agreements as formally reported by Imperial Innovations (which includes options, revenue shares, IP assignments and licences). imperial.ac.uk/enterprise 8 ENTERPRISING ACTIVITY Absolute active licences only. 9 2016-17 figure is corrected from 91 stated in the 2016-17 scorecard. 10 Information is gathered from: Companies House, Crunchbase, Pitchbook, previous startup surveys, Google searches and the Enterprise Lab’s data set. 11 Delivered through wholly-owned subsidiary Imperial Consultants. 2017–18

© Imperial College London 2018, all rights reserved. For enquiries, please contact [email protected]

FOLD GUIDE FOLD GUIDE DO NOT PRINT DO NOT PRINT A dashboard of 100 wonderful, weird (and possibly worrying) ways the world might change in the foreseeable future

Example of organisations active in each area

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YouSp We doEl all this becauseVr we want our Co Qt Monit (South Korea), Abena Nova (Denmark),  Blue River Technology (US), Hortau (Canada)  BioTeq (UK), Grindhouse Wetwear (US), Dangerous Digital footprint eraser Personal digital Human head Human cloning & Distributed autono- Space solar power Space elevators Fully immersive virtual Arti›cial We can't talk about Siempre Secos (Spain) Things (US), see also The Eyeborg Project and the technology means that a much higher to create their ownshields companies, andtransplants havede-extinction to identify yourmous market corporations niche and research to make a difference.reality (VR) Our consciousness this one  Google/Waymo (US), Voyage (US), Nvidia Automotive Cyborg Foundation  Corporate partnerships introduce Imperial’s second  Statoil (Norway), Siemens (Germany), Volturn (US), (US), most major auto-makers proportion of our staff and students who need practicalDE  guidanceDE and  HAknow how yourHA science will makeDE a  rewardSP  comes fromSP seeing our researchDE  EA  UMaine (US)  Alphabet/Google Genomics (US), Amazon (US), Illumina  Commercialisation Review of Enterprising  Amazon (US), Google/Alphabet (US), Philips (US), Oxford Nanopore Technologies/Metrichor (UK) are interested in innovation and active support. difference. Contacts with companies, put to good use, and the intellectual  Green Skies Vertical Farms (US), Aero Farms (US), (Netherlands), Samsung (South Korea), Dyson (UK), Activity. Our goal is to share entrepreneurship than at many other either at White City, through research stimulation of engaging with business. Neo Farms (Germany), Urban Crop Solutions (Belgium) Miele (Germany), iRobot (US)  CTRL-Labs (US), Emotiv (US), Neuralink (US), maybe  Enterprising academics Our students are also increasingly Facebook (US) universities. Ci Le Sa partnershipsBr or ourAd network of businessAb For everyIs problem we Phsolve or questionTh Te  WiTricity (US), Powermat (Israel), Apple/Power By Proxi  Google/Alphabet (US), Amazon (US), Flirtey (US) what the College is doing interestedConversational in innovationLife-expectancy and Stratospheric aerosols Battle›eld AI advisors & decision- AI board members Invisibility shields Factory Transhuman Telepathy (US), Qualcomm (US), Mojo Mobility (US), Mopar (US),  No example found  Growing businesses machine interfaces algorithms mentors,robots are how wemaking bring machines that market& politicians we answer, a range of photosynthesisnew research technologies Fulton Innovation (US)  Airbus (France), Boeing (US) in this important area, and While Imperial benefits from a natural entrepreneurship. Many already have  Improbable (UK)  MI  DE  SP experience intoEA the College. DE  challengesEA  opensSP up.  SP  HA  HA  Google/Alphabet (US)  FabCafe (Japan), NASA (US)  Imperial consultants groundswell of entrepreneurial business ideas that they want to  European Organization for Astronomical Research in to continue tracking our  ReWalk (US), Rex Bionics (US), SuitX/US Bionics (US),  SRI International (US) the Southern Hemisphere (European consortium of £¤ endeavour, this activity still requires pursue; we talk to them about forming Above all, it is important to consider Imperial aspires to be one of the Ekso Bionics (US), Lockheed Martin (US) countries)  Imperial College Advanced performance over time.  Stratasys (US), Autodesk (US) encouragement and support. Our ways of aSs company, protectingIp their innovationsHe theMp whole entrepreneurialDn journey. Gv world’sQs leading innovativeCp and Ud Rd  Google/Alphabet (US), Samsung (Korea), Hexoskin  No example found Hackspace  NASA (US) We also want to show how Planetary-scale Implantable phones e-tagging Male pregnancy DNA data storage Genomic vaccines Quantum safe Cognitive prosthetics Data uploading Reactionless drive (Canada) Owlet (US), Komodo Tech (Canada), working have had to evolve. In the past, and securing funding. Implementing a comprehensive entrepreneurial universities, and it is Shi“wear (US), Lechal (India), OM Signal (Canada)  Epicenter (Sweden) and Three Square Market —ŸM (US) spectroscopy of humans & arti›cial wombs cryptography to the brain  Basil Leaf Technologies (US), Dynamical Biomarkers are close  Accelerator programmes companies gave us problems to work on support programme for student gratifying when rankings and league Group (US/Taiwan), Scanadu (US) enterprise takes place at  SP  MI  DE  HA  DE  SP  DE  HA  HA 8 SP  The Boring Company/Elon Musk (US), China Aerospace The most committed can enrol in the Science and Industry Corporation (China)  No example found and waited patiently for an answer. Now entrepreneurs or building an excellent tables confirm our achievements. But  Starwood Hotels (US), MariCare (Finland),  White City Campus Imperial, and the high value Scanalytics (US), Futureshape (Germany) we see new modes of engagement, with Enterprise Lab to develop their ideas business incubator are not enough they should just confirm, rather than  Reaction Engines (UK), NASA (US), Boeing (US),  Twist Bioscience (US) we place on innovation Lockheed Martin (US), Airbus (France)  Flowsky (Japan), Scanadu (US)  Student innovators researchers from our corporate partners further,Gh and thenAk test their proposalsRs in isolation.Em All the Xxelements need Bh shapeMe our agenda. If weTc are authenticDr Wh  Vaccinogen (US), EpiVax (US), IBM (US),  Deep Space Industries (US), Planetary Resources (US), Juno Therapeutics (US) and entrepreneurship. throughPredictive gene-based startup competitions.Automated knowledge If Autonomous robotic Emotionally aware Humanoid sex robots Human bio-hacking Internet of DNA Thought control - Dream reading Whole Earth  Tesla (US), ABB (Switzerland), Siemens (Germany),  Mentoring coming into our laboratories to work healthcare discovery surgery to bemachines in place so that people can about what we are doing,machine and interfaces we are & recording virtualisation Made in Space (US) IBM (US), Itron (US) successful, the startups can join  Alphabet/Google (US), KETS (UK), IDQ (Switzerland), alongside us, and our staff going to work  DE  EA  EAmove naturallyMI along a pipelineMI from6 doingHA it for the rightDE reasons, thenMI the  HA  DE Bitcoin (Japan), Ripple (US), Litecoin (US)  Synthetic Genomics/ExxonMobil (US), Global Algae Isara (Canada)  Tables Innovations (US), Algenol (US) in corporate labs. Imperial’s White City Incubator and one to another, creating a healthy ratings and plaudits will follow.  Solarreserve (US), Abengoa (Spain), North China  Darpa (US) later scaleup in the Translation & Power Engineering (China), Shanghai Electric (China),  Organavo (US), Envision TEC (Germany), RegenHU  Figures environment in which entrepreneurship Zhejiang Supcon Solar (China), NWEPDI (China)  Kernel (US), Neuralink/Elon Musk (US), 2045 Initiative We also organise hackathons to bring InnovationMd Hub. SwWe are starting Mmto see Pb Et La Sd Lc Pc Sh (Switzerland), Cellink (Sweden), Seraph Robotics (US) (Russia), Darpa (US), General Electric/Braingate (US), can flourish.  PredPol (US), ECM Universe (US) possibly Facebook (US)  Director’s letter staff from businesses together with innovationsMega-scale and Self-writingentrepreneurs so“ware whoPublic moodare monitoring Programmable Peer-to-peer energy Lifelong personal Smart dust Low-cost Planet colonization Shape-shi“ing  HbO2 Therapeutics (South Africa), Biospace (US) desalination bacteria trading & transmission avatar assistants space travel matter  Pavegen (UK), ECEEN (China)  NASA (US), Cannae (US) some of our brightest minds to work completing that journey – just a handful At Imperial we have worked in a number  For example Vantablack by Surrey NanoSystems (UK)  Scorecard  SP  EA  DE  SP  DE  MI  DE  HA  HA 6 SP Google/Alphabet (US), Joby Energy (US), Altaeros (US),  Apple (US), Amazon (US), Alphabet/Google (US), together on solving specific issues in a of ways to achieve that. For example,   ITER (EU/France), Tokamak Energy (UK), Alphabet/ at the moment, but with more to come. Kitegen (Italy), Enerkite (Germany) Google/Tri Alpha Energy (US), General Fusion Microso“ (US) focussed way over a short period of time. innovation initiatives have developed (Canada), Helion Energy (US), Lockheed Martin (US)  Table of disruptive technologies  Pullstring (US), Amazon (US), Alphabet/Google (US),  No example found The whole ethos at White City is across the College in response to local Nintendo (Japan), Invisible Girlfriend/Boyfriend (US) Mc Sf Dt Se Bf Op Bs Nm Fu Mr  Festo (Germany)  CIA (US) thatMedical staff, tricorders students Smart and flooring business & Diagnostic toilets needs,Smart energybut gridswith slightlyAlgal bio-fuels different waysHuman-organ printing Arti›cial human blood New materials Fusion power Self-recon›guring  NASA (US) carpets substitute modular robots  Israel Desalination Enterprises Technologies (Israel),  Lockheed Martin (US), QinetiQ (UK), Boston people should work side by side. It of working. The challenge has been to  Alphabet/Verily (US), Amazon (US), Vuzix (US), Acciona (Spain), Fluence Corporation (US) Dynamics/So“bank (US/Japan)  DE  DE  DE  SP  SP  SP  SP  SP  SP  SP Everysight (Israel) is not simply a university campus, bring structure and coherence to these  Microso“ (US), Google/Alphabet (US), Open AI (US)  Woebot (US), Pe›n (US), LV (UK)  Elegant Embellishments (Germany), iNova (Spain), nor a science park remote from the  Open Utility/Essent (UK/Netherlands),  Deep Knowledge Ventures (Hong Kong), Tieto (Finland) activities, without stifling them. Studio Roosegaarde (Netherlands), Prosolve —˜™e Knowelsys (China) POTENTIAL FOR SOCIO-ECONOMIC DISRUPTION SOCIO-ECONOMIC FOR POTENTIAL (Germany) university,Dl but a Paplace for sustainedAv and Id Df Ap Fp Sr Fd Ze  BAE Systems (UK), Toyota (Japan). NB. Big di§erence We have also made an effort to fill in  Gingko Bioworks (US), US Naval Research Laboratory between optical camouflage and bending light to make meaningfulDistributed ledgers interaction.Precision agriculture Autonomous vehicles Intention decoding Drone freight delivery Autonomous —D-printing of food & Swarm robotics ª-dimensional Zero-point energy  Dstl (UK), Boeing (US) (US), US Army Research Lab (US), Darpa (US) gaps.algorithms For example, we felt that whilepassenger aircra“ pharmaceuticals materials things disappear  So“bank (Japan), AIST (Japan), Blue Frog Robotics  Open Utility (UK/Netherlands), Power Ledger  DE  SP  EA  MI  EA  EA  SP  EA  SP  SP (France), Care-o-bot (Germany), Riken/Sumitomo Riko  Breakthrough Energy (US), RIPE (US), Joint Centre for I know from my own experience as staff and students were well-supported, (Australia), LO— energy (US), Energy Web Foundation Arti›cial Photosynthesis (US) (Japan), May›eld Robotics (US) (Switzerland) an entrepreneurial academic how there was less support for our  SENS Research Foundation (US), Methuselah  Amazon (US), Google/Alphabet (US), Philips  Konami Corp (Japan), Mitsuku (UK) important it is to listen to people who community of early career researchers. (Netherlands), Samsung (South Korea), Dyson (UK), Foundation/Peter Thiel (US) Rc Sc Cm Ro As Rg Wa Eb Bp Be Miele (Germany), iRobot (US)  MOOG (US), Darpa (US) Facebook (US), Neuralink/Elon Musk (US) understandRobotic care the market.Smart controls It and is easyCultured to meat TheDelivery result robots has & beenAutonomous two programmes ships & Resource to gami›cation Water harvesting from Broadcasting Bio-plastics Beam-powered  companions appliances passenger drones submarines air of electricity propulsion  Impossible Foods (US), Memphis Meats (US), Super  Space X/Elon Musk (US), Blue Origin (US), Virgin  Suicide Machine (Netherlands), Just Delete Me (US) think that world-leading science will help this highly innovative community Professor Nick Jennings, Vice-Provost Meat (Israel), Finless Foods (US), New Harvest (US) Galactic (UK), Rocket Lab (US), Axiom Space (US),  MI  DE  SP  EA  EA  SP  SP  SP  SP  SP SpaceIL (Israel), Firefly Aerospace (US)  No example found inevitably lead to commercial success, to hone their entrepreneurial skills. (Research and Enterprise)  Wing/Alphabet (US), Starship Technologies (UK), Volocopter (Germany), eHang (China), Piaggio (Italy)  Space X (US), UAE Mars Mission (UAE), NASA (US)  Turin Advanced Neuromodulation Group (Italy) Cr So Pp Eh Wt Ac Mh Sg Pe Ff  Leidos (US), Boeing (US), Rolls Royce (UK)  Intel (US)  Sooam (South Korea), Revive and Restore (US) Cryptocurrencies Concentrated Predictive policing Micro-scale ambient Airborne wind turbines Avatar companions Metallic hydrogen Smart glasses & Pollution eating Force ›elds  Joulebug (US), Waterpebble (UK)  Kite Pharma/Gilead Sciences (US), Ÿ—andMe (US),  No example found solar power energy harvesting energy storage contact lenses buildings Phenogen Sciences (US), Regeneron (US),  Permalution (US), Sun to Water (US) Veritas Genetics (US)  Rebeam (US), Solaren Corp (US) DE  SP  DE  SP  SP  MI  SP  HA  SP  SP  Powercast (US)  IBM (US)  Thoth Technology (Canada)

 NatureWorks (US), Gruppo MAIP (Italy),  Intuitive Surgical (US), Verb Surgical/Alphabet/Johnson 8 Improbable (UK), HelloVR (US), Magic Leap (US), Genomatica (US), Green Dot Bioplastics (US) & Johnson (US), Da Vinci Surgery (US) Microso“ (US). See also Mind Maze (US), Facebook FrontSn cover: Pae DwNatwilai (MSc MechanicalVa We Bi Px Cc Vt Sj Am (US) and possibly Apple (US)  NASA (US) Smart nappies Deep ocean Vertical agriculture Wireless energy Balloon-powered Powered exoskeletons Computerized shoes & Vacuum-tube Scram jets Asteroid mining  IBM (US), Toyota (Japan), Mimosys (Japan), Engineering 2015) is founder and CEO Persado (US), Joy AI (US) Possibly Alphabet/Google (US) wind farms transfer internet clothing transport  Everledger (UK), Stampery (Spain), Brickblock 

LOW of TRIK, which produces software for creating (Germany), Slock.it (Germany) DE  SP 3 SP  SP  SP  HA  DE  SP  SP  SP  Realbotix (US), True Companion (US)  As it says, we can’t say interactive 3D maps of large structures from drone

SOONERfootage. Pae originally developed TRIK as a project TIME* LATER * Time is de›ned as ubiquity or mainstream use not invention for WE Innovate, Imperial’s programme to encourage entrepreneurial women. Since then she has STIMULATINGdeveloped and launched DEBATE her business with the help Legend How to read entries Themes of both the Enterprise Lab (page 20) and the Imperial Ghost Technologies: Fringe science Abbreviation of technology Each of the 100 technologies has been subjectively categorised according to PublishedVenture by Imperial Mentoring Tech Scheme Foresight (page 23). In 2017Imperial, she Tech Foresight is the College's Examples are purely illustrative and do not & technology. Dened as highly improbable, but not actually impossible. Worth watching. ve broad themes, which are: in Januarywon the Design, the Table in Innovation of Disruptive Award, and wasdedicated named foresight practice, creating constitute any form of recommendation, DE Data Ecosystems Horizon 3: Distant future  years + (Explore). Smart nappies Description of technology Technologiesas one ofhelps Forbes’ prepare 30 under for the 30 future. space for business leaders to immerse validation or investment advice. The Table SP Smart Planet by presenting a mixture of prediction themselves at the fringes of disruption, was conceived and created by Richard Horizon 2: Near future ƒ- years hence DE Theme (See next right) EA Extreme Automation (Experiment). and provocation. It was described by the and explore breakthrough technology Watson, Dr Anna Cupani and the Imperial Examples HA Human Augmentation Financial Times as ‘brave’ and the Business and research through visionary academic Tech Foresight team. Horizon 1: Happening now (Execute). (See right hand panel) MI Human-Machine Interactions Insider warned it might ‘blow your mind’. perspectives. www.imperialtechforesight.com  REVIEW OF ENTERPRISING ACTIVITY  3 UPDATES © World Economic Forum

DISCUSSING SCIENTIFIC SOLUTIONS WITH WORLD LEADERS IMPACT FROM A LONG-TERM _ PARTNERSHIP _ Professor Gary Frost, and Drs Marisa Miraldo and Laura Barter, shared their pioneering work on nutrition Imperial’s partnership with Mitsubishi Heavy and food production with global leaders at the Industries (MHI) on turbocharger design began as Annual Meeting of the World Economic Forum (WEF) a collaboration with Professor of Turbomachinery in Davos-Klosters in January 2018. Imperial regularly Ricardo Martinez-Botas (above) in 2005. It has led to engages with WEF political and business leaders on substantial improvements in turbine performance as topics represented by the College’s research networks a result of more advanced measurement techniques of excellence. and simulation tools. “Good quality R&D is the bedrock of our business. In Imperial we have found a longstanding partner who can help us to deliver FAST-TRACKING BUSINESS Discover the full range of Imperial’s Networks cutting edge products,” said MHI’s Seiichi Ibaraki. IDEAS FROM EARLY CAREER of Excellence at www.imperial.ac.uk/ RESEARCHERS multidisciplinary-research IMPERIAL’S BUSINESS NETWORK _ _ Ms Letizia Gionfrida (Bioengineering) is one of the Members of Imperial Business Partners (IBP) explored Imperial researchers selected for cohort one of the TACKLING FUTURE CHALLENGES technologies of the future at Imperial’s flagship annual MedTech SuperConnector (page 16). She is developing _ technology foresight conference Shifting Realities in an intuitive, visual-based digital platform that is June 2018. Powered by IBP and curated by Imperial Tech powered by neural networks to identify biomarkers in Leading scholars from the Schmidt Science Fellows Foresight, the conference explored how companies can immune-mediated inflammatory diseases. This could Programme took part in an Imperial Tech Foresight adapt to technology-enabled futures. lead to a supplementary tool for faster screening, as workshop on the future of urbanisation to explore well as remote monitoring of disease progression, potential solutions to future global challenges. and predictive treatment as a result of continuously Imperial Tech Foresight works with businesses and IBP offers accelerated access to the best of measuring how the patient responds to drugs. researchers to help them consider alternative futures Imperial’s people, technologies, expertise and apply this thinking to their own work. “This workshop has taught me the practice of thinking about and facilities. future scenarios,” said workshop participant Fred EXECUTIVE EDUCATION Find out what IBP can do for your business at CONNECTING GROWING Richardson. _ www.imperial.ac.uk/ibp BUSINESSES TO STUDENT Last year, Imperial College Executive Education ran 12 TALENT Open Programmes for over 200 business leaders from more than 25 countries. The department also worked _ with more than 15 blue-chip companies to develop and In 2017–18, Imperial’s Careers Service partnered tailor Custom Programmes for their high performing with Santander Universities to provide SMEs with leaders. One example was an experiential ‘digital streamlined access to Imperial’s student talent, via hothouse’ where business leaders worked in cross- paid, project-based internships for undergraduates. functional teams with coders and app developers to “This internship was a valuable experience as it has prototype real digital innovations. Participants received given me both technical and professional skills and has feedback from coaches throughout the process, giving enabled me to get a clearer picture of how it is to work in them the opportunity to reflect, adapt their behaviour the industry,” said one of the student interns. and apply new learning.

4 REVIEW OF ENTERPRISING ACTIVITY 2017–18 5 CORPORATE PARTNERSHIPS BOOST FOR MOLECULAR INNOVATION AT WHITE CITY _ Agilent Technologies and Imperial signed a deal for a suite of equipment to promote research collaboration at the new Molecular Sciences FROM IDEA Research Hub (MSRH) on Imperial’s White City Campus. The agreement was the first corporate partnership for the MSRH, which provides a new research home for the Department of Chemistry, and brings together nearly 800 TO IMPACT scientists, clinicians, engineers and business partners to collaborate in new ways to address common challenges in areas such as energy, Imperial values collaborative Imperial offers businesses a unique healthcare and sustainability. depth and breadth of academic research that combines The Agilent agreement includes a new Agilent expertise across its four faculties and Measurement Suite and other instrumentation. complex real-world business expanding cohort of multidisciplinary It will enable interdisciplinary research challenges with academic research centres and networks of into areas including clinical diagnostics, excellence. These pull together curiosity and research biopharmaceuticals, energy and chemicals, expertise across College for tackling rigour, to deliver tangible environmental science, food testing and major challenges such as nutrition, agriculture, and materials research. benefits for society. or addressing emerging research areas Working in partnership such as artificial intelligence. Agilent president and CEO Mike McMullen said: “Imperial plays a very important role in advancing a deeper with industry to increase understanding of the world through their lab instruction and research. We recognize the important contributions made by academic engagement in university scientific research to solve real-life challenges... It is an honour for Agilent to support Imperial in building an advanced scientific measurement and analytical laboratory on their new White City Campus.” collaborative research and commercialisation lies at the heart of the College’s VITAL STATISTICS 2017–18 entrepreneurial ecosystem. Imperial offers companies many opportunities to work with the College. £61m £942m Corporate partnership activities in research in venture capital CO-LOCATION IMPROVES connect the business interests of a funding from to IP startups in HEART DISEASE DIAGNOSIS wide range of companies with the industry the last five years _ College’s research expertise. The aim A new type of collaboration between Imperial is to make it easier for businesses to and US-based company HeartFlow aims to help identify the most relevant academic physicians improve diagnosis of heart disease, experts and to design effective bespoke by providing better information about coronary collaborations, such as ‘popup’ 10 376 artery blockages and blood flow, which in academic teams to work on challenge- new IP startups invention disclosures turn will improve decisions about treatment. led research programmes or flagship The collaboration involves co-locating a industry-funded centres. HeartFlow team at Imperial’s BioMedical Image Analysis (BioMedIA) group, to pave the path for bringing the latest AI technology into Visit www.imperial.ac.uk/corporate-partnerships clinical practice. to find out more about how Corporate Partnerships connects businesses to researchers. The partnership is led by Dr Ben Glocker (Computing, right), who said: “This collaboration provides us with the optimal infrastructure to go beyond publishing papers and turn our ideas into new clinical solutions.” Dr John H Stevens, President and CEO of HeartFlow, said: “I have no doubt that the combined expertise of the HeartFlow and Imperial teams will help accelerate turning cutting-edge science into ground- breaking products that can positively impact how patients with suspected heart disease are diagnosed and managed.”

6 REVIEW OF ENTERPRISING ACTIVITY 2017–18 7 CORPORATE PARTNERSHIPS COMMERCIALISATION

JAPANESE BIOSCIENCE COLLABORATIONS _ OUTPUT AND COMMERCIAL DEALS A partnership between Imperial and Japanese pharmaceutical company Shionogi aims to tackle hard- to-treat infections, by looking into how pathogens become Invention disclosures, patent applications resilient to treatments. The partnership is supporting two and commercialisation of IP all contribute to a postdoctoral positions in the Medical Research Council university’s inventive and economic output. (MRC) Centre for Molecular Bacteriology and Infection at Imperial. Managed by Imperial Innovations, invention disclosures at Imperial have increased by 13% this year (page 30), with an Dr Sophie Helaine is one of the Imperial researchers leading increase in the number of patent applications filed, building work to investigate the mechanisms that make some MORE PRECISE ROBOTIC SURGERY on the steady growth witnessed over the last six years. The infections so difficult to treat. Her work focuses on persister _ year’s commercial deals were largely dominated by two cells that enable pathogenic bacteria such as Salmonella to significant projects in the engineering and medical sectors. Precision Robotics is working with a range of persist in the body in a dormant state, survive treatment, and patented robotic technologies to help surgeons then awake later to cause a relapse of the infection. and improve outcomes for patients. It represents a “This collaboration is the result of extensive conversations unique partnership between groups in the UK and between Imperial and Shionogi,” said Dr Helaine. “The additional support of industry partners will enable us to intensify China, funded by a syndicate of first tier Chinese and our efforts to tackle hard to treat infections, which could ultimately help reduce the numbers of patients with infections for GROUNDBREAKING GENE Hong-Kong-based investors with sector expertise which existing antimicrobial treatments no longer work.” and commercial and industry resources. Imperial THERAPY FOR CYSTIC FIBROSIS Innovations supported the company from IP protection In addition, Imperial researchers and Corporate Partnerships staff were part of the UK delegation to BioJapan 2017 and _ through to company launch. The Precision Robotics 2018, to further the College’s aim to forge new collaborations with partners across the world. Imperial researchers have The development of a new lentiviral vector to deliver medical robot platform will initially be used for co-authored more than 1,000 research papers with their Japanese peers in the past five years alone. The delegations have patients requiring colorectal cancer surgery. showcased academic — industry collaborations, successful university spinouts, digital health in the NHS and Japan — UK gene therapy for patients with cystic fibrosis received research and commercialisation projects. a significant boost when Imperial Innovations entered an option and licence agreement with Boehringer Precision Robotics is based on research at Imperial’s Ingelheim. The agreement was part of a three-way Hamlyn Centre for Robotic Surgery led by Professor collaboration between the pharmaceutical company, Guang-Zhong Yang, who discussed some of his Oxford BioMedica and the UK Cystic Fibrosis Gene technologies with Hong Kong’s Chief Executive Carrie Therapy Consortium, formed by Imperial and Lam (centre) and Imperial’s President Alice Gast (left) the Universities of Edinburgh and Oxford. The in December 2017. EUROPEAN MARKET STRUCTURE collaboration builds on the Consortium’s IP portfolio, RESEARCH NETWORK takes advantage of the vector’s unique ability to _ produce high protein levels over long periods, and prepares the route to clinic by establishing robust Plato Partnership is a not-for-profit company comprised of manufacturing and toxicology programmes. the largest global equity asset managers and broker dealers. In March 2018, it entered into a strategic partnership with The Imperial leads for the UK Cystic Fibrosis Imperial College Business School to build a network to Gene Therapy Consortium. From left: Professors facilitate independent academic research across the full Uta Griesenbach, Eric Alton and Jane Davies. breadth of the European market structure debate. Led by Dr Andrei Kirilenko, Director of the Centre for Global Finance and Technology at Imperial College Business School, the network combines academic rigour with institutional knowledge and data from the largest market participants to enable in-depth analysis of consolidated data sets not usually available to academics. It is expected that the innovative research and analysis the Centre is producing around this extremely detailed data will provide the analytical foundation for appropriate market structures in Europe and beyond. The partnership comes just months after the market faced the largest regulatory overhaul in a decade. “Without a doubt, this is a game-changer for academia, the industry and the regulators,” said Dr Kirilenko.

8 REVIEW OF ENTERPRISING ACTIVITY 2017–18 9 ENTERPRISING ACADEMICS SEPARATING MOLECULES _ Professor Andrew Livingston (Chemical Engineering) is an established founder of startups, establishing his first Imperial startup in the early ‘90s, before the College had NEW ROUTE FOR any formal policy or support for academics in this field. And he was one of the first academics to use Founders Choice for incorporating his latest business venture Exactmer Ltd in December 2017. “Founders Choice is a great development for academics who know what’s needed and just want to get on and set up a company”, says Professor Livingston. “It works especially well for those of us who are either confident enough or cheeky enough to think we can handle our own risk.” The launch of Founders Choice companies, but indications are that the Professor Livingston enjoys his collaborations with in August 2017 offered Imperial approach is encouraging more startup business more generally. He specialises in making academics a new route for opportunities, with a boost in startup membranes that separate molecules, and using those startups that would secure formation anticipated by the time the membranes to solve challenges in the oil and gas industry. them up to 95% founding pilot comes to an end in January 2019. He says: “Companies have interesting problems and smart equity in a company based “It is gratifying to see that Founders people. Collaborating with them has helped me focus my research on challenges that are worth solving.” on their research. Imperial Choice is already proving popular Innovations would continue with our academics,” says Professor Exactmer was set up to manufacture and purify high to provide a more basic level Nick Jennings, Vice-Provost (Research molecular weight polymers. “Establishing a robust process of support, including the and Enterprise) at Imperial. “Being to make it easier for academics to start companies fills able to offer a choice on how to set an essential niche in any entrepreneurial ecosystem,” provision of training, template up a business reflects how far our Livingston observes. “We carry out fundamental research. legal documents and access to entrepreneurial ecosystem Then we talk to companies about how it can help solve professional advisers. has evolved.” a problem. And then we set up a company to build the The scheme recognises the knowledge, device and deliver the solution.” expertise and strong industry networks of Imperial’s entrepreneurial academics (Tables 2 and 3, page 26). Company founders must demonstrate that they have a credible business plan, and have found investors and partners willing to support the venture. Founders Choice represents a significant policy change from the previous route, which continues to provide academics with an option for fuller support and a more even split of equity between founders “Companies have interesting and Imperial Innovations (which TESTING GRAPHICS DRIVERS holds founding equity on behalf of FACIAL RECOGNITION problems and smart people. _ the College). Collaborating with them has _ GraphicsFuzz was set up by Dr Alastair Donaldson One year into the 18-month pilot phase Dr Stefanos Zafeiriou (Department of Computing) used Founders helped me focus my research (Computing) and colleagues using the Founders Choice of Founders Choice, and most new Choice to set up FaceSoft with plastic surgeon Mr Allan Ponniah on challenges that are route in April 2018 to make graphics drivers more companies formed through Imperial from the Royal Free Hospital. FaceSoft uses proprietary machine secure and reliable. The company developed innovative Innovations are now taking the founder- worth solving.” learning models and databases to improve computer-generated 3D automated testing technology that has reduced testing driven route. It is still early days to face reconstruction and facial recognition The technology could be Professor Livingston times and improved compliance and security by identifying quantify the full impact of Founders used for treating medical conditions that affect the face, improving bugs in flagship devices that cause data theft across Choice, given the unpredictable biometric security, and as well as refining facial expressions in browser tabs or device reboots. GraphicsFuzz was acquired timelines involved in forming new computer games. The company won the Programm/able competition by Google in August 2018 and is now open source at in 2017, and has since raised investment funding. The Natural History Chemical engineer Professor Andrew github.com/google/graphicsfuzz. Dr Donaldson said: Museum has featured FaceSoft technology as part of its research Livingston has established several “The acquisition by Google is a fantastic opportunity to programme to determine what modern humans would look like startup companies to develop maximise the worldwide impact of our graphics driver as Neanderthals. technologies and devices for improving testing technology.” the separation of molecules for industry.

10 REVIEW OF ENTERPRISING ACTIVITY 2017–18 11 GROWING BUSINESSES IMPERIAL CONSULTANTS

Imperial offers small and medium-sized enterprises (SMEs) a range of opportunities for innovation and growth, including access to student talent, ideas and world-class working spaces and research facilities.

Vital support for early Business uptake of services including Consultancy projects enable stage businesses UNDERSTANDING INCUBATOR AT A technical advice, testing, analysis and academics to develop a deeper _ expert witness via Imperial Consultants understanding of societal needs, The Imperial White City Incubator lies at THE NEEDS GLANCE 2017–18 has continued in the past year, and tailor research to maximise impact the heart of how Imperial supports early OF GROWING companies delivering projects for over 400 clients and raise their profile: “My consultancy stage businesses (Table 7, page 29). BUSINESSES 19 incubated from 29 countries. work is leading to more collaboration, Space options include an innovative _ In addition to benefits for clients (see more publications and further grant shared lab that further reduces barriers case study below), the process of opportunities” confirms Professor During January – July 2018 occupancy for smaller up-and-coming startups to 94% working as a consultant also improves Alison Holmes, Department Imperial worked with businesses get off the ground. new jobs created the research practice of academics. of Medicine. local to Imperial’s White City + to date The Incubator has already celebrated Campus to understand better 100 a number of ‘graduations’. Two the practical challenges that million raised by companies have moved from the + they face, and explore how to incubator companies shared lab to their own spaces within £85 STORING ENERGY IN help them grow. to date the Incubator, including CustoMem. DISUSED MINESHAFTS This was set up by Imperial students to The GENERATE pilot programme New partnership with RebelBio the _ develop a new biomaterial to capture included interviews with over world’s first dedicated life sciences and recycle hazardous micropollutants 250 businesses, alongside accelerator. Alumni-led company Gravitricity commissioned PhD a number of sector-based found in industrial wastewater. MiNA New Experts in Residence researcher Mr Oliver Schmidt (Centre for Environmental Therapeutics, co-founded by Imperial’s business discovery workshops. Programme for giving incubator Policy) via Imperial Consultants to provide an independent Professor Nagy Habib to pioneer a The findings are feeding into tenants access to expert advice cost assessment of the technology behind its gravity-fed new class of medicine called ‘small the College’s ongoing work to and mentoring. energy storage system. shape the new campus so that it activating RNA’, grew rapidly in the New White City The technology stores excess electrical power as potential responds to the business needs Incubator, and have now secured larger Innovators Programme energy by suspending a weight of up to 2,000 tonnes in of its local community. facilities elsewhere in the Translation to provide entrepreneurs disused mineshafts. It uses excess electricity to winch & Innovation Hub (I-HUB). and startups with work the weight to the top of the shaft for release when energy space and workshops is required. for development. “This technology is a first-of-a-kind project,” explains “Building a deep tech Gravitricity Managing Director Charlie Blair (MSc startup requires Environmental Technology 2004), “We wanted to really tremendous effort and test the work we had done, so we came back to Imperial.” more than a shed. The “I made sure our study was rigorous and compared Incubator’s shared all technologies on a level playing field,” Mr Schmidt says. “Gravitricity… comes out looking like a compelling labs provided essential proposition.” The report concluded that the technology access to high grade, could offer cheaper energy storage than batteries and excellently located labs would be particularly well-suited to grid operators. at a crucial time in our Alumnus Charlie Blair worked with Imperial Consultants to development.” assess his company’s energy storage technology. Henrik Hagemann, CustoMem CEO (right), with other co-founders Visit www.imperial-consultants.co.uk to find an academic expert for your business needs.

12 REVIEW OF ENTERPRISING ACTIVITY 2017–18 13 IMPERIAL COLLEGE ADVANCED HACKSPACE

things happen and help others in their complementing teams. They come endeavours. Some people use ICAH along for the opening night, the to enhance the pace of their research, company pitches a challenge, and ICAH ORIGINALS whilst others want to validate an idea, then everyone gets cracking, with • The Polyfloss Factory: a new help solve a business challenge, ideas being validated and transformed recycling process based on the Professor Oscar Ces and of inventors, and offer new ways to do was to bring their ideas and pay or generate minimal viable products. into working prototypes in just days. principle of candy-floss machines, Drs Nick Jones and Billy Wu of interacting with the College? Could for their consumables. We would take to transform thermoplastics into we even inspire a new generation of care of the rest. New ways of working with industry – some of the brains behind Moving forwards wool for insulation, packaging, entrepreneurs, create new companies, _ _ garments or product design. the Imperial College Advanced or trigger new avenues of research? Democratic multidisciplinarity ICAH also has lots to offer new and When we established ICAH in 2014, • Supersilk: feeding graphene Hackspace – explore how _ established businesses that are moving it was an experiment with just two Turning ideas into reality to silk worms creates a new, towards more collaborative, leaner ideation and hackspaces on the a space for invention has _ In just over four years, the ICAH strong, conductive, sustainable innovation models. It is tailor-made South Kensington Campus. In 2017, a message for everyone. community has become a multi- material that could be woven into So it was that in 2014 we established for commercial partners to collaborate ICAH extended its capabilities with disciplinary serendipity machine, maternity clothing to incorporate Using innovation as a route for the Imperial College Advanced with College staff, students and a new bespoke facility in the Invention convening a community of like-minded sensors for monitoring blood engaging stakeholders seems like a Hackspace (ICAH). With funding from alumni to rapidly convert research Rooms at White City. It is now more hackers, experimentalists, inventors, pressure and baby movements. no-brainer if you work at a university. the Engineering and Physical Sciences designers and entrepreneurs from ideas into breakthrough prototype closely aligned to Imperial’s wider But if you have no budget, no access Research Council (EPSRC), we set out across Imperial. solutions. It has also become a place entrepreneurial ecosystem, with • Bladebug: a multi-legged, walking to equipment, or your business idea to provide a community-operated where companies come to recruit the stronger links to the Enterprise Lab robot for maintaining wind is tangential to your day job, then the venture with free access to a network It’s a place where people with common brightest minds. If you want to meet and White City Incubator. The ICAH turbine blades, maximising their process of developing your idea can of workshops, laboratories, co-location interests in exploration, device global thinkers, change makers, value network of spaces is set to grow, as lifespan and reducing the need be quite frustrating. spaces, world-class prototyping prototyping, med tech, computers, creators, you will find them at ICAH. we continue to offer anyone in our for humans to undertake risky equipment, training and experts. machining, automated synthesis, networks their ticket to travel from abseiling inspections. A few years ago, we asked ourselves Hackathons provide companies with synthetic biology, digital art, robotic idea to commercialisation. what would happen if a university Across its spaces ICAH would a specific way to find both ideas • 3D printed ceramics: a new and diagnostics can meet, socialise like Imperial gave an equal means of support “making” in its broadest and people, by harnessing the ICAH ceramic printer creates intricate and collaborate. developing ideas to everyone: students, sense, from synthetic biology to community to develop solutions for 3D internal structures and surface researchers, administrative staff, molecular fabrication, microfluidics, It has become a home for democratised defined industrial challenges via a _ patterns that can be used to alter corporate partners, local businesses additive manufacturing, robotics and research, invention and innovation, scale-fast, fail-fast framework. At A version of this article was first the mechanical properties and members of the community. automation, electronics, metal work, where status is irrelevant, and the only ICAH we convene the best hackers for published on the EPSRC blog, of materials. Could we activate a dormant population woodwork and textiles. All users had thing that counts is your desire to make a brief and organise them into skill- November 2018. • Gyrogear: an Imperial startup company developing a device to stabilise the hands of people with tremors developed its first Imperial’s Advanced Hackspace provides extensive prototypes in ICAH. prototyping equipment for the College’s community of makers, hackers, inventors, entrepreneurs and business collaborators.

14 REVIEW OF ENTERPRISING ACTIVITY 2017–18 15 ACCELERATOR PROGRAMMES SEPARATING BIOMASS _ Finding a way to split biomass into its three main polymer components could help replace oil with renewable biological resources. Dr Florence Gschwend (Chemical Engineering) used Techcelerate to develop Chrysalix Technologies – the startup she co-founded to commercialise the biomass separation process. “It’s an excellent programme if you have little or no In the past year, Imperial has Then in June 2018, an Imperial- market awareness was enhanced, entrepreneurship experience.” launched two accelerator led consortium launched the with market opportunities confirmed MedTech SuperConnector (MTSC) in some cases, in line with the programmes for early career entrepreneurship programme, with programme’s objectives. researchers, to provide this £5 million funding from the Research “These schemes upskill our postdocs England Connecting Capability Fund highly skilled community by helping them develop a nuanced to boost the commercialisation of new with thinking time for understanding of what their potential medical technologies. The first MTSC customers want, at a time when many exploring the commercial cohort comprises ten early career researchers are thinking about next potential of their work. researchers from seven higher education steps in their careers,” says Ben institutions, with four from Imperial. First up was the College’s pilot Mumby-Croft, Director of Imperial’s Techcelerate programme, launched Both schemes buy time out of the lab Enterprise Lab. “Feedback suggests in January 2018. This offered fourteen for participants, and immerse them in that we are providing essential support postdocs the chance to immerse entrepreneurship training, with access to this traditionally underserved, yet themselves in a three-month to incubator, accelerator and industry highly talented, part of the College’s programme of entrepreneurship networks, alongside consumable entrepreneurial ecosystem. Ultimately training to explore the market pull and travel allowances. Evaluation both academic and business of their business ideas. of Techcelerate cohort one shows that communities stand to benefit.” MORE FLEXIBLE BATTERIES _ Finding a better way for batteries to match the variability of wind and solar power with peaks and troughs in energy demand is what drives the work of Dr Vladimir Yufit (Earth Science and Engineering). Thanks to Techcelerate and subsequent grants, he has set up a new company, RFC Power Limited, through Founders Choice (see pages 8-9): “Techcelerate changed the way I viewed the technology, as a system that’s flexible and can be tailored to the customer.”

AI FOR EXOSOMES AS ENGINEERS NANO-THERAPEUTICS _ _ Dr Richard Ahlfeld (Aeronautics) used Techcelerate to Finding better ways of capturing and isolating tiny explore the value of AI software for applying machine cellular messages known as exosomes, and using them learning to engineering. He has since secured a pilot as therapeutics to help treat cancer, is the foundation project with Airbus, several grants and office space for of Envoy Biosciences, the company being set up by his company UQuant Ltd, which now has seven part- Dr Richard Kelwick (Medicine). “The Techcelerate time staff. “I always thought I would be an academic programme was career-changing for me. I now have and an entrepreneur on the side. Instead I am now an a strong foundation from which to explore potential entrepreneur and an academic on the side.” translational opportunities.” Read more about Techcelerate cohort one and meet cohort two at www.imperial.ac.uk/enterprise/techcelerate

16 REVIEW OF ENTERPRISING ACTIVITY 2017–18 17 WHITE CITY CAMPUS

The Invention Rooms: These offer spaces for businesses, Imperial staff and students, and the local community to collaborate. Designed to inspire inventors, entrepreneurs and makers, the building includes the Imperial College Residential tower: From 2019, Eighty Advanced Hackspace (page 14). Eight Wood Lane will provide 192 new homes, offering people an opportunity to live in the heart of this pioneering neighbourhood. The building includes 59 flats at affordable rent for Imperial Imperial’s White City Campus houses a rapidly key workers. expanding entrepreneurial ecosystem. It provides a home for local entrepreneurs, world-leading academics, strategic industrial partners, talented Engineering solutions: Currently students, and more than 70 companies ranging from under construction, the Michael Uren Biomedical Engineering Research Hub startups to corporates. will complete in 2019, bringing 600 engineers, scientists and clinicians together in this unique space to address pressing healthcare challenges.

Scale up: the next wave of high-growth, high-tech digital companies ready to scale their businesses will find a home in Scale Space – a collaboration between venture builder A PLATFORM FOR Blenheim Chalcot and Imperial. INNOVATION Better chemistry: With state-of-the-art Improving health: A state-of-the-art spaces for companies to collaborate hub to house Imperial’s School with researchers to address global of Public Health has entered an challenges such as energy, healthcare exciting phase, with a £100 million 10 and sustainability, the Molecular fundraising campaign to support the hectares Sciences Research Hub also provides development of this new space for a new research home for Imperial’s health, wellbeing research, education Department of Chemistry. and community engagement. Co-location: Businesses looking to work alongside entrepreneurs and world-class £2b researchers to turn innovations into new investment in our products and services will find a home in the Translation & Innovation Hub (I-HUB). White City Campus Operated by Imperial College ThinkSpace, I-HUB supports startups and fast-growth companies, established scientific research organisations, and accelerator + programmes. It includes Central Working — £85 m the co-working space for West London’s raised by incubator enterprise community. companies to date 1,300 scientists, clinicians Incubation: Early-stage science companies and engineers on can find office and laboratory space, campus by the end mentoring and support in the White City of 2019 Incubator (page 12). This provides office, On-site talent: Imperial’s laboratory space and support for early- White City community includes stage science companies. 600 Imperial postgraduate students who live on campus in the Wood Lane Studios.

18 REVIEW OF ENTERPRISING ACTIVITY 2017–18 19 Hawkes Jason 2018 by in June taken Photo STUDENT INNOVATORS Drs Andrea Rodriguez Martinez (L) and Ana Luisa Neves set up Momoby to improve access to healthcare for pregnant women living in isolated areas.

Student startups are an increasingly important part of Imperial’s enterprising activity, and their success is reflected by some striking headline statistics.

In 2017–18, a record 41 student startups finalists are invited to bid for a share were incorporated, 180 new jobs were of a prize fund. In the last year, the created, and over £17m investment was WE Innovate and the Venture Catalyst received. The three-year survival rate for Challenge (VCC) grew substantially in companies founded by Imperial students scale and ambition. is 81% compared to a London average WE Innovate, which is dedicated to of just over 50%. Notable student startup women-led startups, expanded with awards are listed in Table 5 (page 27). support from Santander Universities and Professor David Gann, Imperial’s Vice the Swarovski Foundation. In 2017–18, President for Innovation, attributes this it supported 68 women (up from 40 success in large part to the College’s the year before) from a pool of 210 combined strength in STEM and business applicants. Its first prize, increased to – not only the education and research £15,000, was awarded to life sciences training it offers, but also the expanding undergraduate Saujanya Vruddhula for activity on-campus to motivate and her venture Oggic, which is developing support student entrepreneurship. technology to prevent the counterfeiting of drugs. The Enterprise Lab, launched in 2016, is the College’s hub for student With support from sponsor Blenheim entrepreneurship, offering work space, Chalcot, VCC doubled its prize fund MOMOBY facilities, advice and mentoring. to £40,000, awarding a first prize of _ “Students who go through the Lab £20,000 to maternal health venture have a fantastic opportunity to hone Momoby, and supported more teams Momoby is developing an easy-to-use finger prick test that pregnant women their concept from a technical point of than ever before. Dr Ana Luisa Neves, can use to test for diseases known to impact on pregnancy. It aims to view, and learn what it takes to develop Momoby’s co-founder, said “VCC improve the health of mothers and babies in low-income countries, where a business around that idea”, says provided us with the strategic skills to access to prenatal care can be limited. The venture was launched in 2016 Professor Gann. engage with technology partners, clients while co-founders Dr Ana Luisa Neves and Dr Andrea Rodriguez-Martinez and most importantly, the confidence were still completing PhDs (Department of Surgery and Cancer). The pair won The Lab is home to the College’s to promote it and share our passion second prize in WE Innovate 2016–17, and went on to win the first prize in flagship student entrepreneurship about maternal health with other VCC 2018 and third prize in the IDea Incubator at IDWeek 2018, a prestigious support programmes, which help stakeholders.” conference focusing on infectious diseases. They are now seeking further students develop business ideas investment to validate their prototype. through masterclasses and coaching, culminating in showcases in which Continues on page 22

20 REVIEW OF ENTERPRISING ACTIVITY 2017–18 21 STUDENT INNOVATORS IMPERIAL VENTURE MENTORING SERVICE

IVMS IN Enterprising students continued OGGIC NUMBERS The Enterprise Lab has been growing _ as not only a resource but also a 2017–18­ Oggic is the brainchild of community. Dr Evgeniy Donchev was Saujanya Vruddhula, an awarded a PhD in Materials from undergraduate from the Imperial in 2015 and, as an alumnus, Department of Life Sciences. 34 continues to use the Lab to support The venture aims to prevent high profile mentors his non-volatile memory startup, counterfeit drugs entering recruited LoMaRe Technologies. the market by using QR He says: “The Lab wasn’t very well codes printed not just on known in the beginning, but now it has the packaging, but on the + really expanded. I use it regularly to drugs, which are registered 70 work on my company, surrounded by incorruptibly using blockchain. mentoring hours people with like-minded goals, which This could help reduce the From left: Mohit Devgan and Pashiini Supramanian from student startup have taken place motivates me even more. The Lab 300,000 to 500,000 lives lost to each year due to counterfeit drugs. QuickCount meet IVMS mentors Dominiqe Klein and Paul Dowling. team is amazing – a perfect blend of Saujanya was awarded the £15,000 first prize in WE Innovate 2017–18 and skilled individuals who are interested hopes to use it to launch the product in the near future. She said: “I joined in getting to know what you’re doing, the programme with no real idea of what I wanted my business to be. With giving you advice and motivating you. the support of the Enterprise Lab, I’ve created a business which could save 14 active ventures There is definitely a community – the both lives and vast amounts of money for industry.” first time you meet everyone you’re receiving mentoring already part of the family.” While the Enterprise Lab is the College’s main hub for entrepreneurial students, it is not the final destination, The Imperial Venture Mentoring Service (IVMS) was launched 1 venture graduated but an entry point into Imperial’s THINAIR in September 2017 to provide College staff and student from IVMS wider entrepreneurial ecosystem, entrepreneurs with unbiased and expert advice on realising their including the redeveloped workshop _ business idea by developing a startup company. and prototyping facilities at Advanced ThinAir is developing a technology to extract clean water from the air Hackspace, and the incubator efficiently. It is intended to help in humanitarian emergencies and locations + facilities in the Translation & where drinking water may otherwise be in short supply, and will initially be In its first year, the scheme has recruited IVMS progress is being tracked in several £1m Innovation Hub (I-HUB). For the first brought to market for the purpose of optimising dehumidifiers. Since taking 34 high-profile, successful entrepreneurs ways, including broad performance measures private funding raised time, student startups launched in the the venture to the final of VCC 2017, the co-founders, led by CEO Jonathan and investors as mentors, most of whom of the ventures, as well as satisfaction of since January 2018 Enterprise Lab are progressing to the Risley, have completed undergraduate degrees at Imperial and taken up are actively employed. They have worked mentors and mentees, retention and growth White City Incubator, and could soon space in the I-HUB, both in the White City Incubator and Central Working. on a pro-bono basis with 14 ventures of the mentor pool, and scale of interest from progress to leasing their own spaces in They have won a series of prizes, and were finalists in the prestigious that have pitched at the monthly mentor prospective mentees. the I-HUB building. XPRIZE competition that aims to alleviate the global water crisis. They are meetings to be matched with their mentors “I personally was attracted to the idea of 5 currently optimising the technology in readiness for commercialisation. for impartial business advice. competitions won, Professor Gann says: “When you helping highly trained and talented people with prize funding see that pathway of opportunity, it Modelled on the MIT Venture Mentoring founding technology startups out of a world and support worth matches what Imperial wanted to do Service, the Imperial scheme has been set class institution”, says serial entrepreneur over £500,000 and has done at White City, which is up to secure high standards of participation Dr Paul Atherton (Physics 1978), who was create the spaces for companies to from ventures and mentors alike, and is instrumental in setting up IVMS, and now start to be mentored and incubate, closely aligned to the academic mission directs the scheme. “We are here to help and then expand, without having to of the College, by supporting the translation everyone who has the energy and guts to leave the district, so they’re very close of ideas into benefits for society. try, from the established professor to the 2 to the mothership – and I think that’s first year student. We have got off to a flying ventures have Ideal applicants in the first year of IVMS really important.” start and I am very excited about the level of taken up office and have been those that have already shaped interest from prospective mentors and the laboratory space in their initial business idea by participating in flow of amazing new ideas coming through.” the Imperial White one of the College’s core entrepreneurship Find out more: City Incubator programmes, such as Venture Catalyst www.imperialenterpriselab.com Challenge, WE Innovate, or Techcelerate.

Go to www.imperial.ac.uk/enterprise/ivms to find out more about becoming an IVMS mentor.

22 REVIEW OF ENTERPRISING ACTIVITY 2017–18 23 TABLE 1: STUDENT STARTUPS* FORMED 2017–18

Startup Concept Startup Concept BASIC MATERIALS MEDICAL DEVICES Finite A material developed from desert sand with similar structural properties to concrete but less Neuroloom Neuroloom has developed high resolution brain-machine interfaces, with their first than half the carbon footprint. application in restoring sight for people with conditions such as macular degeneration.

Tagless A protective anti-graffiti coating that can be applied to a range of surfaces. It also protects QuickCount A low-cost, hand-held device for point-of-care blood analysis. vulnerable buildings from weathering erosion. CONSUMER PHARMA & BIOTECH Emit A time-management tool that shows people the amount of time left before their next Naturacorp Genetically engineered, dirt-eating bacteria to reduce the use of carcinogens in the dry commitment rather than time as an absolute value. cleaning industry.

Knightsbridge Tutors Knightsbridge Tutors offers a range of tuition services to make learning fun and productive Vigor A glove that provides extra strength to children with muscular dystrophy, mild cerebral palsy for school children. or related neuromuscular diseases. EDUCATION TECHNOLOGY Bawer Services Bawer Services provides educational, engagement and research services, with expertise in BlakBear Innovative sensor technologies for measuring air quality, and applications for food diversity and inclusion. packaging and agriculture. ENERGY BlockClaim BlockClaim is combining AI and blockchain to improve detection of fraudulent claims and reduce claims processing time in the motor insurance sector. Progress Energy Consulting Management consulting services for the energy industry. FINANCIAL SERVICES Boetho Boetho has developed a machine learning based algorithm to predict demand for and optimise occupancy of parking spaces. ApTap This app connects users with their banks and service providers to retrieve bills and manage payments and services with a single tap. Deep Render Deep Render is developing machine learning and computer vision algorithms with applications for compression and rendering systems. OsusuMobile OsusuMobile helps the unbanked and the underbanked save money by making deposits with an SMS-enabled mobile phone. Donaco Donaco facilitates online donations by using AI to place calls for donations from readers next to relevant online articles. Quanterium Technologies Quanterium Technologies is developing a fully regulated digital asset trading platform, incorporating elements of Blockchain technology. Drip Drip has developed a cobot to dispense shots and basic mixers in nightclubs by pouring eight drinks per minute. TRACK An AI-driven tool to help homebuyers make complicated financial decisions more easily and transparently. Dyne London This app increases table turnover for exclusive restaurants by offering users the chance to occupy cancelled/no-show tables within 20 minutes. FOOD & NUTRITION BioKind BioKind ferments agricultural waste to produce sustainable and traceable protein feed for Elemental Elemental is based on the game mechanics of Pokemon to build an educational game for aquaculture, livestock and pets. students to learn about chemistry.

Higher Steaks Higher Steaks uses cell culture techniques to produce lab-grown meat quickly and InAGlobe Education This organisation connects problems identified by NGOs in developing countries with affordably using a scalable process. students in technical universities who work on solutions as part of their degree.

Mela Mela is a service company that provides chocolate bonbons with a bacterial cocktail Lekta Therapy An online therapy platform for improving mental health. specially designed to improve your wellbeing. Loop Party A social event organisation app for people to plan meetups, covering everything from invites Nutribloc Nutribloc is a plant protein-based block of powder that dissolves in a liquid to create a to cost-splitting, music and clean-up. healthy drink or boost a smoothie. NeuroCreate A personal interactive, AI-powered platform with a suite of digital tools to help people INDUSTRIALS become more efficient and productive. Matoha Ultrascience This company has developed a scanner to identify accurately and rapidly what polymer a Pepar This app suggests recipes based on available ingredients from users nearby, encouraging piece of plastic is made from, so it can be sorted for further processing. the creative and social use of high-risk food.

MEDICAL DEVICES Phenomic AI Phenomic AI is developing deep learning solutions to accelerate drug discovery. Gilaasi Gilaasi is working on a patent-pending innovation that enables users to switch from glasses to sunglasses with just a tap of the frame. TELECOMS Meetual Meetual has developed a mobile application that lets users connect their friends with Microsonix Microsonix is working to bring life-saving medical imaging to more people in developing each other. countries with a miniature, low-cost ultrasound imaging device that connects to a smartphone. TRAVEL & LEISURE Balentify Events Balentify events provides conference, exhibition, fair and event services in London. Mitt Mitt is developing an accessible, comfortable, plug-and-play prosthesis to help people suffering from limb loss. For The Love of The Game For The Love Of The Game identifies opportunities to play sports in competitive, social leagues across London. Momoby Momoby has developed an innovative finger prick test to bring antenatal care to women living in geographically isolated areas. *Companies founded to exploit IP from ideas or discoveries made by Imperial students during their degree courses. Motus Innovations A new generation of low cost robotic rehabilitation devices to make rehabilitation technologies more accessible to those who need them most.

24 REVIEW OF ENTERPRISING ACTIVITY 2017–18 25 TABLE 2: IP STARTUPS* FORMED 2017–18 TABLE 4: NOTABLE INVESTMENT ROUNDS FOR IMPERIAL STARTUPS 2017–18*

Startup Concept Startup Amount raised (£M) Context BASIC MATERIALS BASIC MATERIALS Exactmer A new technology platform – Nanostar Sieving – to produce high molecular weight polymers Biomin 0.4 Raised via an internal round. of outstanding purity. Microtech Ceramics 1.25 Develops novel ceramic substrates for the automotive emissions control ENERGY market, closed a £1.25m investment deal. RFC Power New technologies for mitigating issues linked to the cost and limited availability of the raw materials needed for batteries. RFC Power’s unique technology combines optimised cell ENERGY architecture and low-cost chemistry in a hybrid gas-liquid redox flow battery. Bramble Energy 0.6 Bramble Energy is an Imperial / University College London startup that has INDUSTRIALS developed a unique, patent-protected, printed circuit board fuel cell. This utilises cost-effective production methods and materials to reduce the cost Tribosim A tribology simulation and consultancy business. and complexity of manufacturing of proton exchange membrane fuel cells. MEDICAL DEVICES It has recently raised £600,000 from three investors. Accunea Medical device and novel point-of-care diagnostic to provide real-time monitoring TECHNOLOGY of kidney function. FaceSoft 0.46 FaceSoft uses machine learning models for 3D face reconstruction and CEEK Health Ear examination kit. facial recognition. The team has trained its face reconstruction algorithm parameters using a proprietary database of 2.5 million high-resolution 3D Precision Robotics Medical robots have been developed to conduct colorectal oncology surgeries. The platform scans of real faces. The trained reconstruction model enables FaceSoft to will be expandable for other surgeries including oral and gynaecological. create billions of realistic computer-generated faces, far surpassing any VODCA Early cancer detection by breath testing. existing database of real faces. It completed a £150,000 Seed Enterprise Investment Scheme investment. PHARMA & BIOTECH Cagen Cagen has developed self-assembling protein nanocages that can be used to transport and *Based on publicly announced information. deliver drugs within the body, protecting them from premature degradation. TECHNOLOGY FaceSoft Proprietary machine learning models and databases to improve computer-generated 3D face reconstruction and facial recognition.

GraphicsFuzz Specialise in mobile graphics benchmarking tools, including the detection of vulnerabilities in graphics drivers, enabling clients to quickly find and fix bugs that could undermine reliability and security before they affect end users.

*Companies founded to exploit IP owned by Imperial, typically led by academic staff who made the initial discovery. Based on licence of College IP into the company.

TABLE 5: NOTABLE STUDENT STARTUP SUCCESSES 2017–18

Startup Prize / award Context FOOD & NUTRITION Skipping Rocks Lab Undisclosed Sky Ocean Ventures invested in Skipping Rocks Lab edible sachet Ooho. INDUSTRIALS CustoMem £1.2 million Secured Horizon 2020 funding to bring its innovative water filtration system TABLE 3: PROGRESS OF IMPERIAL STARTUPS 2017–18 to market. MEDICAL DEVICES Criteria IP startups Student startups Total GryroGear £1.6 million Secured Horizon 2020 SME instrument funding, to support development of its stabilising GyroGlove for patients with hand tremors. Number of active startups (as of 31st July 2018) 79 122 201 Neuroloom £100,000 Won the 2018 Panacea Stars Accelerators award. Number of listed startups (as of 31st July 2018) 5 0 5 PERSONAL CARE Number of startups acquired by third parties (since 2000) 24 6 30 Polipop Investment funds secured in 2017–18 (£m) 87.5 17.6 105.1 (formerly WithLula) £20,000 Won The 2018 London Mayor’s Entrepreneur Competition. TECHNOLOGY Gravity Sketch £1.2 million Raised from Forward Partners (London) and Super Ventures (San Francisco).

Phenomic AI £1.2 million Raised from US investors.

Quit Genius £1.5 million Won a 2018 Pitch@Palace People’s Choice award. Finished Y Combinator and raised £1.5 million seed round from angel investors.

26 REVIEW OF ENTERPRISING ACTIVITY 2017–18 27 TABLE 6: NOTABLE MARKET ACTIVITY FOR IP STARTUPS 2017–18 TABLE 7: STARTUPS IN THE WHITE CITY INCUBATOR AS OF JULY 2018

Startup Context Startup Context ENERGY BASIC MATERIALS Nexeon Nexeon develops silicon materials for next generation Li-ion batteries. In early 2018 it Polymateria Biodegradable, recyclable, customisable and cost-effective plastics. was awarded £7 million in Innovate UK funding to develop significantly better materials for ENERGY Li-ion batteries. SMAP Energy Smart energy meter data to accelerate the adoption of Energy AI. FOOD & NUTRITION Skipping Rocks Lab Ooho! - the edible, biodegradable packaging developed by Skipping Rocks Lab - is now SweetGen Creating energy from waste water with innovative catalyst technology. being used by Selfridges as part of the department store’s work to eliminate single-use INDUSTRIALS plastic bottles from its shelves and reduce overall plastic pollution. The Skipping Rocks Lab team also received investment from Sky Ocean Ventures. CustoMem Targeted filtering technology for micropollutants. MEDICAL DEVICES HackScience (now Cytera) Harnessing the Internet of Things and web technologies to accelerate scientific research by enabling scientists to create and share affordable lab tools to automate manual processes. EMcision EMcision - the company that developed the Habib™ EndoHPB probe - was acquired by global medical technology leader Boston Scientific. The probe is used by physicians in Hexxcell* Thermo-hydraulic fouling predictions for heat exchangers. the treatment and palliative care of patients living with pancreaticobiliary cancers, which account for nearly a million deaths each year and have limited treatment options. MEDICAL DEVICES TECHNOLOGY MediSieve Drug-free malaria treatment using magnetic blood filtration. GraphicsFuzz GraphicsFuzz specialises in mobile graphics benchmarking tools. In August 2018 it was Smart Respiratory Smart peak flow meter and app for helping asthma patients track their lung function. acquired by Google. PHARMA & BIOTECH Affinity Laboratories Diagnostics and therapeutics through biomarker discovery.

Autolus Ltd Developing novel immunotherapies for oncology.

Axitan Veterinary vaccines and peptides from microalgae.

FreshCheck Quick confirmation of bacterial contamination.

GammaDelta Therapeutics Harnessing gamma delta T cells to improve immunotherapy for diseases including cancer.

MiNA Therapeutics Gene activation mechanisms through small activating RNA.

Pulmocide* Inhaled anti-infectives for targeted treatment of life-threatening lung infections.

Senzer Adjuvant therapies to help alleviate the side effects of cancer and chronic pain.

ThinAir Bringing water to water-scarce communities across the globe. TECHNOLOGY SIME DX (SIME Diagnostics) Realising the potential of photonics and machine learning in clinical diagnostics.

Therapeutic Frontiers* Human rhinovirus experimental infection model for studies in human asthma and Chronic Obstructive Pulmonary Disease.

* indicates an affiliation with Imperial through IP

28 REVIEW OF ENTERPRISING ACTIVITY 2017–18 29 LICENSING REVENUE (£M) AT IMPERIAL COLLEGE LONDON 2013–18

DISTRIBUTION OF INVENTION DISCLOSURES 3.0 BY ACADEMIC DEPARTMENT AT IMPERIAL 2.5

2.0 Medicine 45 1.5 Computing 36 1.0 Life Sciences 29 0.5 Surgery and Cancer 28 0 2013–14 2014–15 2015–16 2016–17 2017–18 Bioengineering 27

Electrical and Electronic Engineering 27 NUMBER OF IP AND STUDENT STARTUPS FORMED Chemical Engineering 24 AT IMPERIAL 2013–18

Dyson School of Design Engineering 22 Number of student-based Number of IP-based startups formed startups formed Mechanical Engineering 21 50 Materials 21

40 Chemistry 18

30 Physics 15

Aeronautics 12 20

Civil and Environmental Engineering 12 10

National Heart and Lung Institute 10 0 2013–14 2014–15 2015–16 2016–17 2017–18 2013–14 2014–15 2015–16 2016–17 2017–18

Mathematics 7

NOTABLE TRENDS

London Institute of Medical Sciences 7 1. Corporate partnerships 2. Inventive output Venture Mentoring Service, business coaching workshops and The bulk of awards still come from Pharma and Biotech Invention disclosures have increased by 13% this year. Patent access to the London ecosystem) and by more sophisticated companies (25% of project count). Energy (22%), Industrials applications filed have also increased, following the steady Enterprise Lab programming (such as the new Venture Earth Science and Engineering 6 (14%) and Technology companies (9%) have overtaken growth over the last six years. Catalyst Challenge programme content). Aerospace & Defence. 3. Licensing Funding: There has been a large increase in funding for startups (as per the scorecard, inside back cover) - primarily Awards from Healthcare Providers punch above their weight The number of new licence agreements signed has stayed down to some more mature companies raising larger funding with £1.14 million in funding across eight projects. Funding steady, along with the cumulative number of active licences Business School 5 rounds, including SAM Labs, CustoMem and Gravity Sketch. from Medical Device companies was also strong with £1.4 held - around 200 over the last four years. Royalty fee income million across 28 projects. has reduced from £3 million to £1.9 million (the five year Survival rate: A higher number of companies survive the first Financial Services companies invested £2.4 million across 23 average for this figure is £2.3 million). The 2016–17 figure 12 months of incorporation as a result of the increased level School of Public Health 2 projects, equating to 4.7% of the total income. included a large lump licence payment from a notable of support offered to post-incorporated companies. Three year survival rate of student startups is currently at 81% compared The vast majority of our industry partners fall within the company exit, making up the majority of the difference, to the London average of 50.1%. wider manufacturing domain (pharma, basic chemicals, 4. Startups 5. Consulting 0 10 20 30 40 50 turbine engines and aircraft) and Mining / Oil and Gas, with a Startups created: There has been a 178% increase in the significant contribution from ICT companies (majority Wireless number of student startups incorporated, compared with There has been a 4% rise in the number of new projects via telecommunications). last year. This significant upward trend is driven primarily Imperial Consultants, a 6% rise in number of clients and by post-programme support (in particular, via the Imperial a continuing trend of increase in new consultants leading projects with a 13% increase on last year.

30 REVIEW OF ENTERPRISING ACTIVITY 2017–18 31 IP STARTUPS STUDENT STARTUPS IMPERIAL CONSULTANTS PROJECTS BY SECTOR 2017–18 FORMED IN 2017–18 BY SECTOR FORMED IN 2017–18 BY SECTOR

Pharma & Biotech 59 15.6% Energy 55 14.5% Education 47 12.4% Professional Services 43 11.3% Infrastructure 31 8.2% Industrials 21 5.5% Aerospace & Defence 19 5.0% Basic Materials 17 4.5% Healthcare Providers 15 4.0% Other 15 4.0% Technology 15 4.0% Financial Services 13 3.4% Automotive 7 1.8% Medical Devices 6 1.6% Sports & Leisure 5 1.3% Food & Nutrition 4 1.1% Media 3 0.8% Telecoms 2 0.5% Medical Devices 44% Technology 34% Pharma & Biotech 5% Personal Care 1 0.3% Technology 22% Medical Devices 17% Travel & Leisure 5% Travel & Leisure 1 0.3% Basic Materials 11% Financial Services 10% Consumer 2% TOTAL 379 100.0% Energy 11% Food & Nutrition 10% Energy 2% Pharma & Biotech 11% Basic Materials 5% Industrials 2% Education 5% Telecoms 2%

INDUSTRY INCOME IN 2017–18 BY SECTOR RESEARCH INCOME FROM INDUSTRY BY COUNTRY OF HEADQUARTER 2017–18

Pharma & Biotech 29% UK 36.3% UAE 0.3% Energy 26% US 14.8% Brazil 0.3% Aerospace & Defence 8% Netherlands 12.5% Finland 0.3% Technology 8% Qatar 6.5% Italy 0.3% Industrials 7% China 5.8% Spain 0.3% Financial Services 5% France 3.8% Canada 0.2% Medical Devices 3% Switzerland 3.5% Iceland 0.2% Basic Materials 2% Belgium 3.0% South Korea 0.1% Consumer 2% Germany 2.7% Australia 0.1% Healthcare Providers 2% Japan 2.6% Other 2% Denmark 1.6% Telecoms 2% Malaysia 1.1% Utilities 2% Sweden 1.1% Automotive 1% Korea 0.8% Food & Nutrition 1% Israel 0.7% Personal Care 1% Norway 0.7%

32 REVIEW OF ENTERPRISING ACTIVITY 2017–18 33 DIRECTOR’S LETTER Imperial College London is one of the world’s leading universities. The College’s , students and , staff are expanding the frontiers of knowledge in science medicine, engineering and business, and translating their discoveries into benefits for our society.

Imperial is the UK’s most international university, according to the Times Higher Education, with academic METRIC      ties to more than  countries. This year, Reuters named the College as the UK’s most innovative university because of its exceptional entrepreneurial culture and ties to industry. RESEARCH INCOME The work represented in this report covers August  - July  . It was carried out by Imperial Research income (£ million)       academics, students and professional services, including the College’s Enterprise Division, Research Office, Commercial research income (£ million) . . .  .  . Research Services and external providers such as Imperial Innovations and its parent companies Touchstone It is a pleasure to report that in the These schemes are delivering it attracted nine companies in its INVENTIVE OUTPUT Innovations and IP Group. The College would like to thank all industrial collaborators, past, present and future, for partnering with us and helping to realise research-based opportunities to improve the quality past year we have launched schemes promising new technologies, from first year, two of which have already Inventions disclosed       of all our lives. to support three key parts of our wireless charged drones to low cost graduated to take up larger labs in the Patent applications  led      community: sensing of sepsis. Incubator. This represents exciting Patents issued       evidence of our ecosystem’s ability to Active inventions in portfolio      • Any Imperial innovator with a Our research collaborations with Patent portfolio      create growth and jobs in biotech and business idea can now pitch for corporate partners continue to grow. clean tech sectors. LICENSING PERFORMANCE support from a team of high-profile It is pleasing to see the launch of  mentors working for the Imperial novel modes of engagement such Taking a group of ten student New licences signed      Invention disclosures licensed      Venture Monitoring Service. as the Agilent Measurement Suite, entrepreneurs from our Enterprise Lab Active licences held      and exciting new projects from as part of Imperial’s delegation to the  • Entrepreneurial early career Licences generating income in the period      long-term partners such as ABB World Economic Forum in Tianjin in Royalties and fees income generated in the period (£ million) . . . . . researchers can now apply for support and AstraZeneca, and new partners September 2018 was a significant move and training from our Techcelerate STARTUP FORMATION such as the Plato Partnership. in our work to grow collaborations with programme, and the MedTech China and internationalise the support IP startups formed      SuperConnector. We also welcome new modes of Student-based startups formed      we provide our student entrepreneurs. engagement with business, such as • Academics can now secure up to We look forward to expanding this work INCUBATION PERFORMANCE the Airports Benchmarking Group in the 95% equity of a startup company in the year ahead, including exploring Startups housed by university incubators      Railway and Transport Strategy Centre, based on their research through the concept of global co-founders for Startups graduated from an incubator     which helps airports around the Founders Choice. our student startups. Active incubator graduate companies      world to establish best practice and STARTUP INVESTMENT improve performance. Optimising our entrepreneurial ecosystem challenges us to review Venture capital acquired by IP startups (£ million)      One of the most gratifying Capital acquired by student-based startups (£ million) . . . . . ENTER practices within College. We continue developments on the White City to explore how we can work more Campus has been the College’s first STARTUP PERFORMANCE effectively with partner communities, shared wet-lab incubator space. IP startups still active      such as investors or entrepreneurial Created in response to requests from Income from sale of shares in IP startups (£ million) – . . . . alumni, to engage you on a regular new startups for smaller spaces and Current turnover of all active IP startups (£ million) . . . . . basis with Imperial’s entrepreneurial Jobs supported directly by IP startups    ,   shared equipment to keep costs down, ideas, students and academics. Student startups still active      Current turnover of student startups (£ million) . . . . . Offering clearer ways for you to New full-time jobs created by student startups      navigate our sometimes complex CONSULTANCY AND TECHNICAL SERVICES organisation is a priority for the year ahead. I welcome any suggestions for Number of projects      Consultancy income (£ million) . . . . . PR I SE how we can work together to match Number of companies supported         Imperial enterprising activity with a Number of lead consultants      corresponding scale and diversity of RATIOS collaboration and support. Invention disclosures per £  million of research income      Dr Simon Hepworth, Director of Patents  led per £  million research income      Enterprise, Imperial College London Patents issued per £  million research income     Licensing and realisation income : research income .% . % . % .% .% IP startups per £  million research income . . . . . Student startups / student population (full-time and part-time) .% . % .% . % .%

Total income from research grants and contracts. Years    have been presented under FRS . All prior years are reported under UK GAAP Source College Annual Report  – . Preliminary figure given for  – .  Figure shown for  –  is preliminary.  Staff invention s.  Priority patent applications (does not include any PCT filings ). Review of  Invention disclosure portfolio (not patent portfolio). Count of invention disclosures with patents .  –  figure corrected from  stated in  –  Scorecard .  The numbers represent the overall College-related IP commercial agreements as formally reported by Imperial Innovations (which includes options, revenue shares, IP assignments and licences). imperial.ac.uk/enterprise  ENTERPRISING ACTIVITY Absolute active licences only.     figure is corrected from 91 stated in the 2016-17 scorecard.  Information is gathered from: Companies House, Crunchbase, Pitchbook, previous startup surveys, Google searches and the Enterprise Lab’s data set. Delivered through wholly-owned subsidiary Imperial Consultants.  –

34 REVIEW OF ENTERPRISING ACTIVITY 2017–18 © Imperial College London  , all rights reserved. For enquiries, please contact [email protected] REVIEW OF ENTERPRISING ACTIVITY 2017-18 35 INSIDE FOLD GUIDE INSIDE FOLD GUIDE FLAP FRONT COVER DO NOT PRINT BACK COVER DO NOT PRINT 208MM WIDE

A dashboard of 100 wonderful, weird (and possibly worrying) ways the world might change in the foreseeable future

Example of organisations active in each area

04 Enterprise at a glance It gives me great pleasure to Imperial’s focus on deep science and HIGH De Ps Ht Hc Da Sp El Vr Co Qt Monit (South Korea), Abena Nova (Denmark),  Blue River Technology (US), Hortau (Canada)  BioTeq (UK), Grindhouse Wetwear (US), Dangerous Digital footprint eraser Personal digital Human head Human cloning & Distributed autono- Space solar power Space elevators Fully immersive virtual Arti›cial We can't talk about Siempre Secos (Spain) Things (US), see also The Eyeborg Project and the technology means that a much higher shields transplants de-extinction mous corporations reality (VR) consciousness this one  Google/Waymo (US), Voyage (US), Nvidia Automotive Cyborg Foundation 06 Corporate partnerships introduce Imperial’s second  Statoil (Norway), Siemens (Germany), Volturn (US), (US), most major auto-makers proportion of our staff and students  DE  DE  HA  HA  DE  SP  SP  DE  EA  UMaine (US)  Alphabet/Google Genomics (US), Amazon (US), Illumina 09 Commercialisation Review of Enterprising  Amazon (US), Google/Alphabet (US), Philips (US), Oxford Nanopore Technologies/Metrichor (UK) are interested in innovation and  Green Skies Vertical Farms (US), Aero Farms (US), (Netherlands), Samsung (South Korea), Dyson (UK), Activity. Our goal is to share entrepreneurship than at many other Neo Farms (Germany), Urban Crop Solutions (Belgium) Miele (Germany), iRobot (US)  CTRL-Labs (US), Emotiv (US), Neuralink (US), maybe 10 Enterprising academics Facebook (US) universities. Ci Le Sa Br Ad Ab Is Ph Th Te  WiTricity (US), Powermat (Israel), Apple/Power By Proxi  Google/Alphabet (US), Amazon (US), Flirtey (US) what the College is doing Conversational Life-expectancy Stratospheric aerosols Battle›eld AI advisors & decision- AI board members Invisibility shields Factory Transhuman Telepathy (US), Qualcomm (US), Mojo Mobility (US), Mopar (US),  No example found 12 Growing businesses machine interfaces algorithms robots making machines & politicians photosynthesis technologies Fulton Innovation (US)  Airbus (France), Boeing (US) in this important area, and While Imperial benefits from a natural  Improbable (UK)  MI  DE  SP  EA  DE  EA  SP  SP  HA  HA  Google/Alphabet (US)  FabCafe (Japan), NASA (US) 13 Imperial consultants groundswell of entrepreneurial  European Organization for Astronomical Research in to continue tracking our  ReWalk (US), Rex Bionics (US), SuitX/US Bionics (US),  SRI International (US) the Southern Hemisphere (European consortium of £¤ endeavour, this activity still requires Ekso Bionics (US), Lockheed Martin (US) countries) 14 Imperial College Advanced performance over time.  Stratasys (US), Autodesk (US) encouragement and support. Our ways of Ss Ip He Mp Dn Gv Qs Cp Ud Rd  Google/Alphabet (US), Samsung (Korea), Hexoskin  No example found Hackspace  NASA (US) We also want to show how Planetary-scale Implantable phones e-tagging Male pregnancy DNA data storage Genomic vaccines Quantum safe Cognitive prosthetics Data uploading Reactionless drive (Canada) Owlet (US), Komodo Tech (Canada), working have had to evolve. In the past, Shi“wear (US), Lechal (India), OM Signal (Canada)  Epicenter (Sweden) and Three Square Market —ŸM (US) spectroscopy of humans & arti›cial wombs cryptography to the brain  Basil Leaf Technologies (US), Dynamical Biomarkers are close 16 Accelerator programmes companies gave us problems to work on Group (US/Taiwan), Scanadu (US) enterprise takes place at  SP  MI  DE  HA  DE  SP  DE  HA  HA 8 SP  The Boring Company/Elon Musk (US), China Aerospace Science and Industry Corporation (China)  No example found and waited patiently for an answer. Now  Starwood Hotels (US), MariCare (Finland), 18 White City Campus Imperial, and the high value Scanalytics (US), Futureshape (Germany) we see new modes of engagement, with  Reaction Engines (UK), NASA (US), Boeing (US),  Twist Bioscience (US) we place on innovation Lockheed Martin (US), Airbus (France)  Flowsky (Japan), Scanadu (US) 20 Student innovators researchers from our corporate partners Gh Ak Rs Em Xx Bh Me Tc Dr Wh  Vaccinogen (US), EpiVax (US), IBM (US),  Deep Space Industries (US), Planetary Resources (US), Juno Therapeutics (US) Predictive gene-based Automated knowledge Autonomous robotic Emotionally aware Humanoid sex robots Human bio-hacking Internet of DNA Thought control - Dream reading Whole Earth  Tesla (US), ABB (Switzerland), Siemens (Germany), and entrepreneurship. coming into our laboratories to work Made in Space (US) 23 Mentoring healthcare discovery surgery machines machine interfaces & recording virtualisation IBM (US), Itron (US)  Alphabet/Google (US), KETS (UK), IDQ (Switzerland), alongside us, and our staff going to work  DE  EA  EA  MI  MI 6 HA  DE  MI  HA  DE Bitcoin (Japan), Ripple (US), Litecoin (US)  Synthetic Genomics/ExxonMobil (US), Global Algae Isara (Canada) 24 Tables Innovations (US), Algenol (US) in corporate labs.  Solarreserve (US), Abengoa (Spain), North China  Darpa (US) Power Engineering (China), Shanghai Electric (China),  Organavo (US), Envision TEC (Germany), RegenHU 30 Figures Zhejiang Supcon Solar (China), NWEPDI (China)  Kernel (US), Neuralink/Elon Musk (US), 2045 Initiative We also organise hackathons to bring Md Sw Mm Pb Et La Sd Lc Pc Sh (Switzerland), Cellink (Sweden), Seraph Robotics (US) (Russia), Darpa (US), General Electric/Braingate (US),  PredPol (US), ECM Universe (US) possibly Facebook (US) 34 Director’s letter staff from businesses together with Mega-scale Self-writing so“ware Public mood monitoring Programmable Peer-to-peer energy Lifelong personal Smart dust Low-cost Planet colonization Shape-shi“ing  HbO2 Therapeutics (South Africa), Biospace (US) desalination bacteria trading & transmission avatar assistants space travel matter some of our brightest minds to work  Pavegen (UK), ECEEN (China)  For example Vantablack by Surrey NanoSystems (UK)  NASA (US), Cannae (US) 35 Scorecard  SP  EA  DE  SP  DE  MI  DE  HA  HA 6 SP Google/Alphabet (US), Joby Energy (US), Altaeros (US),  Apple (US), Amazon (US), Alphabet/Google (US), together on solving specific issues in a   ITER (EU/France), Tokamak Energy (UK), Alphabet/ Kitegen (Italy), Enerkite (Germany) Google/Tri Alpha Energy (US), General Fusion Microso“ (US) focussed way over a short period of time. (Canada), Helion Energy (US), Lockheed Martin (US) 37 Table of disruptive technologies  Pullstring (US), Amazon (US), Alphabet/Google (US),  No example found Nintendo (Japan), Invisible Girlfriend/Boyfriend (US) Mc Sf Dt Se Bf Op Bs Nm Fu Mr  Festo (Germany)  CIA (US) Medical tricorders Smart flooring & Diagnostic toilets Smart energy grids Algal bio-fuels Human-organ printing Arti›cial human blood New materials Fusion power Self-recon›guring  NASA (US) carpets substitute modular robots  Israel Desalination Enterprises Technologies (Israel),  Lockheed Martin (US), QinetiQ (UK), Boston  Alphabet/Verily (US), Amazon (US), Vuzix (US), Acciona (Spain), Fluence Corporation (US) Dynamics/So“bank (US/Japan)  DE  DE  DE  SP  SP  SP  SP  SP  SP  SP Everysight (Israel)  Microso“ (US), Google/Alphabet (US), Open AI (US)  Woebot (US), Pe›n (US), LV (UK)  Elegant Embellishments (Germany), iNova (Spain),  Open Utility/Essent (UK/Netherlands),  Deep Knowledge Ventures (Hong Kong), Tieto (Finland) Studio Roosegaarde (Netherlands), Prosolve —˜™e Knowelsys (China) POTENTIAL FOR SOCIO-ECONOMIC DISRUPTION SOCIO-ECONOMIC FOR POTENTIAL (Germany) Dl Pa Av Id Df Ap Fp Sr Fd Ze  BAE Systems (UK), Toyota (Japan). NB. Big di§erence  Gingko Bioworks (US), US Naval Research Laboratory between optical camouflage and bending light to make Distributed ledgers Precision agriculture Autonomous vehicles Intention decoding Drone freight delivery Autonomous —D-printing of food & Swarm robotics ª-dimensional Zero-point energy  Dstl (UK), Boeing (US) (US), US Army Research Lab (US), Darpa (US) algorithms passenger aircra“ pharmaceuticals materials things disappear  So“bank (Japan), AIST (Japan), Blue Frog Robotics  Open Utility (UK/Netherlands), Power Ledger  DE  SP  EA  MI  EA  EA  SP  EA  SP  SP (France), Care-o-bot (Germany), Riken/Sumitomo Riko  Breakthrough Energy (US), RIPE (US), Joint Centre for (Australia), LO— energy (US), Energy Web Foundation Arti›cial Photosynthesis (US) (Japan), May›eld Robotics (US) (Switzerland)  SENS Research Foundation (US), Methuselah  Amazon (US), Google/Alphabet (US), Philips  Konami Corp (Japan), Mitsuku (UK) (Netherlands), Samsung (South Korea), Dyson (UK), Foundation/Peter Thiel (US) Rc Sc Cm Ro As Rg Wa Eb Bp Be Miele (Germany), iRobot (US)  MOOG (US), Darpa (US) Robotic care Smart controls and Cultured meat Delivery robots & Autonomous ships & Resource gami›cation Water harvesting from Broadcasting Bio-plastics Beam-powered  Facebook (US), Neuralink/Elon Musk (US) companions appliances passenger drones submarines air of electricity propulsion  Impossible Foods (US), Memphis Meats (US), Super  Space X/Elon Musk (US), Blue Origin (US), Virgin  Suicide Machine (Netherlands), Just Delete Me (US) Meat (Israel), Finless Foods (US), New Harvest (US) Galactic (UK), Rocket Lab (US), Axiom Space (US),  MI  DE  SP  EA  EA  SP  SP  SP  SP  SP SpaceIL (Israel), Firefly Aerospace (US)  No example found  Wing/Alphabet (US), Starship Technologies (UK), Volocopter (Germany), eHang (China), Piaggio (Italy)  Space X (US), UAE Mars Mission (UAE), NASA (US)  Turin Advanced Neuromodulation Group (Italy) Cr So Pp Eh Wt Ac Mh Sg Pe Ff  Leidos (US), Boeing (US), Rolls Royce (UK)  Intel (US)  Sooam (South Korea), Revive and Restore (US) Cryptocurrencies Concentrated Predictive policing Micro-scale ambient Airborne wind turbines Avatar companions Metallic hydrogen Smart glasses & Pollution eating Force ›elds  Joulebug (US), Waterpebble (UK)  Kite Pharma/Gilead Sciences (US), Ÿ—andMe (US),  No example found solar power energy harvesting energy storage contact lenses buildings Phenogen Sciences (US), Regeneron (US),  Permalution (US), Sun to Water (US) Veritas Genetics (US)  Rebeam (US), Solaren Corp (US) DE  SP  DE  SP  SP  MI  SP  HA  SP  SP  Powercast (US)  IBM (US)  Thoth Technology (Canada)

 NatureWorks (US), Gruppo MAIP (Italy),  Intuitive Surgical (US), Verb Surgical/Alphabet/Johnson 8 Improbable (UK), HelloVR (US), Magic Leap (US), Genomatica (US), Green Dot Bioplastics (US) & Johnson (US), Da Vinci Surgery (US) Microso“ (US). See also Mind Maze (US), Facebook Sn Dw Va We Bi Px Cc Vt Sj Am (US) and possibly Apple (US)  NASA (US) Smart nappies Deep ocean Vertical agriculture Wireless energy Balloon-powered Powered exoskeletons Computerized shoes & Vacuum-tube Scram jets Asteroid mining  IBM (US), Toyota (Japan), Mimosys (Japan), Persado (US), Joy AI (US) Possibly Alphabet/Google (US) wind farms transfer internet clothing transport  Everledger (UK), Stampery (Spain), Brickblock 

LOW (Germany), Slock.it (Germany) DE  SP 3 SP  SP  SP  HA  DE  SP  SP  SP  Realbotix (US), True Companion (US)  As it says, we can’t say

SOONER TIME* LATER * Time is de›ned as ubiquity or mainstream use not invention

STIMULATING DEBATE Legend How to read entries Themes Ghost Technologies: Fringe science Abbreviation of technology Each of the 100 technologies has been & technology. Dened as highly improbable, subjectively categorised according to Published by Imperial Tech Foresight Imperial Tech Foresight is the College's Examples are purely illustrative and do not ve broad themes, which are: but not actually impossible. Worth watching. in January 2018, the Table of Disruptive dedicated foresight practice, creating constitute any form of recommendation, DE Data Ecosystems Smart nappies Horizon : Distant future  years + (Explore). Description of technology Technologies helps prepare for the future space for business leaders to immerse validation or investment advice. The Table SP Smart Planet by presenting a mixture of prediction themselves at the fringes of disruption, was conceived and created by Richard Horizon : Near future ƒ- years hence DE Theme (See next right) EA Extreme Automation (Experiment). and provocation. It was described by the and explore breakthrough technology Watson, Dr Anna Cupani and the Imperial Examples HA Human Augmentation Financial Times as ‘brave’ and the Business and research through visionary academic Tech Foresight team. Horizon : Happening now (Execute). (See right hand panel) MI Human-Machine Interactions Insider warned it might ‘blow your mind’. perspectives. www.imperialtechforesight.com 2 REVIEW OF ENTERPRISING ACTIVITY 2017–18

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Imperial College London is one of the world’s leading universities. The College’s 17,000 students and 8,000 staff are expanding the frontiers of knowledge in science medicine, engineering and business, and translating their discoveries into benefits for our society.

Imperial is the UK’s most international university, according to the Times Higher Education, with academic METRIC 2013–14 2014–15 2015–16 2016–17 2017–18 ties to more than 150 countries. This year, Reuters named the College as the UK’s most innovative university because of its exceptional entrepreneurial culture and ties to industry. RESEARCH INCOME The work represented in this report covers 1 August 2017-31 July 2018. It was carried out by Imperial Research income (£ million)1 351 436 351 361 364 2 academics, students and professional services, including the College’s Enterprise Division, Research Office, Commercial research income (£ million) 46.0 55.7 53.6 61.1 61.4 Research Services and external providers such as Imperial Innovations and its parent companies Touchstone INVENTIVE OUTPUT Innovations and IP Group. The College would like to thank all industrial collaborators, past, present and future, for partnering with us and helping to realise research-based opportunities to improve the quality Inventions disclosed3 323 296 310 332 376 of all our lives. Patent applications filed4 57 66 73 68 77 Patents issued 98 47 59 49 47 Active inventions in portfolio5 977 1007 1021 1009 1026 Patent portfolio6 373 394 404 405 435 LICENSING PERFORMANCE New licences signed7 27 39 39 46 43 Invention disclosures licensed 34 60 48 86 63 Active licences held8 175 193 202 205 198 Licences generating income in the period9 71 74 70 64 71 Royalties and fees income generated in the period (£ million) 1.6 2.8 2.1 3.0 1.9 STARTUP FORMATION IP startups formed 7 8 6 9 10 Student-based startups formed 8 18 16 23 41 INCUBATION PERFORMANCE Startups housed by university incubators 16 18 13 9 19 Startups graduated from an incubator 2 2 4 10 1 Active incubator graduate companies 15 17 21 31 29 STARTUP INVESTMENT Venture capital acquired by IP startups (£ million) 254 363 114 123 88 Capital acquired by student-based startups (£ million) 0.8 5.0 9.7 5.1 17.6 ENTER STARTUP PERFORMANCE IP startups still active 73 74 70 76 79 Income from sale of shares in IP startups (£ million) – 1.9 1.6 6.6 1.6 Current turnover of all active IP startups (£ million) 45.3 33.6 48.2 80.2 147.3 Jobs supported directly by IP startups 645 814 1,002 974 1273 Student startups still active10 14 29 44 66 122 Current turnover of student startups (£ million) 0.9 1.4 2.8 1.2 2.1 New full-time jobs created by student startups10 65 89 51 40 64 CONSULTANCY AND TECHNICAL SERVICES11 Number of projects 559 549 522 543 550 Consultancy income (£ million) 10.8 9.7 9.3 8.5 9.0 PR I SE Number of companies supported 419 408 414 412 405 Number of lead consultants 297 287 289 284 287 RATIOS Invention disclosures per £100 million of research income 92 68 88 92 103 Patents filed per £100 million research income 16 15 21 19 22 Patents issued per £100 million research income 28 11 17 14 13 Licensing and realisation income : research income 0.4% 1.1% 1.1% 2.7% 1.0% IP startups per £100 million research income 2.0 1.8 1.7 2.5 2.7 Student startups / student population (full-time and part-time) 0.05% 0.11% 0.09% 0.18% 0.22%

1 Total income from research grants and contracts. Years 2015–2017 have been presented under FRS102. All prior years are reported under UK GAAP Source College Annual Report 2016–17. Preliminary figure given for 2017–18. 2 Figure shown for 2017–18 is preliminary. 3 Staff inventions. 4 Priority patent applications (does not include any PCT filings). Review of 5 Invention disclosure portfolio (not patent portfolio). 6 Count of invention disclosures with patents. 2016–17 figure corrected from 429 stated in 2016–17 Scorecard. 7 The numbers represent the overall College-related IP commercial agreements as formally reported by Imperial Innovations (which includes options, revenue shares, IP assignments and licences). imperial.ac.uk/enterprise 8 ENTERPRISING ACTIVITY Absolute active licences only. 9 2016-17 figure is corrected from 91 stated in the 2016-17 scorecard. 10 Information is gathered from: Companies House, Crunchbase, Pitchbook, previous startup surveys, Google searches and the Enterprise Lab’s data set. 11 Delivered through wholly-owned subsidiary Imperial Consultants. 2017–18

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