Helsinki Innovation Services Ltd (HIS) concluded a significant partnership with Xinova, a company focusing on the commercialisation of international innovations, in the beginning of 2018.
The goal of the partnership is to help research results and technology from the University of Helsinki enter the international market. The partnership brings additional resources and expertise to HIS, which HIS will allocate to support the researchers who need them to commercialise their innovations.
HIS will continue to be responsible for evaluating invention disclosures at the University of Helsinki, but may also consult Xinova experts in the evaluation.
The final decision for turning an innovation into a business will be made by the University’s Commercialisation Advisory Board, CAB, based on a proposition prepared with HIS.
If a business is established, Xinova’s contacts provide excellent opportunities for reaching international investors, recruiting key personnel and finding corporate partners. Xinova’s cooperation networks also provide corporate cooperation opportunities for the University’s research groups.
Even though Xinova may itself invest in companies arising from the University’s innovations, the doors will always be open for other investors as well.
The partnership carries no obligation for the University or its researchers regarding the commercialisation of new innovations. Instead, for innovations that enter the commercialisation process with HIS in cooperation with the researchers, the partnership offers an excellent network of contacts to international investors, prospective partners and potential clients on the global market.
The University of Helsinki’s spin-out companies will continue to be established in Finland, even if the investors are international.
The partnership between HIS and Xinova has a term of two years.
Xinova is a collective of 12,000 innovators dedicated to turning big problems into bigger solutions. Xinova works with companies all over the world to bring innovation to the marketplace. By sharing risk and the upside, Xinova attracts the best innovators from across the globe. This innovation risk-sharing approach is more efficient and increases the speed to market for Xinova’s partners. The company is headquartered in Seattle with staff located in Beijing, Bangalore, Helsinki, Israel, Seoul, Singapore, Sydney, Tokyo and Vienna.
Read the press release: New Partnership Boosts University of Helsinki Research Commercialization