| University Challenge Fund comes to the rescue |
| Written by Business Weekly | |
| Thursday, 25 March 2004 | |
|
The £4m University Challenge Fund is filling a critical seedcorn funding void for Cambridge University spin-outs, writes Alice Walker.
The £4m University Challenge Fund is filling a critical seedcorn funding void for Cambridge University spin-outs, writes Alice Walker. It invested £711k in eight separate ventures during 2003, marginally down on the £757k invested in 2002, but an excellent track record considering the general market malaise. The University spin-outs that attracted funding last year were:- • Avocet, which is developing an HIV treatment • CamFridge, developer of a novel magnetic refrigerator • Hypertag, pioneering the use of mobile devices as marketing tools • Ampika, which has developed a database of medicinal Amazonian plants • Cambridge Lab-on-Chip, the inventor of microfluidics technology • Vivamer, which has developed responsive polymers for drug delivery and imaging applications • Metalysis, which has developed technology capable of making metal production cheaper • Blue Gnome, a bioinformatics company • DanioLabs, a drug discovery company The Challenge Fund has now invested £2.3m of its total funds. |
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