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Spin Outs Create New Businesses
New, technology led companies, are creating exciting business growth points.
Since it's establishment in April 2000, Warwick Ventures, based on the University of Warwick Science Park, has been instrumental in creating fifteen new spin out companies. The businesses, all developed on the University's intellectual property, are highly innovative and six of them have taken accommodation on the Science Park.
Typical of these new businesses is Warwick Effect Polymers Ltd. Established in October 2001, the company has recently moved into purpose built state-of-the-art laboratories on the Science Park. It specialises in creating 'designer polymers' primarily for the bioscience and personal health care markets.
Professor David Haddleton, WEP's founder and CEO explains, "We live in a polymer age. Bottles used to be all glass, furniture all wood and carpets made of wool. Now, increasingly, polymers are used instead." The technology, developed through years of research, allows for the precisely controlled production of a vast range of complex polymers. David adds, "Previously-these polymers could only be made under stringent laboratory conditions using sub-zero temperatures and extremely pure chemicals-now our technology allows production in undemanding conditions."
The new technology is patented and the company has an exclusive licence agreement in addition to on-going research projects tailored to customers' specific needs. The application of the technology is immense. For instance polymers can coat stomach ulcers to prevent pain or coat an eye to prevent infection and promote healing as well as improving inkjet printer ink.
Tom Webster, Deputy Director of the University of Warwick Science Park, comments, "Warwick Effect Polymers is a prime example of a technology stemming out of university research and creating an exciting business with clever new products. It's good news for the University and the region's economy."
Cliff Cotterill - 5/8/2003
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