University governanceEnterprise and Investment Committee

Enterprise and Investment Committee

The Enterprise and Investment Committee (EIC) reviews the commercial investment proposals presented by the University’s Commercial Investment Team and makes recommendations on investment in companies created by University staff and students, as well as license deals and other commercial joint ventures.

The EIC operates in accordance with the University’s investment activity objectives, strategy and policy:

Investment objectives:

  • To achieve commercial returns on investment from a portfolio of high growth potential, companies based on the expertise, capability and IPRs of Strathclyde’s staff, students and alumni;
  • To grow a thriving ecosystem of entrepreneurially-driven, knowledge-based companies around the University of Strathclyde and its associated Innovation Districts in the West of Scotland, in support of the University’s strategy for World Leading Innovation & Impact.

Investment strategy:

  • The investment strategy is to provide patient finance into early and mid-stage knowledge-based high-growth potential companies associated with the University as part of syndicated investment rounds, typically up to and including the Series A stage.

Investment Policy:

  • The Investment Policy is to consider investments in (i) all types of knowledge-based spin-out and start-up companies based on the expertise and/or IPRs of University staff, students and alumni, irrespective of whether the University already has a shareholding; and (ii) other companies whose growth depends on knowledge-based collaboration with Strathclyde and which will form part of Strathclyde’s innovation cluster(s).

Terms of reference

The Committee’s purpose will be to:

  • To review commercial investment proposals presented by the University’s Commercial Investment Team and to make recommendations on investments in companies created by University staff and students, as well as license deals and other commercial joint ventures;
  • To review commercial investment proposals presented by the University’s Commercial Investment Team and to make recommendations on investment in companies with a strategic relationship with the University;
  • To undertake an annual review of the University portfolio of shareholdings and make portfolio management recommendations;
  • To undertake a quarterly review of the University’s deal-flow pipeline of potential commercial investments (staff & students) and make recommendations to the University’s Commercial Investment Team;
  • To undertake an annual review of the University’s management of commercial investment capital & fund management, licence deals, joint ventures and other venturing arrangements and make recommendations;
  • To oversee the management of the Strathclyde Entrepreneur’s Fund;
  • To participate in an annual strategy session on the University commercial investment approach to review commercial investment operations and performance and its contributions to relevant University initiatives;
  • To provide advice and support on a case by case basis direct to University portfolio companies;
  • To support University commercial investment activities and related initiatives through attendance at University and University-related events;
  • To promote the University commercial investment activities and related initiatives to relevant interested parties, including, investors, advisors, Government Ministers and public policymakers;
  • To report to Court on the activities of the Enterprise and Investment Committee on a regular basis, including the production of an annual report.

 Composition

  • A Lay Member of Court (in the Chair)
  • The Chief Commercial Officer ex officio
  • The Principal ex officio
  • The Chief Financial Officer ex officio
  • The Treasurer ex officio
  • At least one other member of Court
  • Such other members that the Committee may wish to co-opt because of their expertise, either members of Court or individuals external to the University.

Quorum

At all meetings of the Committee, a presence of at least two ex officio members, one other lay member of Court and 2 co-opted members shall constitute a quorum for the transaction of business.

Period of Office

Members of the Enterprise and Investment Committee, other than ex officio members and lay members of Court, shall be appointed for an initial period of up to three years from the 1 August following their date of appointment and shall normally be eligible for re-appointment twice.