Chancellor
Chancellor Jeremy Hunt, the Chancellor of the Exchequer, was among a number of government ministers to visit UCL East today to mark the publication of the Independent Review of University Spinout Companies. Also attending the event were university leaders, investors, spinout founders, and heads of technology transfer offices (TTOs), which are responsible for commercialising university research. The review, whose recommendations the Chancellor accepted in full, provides best practice, "innovation-friendly" guidelines that aim to make the UK the best place in the world to start a spinout company. Ahead of the Autumn Statement on Wednesday, the Chancellor also announced £20 million for university-created businesses. The Chancellor was joined at UCL East by Michelle Donelan, Secretary of State Science, Innovation and Technology, and Andrew Griffith, Minister for Science, Innovation and Technology. The Chancellor was given demonstrations of three successful UCL spinouts - Kit-AR, an augmented reality technology platform which improves production processes and quality control by guiding assembly workers in real time; Tenpoint Therapeutics, which uses pioneering cell engineering to tackle age-related or inherited sight loss; and CarbonRe, which uses AI technology to help heavy industry cut its emissions. Ministers were welcomed by Dr Michael Spence, UCL President & Provost, Professor Paola Lettieri, Pro-Provost (UCL East), and Dr Anne Lane, CEO of UCL's technology transfer office, UCL Business (UCLB).
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