Citrosol immersed in an investment fund to finance projects of spin outs
Twenty public and private investors support this financing instrument supporting the most innovative and highest projection of university level initiatives. Equipped with 6 million euros in a horizon of seven years, has already been presented at the Polytechnic University of Valencia venture capital fund, TECH Transfer UPV, which has become part Citrosol.
This new fund for technology transfer, which will be as manager of the firm Clave Mayor society, follows the model of successful investment funds of the University of Oxford, whose endorsement the momentum in creating a hundred young companies linked to the university, which have generated 5,000 jobs and achieved returns for investors.
Citrosol participate in this fund, Tech Transfer UPV, registered with the CNMV this past January, along with other institutions, public and private investors with the aim of supporting projects added value generated in the vicinity of the Polytechnic University of Valencia and they need of a financial boost for crystallization in the market.
Citrosol thus promotes the most innovative projects of the UPV, supporting them in their most critical time, that is, in its genesis and initial development. As Benito Orihuel, CEO and Scientific Company, explains the entry into this fund responds to the commitments of corporate social responsibility Citrosol: “The commitment to innovation is the basis of the work philosophy of our company so through the Tech Transfer UPV put in value this philosophy also give encouragement to projects with the greatest need of financial support to get ahead, proyectosnacidos in our immediate environment and thus respond to our CSR “.
The 21 technology initiatives under the umbrella of the fund belong to different sectors, such as food and agriculture (microbiology and food), LifeScience (biotechnology and medical devices), cleantech (renewable energy and new materials), telecommunications (HW and SW, networks, e-commerce, Internet of things), and engineering (electronics, robotics and mechanics). “Delve into these other fields of knowledge has also been one of the reasons that have encouraged us to form UPV partedel Tech Transfer” adds Orihuel.
6 million, 7 years
Tech Transfer UPV invest in 21 projects (spin outs) knowledge and technology, viable, which are novel in that differential factors contribute based on their innovation, generating competitive advantages and therefore to be enduring in time. This investment fund has 6 million and a time horizon of 7 years.
This fund or vehicle follows a model and pioneer new investment, which seeks to integrate support financially the spin outs to entering the market; with a model of proximity and co-investment with other public or private investors; with incubation services and advice on technical matters and management to successfully reach the market.
Twenty investors
This new financial instrument brings together a dozen investors, including the Generalitat Valenciana. Your manager is the Valencian society, Clave Mayor, directed by Pedro de Alava, and a dilated experience in these types of funds with other Spanish universities.
The details of this new financing instrument to promote technology transfer projects will be released on Thursday March 3 at the Auditorium “Blue Cube” at the Polytechnic University of Valencia. In this event the vision of industrialists and entrepreneurs will be offered, the experience of the funds of the University of Oxford and technology companies UPV environment.
Source: Citrosol
