Manchester hi-tech specialists back Lancaster business
Manchester Technology investment specialists, MTI Partners, has announced its latest investment through the UMIP Premier Fund (UPF) in North West start up CableSense Ltd.
The company has developed an innovative new approach to managing large scale, wide structured cabling systems, and MTI has made a £500,000 investment deigned to accelerate the delivery of its proposition to market.
CableSense’s solution is differentiated by being readily retro-fittable at a low cost to existing cabling installations. The system’s utilises CableSense’s proprietary technology for network cable monitoring, scanning and mapping.
This substantially reduces all the cost elements of maintaining and running a network, including the cost and complexity of moves, making additions and changes, fault indetificaion and diagnosis, inventory management and capital expenditure through the identification and re-use of redundant equipment and capacity.
Over recent years CableSense’s founders have collaborated with the University of Lancaster and the School of Electronic and Electrical Engineering at the University of Manchester with support from the high competitive TSB Technology Programme.
Lancaster based CableSense also received a £100,000 Proof of Principle investment earlier this year through UMIP’s well regarded technology transfer and incubation process, and has now graduated to a full UPF investment.
John Kelly, the founder and Technical Director of CableSense said: “MTI’s investment provides a fantastic platform for CableSense to deliver its product to the market and prove its business model.
John Continues: “Both MTI and UMIP have worked hard to help us put the corporate structure and commercial foundations behind this business, and with our technical approach I’m confident that we can fill a substantial gap we’ve identified in the market”
MTI Partners Investment Manager Mark Rahn said: “CableSense is living proof that it is possible to build high-tech, high-growth start-up companies through all North West corporate and multiple university collaborations.
“It also demonstrates that it is possible develop a healthy, commercially viable product and business model in less than a year via UMIP’s process.”
Mark concludes: “MTI knows that the future success of CableSense’s technology lies in its simplicity, and if positioned properly in the market, has enormous potential.”
CableSense forms part of the growing cluster of high-tech companies across the North-West region supported by MTI and the UPF fund.
A team led by Prof. Tony Peyton from the University of Manchester School of Electrical and Electronic Engineering has been shortlisted in The Engineer Technology & Innovation Awards 2009.
A submission by UMIP Licensing Manager Simon Clarke for the project ‘Advanced Microstructure Analysis using Induction Spectroscopy (AMAIS)’ was shortlisted by the judges in the Process & Production category.
The submission was based on the work to develop and commercialise the AMAIS project by a consortium of academic and industrial specialists from The University of Manchester, UMIP, the University of Birmingham, the steel producer Corus UK and technology provider Organised Technology Ltd.
AMAIS presents a solution for steel producers to the unsolved problem of continuously monitoring and controlling material properties during hot-rolling.
The novel, cost-effective solution which the team has developed involves the use of advanced signal processing and instrumentation, modelling and analysis of the effects of microstructure on the electromagnetic properties of steel during controlled cooling. It also has the possibility of applications in other fields.
Tony, Simon and the team now await the Awards ceremony lunch at The Royal Society in London on 4th December to find out if they have won. Good luck!
University of Manchester Professor, David Sandoz thanked UMIP recently when he collected the prestigious Sir Harold Hartley Medal from the Institute of Measurement and Control.
The medal is awarded by the Institute to a person whose contribution to the technology of measurement and control is considered to be of outstanding merit. The award to Professor Sandoz was in recognition of his long-standing involvement with control engineering and the exploitation of condition monitoring and control engineering methods for batch processes.
The University assisted Professor Sandoz in creating several successful spin-out companies which commercialised his engineering achievements including Predictive Control Ltd, Control Technology Centre Ltd and more lately Perceptive Engineering Ltd.
As he collected the award Professor Sandoz said: “None of this would have been possible without the long-standing support from The University of Manchester and in particular from the various University companies, Vuman, Manchester Innovation and finally UMIP – and I would very much like to thank the University for that.”
It was celebrations all round recently as UMIP enters its sixth year whilst sister firm UMIC celebrated the tenth anniversary of The Manchester Incubator Building and its own fifth birthday. The two organisations came together for a joint event at the CTF building on Grafton Street on September 23rd which was headed by Sir William Castell, Chairman of the Wellcome Trust.
During the event, UMIC and UMIP took stock of the achievements following five years of successful bioscience and technology commercialisation and incubation since the 2004 creation of the new University of Manchester. UMIP is widely recognised in the UK and beyond for the quality of its IP management, with the University investing over £1.5 million in ‘proof of principle’ bioscience projects alone.
UMIP Chairman Peter Sanderson addressed the delegates and said: “In addition to helping to secure over £35 million for various sources including share sales and IP grants, UMIP has built a share asset value of £9 million, represented by 20 spin-outs employing over 500 people. These spin-outs alone have an annual combined sales turnover of £17 million, and they’ve also placed about £2 million of research contracts with the University. We currently manage over 150 licence and patent cases, and there’s a very strong pipeline of more to come. UMIP working together with The University of Manchester and UMIC has certainly had five years of positive impact in the northwest region and beyond, and we are looking forward to the future.”
Sir William Castell’s plenary address took note of the global economic drivers for new technology and commercial opportunities in food security, bio-fuels and clean technology, with Manchester in good shape to capitalise on these opportunities through its business incubation and research commercialisation activities. Sir William also paid tribute to what UMIC had helped to achieve in the past ten years, pointing to the breaking on the day news of DxS’s £80m acquisition by German diagnostic testing giant Qiagen.
The Manchester Incubator Building provided the first dedicated facility for biotechnology firms starting up in the northwest region. Thirty three bioscience companies are trading from UMIC’s facilities, and have created more than 850 high-value jobs. Bioscience now represents a significant area of economic activity in the northwest, attracting in excess of £300 million in financing and investment deals. Dr Martino Picardo UMIC’s managing director commented: “The event has showcased to local and national audiences what vision, focus and hard work can achieve. From the vision in 1999 that Manchester should build and develop world-class biotechnology businesses and facilities to the numerous success stories and wealth creation that our bio-entrepreneurs represent to the city and to the northwest region.”