Oxford University Innovation's 2024 Impact Report showcases a year of transformative research

InnovationMathematical, Physical and Life SciencesMedical SciencesTechnology

Oxford University Innovation (OUI), the technology transfer office of the University of Oxford, has launched its 2024 report Shaping the Future: Oxford's Innovation Impact. Over the past 12 months, OUI raised millions of pounds to fund innovative research and venture creation, filed scores of new patents, and created more than 15 new companies.

The impact report sets out OUI's support to form cutting edge spinouts and the return of millions of pounds to the University of Oxford to fund future innovation and research. The report was unveiled at an Oxford Innovation Society (OIS) event for academic founders and leaders, venture capital investors, industry and ecosystem partners.

According to OUI's preliminary output metrics, between August (2023) and July (2024), OUI and their partners: 

• Raised £19.5m in seed funding 
• Raised £872m in investment for Oxford's companies
• Created 15 new companies, including 10 spinouts, 2 social ventures, and 3 start-ups
• Filed 93 new patents 
• Struck 1,239 licensing deals from health tech to clean energy.

Key achievements over the past 12 months include:

• The launch of Oxford University spinout MatchBio in January 2024 with a £4.5m investment. The company is working to revolutionise immunotherapy to fight cancer, by enhancing T Cell-based therapies.
• A new licensing agreement between Oxford University and biopharmaceutical company Apollo Therapeutics to accelerate the commercialisation of Oxford's biomedical research by developing new therapies at pace. 
• The first deliveries of Oxford's R21 / Matrix-M malaria vaccine in Africa, following a licensing deal OUI negotiated with the Serum Institute of India.
• The purchase of student-led start-up Onfido by global security company Entrust Corp in April 2024. This represents the largest ever student-led company return on investment for the University of Oxford. Onfido uses artificial intelligence to verify customer identities, as well as providing vital fraud detection signals. Over the past year, Onfido has helped prevent $3.9bn in fraud losses for its global client base.
• Samsung Electronics' acquisition of Oxford Semantic Technologies, a spinout which specialised in cutting-edge knowledge graph and reasoning technology.

The report also reveals the growing role women are playing in OUI's commercialisation activities. The share of unique female individuals involved in OUI commercialisation activities rose from 27.8% in 2015-16 to 33.7% in 2022-23. All female or mixed-sex teams involved in commercialisation projects increased from 29.8% to 39.5%. 

Dr Mairi Gibbs, Chief Executive of Oxford University Innovation said:

'Oxford University Innovation remains committed to turning cutting-edge research into real-world solutions for the unprecedented challenges and opportunities of our time.

'Our goal is to support innovators from across the University, ensuring that their ideas can create lasting economic, societal, and environmental impacts. Our future will be shaped by close collaboration between academia, industry, and society - and we are excited to lead the way in building that future here at Oxford.'

Baroness Nicola Blackwood, Oxford University Innovation Executive Chairwoman said:

'As the world confronts increasingly complex challenges, our ability to innovate at speed and scale has never been more critical. Over the past year, Oxford University Innovation has continued to play a pivotal role in transforming ground-breaking research into tangible economic and societal benefits, strengthening our position as a global leader in innovation.'

Professor Chas Bountra, Pro Vice-Chancellor for Innovation at the University of Oxford said:

'As a university we continue to translate knowledge into real-world impact, through support to form cutting edge spinouts, and the return of millions of pounds to the University to fund future innovation and research. Oxford University Innovation's achievements reflect our commitment to pushing boundaries, collaborating boldly, and creating solutions that shape a better future for all. Together we are linking with more than 300 spinouts, supporting our expanding university science parks and generating investment growth through our network of investment partners, driven by Oxford Science Enterprises. This collaboration has fostered remarkable clusters in areas such as life sciences, AI / quantum, space and satellite, autonomous vehicles and motorsport, energy, and publishing, contributing to a world-leading innovation hub here in Oxfordshire. Our aim is to use our talent, networks and ground-breaking research to tackle many of the challenges facing our planet, by creating an 'inclusive innovation ecosystem' which is benefitting everyone in the region.'

The report 'Shaping the Future: Oxford's Innovation Impact' can be found on the OUI website.