The SETsquared Partnership has launched an open-access resource designed to accelerate and simplify university research commercialisation, helping investors identify and engage with spin-outs more efficiently.
Funded by Research England and developed in collaboration with investors, legal experts, and university commercialisation teams, the Deal Readiness Toolkit addresses common barriers in research commercialisation, including inconsistent terms, complex legal processes, and slow deal-making.
SETsquared's six university partners – Cardiff, Bath, Bristol, Exeter, Southampton, and Surrey – have a combined research portfolio worth over £600 million and between them have created 230 spin-out companies.
The Toolkit provides a comprehensive suite of resources, including:
- Playbooks: Step-by-step guides explaining the why and how of commercial deals, ensuring investors and founders can navigate processes efficiently.
- Templates: Lawyer-reviewed legal documents for use across all stakeholders in a commercial deal.
- Checklists: Practical tools to ensure all critical elements are considered during negotiations and due diligence.
The Toolkit aims to reduces risk and uncertainty for investors engaging with early-stage university spin-outs. It helps establish fair, transparent terms from the outset, creating a smoother path from initial interest to signed deal. Investors benefit from greater confidence in deal quality and faster time-to-investment, while founders can focus on building high-growth ventures.
The Deal Readiness Toolkit also directly addresses Recommendation 1 of the UK Government’s Independent Review of University Spin-outs (2023), which called for a co-developed, sector-wide resource providing standardised templates for term sheets and other key agreements to accelerate deal-making and improve consistency across the spin-out landscape.
Diana Galpin, Director of Enterprise and Knowledge Exchange, University of Southampton, said:
“We designed the Toolkit to streamline deal-making and create clarity for all parties. Investors often encounter inconsistent terms or unclear processes, which can delay spin-outs. This Toolkit provides a standardised, market-aligned approach to reduce uncertainty and accelerate deals.”
The Toolkit has been co-created with legal professionals, venture investors, academics, and technology transfer teams, ensuring it meets the practical needs of the investor community. Pilot implementations across SETsquared universities have already shown faster engagement and smoother negotiations with spin-outs.
The Deal Readiness Toolkit was part of the wider IMPACT-IP programme, which also supported researchers in developing commercial acumen through initiatives such as the Commercialisation & Innovation Fellow scheme.
Investors, academic founders, and technology transfer offices are encouraged to explore the Toolkit and provide feedback to help refine future developments.
