UMI3 Ltd, The University of Manchester’s innovation company, has announced that Jason Stockwood, Group CEO of Simply Business, has been appointed as non-executive director.
UMI3’s role is to bring as much of the University’s ground-breaking inventions and software into the commercial world. This is done principally by attracting entrepreneurs, investors and corporate venture partners to the University’s campus and Innovation Centre and then, through engagement with academic colleagues, licensing or spinning out companies.
University spin-outs have produced “firsts” in scale-up of technologies with commercial applications, from quantum dot manufacture (Nanoco) to the treatment of radioactive waste (Arvia).
Jason Stockwood joined this month as a non-executive director and chairman of the project development committee. As part of his appointment to UMI3, he will be reviewing progress of UMI3’s spin-outs and licence opportunities and will be reviewing proposals for investment by the University in new IP projects. He will be also working on the introduction of an enterprise culture to help generate greater impact from UMI3’s work and will be involved with the University’s Innovation Centre, UMIC, which provides lab, office and events space for innovative spin-outs and start-ups.
Stockwood is the Global CEO of Simply Business, one of the UK’s largest business insurance providers and a pioneering fast growth insurtech firm that has disrupted the industry through harnessing data and technology. Since joining in 2010, Stockwood is responsible for scaling the business to cover more than 425,000 customers, driving its global expansion, with its US office having opened last year as well as successfully leading the company through investment and acquisition.
Jason Stockwood said: “It’s an honour to join the Board of the University of Manchester’s Innovation Company, a world-leading hub for technology and innovation that is committed to supporting the growth of ambitious startups.
“I am fascinated about the wealth of new opportunities at our fingertips when we unleash the full potential of our talent and technology. I look forward to working closely with the next generation of innovators, helping review the progress of spin-outs and licences as well as new proposals for investment by the University in original IP projects.
“We are entering a world where every company will on some level be a technology business. The impact of digital disruption is immeasurable and The University of Manchester’s Innovation Company has a vital role to play in nurturing ground-breaking ideas and providing spin-outs with the support and access to funding that they need in order to scale.”