Award

NU/1246-6 LABSAFE Commercialisation of university research through provision of management skills to assist in successful spin-out company creation

NEWCASTLE UNIVERSITY

This public procurement record has 1 release in its history.

Award

02 Feb 2018 at 08:42

Award Notice
Summary of the contracting process

The procurement process involves Newcastle University seeking a tender for the position of CEO to manage LabSafe Limited, a new company born from the commercialisation of university research in the financial consultancy services sector. The procurement was initiated with the aim of supporting successful spin-out company creation, with an announced budget of £25,000. The contract period is set to commence on 1st February 2018, lasting until 31st January 2019. Although the tender period ended on 15th January 2018, the award date for the successful bidder, IPHL Ltd, was noted as 25th January 2018, with published results released on 2nd February 2018. The project is centred in Newcastle upon Tyne, within the North East region of the UK.

This tender presents significant growth opportunities for businesses, particularly those specialising in strategic management and consultancy services. Companies with a focus on developing and managing innovative software products, especially in the field of financial consultancy, would find themselves well-suited to participate in this tender process. Given the aim to establish LabSafe Limited as a commercially viable entity, businesses that can demonstrate strong commercial acumen and experience in supporting start-ups are likely to be appealing candidates for the role of CEO.

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Notice Information

Notice Title

NU/1246-6 LABSAFE Commercialisation of university research through provision of management skills to assist in successful spin-out company creation

Notice Description

It is proposed that a CEO be supported to create and manage a company called LabSafe Limited. This opportunity has emerged from the work of an established Durham spinout company, Olexsys Limited which was spun out from Durham Chemistry in 2010. Olexsys developed "LabSafe" software during work adjacent to their main technical activity (X-Ray crystallography) during 2015-17. The Olexsys Board now consider that the LabSafe software has good commercial potential, but it could distract from the core Olexsys mission. They therefore propose that a new company, LabSafe Limited is formed to focus on the commercial exploitation of the software. A CEO designate is therefore required to bring strong commercial skills and leadership to this business. To date the LabSafe product has demonstrated initial sales through provision of a successful product to Durham Chemistry Department and is presently negotiating a contract to roll the product out across the University. Examples of specific tasks for the CEO (not in any particular order) are: * Review the existing business ambitions and formulate a sustainable Business Plan. * Establish Labsafe as an independent business * Raise finance through investment or sales to support general business administration and new staff as identified in the business plan * Secure first new customer sales. Manage sales contracts and customer contacts.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-13b96471-b4e1-4be4-a2ea-8ed26d506ce5
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/a66ea8fd-61c1-4155-a029-c098a780f917
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£25,000 Under £100K
Lots Value
Not specified
Awards Value
£25,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
2 Feb 20188 years ago
Submission Deadline
15 Jan 2018Expired
Future Notice Date
Not specified
Award Date
25 Jan 20188 years ago
Contract Period
1 Feb 2018 - 31 Jan 2019 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NEWCASTLE UNIVERSITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NEWCASTLE UPON TYNE
Postcode
NE1 7RU
Post Town
Newcastle upon Tyne
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC43 Tyneside
Delivery Location
TLC North East (England)
Local Authority
Newcastle upon Tyne
Electoral Ward
Monument
Westminster Constituency
Newcastle upon Tyne Central and West

Supplier Information

Number of Suppliers
1
Supplier Name

IPHL

Further Information

Notice Documents

Notice URLs

Open Contracting Data Standard (OCDS)

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