Award

(NU/1433-32) mignon.ai: 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

08 Jul 2022 at 08:42

Award Notice
Summary of the contracting process

The procurement process involves Newcastle University, which is seeking to commercialise its university research through the establishment of a spin-out company named mignon.ai focused on developing a novel AI microchip architecture. This tender, titled "(NU/1433-32) mignon.ai: Commercialisation of university research through provision of management skills to assist in successful spin-out company creation," is classified under the industry category of business and management consultancy. The tender was awarded on 4 July 2022 and is set to run from 6 July 2022 to 31 October 2022. The procurement method used is selective, specifically a restricted procedure, with a total contract value of £29,040. This tender presents significant growth opportunities for businesses, particularly those with expertise in business consultancy and management, as Newcastle University seeks an experienced executive to guide the spin-out process and secure venture capital funding. Companies specialising in business planning, company formation, and financial management would be well-suited to compete, particularly small and medium-sized enterprises (SMEs) that can provide tailored support for innovative technology ventures. This is a chance for businesses to play a pivotal role in bringing cutting-edge AI technologies to market while benefiting from a strategic partnership with a leading educational institution.

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Notice Information

Notice Title

(NU/1433-32) mignon.ai: Commercialisation of university research through provision of management skills to assist in successful spin-out company creation

Notice Description

Newcastle University have developed a novel Artificial Intelligence (AI) microchip architecture which is uniquely underpinned by logic-based AI. The microchip named mignon was fabricated in early 2021 and this work was led by Dr Rishad Shafik and Professor Alex Yakovlev of the Microsystems Group, School of Engineering at Newcastle University. The aim is to create a Fabless IP based spin-out company mignon.ai which will market and sell the design of customised hardware devices and semiconductor electronics systems all based on the mignon microchip. The company mignon.ai will develop and design the microchips and supply codes to clients to enable the synthesising of microchip, where all manufacturing of hardware will be outsourced. The team requires an experienced and appropriate business executive to progress this opportunity. The initial brief of the executive will be to: (1) Produce a viable 5 year business plan; (2) Obtain university approval for the venture; (3) a. Act for the company in the spin-out legal process and address all company formation matters; b. Obtain founder academics' and Newcastle University (including the Head of Company Creation) approval for appointment as CEO. c. Provide to the appropriate university all matters necessary for Research England reporting requirements; (4) Secure (venture capital and other) funding Stage (5) will produce the funds by which the new start-up company can consider employing the executive going forward. It is expected, and the intent of the scheme, that the Executive will remain with the business following the end of the contract period. However, such appointment will be at the discretion of the board and appropriate university and will be subject to confirmation, typically at Stage 4 above.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-413be814-af25-4425-bd50-d21f245a9e47
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1cd67800-320c-48cd-b0b9-28f88cef1def
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
£30,000 Under £100K
Lots Value
Not specified
Awards Value
£29,040 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
8 Jul 20223 years ago
Submission Deadline
10 May 2022Expired
Future Notice Date
Not specified
Award Date
3 Jul 20223 years ago
Contract Period
5 Jul 2022 - 31 Oct 2022 1-6 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
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

CAMBRIDGE FUTURE TECH

Further Information

Notice Documents

Notice URLs

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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