Insights
Manchester University spin-out doubles its funding with a further £500,000 boost for green innovation
University of Manchester spin-out Molymem has doubled its funding to accelerate the creation of to greener and cheaper water filtration solutions.
Molymem which spun out of The University of Manchester in December 2022 with SEED equity of £500,000 led by Cambridge Angels has doubled its funding runway to over £1m with a further new investment from Green Angel Syndicate and Manchester based GC Angels.
Molymem has a mission to enable cleaner water for the world’s growing demand and has developed an energy-efficient and highly versatile membrane coating to support this. This breakthrough technology promises to be both greener and cheaper. The company will be using the extra investment to help accelerate its business development plans, scale the technology platform and build out the team.
The technology comes from research and patented technology led by Prof. Rob Dryfe and Dr. Mark Bissett, at The University of Manchester, working in partnership with innovation experts at the University’s Graphene Engineering Innovation Centre (GEIC). The SEED funding to date of £1m has all been via angel investors with the initial round in December 2022 lead by Cambridge Angels and the follow on headed by the Green Angel Syndicate.
Ray Gibbs, Chairman and Director at Molymem, said “This additional funding will enable the company to quickly scale operations and deliver on its mission. The Angel investor confidence in the core team, the technology and the market need for our solution is a powerful endorsement for the Molymem business.”
Dr. Mark Bissett, Chief Scientific Officer and Co-founder Molymem Limited, & Reader in Nanomaterials, Dept. of Materials (University of Manchester) said “This additional funding will allow us to accelerate our R&D program and expand to other 2D materials also covered in our patented technology, while also increasing the speed of our scale up of the technology.”
Richard Lydon, a leading filtration expert and senior advisor to Molymem during its funding cycle will become the company’s new CEO. He said: “This is great news for an emerging innovation in the membrane space and the company is already started to engage with OEMs and end users. Climate change is driving the need for new solutions in membrane technology and Molymem goal is to work with the existing supply chains to bring a retrofittable membrane coating solution to market. More resilient, longer life and anti-fouling membranes will be required to maintain and improve water quality, reduce pollution, address Net Zero and build solutions for the developing world.”
Marc Shirman, Head of Investment at GC Angels said: “The lack of pre-revenue investors in the UK remains a challenge for our early-stage ecosystem. GC’s investment in Molymem’s innovative nano-technology illustrates our commitment to pre-seed investment. Molymem’s particle filtration membrane product has the potential to solve the global problem of access to clean water for the disadvantaged parts of the world.”
“GC were able to follow management’s journey at the GEIC leading to the commencement of commercialisation of their intellectual property. As lead investor, GC co-invested with Green Angel Syndicate combining to deliver both investment capital and industry focused business support to enable the management team to rollout of this innovative product internationally.”
Paul Anson, a member of Cambridge Angels and recently joined as NED of Molymem said, “We are delighted to be involved as the lead initiator for funding of Molymem. We like the business model and commercial approach taken by what is ostensibly a University Spin-Out. This first tie up makes a strong strategic link between Manchester and Cambridge to enhance co-investment between different funding groups and the hope of more to come.”
The University of Manchester rated highest for spin-out growth
The University of Manchester has shown the greatest growth among UK universities in the proportions of its spinout populations in the past two years.
According to The Royal Academy of Engineering’s annual report Spotlight on Spinouts 2023, this growth can be attributed to The University of Manchester’s rapid increase in the amount of IP-rich research it has helped to commercialise in recent years.
Instead of concentrating on universities with the greatest number of spinouts, the report highlights universities that have rapidly expanded their spinout populations by tracking activity since 2011.
It finds there have been a total of 84 companies spun out from The University of Manchester, including six exits: three have been acquired and three have had Initial Public Offerings (IPOs). Of the 84 companies, 39 have received equity investment since 2011 via 105 deals, raising a total of £478m.
This is the third edition of an annual report that showcases the state of the UK’s spinout economy. Compiled by Beauhurst, this report offers a comprehensive analysis of the UK spinout landscape.
Maria Dramalioti-Taylor, enterprise committee member at the Royal Academy of Engineering and founding partner at Beacon, says: “Spotlight on Spinouts 2023 is an essential read in the context of the UK government’s ambitions to become a ‘science superpower’ and the creation of the new Department for Science, Innovation and Technology.
“The government has recognised the key role that spinouts play in the economy, with the publication of the Science and Technology Framework committing to strengthening the spinout pipeline…The data presented in our annual report is a valuable part of the evidence needed to address these priorities.”
The University of Manchester’s research commercialisation is undertaken by The Innovation Factory, the University’s Technology Transfer Office (TTO).
Innovation Factory CEO Andrew Wilkinson says: “This independent report into university TTOs’ performance shows the great strides that the University of Manchester is making in commercialising IP-rich research that has real-world benefits to society in general and the north-west’s regional and UK’s national economies.”
UK Biobank will move to Manchester Science Park following £127.6m funding from UKRI
UK Biobank, the world’s most significant source of data and biological samples for health research, is set to receive £127.6m to fund a move to a larger, faster, and more efficient, purpose-built facility at Bruntwood SciTech’s Manchester Science Park. This follows an application by the Medical Research Council to the UK Research and Innovation (UKRI) Infrastructure Fund to support UK Biobank’s development.
UK Biobank’s biological samples, laboratories, headquarters and around half of its 250 staff will move to the new facility.
The funding will cover a latest-generation robotic freezer that stores and retrieves 20 million biological samples that have been donated by UK Biobank’s 500,000 volunteer participants.
The facility is being developed with the support of The University of Manchester, and will enable new projects to turn the samples into data and drive discoveries into how to prevent and treat a wide range of diseases.
Professor Sir Rory Collins, Principal Investigator and CEO of UK Biobank said, “We are thrilled to be moving to a world-leading centre for genomics and data, where we can build on existing relationships with The University of Manchester. We are incredibly grateful to UKRI for their funding and support, which will enable us to consider new ways to enrich the data and make UK Biobank even more valuable for health research. The improved technologies and capacity at our new home will also make it quicker and easier for researchers from around the world to conduct vital research into common and life-threatening diseases and enable new scientific discoveries that improve human health.”
Professor Dame Ottoline Leyser, Chief Executive of UK Research and Innovation, said “UKRI is proud to invest in cutting-edge infrastructure across the UK to drive discovery, strengthen innovative businesses and improve public services, creating a wide range of high-quality jobs.
“UK Biobank is one of the UK’s leading biomedical science infrastructures, providing essential resources for thousands of academic and industry projects in the UK and around the world. Demand is growing year-on-year as UK Biobank’s datasets get richer over time. The insights enabled by UK Biobank have already driven change in the NHS and we look forward to seeing this powerful resource continue to thrive.”
Professor Dame Nancy Rothwell, President and Vice-Chancellor of The University of Manchester and member of UK Biobank’s Board, said “I’m very pleased that UK Biobank has chosen to move here as it is yet more evidence of how Manchester has become one of the world’s leading hubs for science and innovation. UK Biobank will be joining the community of stellar research organisations that are already working with The University of Manchester to make a difference across the UK and around the world.”
Bruntwood SciTech – one of the UK’s leading property developers dedicated to the growth of the science and technology sector – is developing the new 131,000 sq ft Greenheys facility within Manchester Science Park, which sits at the heart of the city’s Oxford Road Corridor innovation district.
Kath Mackay, Director of Life Sciences at Bruntwood SciTech, said, “Manchester is a world-renowned hub for science and technology, and the ability for UK Biobank to grow here is testament to the quality of talent, innovation and support within the city. The development of Greenheys represents the third phase of our masterplan to grow Manchester Science Park to more than 1 million sq ft of cutting-edge life sciences and tech space which, critically, will support the creation of over 2,500 jobs as Manchester’s Oxford Road Corridor continues to thrive.”
Relocation to the Greenheys site on Manchester Science Park will provide UK Biobank with new opportunities for collaboration with multi-disciplinary researchers and industry. It will also offer access to additional talent due to the proximity to leading institutions operating across research, academia, business and the NHS. The move will also support the Government’s ambitions stated in the ‘Levelling Up’ White Paper to increase R&D spending outside the Greater Southeast by over 40% by 2030, whilst retaining UK Biobank in the Greater Manchester area and contributing to the advancement of one of the UK’s most established life science and tech communities.
The new scheme is subject to planning approval by Manchester City Council. UK Biobank’s relocation is supported by Arcadis, the global built environment consultancy and Metro-Dynamics, the economics consultancy. Bruntwood SciTech’s facility design team is led by BDP Manchester with Silcock Leedham, DW Consu
Global professional services firm Aon unveils new Manchester office as part of North West growth ambitions
Aon plc (NYSE: AON), a leading global professional services firm, has moved to new premises in Manchester by relocating to 11 York Street.
Aon which employs around 50,000 people worldwide, has taken the full 17,282 sq ft fifth floor of 11 York Street. This allows Aon to bring the whole Manchester-based team together in one space and provide a flexible, collaborative, open, working environment for all colleagues.
At the official opening of the new office Greater Manchester Mayor, Andy Burnham, welcomed Aon’s 200 Manchester-based staff to their new home.
He was joined by representatives from across all of Aon’s teams, along with current and recent graduates of the firm’s apprenticeship programme.
Andy Burnham, Mayor of Greater Manchester, said:
“It’s an honour to officially welcome the Aon team to their new Manchester office. Insurance is a major employer for this city and helps to grow the local economy. It’s great to see a business such as Aon committing its future to the city and to supporting clients right across the North West.
“It has been a pleasure to meet the team and hear about Aon’s initiatives to attract young people into the industry through professional apprenticeships and work experience programmes. It’s clear to see from the work the team does and the clients they work with, that Aon is providing the exciting career opportunities needed to help retain talent in the city, thereby strengthening Manchester’s position as the Insurance Powerhouse of the North. This fantastic new office is a really impressive space and somewhere I’m sure the Aon team will enjoy working.”
Michael Barber, Aon Manchester Branch Director, Commercial Risk Solutions, said:
“Manchester is the UK’s second insurance city and one of Aon’s most prominent locations. Investing in this new city centre base is a key part of our growth ambition for the North West. As a global leader in the field, and a major part of the region’s insurance scene, partnering with clients across a diverse range of sectors, ownership structures and sizes, right across the North, we can provide an exciting and rewarding career for both highly experienced insurance professionals and new entrants. This high quality and inspiring working environment, with its state-of-the-art amenities and strong ESG benefits, reflects a deep-seated commitment to our colleagues and clients.”
An environmentally-conscious choice for Aon, 11 York Street is BREEAM Excellent and EPC A rated and incorporates state-of-the-art lighting, heating and cooling systems to reduce carbon emissions and improve internal air quality. Public and sustainable transport options are encouraged for employees as the building is located five minutes from the Market Street and Piccadilly tram stops, and is close to the city’s bus terminals. Cyclists are also well catered for with 58 bike storage lockers, showers and drying facilities on site.
Jonathan Craven, Partner in Aon’s Wealth Solutions business said:
“In seeking new office space, Aon focused on maintaining a city centre location and finding a building which fitted with both our Smart Working Model and ESG commitments.
“Smart Working is centred on the four Cs – Clients, Collaboration, Celebration and Coaching and, while we have embraced the myriad benefits of hybrid working, the office remains a place to connect, build knowledge, develop capabilities, enrich careers and contribute to a sense of belonging. 11 York Street certainly aligns with that.
“We wanted to design a space to support Smart Working, focusing on how we work not necessarily where and when we work, in a way which allows us to deliver the best for our clients. This new space will help us in that ambition to develop strong teams and create an inclusive work environment, both in-office and through virtual collaboration, where all colleagues feel a sense of belonging and further strengthens the firm’s culture.”
The team has moved from 40 Spring Gardens where the firm had been based since 2011. During the move Aon recycled some of the office furniture, netting £3,600 for charity.
Michael Barber added:
“Aon has a strong commitment to supporting communities across the UK where our colleagues and clients live and work. In Manchester, colleagues have long supported good causes in different ways, from mentoring students of all ages to hosting charity fundraising events. While planning this move, we felt it was important to make best use of resources which weren’t moving with us. We were delighted, therefore, that our furniture supplier agreed to take some of the old furniture back and gave us £3,600. This has been donated to the Aon UK Charitable Foundation to share among the charities up and down the UK that our colleagues choose to support, including Wood Street Mission in Manchester.”
The 80,000 sq ft 11 York Street is owned by Aviva Investors, the global asset management business of Aviva Plc. Occupiers include Rolls-Royce, Avison Young, and Teneo.
Aon was advised by CBRE.
Aon employs around 200 insurance and risk management specialists at its Manchester office providing clients, from SMEs to large corporates, with commercial risk solutions, health solutions, reinsurance solutions and wealth solutions.
Stockport named Greater Manchester’s Town of Culture for 2023
Stockport will take on the title of Greater Manchester’s Town of Culture for 2023, securing £50,000 to support arts and creativity in the borough.
Local stars including Mercury nominees Blossoms and Stockport County’s Macauley Southam-Hales joined Mayor of Greater Manchester Andy Burnham, Stockport Council Leader Cllr Mark Hunter, and representatives from across the town’s cultural scene for the announcement at the Hat Works on Tuesday 23 May 2023.
In recent years Stockport has been widely celebrated as an emerging hub of creative activity in Greater Manchester, and last year was dubbed the ‘new Berlin’ by DJ Luke Unabomber.
The town’s bid was centred around the One Stockport vision to support the local economy, connect communities and promote health and wellbeing. It will be underpinned by four elements that celebrate arts and creativity in the broadest sense, as well as the town’s diverse cultural heritage: Stockport Makes, Stockport Moves, Stockport Sounds and Stockport Tastes.
Stockport’s year as Town of Culture coincides with a number of major public redevelopments and investment in the town, including the Town Centre West regeneration, the refurbishment of the iconic Hat Works museum, cutting edge digital arts opportunities to be opened up through the £2.6m Stockport Creative Campus Cultural Fund, and the development of the £14m Future High Street Stockroom discovery centre.
Mayor of Greater Manchester Andy Burnham said: “It’s a real pleasure to be able to announce Stockport as our third ever Town of Culture for 2023. The town put forward a strong case for the accolade, backed up by some really exciting plans for events and activities that celebrate Stockport’s identity, its history, but also shine a spotlight on everything that’s happening right now.
“I think the fact that we’ve got Blossoms coming out to support us today just goes to show the talent that is coming out of this place and the pride they have in their hometown. I’m pleased to see so many cultural organisations and community groups already engaging with the Town of Culture project, because they’re the ones that will really bring this together. There’s a real buzz about the place at the moment – the regeneration taking place through the Mayoral Development Corporation is transforming the town centre, and now this recognition and the funding that comes with it will help Stockport capitalise on all of that.”
Cllr Mark Hunter, Leader of Stockport Council, said: “Stockport has a rich cultural history and I’m delighted that we have been recognised in this way. This is the result of much hard work and dedication by many of our cultural organisations getting together under the banner of Culture Stockport to support us with this bid.
“We want our Town of Culture programme to give everyone the opportunity to be active and creative in our town and to ensure we use it to celebrate the people, places and stories of Stockport. It was great to see so many people who are integral to our plans at the launch event, which got us off to a great start. This accolade tops off a busy six months for Stockport, with many of our key projects such as the transport interchange, Weir Mill and the next phase of Stockport Exchange all now well underway.”
Cllr Neil Emmott, Greater Manchester’s Lead for Culture, said: “The Town of Culture title is all about celebrating the unique heritage and exciting potential of places across Greater Manchester. It’s about supporting them to deliver events and activities that showcase all the creativity and talent in our communities, but that also help people to engage with culture in new and innovative ways.
“Bury and Stalybridge put their own unmistakeable stamp on Town of Culture, and now it’s Stockport’s turn. I know that everyone connected to the town’s thriving cultural scene will want to make this a success, and we’re looking forward to what they’ve got in store for the rest of the year.”
The borough boasts a rich cultural history. It’s home to Strawberry Studios, which was co-founded in 1968 by Eric Stewart – later of 10cc – and saw artists including Joy Division, The Smiths, The Stone Roses, and Paul McCartney record there. It’s also the birthplace of leading lights including broadcaster Dame Joan Bakewell, a host of film and TV actors such as Claire Foy, Sally Lindsay and Sacha Dhawan, and Wayne McGregor CBE, currently Resident Choreographer at The Royal Ballet.
Stockport is also home to several historically important public buildings such as the Edwardian Central Library, built with the assistance of philanthropist Andrew Carnegie, and the impressive Town Hall, which has become a popular filming location for a number of primetime TV shows.
The town follows in the footsteps of Stalybridge, which held the title in 2022, and Bury, which was announced as Greater Manchester’s inaugural Town of Culture for 2020 and held the title through 2021 after the coronavirus pandemic put a number of events and activities on hold.
As part of Stalybridge’s spell as Town of Culture, Tameside Council supported local groups and organisations to run activities including theatre and dance performances, writing, arts and animation workshops, immersive wildlife walks, community events for older residents, and food and drink events.
Bury, meanwhile, curated and delivered a hybrid programme of live and virtual events during its spell as Town of Culture, working with the support of Arts Council England and the Victoria Wood Foundation to host a wide variety of activities in the town.
Stockport’s Town of Culture Programme will be announced throughout the year as the programme is developed with residents, local artists, creative businesses and partners.
Greater Manchester to host its first DevCon bringing together the international tech community
Greater Manchester will host its first-ever ‘DevCon’, on Tuesday 11 and Wednesday 12 July bringing together the international tech community and confirming the city’s status as a tech hub.
The two-day event will take place at the Royal Northern College of Music in Manchester city centre. Around 500 delegates, including tech founders and senior tech professionals, will attend to hear prolific tech speakers.
MCR DevCon is Manchester’s first conference tailored especially for founders and people in senior positions in tech as well as those looking to move into C-suite leadership.
This conference is designed to help individuals and businesses progress to the next level with talks from some of the industry’s top leaders
The lineup of speakers at the ‘DevCon’ event will include Kubernetes expert Kelsey Hightower, Moneysupermarket Group Engineering Manager Claire Reckless, technologist and author Anjuan Simmons, along with other notable figures from the tech world. In addition, there will be a variety of panel discussions taking place throughout the event.
Founding partners of the event include leading global professional services company Accenture and award-winning IT global recruitment consultancy Oscar, which is renowned for tackling social issues and striving to make a difference in the local community.
Matthew Southworth, MD at Oscar, commented: “We’re delighted to be a founding partner for the very first DevCon that will showcase Manchester as the innovative tech hub it has become.”
Claire Reckless, Engineering Manager at Moneysupermarket Group adds:
“I’m thrilled to be part of the speaker lineup for Dev Con in Manchester in July. Thanks to the founding partners, sponsors and organisers this event will provide an inclusive platform for us to share our stories and knowledge with the fantastic and diverse community we have in this city. I’m also excited for our people to be able to see a number of big-name speakers from a wide range of technical backgrounds on stage at an event which will be accessible to so many in the North West, learn from their experiences, and use these to drive forward the innovative solutions we work on day to day as well as their own careers. “
Manchester’s tech industry continues to see rapid growth, establishing itself as the UK’s primary technology hub outside London and boasting a thriving ecosystem worth over £5 billion.
In 2022, tech companies in Manchester secured a record-breaking £532 million in funding – a remarkable 50% increase from the previous year, outstripping many European cities.
The city’s dynamic and innovative tech landscape is a testament to its potential, and we look forward to inspiring its current and future leaders.
DevCon will see eight world-class speakers take to the stage as well as panel discussions, with talks dedicated to leadership, excellence and innovation in tech.
To learn more and buy tickets, visit the Manchester DevCon website.
