CITROSOL participates in the Polytechnic University of Valencia investment fund to finance 21 spin out projects

Some twenty public and private sector investors are backing this finance instrument to provide support for the most innovative and promising university level initiatives. The fund amounts to some 6 million Euro to span the next 7 years.Last 3rd March the venture capital fund in which CITROSOL has become a part, TECH Transfer UPV, will be unveiled at the Universidad Politécnica de Valencia. The presentation will begin at 16:15 hrs in Building 8B of the la Ciudad Politécnica de la Innovación (The Polytechnic City of Innovation).This is a new fund for the transfer of technology, which is to be managed by the Clave Mayor company and follows the successful model of investment funds at Oxford University, proven by their impulse in the creation of a hundred young companies linked to the university, which generated 5,000 jobs and have provided returns for their investors.Citrosol, along with other public and private investment institutions, is participating in this fund, Tech Transfer UPV, which was registered with the CNMV this January, with the aim of supporting projects of merit generated within the realms of the Polytechnic University of Valencia in need of a financial boost to see their crystallization into the market.In this way Citrosol are promoting the most innovative projects of the UPV by supporting them at their most critical stage, that is to say, in their genesis and initial development. As Benito Orihuel, CEO and Scientific Director of the Company explained, entering into this fund reinforces  Citrosol’s commitment to Corporate Social Responsibility: "Our commitment to innovation forms the basis of our company’s work philosophy so, through Tech Transfer UPV, we are respecting our own philosophy whilst also giving breathing space to the more promising projects in need of financial support to get going, projects close to our hearts which dovetail with our sense of Corporate Social Responsibility".The 21 technological initiatives which fall under the umbrella of the fund come from different sectors, such as food and agriculture (microbiology and foods), life science (biotechnology and medical devices), clean tech (renewable energy and new materials), telecommunications (HW, SW, networks, e-commerce and the Internet of Things) and engineering (electronics, robotics and mechanics). "The opportunity to delve into these other fields of knowledge was also a factor that encouraged us to join Tech Transfer UPV" added Orihuel.6 million Euro, 7 yearsTech Transfer UPV will be investing in 21 spin outs; viable knowledge and technology projects which are novel in that they bring factors that differentiate them based on their innovation, their generation of a competitive advantage and thus their ability to stand the test of time. This investment fund is for 6 million Euro to span over 7 years.The fund or aid follows a pioneering new investment model, in that it seeks to integrate financial support for the spin outs to enter the market with a model of proximity and co-investment with other public and private investors which will provide incubation services and advice on technical matters along with the management skills needed to successfully reach the target market.Twenty investorsThis new financial instrument brings together twenty investors, amongst them the Generalitat Valenciana. Its administrator is the Valencian company, Clave Mayor, headed by Pedro de Alava, having broad experience in these types of funds with other Spanish Universities.The details of this new finance instrument to promote technology transfer projects will be released on Thursday 3 March at the ‘Cubo Azul’ Conference Hall at the Universidad Politécnica de Valencia. At the event you will be offered an insight into the vision of industrialists and entrepreneurs, the experience of the Oxford University funds and the technology based companies within the UPV environment.Source