Callum Benson

DeepTech enthusiast and all around nerd | New Ventures @MonashUni - tweeting about investing, spinouts, IP and the odd meme

[Callum Benson @cgmbenson]

@clarejtbirch Not attractive enough 🥁

[Callum Benson @cgmbenson]

@cyantist @PlasmaLeapTech @jupiterionics

[Callum Benson @cgmbenson]

@PeterDClack @sbxr Worth digging into this graph in particular a little further - https://t.co/gERhfqcsW2

[Main Sequence @MSeqVC]

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[Callum Benson @cgmbenson]

@paulg Swallows and amazons (the whole series but ones I vividly remember are the first 3) - smack bang in that time and very well written.

[innovationbay @innovationbay]

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[Callum Benson @cgmbenson]

@nickbonyhady Intrigued by this line “It is rare for start-up founders to stop running a business without selling it” - have any stats on that you can share?

[Callum Benson @cgmbenson]

@onceageek @nathanbenaich @CERN @spinoutfyi Excl licences do not entail those equity stakes (I’ve done them for pure royalty before) - that seems an odd strawman to me. My question is to see if investors will accept non excl - not if we prefer non excl (with x terms) to excl (with y) as that is too complex for twitter!

[Callum Benson @cgmbenson]

@AOslerne @andrewjscott @Cambridge_Uni Interested by the IP created side - do you mean IP created post licence?

[Callum Benson @cgmbenson]

@AOslerne @andrewjscott @Cambridge_Uni Their model is 5% non diluting til series A (plus royalties etc) - that works out not dissimilar to 20% diluting equity most of the time...

[Callum Benson @cgmbenson]

@AOslerne @andrewjscott @Cambridge_Uni What about their model is better to you?

[Callum Benson @cgmbenson]

@cjmckeon Just looked up the score - that’s absolutely wild!

[Callum Benson @cgmbenson]

@ceclindgren @MacfarlaneJamie @nathanbenaich That being said - don’t see how you can go wrong if terms are negotiable and negotiated by commercially savvy ttos and founders with a market that gives consistent feedback - this is developing in the uk still.

[Callum Benson @cgmbenson]

@ceclindgren @MacfarlaneJamie @nathanbenaich What’s working in uk is hard - it’s a fragmented ecosystem. I like ucams model (I was there for over 3 years in tto… so of course) - but ecosystems are all different - harmonisation isn’t easy (which is why it isn’t the same all over the us either).

[Callum Benson @cgmbenson]

@ProfTomEllis @TonahN Hard agree with specialty contracting for spinouts/commercial deals! Unis are large and complex and totally different legal skillset/operations required.

[Callum Benson @cgmbenson]

@ProfTomEllis @TonahN That data stems from a pretty subjective question in the survey though - define when you start “spinning out”? It implicitly lays blame at the unis door which I know first hand is only sometimes true - given the sample size/data quality that’s a less useful graph/stat here.

[Callum Benson @cgmbenson]

@nathanbenaich Find the data from various ecosystems particularly interesting - this points to differing appetites for various licence deal terms (royalties/milestones presumably forming more of the mix) - which presumably is market led? Or is it uni push?