First Loughborough University Spin Out
25th September
IPSO Ventures plc, the IP commercialisation specialist, is pleased to announce that its wholly owned subsidiary Ipso Management Limited ("IPSO”) has created and invested in its first spin out company, Axilica Limited (“Axilica” or the “Company”), under its Framework Agreement with Loughborough University.
Axilica has developed an electronic design automation (“EDA”) software programme which simplifies and speeds up the process of designing semiconductor chips. The Axilica product is a visual design language front end for the hardware design process that allows designs to be represented in the form of Unified Modelling Language (“UML”). This results in a more efficient and automated flow process from specification capture to hardware design language. The programme accepts diagrammatic input and automates the subsequent design process, providing:
- Faster design flow
- Lower design cost
- Quicker time to market
IPSO is leading an investment round of up to ú500,000 into Axilica, which has been spun-out from Loughborough University's Electrical and Electronic Engineering Department. The Company has also received co-investment of ú25,000 from the Lachesis Fund, the University Challenge Fund for the East Midlands.
The demand driven by the continuing need to upgrade and enhance consumer products and their features is increasing. Bringing new computer chips to market is time consuming and requires substantial expertise. Axilica's EDA software product is designed to address this demand. It will not only speed up the process, but will allow it to be carried out with little or no knowledge of front-end hardware design. The reduced development cost and timescales will enable chip design companies to reap the benefits of increased profit margins and faster times to market for their products.
Simon Hunt, Executive Chairman of IPSO, said: "We are delighted to have created our first spin-out company under our agreement with Loughborough. The quality of the team behind Axilica is very impressive and the Company is clearly addressing the market's growing need for quicker, cheaper chip design. We are also very pleased to have co-invested with Lachesis".
Peter Winter, Pro-Vice-Chancellor (Enterprise), Loughborough University, added: "We are really excited about this deal, which we believe will be an excellent demonstration of how university technology combined with the right funding partners can move technology from the laboratory to the market place. It is our first deal with IPSO in what we hope will be a long and fruitful relationship. It also includes the Lachesis fund with which the University, along with four other east midlands universities, has a long standing relationship."