Info for Academic Staff & Researchers
We support academic staff and researchers to turn your research into a sustainable enterprise that focuses on maximising impact.
Who is SISO for?
Scotland’s universities have an international reputation for excellent research that delivers economic and social benefits for both Scotland and the wider world.
However, for many academic staff and researchers, the successful transition of this research into real-world application through commercialisation does not materialise. For some, this is not because of the scope or potential of the research but other factors, including consideration of the risk/reward balance, personal time, finance, and simply not knowing how.
For others, the language of commercialisation is daunting – profit, investment, equity, Venture Capital, words which some find can jar with the reason why they initially started out on their research journey…to make a difference…to have a positive impact on society. For these reasons, they feel that the traditional university commercialisation process is not for them and their entrepreneurship journey does not begin.
If this is you, then read on…there is another way.
How does it work?
SISO is designed to support academic staff and researchers to explore commercialisation of their research through the social enterprise model.
Social enterprise is a business model that puts people and planet first, offering a balanced approach to commercialisation. Social enterprises are trading businesses, selling goods and services, employing staff, and doing it within a profitable and sustainable financial model. However, the primary purpose of the social enterprise is the maximisation of its social or environmental impact.
A key characteristic of social enterprises in Scotland is the ‘asset lock’, ensuring that all profits and assets remain within the enterprise to maximise the social impact, instead of being distributed for the financial gain of investors.
In working with you however we may collectively come to the conclusion that the social enterprise model is not the best model for you or the institution. In this case we will make that clear and the reasons why, routing you back into the mainstream commercialisation process. We are here to make sure that your research is commercialised through the most appropriate model for it to be successful, making sure you have access to the full range of options.
FAQs
The idea I have to turn my research into a business is at an early stage. I would imagine that it’s probably too early for me to contact SISO?
No it’s not. Get in touch. SISO works with academic staff and researchers whose ideas to commercialise their research can be at a very early stage. For some of the academics we have worked with, it has taken three years to get to a stage where they have formed a company. We are happy to work with you no matter what stage your idea is at.
I would love my research to be commercialised as a social enterprise but I don’t want to be a CEO. Is this possible?
Yes. For some academic staff being a CEO is not something they want, for a variety of personal and professional reasons. That doesn’t mean that your research cannot be commercialised. We can work with you and the university commercialisation team to commercialise your idea through a social enterprise model and to identify another person to become the CEO. You can stay involved through a different role, be it as a Chief Technology Officer, being on the Board of Directors or in an advisory capacity.
This all seems a bit new and different. I would really like to read some examples of other academic researchers that have already commercialised using the social enterprise model. Are there any?
Yes, there are. We have supported the first social enterprise spin-outs from the University of Edinburgh, the University of Glasgow and the University of Strathclyde and are actively working with dozens of others at different stages of the commercialisation process. Click here to read some case studies of those that have already taken this journey.
Social enterprise, is that the same as not-for-profit?
Not really. The term ‘not-for-profit’ is loosely used to describe businesses that are not in the public or private sectors, including charities. A social enterprise is a profit-making enterprise, and making profit is fundamental to its ability to continue trading. The difference is what happens to the profit. With a social enterprise, profits are retained within the business and used to further the social or environmental impact. This is different from a ‘private sector’ company that can distribute its profits to shareholders via dividend payments.
Do I need to pay to access support from SISO?
No. SISO is supported financially by the Scottish Government in order to increase the number of academic start-ups and spin-outs with social impact. We match our funding to that offered by the university through its commercialisation pathway. This means we can deliver our support to you at no charge.
