Founders Choice® is Imperial's spinout formation process and associated entrepreneurial education and support offer. It is available for members of staff at Imperial.
Founders Choice
Update - 1 August 2023
Read the College News announcement about the changes.
Following a detailed consultation with academic staff, spinout founders, investors and other key stakeholders in spinout success, Imperial made improvements to Founders Choice which were rolled out from 1 August 2023.
The changes aim to improve the experience of spinout founders, incentivise academics to take part in spinout activity, and improve terms for spinout founders to maximise their companies’ chances of success.
The information on this page was most recently updated on: 11 December 2023
The Founders Choice offer
- Dedicated support and strong incentives
- Favourable terms that enable spinouts to start well and thrive
- A low-friction formation process optimised for deal speed
Dedicated support and strong incentives
Founders will be guided through the spinout process by a dedicated Spinout Project Manager (SPM). The SPM role will be taken up by an individual in the founders' Faculty Industry Partnerships and Commercialisation team.
The SPM will drive the formation process, identify support needs, and work closely with the founders throughout their spinout journey. A wide range of founder support will be offered, from monthly ‘how-to’ masterclasses to access to Experts in Residence, to fundraising strategy coaching.
Founders benefit from the Rewards to Inventors scheme for IP licensed to the spinouts.
Favourable terms
The Founders Choice update introduces several fixed terms that aim to accelerate deal speed while enabling spinouts to thrive. These include the choice of dilutable or non-dilutable Imperial equity holding and low standard royalty rates on technology licences.
A range of improvements have been made to existing terms, including an update to payments and simpler requirements for annual development planning.
Low-friction formation
Dedicated support and fixed terms that respond to the commercial realities faced by spinout companies combine to reduce friction in the formation process. The SPM will drive the technology licensing and company formation process, working directly with the founders. Legal template documents will be made available to founders.
A spinout set up for success
Spinouts formed through Founders Choice are set up to start well and thrive.
- Competitive equity terms
- Imperial as a shareholder
- Equitable technology licensing terms
- Cash-preserving repayment terms to support the spinout in its early operations
Key details
- Equity
- Royalties and other payments
- Spinout Project Manager
- Tailored support for all founders
- 5-year repayment period
- Updated licence terms
Founders Choice documents
The documents linked below are provided for guidance. These documents are subject to regular review and may therefore be updated from time to time. Please download them from this page in order to to ensure you are viewing the most recent version.
Template licence agreement
Founders Choice Template Licence Agreement
Template documents - with non-dilute
Non-dilutable equity Founders Choice Memorandum of Understanding template
Founders Choice Articles of Association template (non-dilute)
Founders Choice Shareholders Agreement template (non-dilute)
Template documents - dilutable
Dilutable equity Founders Choice Memorandum of Understanding template
Founders Choice Article of Association template (dilutable)
Founders Choice Shareholders Agreement template (dilutable)
The information on this page was most recently updated on: 23 January 2025
Contact
Academic and research staff with questions about Founders Choice are encouraged to contact their faculty IPC team.
Faculty of Engineering
Dr Marika Reay – m.reay@imperial.ac.uk
Faculty of Medicine
Dr Vjera Magdalenic-Moussavi –v.magdalenic@imperial.ac.uk
Faculty of Natural Sciences
Dr Viraj Perera – v.perera@imperial.ac.uk
Imperial College Business School
Julian Sikondari –j.sikondari@imperial.ac.uk
Communications lead
For any further questions, requests for support materials, or feedback, please contact:
Gavin Reed, Enterprise Marketing and Communications Manager - g.reed@imperial.ac.uk
FOUNDERS CHOICE is a registered trademark of Imperial College Innovations Limited