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Imperial Innovations raises £1.5m to seed Indian operation


22 November 2007

Imperial Innovations Group plc
(“Imperial Innovations”)

Imperial Innovations Group plc (AIM:IVO), today announces that £1.5 million of seed funding has been raised for i2india Holdings Limited (“i2india”), a technology commercialisation and investment company focused on creating commercial value from intellectual property developed in India. Imperial Innovations holds a 35% stake in the company.

In a manner similar to the Imperial Innovations business model, i2india will develop and commercialise intellectual property (IP). However, the technologies this IP represents will arise from a range of Indian research institutes, universities, research organisations and corporations, organisations with which Imperial Innovations and, Mr Chris Mathias Chairman of i2India, have strong relationships. The company will enable world-class Indian institutes to capitalise on their intellectual property which remains largely underexploited. i2india will also provide Imperial Innovations’ technologies and technology businesses with greater market opportunities in India, enabling them to leverage the low-cost, world-class manufacturing and technology development resources available there.

The seed funding was raised from a group of investors which includes Imperial Innovations, Mr Chris Mathias, and i2india’s Advisory Board Members, comprising Mr D.S. Brar, Chair of GVK Biosciences Ltd and a director of the Reserve Bank of India, Mr Donald Peck, Managing Partner of Actis India (VC) and Graham Wrigley ex-senior partner of Permira.

Susan Searle, CEO of Imperial Innovations, joins the board of i2india as a director alongside Mr Chris Mathias, a successful entrepreneur and co-founder of Conduit Communications, a software and web development company.

Susan Searle, CEO Imperial Innovations, said,

“We are pleased to establish an international associate company, i2India. India has many world class institutions, and scientific publications from Indian organisations are becoming increasing influential outside India. i2india will help Indian institutes make the most of potentially valuable research and bring many positive benefits to the Indian economy.”

Chris Mathias, Chairman of i2india, said,

“I2india is an important and exciting endeavour. I am looking forward to making i2india a key part of the innovation infrastructure in India.”

-Ends-

For more information contact:

Imperial Innovations

Susan Searle, Chief Executive Officer
+44 (0)20 7594 6591

Lucy Ahfong, Marketing Communications Executive
+44 (0)20 7594 6644

M:Communications

Patrick d’Ancona / Eleanor Williamson
+44 (0)20 7153 1539

JP Morgan Cazenove (NOMAD to Imperial Innovations)

Steve Baldwin
+44(0)20 7588 2828

Notes to Editors

About Imperial Innovations
Imperial Innovations is one of the UK's leading technology transfer and commercialisation companies. The company was founded in 1986 and its ordinary shares admitted to trading on the AIM Market of London Stock Exchange plc in July 2006, raising £25 million at an offer price of 365p and £1 million by means of a public offer.

The company’s integrated approach encompasses the identification of ideas, protection of intellectual property, development and licensing of technology and formation, incubation and investment in technology businesses. A wide range of technologies are commercialised within the areas of healthcare, energy, environment and emerging technology trends.

Based at Imperial College London, the company has established equity holdings in 74 technology businesses and is managing 133 commercial agreements as of 31 July 2007. Imperial Innovations also commercialises technologies originating from outside Imperial College through incubation contracts with the Carbon Trust and WRAP and has commercialisation contracts with a number of multinational corporations including BAE Systems.

www.imperialinnovations.co


Publisher Contact Information:

Imperial College Innovations Limited
+44 (0)20 7594 6591
-

Company profile of Touchstone Innovations (formerly Imperial Innovations)
Past press releases of Touchstone Innovations (formerly Imperial Innovations).

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