# Making money is academic

- Link: https://fundraising.co.uk/1999/04/19/making-money-academic/
- Published: 1999-04-19T23:00:00+01:00
- Author: Howard Lake

The Guardian Higher reports on the academics who have made a fortune from applying
their research commercially. Between 1996-97 223 spin-off companies were created
by universities. 
The Guardian Higher reports on the academics who have made a fortune
from applying their research commercially. Between 1996-97 223 spin-off companies
were created by universities. One estimated puts the numbers of academic millionaires
created as a result of these companies at between 20 and 100. Some of these are,
of course, more paper millionaires than cash-rich.

Successful commercial academics include:

Professor Alan Wilson, vice-chancellor of Leeds University, who received nearly 
£1 million from the sale of his company GMAP Ltd in 1997

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Professor Peter Denyer, Edinburgh University, main shareholder of VLSI Vision plc,
which sold for £23.3 million

Dr Martin Porter, Cambridge University, a founder-director of Muscat Ltd, 70% of
which MAID plc bought for £8 million

Prospect researchers might be pleased to know that some of these successful academics
have already begun to donate some of their wealth. Professor Ken Murray, inventor
of the hepatitis vaccine, helped fund two new buildings and student scholarships.
Roger Needham, formerly at Cambridge University’s computer laboratory, gave £200,000
to Wolfson College.

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