Allied Minds

Last updated

Allied Minds plc
Type Public (LSE:  ALM)
Industry Investment
Founded2004
Headquarters Boston, United States
Key people
Peter Dolan, (Chairman)
Jill Smith, (CEO)
Revenue £2.7 million (2016) [1]
£(113.7) million (2016) [1]
£(128.9) million (2016) [1]
Website www.alliedminds.com

Allied Minds plc is an American intellectual property (IP) commercialization company. [2] It is listed on the London Stock Exchange. The company has technology transfer agreements with over 160 partners, including 34 U.S. federal research facilities, as well as university labs such as Harvard and New York University. [3] It reviews thousands of IP assets per year, [3] and forms, funds and manages start-ups that operate as subsidiaries. [4] This IP commercialization model is relatively new to the US. [3]

Contents

History

The company was established by Mark Pritchard to exploit opportunities in intellectual property in 2004. [5] Chris Silva was appointed Chief Executive Officer and Director of the Company in 2006. [6] It entered into an innovative arrangement with the United States Department of Defense in 2012 [7] whereby incubation stage companies are formed to allow advanced technology to be prepared for the market: early examples included advanced technologies for wireless and internet networking. [8] This private-public partnership was expanded to the U.S. Army's Research Development, and Engineering Command; the Naval Surface Warfare Center, Crane Division, and the Aerospace Corp. [9] In October 2013, Allied Minds signed an agreement with The MITRE Corp. to share intellectual property and technology in the cyber and mobile security field. [10] This partnership was later expanded in July 2016 to provide Allied Minds’ federal intellectual property division Allied Minds Federal Innovations (AMFI) exclusive access to its portfolio. [11]

The company completed an initial public offering in June 2014. [12] In August 2014, Allied Minds announced a joint venture with Bristol-Myers Squibb called Allied-Bristol Life Sciences to form new biotech companies based on discoveries within its university laboratory network. [13] The partnership received new funding in April 2016 to boost the pre-clinical development of new drugs. [14] In September 2016, Allied Minds announced a partnership with General Electric Co.’s venture capital unit to jointly invest in new companies based on both GE's R&D in healthcare, transportation, energy, and big data, as well as intellectual property from Allied Minds’ network of U.S. federal and university research partners. [15] Under the terms of the agreement, Allied Minds and GE Ventures plan to invest in existing Allied Minds subsidiaries, technologies that GE develops in-house and desires to spin out, and new startups sourced from both companies. [16]

Operations

The company has partnerships with 130 [17] American universities and 30 federal government departments in the United States. [5]

Related Research Articles

A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to become registered, startups refer to new businesses that intend to grow large beyond the solo founder. At the beginning, startups face high uncertainty and have high rates of failure, but a minority of them do go on to be successful and influential. Some startups become unicorns; that is privately held startup companies valued at over US$1 billion.

Trend Micro International cyber security company

Trend Micro Inc. is an American-Japanese multinational cyber security software company with global headquarters in Tokyo, Japan and Irving, Texas, United States, with regional headquarters and R&D centers in Asia, Europe, and North America. The company develops enterprise security software for servers, containers, & cloud computing environments, networks, and end points. Its cloud and virtualization security products provide automated security for customers of VMware, Amazon AWS, Microsoft Azure, and Google Cloud Platform.

Alexander Muse is an American internet entrepreneur who has founded several internet companies including LayerOne, ShopSavvy, Architel, and ViewMarket. His most recent endeavor, Sumo Ventures, invests in early-stage startups.

Techstars is an American seed accelerator founded in 2006 in Boulder, Colorado. As of 2019, the company had accepted over 1,600 companies into its programs with a combined market capitalization of $18.2bn USD. Fewer than 1% of the over 17,000 applicants are accepted.

Where.com

Where, Inc. was a location-based media company in North America. Their main products were the WHERE consumer application and WHERE Ads, a hyper-local ad network that connected merchants with local audiences. PayPal announced its acquisition of Where, Inc. in 2011 for $135 million.

Atlas Venture is an early-stage venture capital firm that invests in life sciences startup companies in the U.S. Atlas is headquartered in Cambridge, Massachusetts, where the majority of its investments are located. Atlas rolled out its eleventh biotech fund totaling $350 million in June 2017, after closing its tenth fund in April 2015, with $280 million in commitments.

Silk is a technology company headquartered in Needham, Massachusetts, United States. Silk offers a cloud platform for enterprise customers with mission-critical applications. The company has offices in Boston and Israel.

NuoDB

NuoDB is a cloud-native distributed SQL database company based in Cambridge, Massachusetts. Founded in 2008 and incorporated in 2010, NuoDB technology has been used by Dassault Systèmes, as well as FinTech and financial industry entities including UAE Exchange, Temenos, and Santander Bank.

Alnylam Pharmaceuticals Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics for genetically defined diseases. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts. In 2016, Forbes included the company on its "100 Most Innovative Growth Companies" list.

Fuze (company)

Fuze is a cloud communications and collaboration software platform designed for the enterprise. The company is headquartered in Boston, Massachusetts.

Hello Alfred Residential property management software

Alfred, also known as Hello Alfred, is a resident management software application that enables real estate developers and property managers to provide in-home services and experiences to their residents. Residents in Alfred buildings are assigned a personal home manager, or Alfreds, who are W-2 company employees, and can make requests in the company's app. The Alfred platform integrates with Real Page, Yardi and Entrata so that building management teams can operate their buildings through a single platform.

GE Ventures is the venture capital subsidiary of General Electric. Headquartered in Menlo Park, California the firm also has offices in Boston, Chicago, Houston, Shanghai, and Tel Aviv. As of 2015, the CEO is Sue Siegel, and on October 23, 2017, she was also named Chief Innovation Officer. GE Ventures plans to invest up to $150 million annually in startups in the healthcare, energy, software, and advanced manufacturing sectors.

Yottaa is a web and mobile optimization services company based in Waltham, Massachusetts. Its main product is a platform that helps with website conversions, as well as performance and security.

Editas Medicine Discovery-phase pharmaceutical company

Editas Medicine is a clinical-stage biotechnology company which is developing therapies based on CRISPR–Cas9 gene editing technology. Editas is based in Cambridge, Massachusetts and has facilities in Boulder, Colorado.

Indigo Agriculture

Indigo Agriculture is a Boston, Massachusetts-based agricultural technology company that works with plant microbes, aiming to improve yields of cotton, wheat, corn, soybeans, and rice. The company also offers crop storage and other logistics programs for farmers.

Toast, Inc. is a cloud-based restaurant software company based in Boston, Massachusetts. The company provides a restaurant management and point of sale (POS) system built on the Android operating system. Toast was founded in Cambridge, Massachusetts in 2012 by Steve Fredette, Aman Narang, and Jonathan Grimm. In February 2020, Toast received $400 million in a round of Series F funding including Bessemer Venture Partners and TPG, at a valuation of $4.9 billion. Toast is used in thousands of restaurants, from small cafes to nationwide enterprises, across the U.S.

SmartBear Software

SmartBear Software is an American privately-held information technology company that delivers tools for application performance monitoring (APM), software development, software testing, API testing and API management. The company is based in Assembly Square in Somerville in the Greater Boston Area. The current SmartBear company was founded in 2009.

Sentient Technologies is an American artificial intelligence (AI) based technology company based in San Francisco. Sentient was founded in 2007 and has received over $143 million in funding since its inception. As of 2016, Sentient is the world's most well-funded AI company. Focused on e-commerce and online content as well as trading,

Desktop Metal is a public American technology company that designs and markets 3D printing systems. Headquartered in Burlington, Massachusetts, the company has raised $438 million in venture funding since its founding from investors such as Google Ventures, BMW, and Ford Motor Company. Desktop Metal launched its first two products in April 2017: the Studio System, a metal 3D printing system catered to engineers and small production runs, and the Production System, intended for manufacturers and large-scale printing. In November 2019, the company launched two new printer systems: the Shop System is designed for machine shops, and its Fiber industrial-grade composites printer uses automated fiber placement. Valued at $1.5 billion, Desktop Metal is tied as the fastest growing "unicorn" in United States history. The World Economic Forum named Desktop Metal a Technology Pioneer in 2017.

Wasabi Technologies, Inc. is an object storage service provider based in the United States. It sells one product, an object storage service called Wasabi Hot Cloud Storage. The company was founded in September, 2015, and launched its cloud storage product in May, 2017.

References

  1. 1 2 3 "Annual Results 2016". Allied Minds. Retrieved 27 April 2017.
  2. ↑ Alspach, Kyle. "Allied Minds Is Boston's Quietest Billion-Dollar Tech Company". BostInno. StreetWise Media. Retrieved 8 September 2016.
  3. 1 2 3 Bond, Shannon (12 August 2016). "Allied Minds: The search for fortune and glory". Financial Times. Financial Times. Retrieved 3 September 2016.
  4. ↑ Cline, Keith. "Allied Minds' John Serafini: From Airborne Ranger to Venture Creator". VentureFizz. VentureFizz. Retrieved 11 September 2016.
  5. 1 2 "US university spin-off group Allied Minds plans LONDON IPO". Ft.com. 20 May 2014. Retrieved 16 December 2014.
  6. ↑ "Allied Minds PLC (ALML.L)". Reuters. Thomson Reuters. Retrieved 8 September 2016.
  7. ↑ Koetsier, John. "Allied Minds and the DOD: 50,000 scientists at 100 labs creating technologies fueling 100 startups a year". VentureBeat. VentureBeat. Retrieved 8 September 2016.
  8. ↑ "Allied Minds: Boston firm details first two startups in Federal deal". X Economy. 13 December 2011. Retrieved 16 December 2014.
  9. ↑ Anders, George (12 September 2012). "An Unusual Venture Capitalist Scours Military Labs for Ideas". Forbes. Forbes. Retrieved 31 August 2016.
  10. ↑ Harris, David (25 March 2014). "Allied Minds, MITRE partnership means more funding for cyber security". American City Business Journal. Boston Business Journal. Retrieved 6 September 2016.
  11. ↑ Schwartz, David. "Allied Minds and MITRE partner to spin out innovations and launch new companies". Tech Transfer eNews Blog. Tech Transfer Central. Retrieved 6 July 2016.
  12. ↑ "Allied Minds prices London IPO at 190 pence per share". Reuters. 20 June 2014. Retrieved 16 December 2014.
  13. ↑ Seiffert, Don (5 August 2014). "Allied Minds and Bristol Myers to start 10 new biotechs in next five years". American City Business Journals. Boston Business Journal. Retrieved 8 September 2016.
  14. ↑ Seiffert, Don (28 April 2016). "Allied Minds, Bristol Myers commit another $100M to develop 10 drugs". American City Business Journals. Boston Business Journal. Retrieved 8 September 2016.
  15. ↑ Harris, David (29 September 2016). "GE's venture arm, Allied Minds team up to fund next-generation tech". American City Business Journals. Boston Business Journal. Retrieved 7 October 2016.
  16. ↑ Engel, Jeff (29 September 2016). "GE, Allied Minds to Invest in Startups Amid Evolving Funding Market". Xconomy. Xconomy. Retrieved 7 October 2016.
  17. ↑ "About Us". Allied Minds: About Us. Retrieved 8 September 2016.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.