Business Monthly: Intelligent Finance for Academics ; Spinout Companies Mean That Bright Ideas Become Commercial Enterprises. but Should Universities Be Making Money in This Way?

Beginning of article

In 1994, molecular geneticist Luke Alphey came up with an idea that had what he calls "an obvious commercial relevance". He would create a breed of otherwise normal insects that could not reproduce. These insects could compete with wild insects for mates, but would produce no offspring. Release enough of them, and hey presto - no more plagues of locusts.

Dr Alphey applied for a patent two years ago and was plunged into an unfamiliar world of venture capitalism and knowledge transfer. Last August, a company based on his research emerged. Oxitec has eight employees and pounds 1.5m in funds. It's one of nine companies "spun out" by Oxford University last year.

In …