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Prize winner
Subject category: Entrepreneurship
Authors: Simon Barnes (Imperial College London)
Published in: 2002

Abstract

The case explores the creation and venture capital financing of Renovo, a biotechnology start-up created in 2000 at the University of Manchester, UK. At the time of the deal, Renovo secured one of the largest first round venture financings for a UK-based biotechnology start-up and at the time of writing, the company continues to grow rapidly. The case examines a variety of issues central to the creation of technology start-ups from both the entrepreneur's and the VC's perspective, with the overall goal of constructing a deal acceptable to both parties. In a broader context, the case illustrates the notion of milestone-based financing for venture capital-backed technology start-ups, and the complexities of creating a business from within an academic institution.

Teaching and learning

This item is suitable for postgraduate courses.

Time period

The events covered by this case took place in 2000.

Geographical setting

Region:
Europe
Country:
United Kingdom

Featured company

Renovo
Industry:
Bio-technology

Featured protagonists

  • Mark Ferguson (male), Founder
  • Sharon O'Kane, Founder

About

Abstract

The case explores the creation and venture capital financing of Renovo, a biotechnology start-up created in 2000 at the University of Manchester, UK. At the time of the deal, Renovo secured one of the largest first round venture financings for a UK-based biotechnology start-up and at the time of writing, the company continues to grow rapidly. The case examines a variety of issues central to the creation of technology start-ups from both the entrepreneur's and the VC's perspective, with the overall goal of constructing a deal acceptable to both parties. In a broader context, the case illustrates the notion of milestone-based financing for venture capital-backed technology start-ups, and the complexities of creating a business from within an academic institution.

Teaching and learning

This item is suitable for postgraduate courses.

Settings

Time period

The events covered by this case took place in 2000.

Geographical setting

Region:
Europe
Country:
United Kingdom

Featured company

Renovo
Industry:
Bio-technology

Featured protagonists

  • Mark Ferguson (male), Founder
  • Sharon O'Kane, Founder

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