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Imperial Innovations (IVO), the AIM-listed tech ‘incubator’ arm of London’s Imperial College, is putting the £140m it raised recently (see Imperial to ‘innovate’ in Oxford, Cambridge, UCL) to good use. Though most of its investments focus on hi-tech, pharma and biotech developments, IVO also nurtures visual search technology start-up, Cortexica (see IndustryViews Private Equity Q3 2009), which now has a new leadership team and is focusing its efforts on developing its mobile platform-based image recognition system. Oh, by the way, IVO itself was profitable in H1, with revenues of £1.7m and almost the same in pre-tax profit.
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Imperial innovates a busy half year
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