Published date: 8 July 2022
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Business and management consultancy and related services - 79400000
Location of contract
North East
Value of contract
£30,000
Procurement reference
NCL001-DN607269-64835650
Published date
8 July 2022
Closing date
10 May 2022
Closing time
12pm
Contract start date
2 June 2022
Contract end date
30 September 2022
Contract type
Service contract
Procedure type
Restricted procedure
A two-stage procedure, where the first stage is used to select suppliers, who are then invited to bid in the second stage.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
Newcastle University have developed a novel Artificial Intelligence (AI) microchip architecture which is uniquely underpinned by logic-based AI. The microchip named mignon was fabricated in early 2021 and this work was led by Dr Rishad Shafik and Professor Alex Yakovlev of the Microsystems Group, School of Engineering at Newcastle University.
The aim is to create a Fabless IP based spin-out company mignon.ai which will market and sell the design of customised hardware devices and semiconductor electronics systems all based on the mignon microchip. The company mignon.ai will develop and design the microchips and supply codes to clients to enable the synthesising of microchip, where all manufacturing of hardware will be outsourced.
The team requires an experienced and appropriate business executive to progress this opportunity.
The initial brief of the executive will be to:
(1) Produce a viable 5 year business plan;
(2) Obtain university approval for the venture;
(3) a. Act for the company in the spin-out legal process and address all company formation matters;
b. Obtain founder academics' and Newcastle University (including the Head of Company Creation) approval for appointment as CEO.
c. Provide to the appropriate university all matters necessary for Research England reporting requirements;
(4) Secure (venture capital and other) funding
Stage (5) will produce the funds by which the new start-up company can consider employing the executive going forward. It is expected, and the intent of the scheme, that the Executive will remain with the business following the end of the contract period. However, such appointment will be at the discretion of the board and appropriate university and will be subject to confirmation, typically at Stage 4 above.
Award information
Awarded date
4 July 2022
Contract start date
6 July 2022
Contract end date
31 October 2022
Total value of contract
£29,040
This contract was awarded to 1 supplier.
Cambridge Future Tech
Address
10 Trafalgar Road
Cambridge
Cambridgeshire
United Kingdom
CB4 1EUReference
None
Supplier is SME?
Yes
Supplier is VCSE?
No
About the buyer
Contact name
Natalie Morton
Address
Newcastle University
Procurement Services, Kingsgate
Newcastle
NE1 7RU
United Kingdom
Telephone
+44 1912086396
Website
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Closing: 10 May 2022, 12pm
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