University spinouts play an important part in ensuring that the UK’s research base contributes to economic growth. However, academics at some institutions would benefit from greater flexibility in working structures as they start and grow their spinouts, and universities should be prepared to accept smaller returns on IP if it encourages greater levels of innovation and delivers wider economic benefits. This would help rebalance the risk-reward dynamic that is essential to delivering an innovation-driven economy; and support greater regional growth. (Conclusion, Paragraph 53)