To comply with funding requirements, Newcastle University has developed a Dynamic Purchasing System (DPS) framework which potential executives need to register on. Once registered they become part of a pool of candidates. The DPS is open continuously for new candidates to join and Newcastle University procurement team can provide support to help candidates work through the application process.
When an opportunity arises, i.e. a spin-out is ready for a CEO to take the business forward, the opportunity is shared with the candidate pool as a tender. Candidates can then bid for the opportunity and applications are reviewed by a panel including technology transfer experts from the relevant university and the academic founder. This allows the university to select and appoint the most appropriate candidate.