Decision details

To consider for approval the Council’s Commercial Strategy.

(a)  To recognise the important role that Commercialisation will make in financing high quality outputs, outcomes and services in the future, a Commercial Committee comprising four elected members be established.

(b)  To agree that the fundamental role of the new Committee will be to maximise existing and future commercial and business development opportunities in accordance with the contents of this report.

(c)  To note that the Commercial Committee will develop a Commercial Strategy and Action Plan that will be subject to Cabinet approval.

(d)  To agree that the Service Lead Governance be instructed to arrange for any necessary changes to the Constitution to be presented to Council for adoption, following approval by the Monitoring Officer, to enable the work of the Committee to begin as soon as possible.

(e)  To note that induction will be arranged for the members of the Committee in accordance with the contents of this report following their appointment, including training on commercialisation and business development.

(f)  To agree to the proposal to introduce a dedicated finance resource associated with the role of the Commercial Committee and emerging Commercial Strategy and delegate authority to the Director of Finance to resource this proposed new post.

(g)  To note that an update report be brought to Cabinet by September 2019 that will include the proposed Commercial Strategy and Action Plan.  The report will also include the Terms of Reference which will, if approved, be reported to Council.