View stunning SlideShares in full-screen with the new iOS app!Introducing SlideShare for AndroidExplore all your favorite topics in the SlideShare appGet the SlideShare app to Save for Later — even offline
View stunning SlideShares in full-screen with the new Android app!View stunning SlideShares in full-screen with the new iOS app!
All Conference Attendees Will Receive this CD: Introduction Program Speakers Presentations Sponsors Resources for Start-Ups Hosted by : School of Biological Sciences Office of Technology Alliances Center for Entrepreneurship & Innovation Reports : Start-Up Companies Founded on UCI Technologies Faculty/Industry Partnerships Faculty Handbook UCI Technologies Available for Licensing
FOUR REASONS TO BE OPTIMISTIC ABOUT START-UPS AT UCI
OPTIMISM FOR START-UPS #1 Venture investing is coming back
Biotechnology and Medical Device Venture Investing in 2003 * Data from the PricewaterhouseCoopers - Thomson Venture Economics – National Venture Capital Association Moneytree Study
OPTIMISM FOR START-UPS #2 Big Pharmas must fill their pipelines
242 jobs created, 202 of which are in Orange County and 240 are in California.
License/option agreements with active start-ups transferred rights to:
40 issued patents
84 patent applications
10 copyrighted works
UCI Start-Ups have contributed over $30M to UCI :
$21M in research funding
$2.8M in patent costs to protect UC-owned inventions
$5.2M in royalties and fees
New Drug Discovery Center Under Early-Stage Development Mission is two-fold: 1. To promote transdisciplinary efforts in basic drug discovery research 2. To facilitate the validation, optimization and commercialization of potential new drugs discovered through these efforts Champion: Dr. Daniele Piomelli Department of Pharmacology
Start-Up Companies, the University & the Faculty Entrepreneur
An Overview Larry Cohn, Partner Stradling Yocca Carlson & Rauth
The University Perspective David Schetter, Assistant Vice Chancellor Research & Technology Alliances, UC Irvine
The Faculty Entrepreneur Perspective Gary Lynch, Ph.D., Professor Psychiatry & Human Behavior, College of Medicine, UC Irvine
Time and lots of it companies eat up as much time as is available….
ATAD Airline travel addiction disorder (ATAD) is the number one psychiatric disorder in contemporary US corporations. Incidence in white, male executives over age 45 is nearly 100%. Victims are characterized by an irresistible urge to take a flight when they have been home for more than 2 weeks. This leads to a constant nagging to go on useless trips. This will not be a problem for any of the growing number of academics who already suffer from ATAD. But if this does not include you, then remember that ATAD, at best a nuisance, is contagious and at present untreatable.
The Start-up Landscape Early Stage Company License Rights Up Fronts, Milestones, Royalties Invention Information Financial Split Consulting Consulting Fees Academic Inventor Technology Transfer Office Family Colleagues Department Public/Media University Admin. Competitors, Investors Corporate Partners
High leverage for the start-up (use of labs, equipment, instrumentation)
Payment of full overhead required
Conflicts of interest need to be disclosed and managed
Provides access to improvement inventions & new inventions in the field
Fulfills early-stage diligence requirements
A”Win-Win-Win” Strategy for Industry/UC Partnering & Overhead - Royalty Shares UNIVERSITY PRINCIPAL INVESTIGATOR SPONSOR/ LICENSEE OFFICE OF TECHNOLOGY ALLIANCES Direct Cost Revenue Revenue from Fees, Royalties Salary/Facilities Intellectual Property New Knowledge/Diligence Commercial Rights
PATENTS…. shape the idea before bringing it to the university let alone to initial backers.
PUBLICATIONS…. play a much larger role than is generally recognized.
PRESS…. let the university press office open the doors.
Economist articles >> Defense companies >> VCs >> Meno Corp >> Synaptics The Press Is a Whimsical But Sometimes Useful Creature 5 July Two successive but unrelated articles in a major magazine prompt a startup 16 August
New York Press Really Counts Because That’s Where the Money Is The New York Times Prompts the Formation of a Second Company The New York Times >> New York Investment Bank >> Cortex >> IPO 2 years later One year later….
But Be Careful: The Press can Turn On You In a Flash The LA Times several years later.