Integrating UniversityCommercialization and State  Economic Development       Growing State Economies Summit        Nation...
2004 Utah Changed• Jon Huntsman became Governor• USTAR concept ft formulated                        l t d• Utah’s Presiden...
USTAR Economic Leverage            Papers . . . . . . . . . . Patents . . . . . . . . . . Products                        ...
USTAR Team Funding• Start-up: average $5 million/team  –   3 PIs per team  –   teams average 30 members  –   computers and...
Technology Commercialization          Centers          C t            • Statewide innovation backbone              providi...
USTAR Return on Investment                                    University                                 Commercialization...
Utah Transformed Operation• 2004 Technology Prevention  Organization    g• “Hoping the coyotes will raise them”• Bottom th...
Returns from Commercialization• Dollars are in  – Equity and royalties  – Research back to the University  – Donations and...
University Inventors, Startups, & Revenue                                            Faculty Inventors                    ...
Leading Indicator: Investment$1,600,000,000$1,400,000,000$1 400 000 000$1,200,000,000$1,000,000,000                       ...
Economic Results • 2004-2011: 134 companies created     – 74 companies 1970-2003 • 168 University of Utah companies       ...
What we know now• Look for leverage/OPM• F d Critical P th  Fund C iti l Paths  – Monitor milestones  – Do not fund “no re...
Upcoming SlideShare
Loading in …5
×

2012 National Governors Association Growing State Economies Summit

333 views

Published on

Describes the Utah Science, Technology, and Research (USTAR) Economic Development Initiative, the collaboration strategy with Utah's research universities, and the technology commercialization organization changes made by the University of Utah.

Published in: Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
333
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

2012 National Governors Association Growing State Economies Summit

  1. 1. Integrating UniversityCommercialization and State Economic Development Growing State Economies Summit National Governors Association Omaha, Omaha Nebraska April 12, 2012 Jack Brittain, PhD Pierre Lassonde Presidential Chair University of Utah
  2. 2. 2004 Utah Changed• Jon Huntsman became Governor• USTAR concept ft formulated l t d• Utah’s President Michael Young
  3. 3. USTAR Economic Leverage Papers . . . . . . . . . . Patents . . . . . . . . . . Products 123,406 $25M/year USTAR Team jobs Investment Average 422 $166M/year USTAR Research companies $250M Funding one time one-time AverageInfrastructure $166M/year Investment State TaxesCumulative $977M $4,992M New $4,979M New State Investment Research Funds State Revenues
  4. 4. USTAR Team Funding• Start-up: average $5 million/team – 3 PIs per team – teams average 30 members – computers and scientific equipment – moving costs for research – salaries and benefits costs are ongoing costs• Research funds pay salaries after 4 years – Hire more teams – USTAR provides long term salary at $500,000 per team for expenses not covered by federal grants
  5. 5. Technology Commercialization Centers C t • Statewide innovation backbone providing business access to technology resources. • Includes access to seed capital and fi d financing/advisory support i / d i t for technology start-ups. • Advice from seasoned entrepreneurs with a personal t ith l interest in the communities they serve.
  6. 6. USTAR Return on Investment University Commercialization $25 Million $4.9 Billion 123,406 new $5 Billion in annual state 422 new external jobs paying new taxinvestment & new research $62 Billion in revenues for $250 Million companies funds salaries Utah for buildings Is the Critical Path
  7. 7. Utah Transformed Operation• 2004 Technology Prevention Organization g• “Hoping the coyotes will raise them”• Bottom third of TTOs, ranked 96th • 2008 Sustained Success • Tied MIT #1 after 2 years at #2 • 09 Legislative proclamation • #1 2009 and 2010 • 5000th invention in 2010 • Over 300 inventions 2011-12
  8. 8. Returns from Commercialization• Dollars are in – Equity and royalties – Research back to the University – Donations and other support• University of Utah received over $35 million in gifts to support commercialization• Commercial-sponsored research yields more than license income
  9. 9. University Inventors, Startups, & Revenue Faculty Inventors Revenues $90,000,000180 $80,000,000160 $70,000,000140 $60,000,000120 $50,000,000100 $40,000,000 80 $30,000,000 60 $20,000,000 $20 000 000 40 $10,000,000 20 $0 0 FY FY FY FY FY FY FY FY FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 2004 2005 2006 2007 2008 2009 2010 2011 Repeat Inventors New Inventors Commercial Research Commercial Clinical Research Licensing Start-ups2520151050 1970 1 1971 1 1972 1 1973 1 1974 1 1975 1 1976 1 1977 1 1978 1 1979 1 1980 1 1981 1 1982 1 1983 1 1984 1 1985 1 1986 1 1987 1 1988 1 1989 1 1990 1 1991 1 1992 1 1993 1 1994 1 1995 1 1996 1 1997 1 1998 1 1999 1 2000 2 2001 2 2002 2 2003 2 2004 2 2005 2 2006 2 2007 2 2008 2 2009 2 2010 2 2011 2
  10. 10. Leading Indicator: Investment$1,600,000,000$1,400,000,000$1 400 000 000$1,200,000,000$1,000,000,000 Cumulative Grants Funding $800,000,000 Cumulative Investment Funding $600,000,000 Value Private Companies $400,000,000 $200,000,000 $0 2005 2006 2007 2008 2009 2010 2011 2012
  11. 11. Economic Results • 2004-2011: 134 companies created – 74 companies 1970-2003 • 168 University of Utah companies y p – raised $568 million in financing 2005-12 – 7 160 Utah employees total Utah direct and 7,160 employees, indirect employment: 19,818* – Total payroll over $947 million million* – Taxes generated per year: $96.2 million** 2011 Bureau of Economic and Business Research economic impact study
  12. 12. What we know now• Look for leverage/OPM• F d Critical P th Fund C iti l Paths – Monitor milestones – Do not fund “no results : no results”: post performance funding• Outcomes depend on shots on goal – control strangles speed and momentum – place small bets with immediate milestones• Capital Formation is about outcomes

×