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    P speser P speser Presentation Transcript

    • New Paradigms for www.ForesightST.com Foresight Science & TechnologyIndustrial PartneringPhyl Speser, J.D., Ph.DCEO, Foresight Science & Technology Incorporated andVP Membership, Association of University Technology ManagersNote: the views expressed here are those of the author alone. Affiliations are for information purposes only. 1
    • www.ForesightST.com Foresight Science & Technology• How to get deals for early stage technologies.• How to get deals for technologies with little immediate commercial interest on their own.• How to meet objectives of multiple missions while being net cash flow positiveCHALLENGES 2
    • FRAMEWORK FOR DISCUSSION Foresight Science & Technology 3 www.ForesightST.com
    • IPPCore Mission is to Create www.ForesightST.com Foresight Science & Technology Socio- Economic Benefits 4
    • Corporate Core Mission isProfit, Market Share, andSurvival www.ForesightST.com Foresight Science & Technology • No-one buys technology for the sake of technology • Product advantage is critical threshold • Ease of Use and Price count • Risk exists where product advantage cannot be predicted with certainty 5
    • Relationships Built viaInformation and the Ability toAct on It Low Likelihood of receiving new information High High Uncertainty www.ForesightST.com Foresight Science & Technology Moderate High Managerial Flexibility Flexibility Value Flexibility Value Ability to respond Room for Low Moderate Flexibility Value Flexibility Value 6 LowMarco Antonio Guimarães Dias, Petrobras and PUC-Rio, Brazil, 2003,www.puc-rio.br/marco.ind /
    • Information About: • Economic Value • Strategic Value • Income Statement • Balance Sheet Focused Focused • IP as an Intangible • NPV Asset www.ForesightST.com Foresight Science & Technology • Revenues – Expenses • IP Value is • Revenues – COGS = • Upside Income Gross Profit Potential over time • Gross Profit – • Affecting Postive Volatility of Stock Price (Overhead + G&A) = Operating Income • Operating Income – (Interest and Taxes) = Net Profit 7
    • All Industrial Partnering can beviewed through “Option Logic”• Revenues always are uncertain and especially with low TRL technologies the NPV is often low due to technical and market risk• There always a strike price• The partner can always fail to strike the option if it does not www.ForesightST.com Foresight Science & Technology pencil at the time of expiration 8
    • www.ForesightST.com Foresight Science & TechnologyNothing happens without a sale.David SpeserGETTING DEALS FOR IMMATURE 9TECHNOLOGIES
    • Best Practice #1• Integration of Licensing with Sponsored Research • TRL and NPV Driven • Integrates well with Concurrent Engineering • Possible Harbinger of Paradigm Shift www.ForesightST.com Foresight Science & Technology • Shift in the way value is calculated 10
    • Foresight Science & Technology11 www.ForesightST.com
    • Managers Linking with Product Line Foresight Science & Technology12 www.ForesightST.com
    • Portfolios of Companies Foresight Science & Technology13 www.ForesightST.com
    • Portfolios and Partnering Foresight Science & Technology14 www.ForesightST.com
    • Product Advantage• Examine Areas of Strength • Strong IP Portfolio in Technology Niche • IPKit® Potential www.ForesightST.com Foresight Science & Technology • Unique Facilities • Solid Core Staffing• Intersection with User Needs • 5-10 yr. Roadmap • Trends in Dominant Design Favorable 15
    • IPKits® Foresight Science & Technology16 www.ForesightST.com
    • PVGO Advantage First Mover Foresight Science & Technology17 www.ForesightST.com
    • Extracting PVGO Technologies Currently Used or Technologies New to Dominant Associated with the Dominant Design DesignFunctionalities and/or Features Incremental Innovation – Focused Radical Innovation – CRADA orCurrently Found In or Associated Teams In-House or at Traditional Contract Research withwith the Dominant Design Vendor Universities or Government Labs www.ForesightST.com Foresight Science & Technology or Contract work at Non-Profit R&D Performers and Non- Traditional Vendors (Spin-Up or Out)Functionalities and/or Features Adaptive Innovation – Disruptive Technologies –New to the Dominant Design Multidisciplinary Teams In-House Multidisciplinary Teams at Small or Contract Research with Vendors, Companies and Think Tanks or Non-Profit R&D Performers CRADA with Universities or Government Labs (Spin-Out or Up) 18
    • Federal Funding as Leverage Transition Development www.ForesightST.com Foresight Science & Technology Sponsored Govt. or Research Foundation Subsidy 19
    • Field of Use Consortia/Optioning Global Warming Resource Mgt. Aerospace Medical Mining NASA Phototherapy Optical Surgery Laser Weapons Mission Importance (1-5) Diognostic Imaging Minerals Analysis Deposit Location Cockpit Displays Earth Observation IR, UV, Visible Sensors Great Observatories Precision Agriculture Legend: Brown – www.ForesightST.com Foresight Science & Technology NASA, High confidence Green - Market research based, Moderate confidence Red- Guess, Market research needed Technologies Black-- Experience Multispectral image analysis 5 5 5 2 3 1 3 5 5 5 3 1 based, Moderate Wavefront control 5 5 2 2 5 1 3 3 3 5 2 5 confidence Software Wavefront Manipulation 5 5 5 2 5 1 3 4 4 5 3 3 Specialised Calibration 20 Laboratories 5 5 2 1 1 2 2 1 1 3 1 2
    • Best Practice # 2• Diversification of Licensee Customer Segments • TRL and Translational Funding Driven • Supply Chain Model: Uni → SB → MLE www.ForesightST.com Foresight Science & Technology • Multiple Transaction/Player Deals 21
    • Pharma Med. Devices www.ForesightST.com Foresight Science & TechnologyChemicals/Materials Other Federal SBIR/STTR Corporate Acquisition, Merger, IPOIT Agency Funding State Funds Venture Early OrdersDefenseTransportation Agency Mission Funds → → → → →Areospace 22 Angel Funds → → Venture Capital → → → → → →Electronics/Optics
    • Using In-Kind as “Funding”Virginia Military Institute Fireand Leaf Cutting Ant Control • USDA CRADA to Validate• University of Rhode Island www.ForesightST.com Foresight Science & Technology • Partner with Sloan- Kettering using GE Medical Funding for Clinical Trials 23
    • Worst Practices• Treat all technologies as equally important • Patent everything • No formal prioritization scheme• Use one approach for all technologies www.ForesightST.com Foresight Science & Technology 24
    • www.ForesightST.com Foresight Science & TechnologyIf opportunity doesn’t knock, build a door.Milton BerleGETTING DEALS FOR TECHNOLOGIES 25WITHOUT COMMERCIAL TRACTION
    • Best Practice 1:• Aggregate Into Portfolios • Nortel Portfolio • Wireless Freedom to Operate and Ability to Exclude www.ForesightST.com Foresight Science & Technology • $4.5 billion • Apple Inc., Microsoft Corp., Research in Motion Ltd., EMC Corp., L.M. Ericsson Telephone Co., and Sony Corp • Numbers Count (~6000 here) • Avoid supporting Non- Operating Companies (Trolls) 26
    • Best Practice #2• Express Licenses • Recognize most licenses lose money when transaction costs included • Adopts Southwest Airlines “Remove the Aggravation for Customers” Approach www.ForesightST.com Foresight Science & Technology • Many Models as Disruptive to Existing Dominant Design • Glascow Easy Access Social Benefit Model • DoE, UNC, Hawaii Give-Away Cheap Model • Foresight 3-Tier Model 27
    • High Now Short-Term Long TermSorting Criteria:1) Strength of Intellectual Asset Portfolio2) Importance of Income Generation and Knowledge Dissemination in www.ForesightST.com Foresight Science & Technology Mission3) Revenue From Long-Term Short and Mid-Term Market(s) Sustainable Competitive Advantage4) Staff/Contractor Competitive Efficiency and Advantage Efficacy Low Now Later © Foresight Science and Technology 28
    • University of Glasgow EasyAccess IP • Focus on low value technologies • Technology is free so long as viable business plan (with www.ForesightST.com Foresight Science & Technology milestones) leading to economic or social benefit • No guarantee of IP maintenance unless paid for • Can be exclusive or non- exclusive • Foresight Twist: Charge for Consulting/Knowhow Transfer 29
    • AUTM GTP Foresight Science & Technology30 www.ForesightST.com
    • Best Practice #3• Portfolio Aggregation • Quantity Is Sometimes as Important As Quality • Stacking is increasingly common• Many Models www.ForesightST.com Foresight Science & Technology • Dating Sites and Auction Houses • Portfolio Aggregators like Intellectual Ventures • Strategic Aggregators like Foresight IPKit® Mutual Funds 31
    • Best Practice #4• Pipeline Relationships • Interaction with Multiple Units • Repeat www.ForesightST.com Foresight Science & Technology “Games” rather Single “Games” • BP energy Biosciences Institute at UC Berkley • Siemens Ocean Power Initiative 32 Source: Wayne Johnson Vice President, HP University Relations, “Globalization: Implications for ERCs,” Worldwide, November 17, 2005
    • Spin-Up Companies• Use Partners to Leverage Other Programs, Foundations, and Associations for Funding • NIST’s use of SBIR to www.ForesightST.com Foresight Science & Technology Mature its Inventions • Gates, Coulter, Lokey Foundation Biomedical Translational Funding • State High Tech Economic Development • International Collaboration Funds 33
    • Worst Practices• Excessive reliance on “Social Media” or passive web posting• Leave in “bottom drawer” and pay patent maintenance fees www.ForesightST.com Foresight Science & Technology 34
    • www.ForesightST.com Foresight Science & Technology• A well-defined imagination is the source of great deeds. Chinese Fortune CookieMEET MULTIPLE MISSION WITH 35POSITIVE CASH FLOW
    • Best Practice 1: Lean Six Sigma Foresight Science & Technology36 www.ForesightST.com
    • Best Practice 2: KnowledgeCapture and Sharing• Knowledge Capture and Sharing Infrastructure • Web Infrastructure • Data • Market Data www.ForesightST.com Foresight Science & Technology • Targets • Companies • Venture • Funding Sources • Terms • Licenses • Sponsored Research • CRADA • Knowhow 37 • Training • Experts Directory
    • Best Practice 3: Benchmarking• AUTM Benchmarking Highlights from the AUTM U.S. Licensing Activity Survey Summary: FY2009 include: • Access to Benchmarking • 658 new commercial products Data in Licensing Surveys introduced • 5,328 total license and options www.ForesightST.com Foresight Science & Technology • Network with executed Colleagues Globally • 596 new companies formed, 435 of • Techno-l, Linked-In which had their primary place of • Annual and Regional business in the licensing institution’s Meetings home state • 3,423startup companies still operating • AUTM Practice Manual as of the end of FY2009 • Basic to Advanced • $53.9 billion total sponsored research Training expenditures 38 • CLP and RTTP credits
    • Best Practice #4• Moving the TTO Outside the University • Useful where: • University Culture and/or Legal Constraints make “Ethical Business” Operations and Interactions Difficult or Impossible • Economies of Scale and Scope desired www.ForesightST.com Foresight Science & Technology • More flexibility of approaches desired • Models • Captive Foundations • Captive Corporations • Contractors • Owned by one user • Independently owned 39
    • Best Practice #5• Focus on Regional or Technological Ecosystems • Research suggests universities can stimulate Economic Development Waves • In Sweden, Linköping University’s Cleantech Cluster Model www.ForesightST.com Foresight Science & Technology 40
    • Regional Ecosystem Foresight Science & Technology41 www.ForesightST.com
    • Technological Ecosystems Industries www.ForesightST.com Foresight Science & Technology Technologies Buyers & Sellers 42
    • Worst Practices• Accepting it is OK to run a loss operation• Inadequate in-reach and training of faculty and staff• Failure to create mechanisms for linkage with local businesses www.ForesightST.com Foresight Science & Technology 43
    • Join the Association of UniversityTechnology Managers• Get a Global Support Network for Licensing and Other Deals• Meet the Buyers at Meetings and On-Line via GTP • Private rooms and scheduling for deal making between sellers and buyers of technology• Professional Development Courses and Webinars www.ForesightST.com Foresight Science & Technology• Benchmarking and other Metrics• Practice Manual 44
    • • Nothing happens without a sale. David Speser• If opportunity doesn’t www.ForesightST.com Foresight Science & Technology knock, build a door. Milton Berle• A well-defined imagination is the source of great deeds. Chinese Fortune Cookie 45