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  • Step 1: Idea Stage: Commercialization starts here An imagination of a breakthrough idea links a technology with a market need, At this stage, prospects for a technical breakthrough get combined with a potentially attractive market opportunity. Most ideas are also killed at this stage. Why do you think so many ideas are killed here? Competition begins here -- competition of ideas for resources. The attrition of ideas is due to subjective idea judgement. Investment at this stage usually low: Example: Small Business Innovation Research (SBIR) grants: $50,000 in a small- company idea or technology -- “Phase I” grant Phase II-- requires significant advancement of the technology, a prototype for example, with a larger investment, up to $500,000 Quicklook technology assessment useful at this stage. Limited information constrains the analysis Useful to determine whether to proceed and invest more Idea stage is most closely associated with basic research Next stage, Imagine, most closely associated with applied research But research can occur at every stage in the commercialization process. Often each stage requires a different type of research. What are special challenges at this stage? There are many ideas competing for resources. The determination of whether an idea is worth pursuing is a very subjective action.
  • Step 1: Idea Stage: Commercialization starts here An imagination of a breakthrough idea links a technology with a market need, At this stage, prospects for a technical breakthrough get combined with a potentially attractive market opportunity. Most ideas are also killed at this stage. Why do you think so many ideas are killed here? Competition begins here -- competition of ideas for resources. The attrition of ideas is due to subjective idea judgement. Investment at this stage usually low: Example: Small Business Innovation Research (SBIR) grants: $50,000 in a small- company idea or technology -- “Phase I” grant Phase II-- requires significant advancement of the technology, a prototype for example, with a larger investment, up to $500,000 Quicklook technology assessment useful at this stage. Limited information constrains the analysis Useful to determine whether to proceed and invest more Idea stage is most closely associated with basic research Next stage, Imagine, most closely associated with applied research But research can occur at every stage in the commercialization process. Often each stage requires a different type of research. What are special challenges at this stage? There are many ideas competing for resources. The determination of whether an idea is worth pursuing is a very subjective action.
  • LCG starts

University of Texas, Austin University of Texas, Austin Presentation Transcript

    • Integrated Technology Commercialization
    • A Presentation to
    • Global Venture Lab Network
    • Inaugural Academic Summit
    • UC Berkeley
    • Steven P. Nichols, Ph. D, J.D., P.E.
    • Professor of Mechanical Engineering
    • Director, Chair of Free Enterprise
    • Cockrell School of Engineering
    • The University of Texas at Austin
    March 19, 2009 © Steven P. Nichols 2009
  • Chair of Free Enterprise
    • … to create and nurture a culture of technology innovation, creativity, and leadership at The University of Texas and the global community that we serve.
    March 19, 2009 © Steven P. Nichols 2009
  • Entrepreneurial Infrastructure March 19, 2009 © Steven P. Nichols 2009
  • March 19, 2009 © Steven P. Nichols 2009
  • March 19, 2009 © Steven P. Nichols 2009
  • March 19, 2009 © Steven P. Nichols 2009
  • March 19, 2009 © Steven P. Nichols 2009
  • Does Technology Have Inherent Application?
    • Intellectual value?
    • Academic value?
    • Societal value?
    March 19, 2009 © Steven P. Nichols 2009
  • Does Technology Have Inherent Application?
    • Intellectual value?
    • Academic value?
    • Societal value?
    • Technology has no additional social value until one creates a link between the technology and social need
    March 19, 2009 © Steven P. Nichols 2009
  • Missions of University
    • Universities create and disseminate knowledge
      • Education
      • Research
      • Service
    March 19, 2009 © Steven P. Nichols 2009
  • Knowledge Transfer Process March 19, 2009 © Steven P. Nichols 2009 Knowledge Generation Transfer Functions Social & Economic Value Added
  • March 19, 2009 © Steven P. Nichols 2009 University (Knowledge Generation) Funding Sources Graduates Faculty Consulting Faculty / Staff Departures Publications Non-traditional Transfer Functions Social Value Added Economic Value Added Natural Non-traditional Mechanisms:
  • Examples of Economic Value Added from University of Texas (Based on fundamental research)
    • Tracor
    • National Instruments
    • Nanotechnologies Inc.
    March 19, 2009 © Steven P. Nichols 2009
  • Examples of Economic Value Added from University of Texas (Based on fundamental research)
    • LabNow (AIDS detection—UT/Harvard)
    • Molecular Imprints
    • Therasense (FreeStyle)
    March 19, 2009 © Steven P. Nichols 2009
  • An example of job and value creation from UT Austin
    • Molecular Imprints
      • University of Texas at Austin invention
      • $ 60+ M in out of state capital
      • $ 36 M in Federal funding
      • $ 3 M in ETF funding
      • 100+ jobs
      • World changing technology – Nano printing press
    March 19, 2009 © Steven P. Nichols 2009
  • An example of job and value creation from UT Austin (but not in Texas)
    • Freestyle Diabetes monitor
      • Inventor – Adam Heller, University of Texas at Austin
      • Founded company – Therasense in Alameda, CA.
      • Revenues of $177M
      • Acquired by Abbott for $1.2B in 2005
      • Abbott moved its entire diabetes division to California
    March 19, 2009 © Steven P. Nichols 2009
  • March 19, 2009 © Steven P. Nichols 2009 Knowledge Generation Natural Transfer Functions Non-traditional Transfer Functions Social & Economic Value Added
  • Identification of the Innovation Gap in Engineering Education March 19, 2009 © Steven P. Nichols 2009 The Commercialization Process and Innovation Gap Sustaining Operations Production & Marketing Commercial Demonstration Specific Product Creation Tech./Mkt. Opportunity Creation Knowledge Creation FEEDBACK Business Plans & Incubators INNOVATION (Synthesis) Univ. Research INNOVATION GAP
  • Creation of the Idea to Product® Program March 19, 2009 © Steven P. Nichols 2009 Crossing the Innovation Gap: The I2P® Program Sustaining Operations Production & Marketing Commercial Demonstration Specific Product Creation Tech./Mkt. Opportunity Creation Knowledge Creation FEEDBACK Business Plans & Incubators INNOVATION (Synthesis) The Idea to Product® Program (curricular and extra-curricular) Univ. Research
    • Stockholm School of Entrepreneurship, Sweden
    • Texas A&M University
    • Trinity College Dublin, Ireland
    • Universidade Estadual Paulista Julio de Mesquita Filho/ Universidade Estadual de Ponta Grossa/ Fundação Getulio Vargas, Brazil
    • University of New Hampshire
    • University of Colorado at Boulder
    • University of Texas
    • City University London, UK
    • COTEC, Portugal
    • Georgia Institute of Technology/ Emory University
    • Illinois Institute of Technology
    • Keio University, Japan
    • Penn State University
    • Purdue University/ Indiana University
    • RWTH Aachen University, Germany
  • UT Partners in the Texas Alliance for Technology Commercialization March 19, 2009 © Steven P. Nichols 2009 DEPARTMENT OF BIOMEDICAL ENGINEERING Office of Technology Commercialization Office of Sponsored Projects The University of Texas at Austin Office of the V. P. for Research Center for Nano- and Molecular Science & Technology Herb Kelleher Center for Entrepreneurship McCombs School of Business The College of Natural Sciences
  • Partially Funded by NSF Grant #0650249 Partnership for Innovation Program March 19, 2009 © Steven P. Nichols 2009
  • March 19, 2009 © Steven P. Nichols 2009 Knowledge Generation Natural Transfer Functions Non-traditional Transfer Functions Social & Economic Value Added
  • March 19, 2009 © Steven P. Nichols 2009