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OTC Software Technology Showcase Intro

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  • 1. Software Technology Showcase Featuring technologies from the School of Medicine, College of Computer Science and Engineering, Center for Education and Human Development, the Center for Transportation Studies, among others. 11.10.2010
  • 2. OTC’s Mission • To translate University of Minnesota research into new products and services that provide growth opportunities for our licensees, benefit the public good, improve the quality of life, and generate revenue to support the University's research and education goals. Office for Technology Commercialization 2
  • 3. Office for Technology Commercialization Business Units Digital Technologies Life Sciences Engineering and Agricultural and Physical Sciences Horticultural Sciences Venture Center Today’s Showcase: Software Office for Technology Commercialization 3
  • 4. Stage Gate Process: ‘Moving technologies from lab to license’ An example of OTC incorporating successful industry-based processes File Provisional Patents File Worldwide Decision to License to Spin Patents Out Company: OTC Venture Center Stage 3 • Perform Stage 4 Stage 1 Stage 2 Financial •Contact Stage 5 Analysis, •New Idea/ Create Prospective Stage 6 •Develop Licensees •Negotiate Possible Marketing Business business & •Close Deal Invention Strategy •Or initiate Case legal terms Received including start-up detailed formation ‘voice of the customer’ Decision to License to Established Close Close Company Both Strategy & Marketing Managers Strategy Managers Marketing Managers and/or Venture Center Note: Size of funnel qualitatively represents number of technologies in each stage. Office for Technology Commercialization 4
  • 5. Typical Elements of a License Agreement License Fee – After the license is signed, the amount depends on the market value of the technology. Patent Reimbursement Costs – Costs incurred to patent the technology. Development Period – For a technology requiring further development, the UMN agreement can provide for a development period during which time the annual license fees are reduced. Royalties – Paid when products are sold. Royalty rates depend on the market value of the technology. Minimum Royalty – The UMN expects a minimum royalty each year. Additional licensing term flexibility can be inserted on a case by case basis…. Equity – With mutual consent, the University and the Licensee may agree to grant the University equity holdings in the company as a partial offset against other expenses. Fast Track Opportunity License – An approach to lock-in royalty rates before development is complete and eliminate patent costs during the development period in exchange for a single annual fee. Office for Technology Commercialization 5
  • 6. Economic Ecosystem Must All Work in Concert- University is One of Several Elements Entrepreneurially Focused Policies and Supportive Infrastructure Availability of Providing Seed Capital Innovation Experienced Management with Proven Success Office for Technology Commercialization 6
  • 7. license.umn.edu Office for Technology Commercialization 55
  • 8. For more information on these technologies… Contact Andrew Morrow Technology Marketing Manager amorrow@umn.edu 612.626.7283 Office for Technology Commercialization 56