Transcript of "Ruggero Frezza - Uni Padova - M31 - Stanford - Feb 14 2011"
Università di Padova Founded in 1222 More than 65.000 students More than 2.400 researchers Strong engineering, agricultural,medical and law schools Budget > 600 Mln Euro 2
Tech Transfer Oﬃces in Italy TT oﬃces have been opened only recently Only 5 TT oﬃces opened before the year 2000, 58 in the year 2008 3
Yearly budget of Universi<es with TTO Budget of the top 5 UniversiJes on average ~ 650 Mln Euro Average on all UniversiJes ~ 210 Mln Euro Approximately 26% of the funding comes from the government Another 26% from research contracts 12% comes from the European Union 12% from local regional government 14% from the universiJes own resources the remaining 10% from diﬀerent sources, bank foundaJons, etc. 4
TTO activities The TT oﬃces declare the following main ac<vi<es: Support to creaJon and to the development of spinout companies IP management Research contracts with companies Management of conﬂicts of interest 5
Support to spinout companies Business Plan compeJJons, seminars on business plan wriJng, entrepreneurship Beneﬁcial condiJons on IP licensing to spinout companies Lab space, instruments Company incubators The University may become a minority shareholder 6
The spinout scenario How many, where, sectors: In 2008 the overall number of university spinout companies was higher than 800 The average revenues are about 500 K Euro per year The creaJon rate was higher than 100/per year since 2006 Spinouts are based mostly in northern and central Italy, but also in some regions of the south like Puglia The three main sectors are: ICT 33%, Energy cleantech 16%, Life sciences 15% 7
Spinout and venture According to AIFI, the Venture Capital and Business Angel Associa<on in Italy, the total seed investment in Italy is lower than 40 Mln Euro per year The investments are mostly in companies that are NOT university spinout 8
Spinout and venture Most spinout companies are not ﬁt for investments by venture capitals Some direct examples of two spinout companies that I personally founded before M31: eMoJon Srl, ﬁrst oﬃcial spinout company of the University of Padova; VI-‐grade GMBH. 9
eMo<on Srl Founded in the year 2000 with an investment of 300 K Euro from a business angel and a private company It oﬀers moJon capture systems for clinical applicaJons Based on research on tracking and data associaJon 10
eMo<on Srl Sold in 2002 to a public company and merged into BTS Spa www.bts.it Today it counts 28 employees and it has revenues for about 5 Mln Euro 11
VI-‐grade GMBH Founded with a manager who had an important sale experience in the area It oﬀers CAE tools for the automoJve, train and aerospace industry Based on research on the control of mechanical systems 12
VI-‐grade GMBH VI-‐grade counts 25 employees and it has revenues for 2.5 Mln Euro It is owned by the managers who joined the company one year acer its incorporaJon 13
IP issues In both eMoJon and VI-‐grade cases the support by the TTO on the possibility of protecJng the products with patents was non existent. There was no “procedure” The Italian law assigns the ownership of the invenJon and the rights to the inventor, not to the University Most TTO do not have budget to cover the costs for the deposit of the patent applicaJon 14
The IP scenario The “top 5” universiJes count at the end of 2008 a porfolio of about 200 patents each The average of all the universiJes that have a TTO is of about 40 patents each The investment in IP is, on the average, of about 220 thousand Euro per year for the “top 5” and of somewhat more than 50 thousand Euro for all the universiJes with a TTO On the average the “top 5” close 5 to 7 licensing deals per year and all the universiJes 1 15
The IP scenario The revenues generated by the licensing deals for the “top 5” universiJes is about 150 thousand Euro per year on average Netval, an associaJon of 46 TTO in Italy recently assigned to a private company the commercializaJon of their IP 16
The minuses of the Italian scenario Doctoral schools • There are few students • The basin of airacJon is local, few internaJonal students • Entrepreneurship is weak amongst the PhD students • The recruiJng process is defecJve The innova<on ecosystem • There is a limited M&A acJvity on high technology companies • The intangibles are ocen not considered in the evaluaJon of a company • There is no altude to design companies that work in the early stages of the supply chain oﬀering IP 17
The pluses of the Italian scenario Opportuni<es • There are numerous pockets of excellency in research Italy is the third country in the world for number of scienJﬁc publicaJons • Engineers are prepared, skilled, loyal and do not cost astronomically • Funds are becoming available, see for example the Fondo Italiano di InvesJmento • The UE is pushing on the local regional governments to support the creaJon of new ventures • The quality of life is high and can airact skilled managers and researchers from abroad 18
The needs of the Italian scenario Doctoral schools and research • InternazionalizaJon • Stronger and focused public investments on doctoral programs • Support for hiring few qualiﬁed research managers, world famous scienJsts capable of managing large labs The innova<on eco system • Build the innovaJon supply chain starJng from companies accellerators linked to early stage venture capitals • Focus on the global market for the M&A acJvity 19
What does M31 do? M31 Italia turns innovaJve technologies into start-‐ups. M31 USA turns technology start-‐ups into successful global companies. M31 was incubated in Startcube the University of Padova start up accellerator 20
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