Building and
Growing Innovation
Ecosystems
Dr. Gregory P. Pogue
July 30, 2014
Bienvenidos from Austin!!!
Hook ‘em Horns!
©IC2 Institute, The University of Texas at Austin 2
Why Austin?
•  According to Geekwire, Austin, TX is THE BEST place to start a company based on key business
metrics (see f...
Overview of Presentation
•  Investigation
•  Innovation
•  Pre-Incubation
•  Technology transfer
•  Incubation
•  Incubato...
Innovation-Based
Economic Process
©IC2 Institute, The University of Texas at Austin 5
Commercialization
Ecosystem
Educatio...
The Galapagos
Archipelago
©IC2 Institute, The University of Texas at Austin 6
The Galapagos Value
•  Projects Ecuador’s leadership in eco-tourism
•  Provides unique resources to understanding
natural ...
Protecting the Value of the
Asset
Protect the Asset
with Policies:
•  Policy for visitors,
boats, & tourists
•  Policy for...
Define
the
Asset
Protect
the
Asset
Value Creation
•  Tourism
•  Fishing
•  Job creation
•  Economic impact
•  National rep...
Protecting Intangible Assets –
Knowledge, Innovation
Protect the Asset
with Policies:
•  Intellectual property
policy and ...
Define
the
Asset
Protect
the
Asset
Value Creation
•  Company-university
relationships
•  Technology or
product licensing
i...
The Innovation Reef: the
IC2 Institute Ecosystem
•  Business acceleration is not as much
about space or services as proxim...
Incubation Ecosystem Analogy:
The Coral Reef
•  Aggregate dilute
resources to form
complex ecosystem
•  Structure to build...
Austin Technology Incubator:
Explicit ROI
We Get You Funded!!!
©IC2 Institute, The University of Texas at Austin 14
ATI Network Structure
•  ATI Cluster – 27 persons on average (full
time and student associates)
•  ATI Entrepreneur Alumni...
Operationalizing the ATI
Network
Core Advisor Cluster
ATI Alumni Cluster
Shared between Clusters
Broader Community
ATI Con...
Refined Analysis
•  Success Committees Analyzed: 9
•  Participants: 85 (less ATI – 63 persons)
•  Average number of outsid...
Reef Efficacy: Acceleration of
Companies to Capital
(2010-2014)
•  Worked/Trained 70 companies (admitted ~1/15
applicants)...
ATI Funding Map – Class of
2012
•  ATI brings Central Texas innovations to the world and the world’s
investors to Central ...
Developing an
International Reef Strategy
Austin,
TXCosta Rica
Turkey
Chile
Korea
Colombia
Mexico
Portugal
India
US
Networ...
Facilitating Technology
Transfer in Colombia
•  Development of Technology Transfer Offices in:
–  Medellin,
–  Bucaramanga...
Need for International orientation
Shifting from agricultural to industrialized mindset
Foster environment for SME creatio...
Having World Class Companies
is Not Enough…
• Current Challenges:
•  70% of the GDP is
concentrated in 60 companies
•  The...
Small and Medium Size
Enterprise Growth Initiative.
Strategy:	
  
•  Recruit	
  and	
  Evaluate	
  	
  
•  Simultaneous	
 ...
GDL/sdl SDL/gdl
Changing Entrepreneurs’
Perspectives
B
Value	
  
creation	
  
Actor	
  2	
  Actor	
  1	
  
C	
  
Value	
  ...
Results
From 2008-2013,
•  500 innovation/product/companies reviewed
•  >110 companies trained,
•  66 international busine...
Partial Deal Map
The Gyeonggi Innovation
Program Results
©IC2 Institute, The University of Texas at Austin 27
Need for International orientation and market
access
Shifting from research to innovation mindset
Foster environment for S...
1.  Development of a globally competitive and sustainable
commercialization infrastructure
2.  Facilitate networking among...
30
Building a Technology
Transfer Network
All public universities involved,
as well as those of leading Science
Parks, Inc...
•  	
  50+	
  specialized	
  training	
  and	
  networking	
  events	
  (1500+	
  par4cipants)	
  
•  	
  30+	
  internshi...
Learnings:
Reef-Based Incubation
•  Full Ecosystem Required – Technical expertise, business skill,
training, service capab...
Thank You!!!
Gregory P. Pogue, Ph.D.
Deputy Director and
Senior Research Scientist
IC2 Institute
The University of Texas a...
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Gregory Pogue - Innovación es más

  1. 1. Building and Growing Innovation Ecosystems Dr. Gregory P. Pogue July 30, 2014
  2. 2. Bienvenidos from Austin!!! Hook ‘em Horns! ©IC2 Institute, The University of Texas at Austin 2
  3. 3. Why Austin? •  According to Geekwire, Austin, TX is THE BEST place to start a company based on key business metrics (see figure above). •  CNN Money, Under30CEO and other expert business sources rank Austin as THE BEST place to start a business in the US. •  It is the home of The University of Texas, South by Southwest Interactive, Austin City Limits, the “Live Music Capital of the World,”where Formula One and MotoGP happen in North America, and lots more… •  It is a great laboratory for learning entrepreneurship from those who practice it every day! ©IC2 Institute, The University of Texas at Austin 3 2.  Seattle S:  $96,197  I-­‐T:  0.00% S-­‐T:  9.50%  P-­‐T:  1.38% H:  $395,800  Sq/Ft:  $28.88 7.  SF  Bay  Area S:  $144,828  I-­‐T:  13.30% S-­‐T:  8.75%  P-­‐T:  1.10% H:  $805,500  Sq/Ft:  $44.88 3.  Boulder S:  $93,590  I-­‐T:  4.63% S-­‐T:  8.21%  P-­‐T:  0.66% H:  $453,000  Sq/Ft:  $21.50 5.  Boston S:  $102,230  I-­‐T:  5.3% S-­‐T:  6.25%  P-­‐T:  1.31% H:  $396,300  Sq/Ft:  $46.26 4.  New  York S:  $98,541  I-­‐T:  8.97% S-­‐T:  8.88%  P-­‐T:  1.11% H:  $535,900  Sq/Ft:  $47.20 6.  Washington  DC S:  $100,488  I-­‐T:  8.95% S-­‐T:  8.21%  P-­‐T:  0.85% H:  $443,500  Sq/Ft:  $49.40 1.  AUSTIN,  TX S:  $93,240  I-­‐T:  0.00% S-­‐T:  8.25%  P-­‐T:  1.74% H:  $206,300  Sq/Ft:  $25.54 S:  Average  Tech  Salary       S-­‐T:  Sales  Tax     H:  Average  House  Cost   I-­‐T:  State  Income  Tax P-­‐T:  Property  Tax Sq/Ft:  OfOice  rental  per  sq/ft  
  4. 4. Overview of Presentation •  Investigation •  Innovation •  Pre-Incubation •  Technology transfer •  Incubation •  Incubators •  Acceleration •  In-Country Markets •  Growth •  International Markets ©IC2 Institute, The University of Texas at Austin 4
  5. 5. Innovation-Based Economic Process ©IC2 Institute, The University of Texas at Austin 5 Commercialization Ecosystem Education, Research and Technology Transfer Philanthropic Entities Markets and Business Relationships Government Policy and Action Innovation Economic Impact Incubation and Wisdom Funding Institutions Basic Research Licensing Start-Up Sponsored Research
  6. 6. The Galapagos Archipelago ©IC2 Institute, The University of Texas at Austin 6
  7. 7. The Galapagos Value •  Projects Ecuador’s leadership in eco-tourism •  Provides unique resources to understanding natural diversity •  Preserves most original biodiversity due to late human influence •  Human impact increases on the archipelago by locals and bio-tourism •  How to conserve the Galapagos as "a natural laboratory of evolution”? ©IC2 Institute, The University of Texas at Austin 7
  8. 8. Protecting the Value of the Asset Protect the Asset with Policies: •  Policy for visitors, boats, & tourists •  Policy for ecology conservation •  National sovereignty & governance •  Share value Define the Asset: •  Land reserve: 7,882 sq km •  Marine reserve: 50,000 sq km •  95% of island is protected lands ©IC2 Institute, The University of Texas at Austin 8
  9. 9. Define the Asset Protect the Asset Value Creation •  Tourism •  Fishing •  Job creation •  Economic impact •  National reputation •  National resources From Asset to Value ©IC2 Institute, The University of Texas at Austin 9
  10. 10. Protecting Intangible Assets – Knowledge, Innovation Protect the Asset with Policies: •  Intellectual property policy and compliance •  Determine regions to seek protection •  Court protection rules •  Share value Define the Asset: •  Unique design, process, composition or steps •  Compare with literature and product •  Determine best monetization strategy ©IC2 Institute, The University of Texas at Austin 10
  11. 11. Define the Asset Protect the Asset Value Creation •  Company-university relationships •  Technology or product licensing income •  New companies •  New jobs •  Tax revenues •  Shared value From Asset to Value ©IC2 Institute, The University of Texas at Austin 11
  12. 12. The Innovation Reef: the IC2 Institute Ecosystem •  Business acceleration is not as much about space or services as proximity •  Proximity to a high diversity of wisdom, business, and capital providers •  Impact is ~$150M/year in economy – from Central Texas to the world •  Our focus: learning how the ecosystem works and how and what to replicate in other locations ©IC2 Institute, The University of Texas at Austin 12
  13. 13. Incubation Ecosystem Analogy: The Coral Reef •  Aggregate dilute resources to form complex ecosystem •  Structure to build complex environment •  Provides protection from large predators •  Form mutualistic interactions among ecosystem players •  Grow and expand through recruitment and structural mechanisms Coral Reef Analogy Dilute, low diversity life Nexus point: maximum life and diversity Dilute, large life forms ©IC2 Institute, The University of Texas at Austin 13
  14. 14. Austin Technology Incubator: Explicit ROI We Get You Funded!!! ©IC2 Institute, The University of Texas at Austin 14
  15. 15. ATI Network Structure •  ATI Cluster – 27 persons on average (full time and student associates) •  ATI Entrepreneur Alumni Reunion Cluster – 223 individuals •  ATI Core Advisor Cluster – 338 individuals •  553 defined individuals (526 outside ATI) •  Broader access to Austin Community ©IC2 Institute, The University of Texas at Austin 15
  16. 16. Operationalizing the ATI Network Core Advisor Cluster ATI Alumni Cluster Shared between Clusters Broader Community ATI Constituents ©IC2 Institute, The University of Texas at Austin 16
  17. 17. Refined Analysis •  Success Committees Analyzed: 9 •  Participants: 85 (less ATI – 63 persons) •  Average number of outside participants: ~8 •  Proportion drawn from Core Advisor Cluster: ~60% •  Proportion drawn from ATI Entrepreneur Alumni Cluster: ~10% •  Proportion drawn from Broader Community: ~30% •  Reuse of talent: 1.14 attendees attending other events •  ATI builds a rich and diverse talent network uniquely fitted for its companies to facilitate funding from four distinct clusters: – the ATI team, Advisor Core, Alumni and broader Austin Community ©IC2 Institute, The University of Texas at Austin 17
  18. 18. Reef Efficacy: Acceleration of Companies to Capital (2010-2014) •  Worked/Trained 70 companies (admitted ~1/15 applicants) •  Find funding for 85% companies in incubator •  Facilitated >$500M investor capital raised (7years) •  Saw >$500M in local company exits (7 years) •  Produced >880M in local economic impact (10 years) •  Created >6,500 jobs/year, direct and indirect (10 years) •  Returned $67 for every public $1 invested in ATI (4 years) •  Worked with 80 student entrepreneurial teams (4 years) ©IC2 Institute, The University of Texas at Austin 18
  19. 19. ATI Funding Map – Class of 2012 •  ATI brings Central Texas innovations to the world and the world’s investors to Central Texas. •  Efficiency Example: 2013 Q1: Out of the $37M in VC and Angel Capital raised among Austin organizations, $35M came to ATI-associated companies. ©IC2 Institute, The University of Texas at Austin 19
  20. 20. Developing an International Reef Strategy Austin, TXCosta Rica Turkey Chile Korea Colombia Mexico Portugal India US Network-based strategy for incubation of companies to accelerate commercial success. ©IC2 Institute, The University of Texas at Austin 20
  21. 21. Facilitating Technology Transfer in Colombia •  Development of Technology Transfer Offices in: –  Medellin, –  Bucaramanga, –  Bogota •  Accelerating SMEs in Medellin to international markets •  Development of Collaborative Technology Transfer Model: Medellin and Bogota •  Launch of Collaborative Technology Transfer Model training: Colciencias •  Developing “Go to Market” and “Dealmaking” training: Innpulsa ©IC2 Institute, The University of Texas at Austin 21
  22. 22. Need for International orientation Shifting from agricultural to industrialized mindset Foster environment for SME creation and growth Sustained revenue for growth for SMEs. What Challenges Do Both Korea and Ecuador Face? ©IC2 Institute, The University of Texas at Austin 22
  23. 23. Having World Class Companies is Not Enough… • Current Challenges: •  70% of the GDP is concentrated in 60 companies •  These make up ~14% of companies in Korea •  These employ only 5% of the population •  The SME/MME’s are squeezed by pricing and profit constraints •  New means for revenue and employment are needed ©IC2 Institute, The University of Texas at Austin 23
  24. 24. Small and Medium Size Enterprise Growth Initiative. Strategy:   •  Recruit  and  Evaluate     •  Simultaneous  training   •  Competition-­‐based   selection   •  Find  Oirst  international   customer(s)  for  selected   companies  outside  of   Korea   •  Facilitate  new  revenue   sources  through   international  advocacy.   Gyeonggi  Innovation   Program     •  2008-­‐2014   •  Partners:  Governor’s   OfOice  and  Gyeonggi  Small   &  Medium  Business   Center   •  IC2  Institute  of  The   University  of  Texas  at   Austin  as  key  partner   •  Program  has  grown  to  2   other  states  and  3   research  centers  in  Korea   ©IC2 Institute, The University of Texas at Austin 24
  25. 25. GDL/sdl SDL/gdl Changing Entrepreneurs’ Perspectives B Value   creation   Actor  2  Actor  1   C   Value   Creation   ©IC2 Institute, The University of Texas at Austin 25
  26. 26. Results From 2008-2013, •  500 innovation/product/companies reviewed •  >110 companies trained, •  66 international business deals accomplished. •  Export revenue cannot be reported due to government request, but estimated at >$80M. The Gyeonggi Innovation Program Outputs ©IC2 Institute, The University of Texas at Austin 26
  27. 27. Partial Deal Map The Gyeonggi Innovation Program Results ©IC2 Institute, The University of Texas at Austin 27
  28. 28. Need for International orientation and market access Shifting from research to innovation mindset Foster environment for SME creation and growth Develop innovation culture and technology transfer strategies What Challenges Do Both Portugal and Ecuador Face? ©IC2 Institute, The University of Texas at Austin 28
  29. 29. 1.  Development of a globally competitive and sustainable commercialization infrastructure 2.  Facilitate networking among researchers, TTO’s, entrepreneurs, commercialization experts, angels/VCs, and academic leaders 3.  Provide hands-on training through real-life commercialization experiences 4.  Offer U.S. market soft-landing and promote business development activities for Portuguese university-based startups   ©IC2 Institute, The University of Texas at Austin 29
  30. 30. 30 Building a Technology Transfer Network All public universities involved, as well as those of leading Science Parks, Incubators, Polytechnic Schools and Research Laboratories 30+ UTEN Network members ©IC2 Institute, The University of Texas at Austin 30
  31. 31. •   50+  specialized  training  and  networking  events  (1500+  par4cipants)   •   30+  internships  in  Texas   •   100+  startups  assessed   •   49%  increase  of  inven4on  disclosures  within  universi4es   •   1,900%  increase  of  provisional  patents  from  universi4es   •   19.6%  increase  of  patents  granted/year   •   26%  increase  of  university  executed  licenses  and  agreements/year   •   137%  increase  license  income  at  universi4es   •   132%  increase  on  new  academic  spinoffs   •   Academic  startups:  127%  annual  growth  rate  in  revenue;  37%  of  startups  export   products;  38%  annual  growth  rate  in  hiring   UTEN overall impact (2007-2010) Source: UTEN annual report 2010/2011
  32. 32. Learnings: Reef-Based Incubation •  Full Ecosystem Required – Technical expertise, business skill, training, service capabilities provided to develop company readiness •  Networks Essential – relationships decrease the distance between companies and capital/revenue accelerating deals •  Open System – participants can come and go within ecosystem •  Expert Generalists – provide added openness and improved connectivity with outside participants •  Stakeholders – participants transition to stakeholder status by mutual agreement •  Business Driven – actual financial outcomes are the measure of success •  Leadership Creates Structure – provides reef environment and incentives for participants to join and find reward ©IC2 Institute, The University of Texas at Austin 32
  33. 33. Thank You!!! Gregory P. Pogue, Ph.D. Deputy Director and Senior Research Scientist IC2 Institute The University of Texas at Austin gpogue@ic2.utexas.edu +1 (512) 560-3717 (cell) +1 (512) 475-8961 (office) Skype ID: pogo5708 www.ic2.utexas.edu J. A. Muñoz Orellana University Granada ©IC2 Institute, The University of Texas at Austin 33

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