FINAL PLENARY SPACE RACE SHORT apr 23 2016 (3)

Hyper-Accelerating Commercialization and
Economic Growth by
Catalyzing the Start-up Ecosystem
Prepared for LES- Confidential & Proprietary the Center for Advancing Innovation and Gazelle Futures - Do Not Distribute without Permission
POWERING GROWTH:

Team Capability:
• 20 years + experience in commercializing inventions;
evaluated75K+ inventions
• Advisors: Serial Entrepreneurs, Industry, Foundations
• Core Team: ~20 people. 90% PhDs, MBAs
• 120+ high profile, strategy engagements:$21B profit
Unique Challenge-Accelerator given IP & Talent Access:
• Derisked IP: 21 agreements across NASA, NIH, NCI,
CDC, etc
• Talent: 85+ Serial Entrepreneurs, Industry, etc.
Evolution:
• Derisked IP: More Federal Labs
• Disrupting the Venture architecture norms
CAI’s Approach
Commercialization Strategy
Startups & Industry
Due Diligence – Selecting Investments
& Technologies
Select the Best Federally Funded Inventions
Maximize Commercial Potential
Operators & Management Talent
Center
for
Advancing

Innovation—Overview

New Model for Venture Philanthropy
with outsized returns
Spun out 33 Companies from NIH;
1200+ Jobs Created; 19
Agreements with NIH and NASA
Prestigious Awards & Recognition HHS,
NASA, White House, Wired, Nature,
Huffington Post, CBS etc.
Challenge
Accelerators
Since
2012

-‐
500

1,000

1,500

2,000

2,500

3,000

3,500
2009
2011
2013
2015
2017
2019
2021
2023
2025
2027
2029
2031
RE
($Billions,
PPP1)
CAGR
Forecast
of
GERDII
Expenditure

(based
on
UNESCO
1996-‐2009)
Brazil
Canada
China
India
Japan
Russia
S.
Korea
Singapore
US
EU
4
In
addition,
R&D
forecasts
show
China
will
surpass
the
US
by
2019
2019
Sources:
CAI
Analysis
Model,
UNESCO
Institute
for
Statistics
1PPP:
purchasing
power
parity
(PPP)
asks
how
much
money
would
be
needed
to
purchase
the
same
goods
and
services
in
two

different
countries

II
Gross
Expenditure
on
R&D
2009
RE
Top
5:
1. US
2. EU
3. Japan
4. China
5. S.
Korea
2031
RE
Top
5:
1. China
2. US
3. EU
4. Japan
5. S.
Korea
China
US
EU
Global
Expenditure
on
R&D
(GERD)

Global
forecasts
predict
similar
trends:
lost
leadership
position
in
2014
Sources:
CAI
Analysis
Model,
WIPO
CAGR
Forecast
Patents
Issued
(based
on
1996-‐2009)
CAGR
Forecast
Patent
Applications
(based
on
1996-‐2009)
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
2009 2016 2021 2026 2031
Patent
Applications
EU India Japan S.
Korea US
0
100000
200000
300000
400000
500000
600000
700000
800000
900000
1000000
2009 2016 2021 2026 2031
Patent
Grants
EU India Japan S.
Korea US
US
US
0
10
20
30
2009 2031
Millions
Patent

Apps
0
10
20
30
2009 2031
Millions
Patent

Grants
China
(surpassed

the
US
in
2014)
China
(surpassed

the
US
in
2014)
Global
PATENTS

Globally,
return
on
innovation
is
declining;
the
US
is
not
declining
as
fast!

Sources:
CAI
Analysis
Model,
UNESCO

Institute
for
Statistics,
World
Bank
GDP

Estimates
0
10
20
30
40
50
60
70
80
90
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
GDP
/
RE
CAGR
Real
GDP
(Applied
to
Nominal)
Forecast
/

CAGR
GERD
Forecast

(based
on
1996-‐2009
World
Bank,
UNESCO)
Brazil
Canada
China
India
Japan
Russia
S.
Korea
Singapore
US
EU
US China
Country
CAGR

‘02-‐’09
CAGR

‘04-‐’09
India 2.6% 6.5%
Russia 2.6% 9.4%
Canada 2.1% 6.2%
US 1.3% 0.04%
EU 1.0% 0.93%
Brazil -‐0.9% 11.3%
Japan -‐2.1% -‐1.5%
S.
Korea -‐2.8% -‐4.0%
China -‐2.9% 6.9%
Singapore -‐4.3% 2.6%
CAI
Proprietary
and

Confidential.
Do
not
distribute
outside
of
CAI

without
written
permission
GERD
CAGR
Global
RETURN
on
Innovation

$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
2009
2012
2015
2018
2021
2024
2027
2030
GDP
(Billions) CAGR
Real
GDP
Forecast
Applied
to

Nominal
GDP
(based
on
1996-‐2009
World
Bank)
Singapore
United
States
Japan
South
Korea
Canada
Russia
Brazil
India
EU
China
GDP
Growth
Rate
US
=
2.32% China
=
9.25%
2024
Sources:
CAI
Analysis
Model,

UNESCO
Institute
for
Statistics,

World
Bank
GDP
Estimates
Innovation
Arms
Race

Licensed
Move to translational research
More funding in lab; science continues
No funding in lab to continue
Withdrawn/terminated license
Terminated by inventor
Federally

Funded

Research
Invention

Disclosed
and

Potentially

Patented
Product
Translational
Research,
<0.1%
Inability
to
Find

and
Fund

Promising

Inventions
Problem:
Identifying
the
Best
Inventions
and
Furthering
R&D

915
122
2619
132
458
804
1150
31%
27%
55%
12%
96%
42%
79%
0%
20%
40%
60%
80%
100%
120%
0
500
1000
1500
2000
2500
3000
Federal2Labs Top2Hospitals Top2Med2Schools Top2Universities Bottom2 Hospitals Bottom2 Med2
Schools
Bottom2
Universities
%"of"Disclosures"Removed"from"Shelf
Additional"Disclosures"Removed"from"Shelf
Yearly"Additional"Disclosures"Removed"from"Shelf"by"Segment"–
Best=in=Class"Performance
(%"Removed"from"Shelf)
Segment Federal2Labs Top2Hospitals Top2Med2Schools Top2Universities Bottom2 Hospitals
Bottom2 Med2
Schools
Bottom2
Universities
#2of2
Institutions
8 5 35 3 16 41 45
114/Federal2
Lab
12K742
Additional2
Inventions
7K252
Additional2
Inventions
150,000
inventions
from
the
top
145
institutions

Potential
Current
State
Key$Insight
US.universities.can.still.improve.by.
at.least.25%,.while.federal.labs.
have.>80%.potential.growth.in.
every.stage.of.commercialization
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Licenses.&.Options.+.
Startups
Invention.Disclosures.
Patents.Issued.
Patent.Applications.
License.Income.
Current$Universities$Potential
vs.$Average
(AUTM$2002<2009)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Licenses.&.
Options.+.…
Invention.
Disclosures.
Patents.Issued.
Patent.
Applications.
License.Income.
Current$Federal$Labs$Potential
vs.$Average
(NSF/NIST$2002<2009)
Sources:.The.Center.for.Advancing.Innovation.Analysis.Model,.
NIST,.NSF,.AUTM.Survey.2002V2009
Average
State
Average
Performance
Opportunity

Potential
Current
State
Key$Insight
US.universities.and.federal.labs.
have.>500%.potential.growth.in.at.
every.stage.of.commercialization
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Startups
Patents.Issued.
License.Income.
Current$Universities$vs.$BIC$
Potential (AUTM$2002=2009)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Startups
Patents.Issued.
License.Income.
Current$Federal$Labs$vs.$BIC
(NSF/NIST$2002=2009)
Sources:.CAI.Analysis.Model,.NIST,.NSF,.AUTM.Survey.2002U
2009
Best-‐‑in-‐‑Class
Performance
Opportunity

Dimension Current
State
(2009) Opportunity %
Difference
GDP $49,068,748,297 $864,230,818,581 1661%
#
Licenses 3922 43885 1019%
Current
Universities
Potential
Dimension Current
State
Difference
GDP $4,056,551,354 $623,614,223,359 15273%
#
Licenses 1462 31667 2066%
Current
Federal
Laboratories
Potential
Dimension Current
State
Difference
GDP $53,125,299,651 $1,487,845,041,940 2701%
#Licenses 5384 75551 1303%
Cumulative
Potential
3-‐6%
Inventions

x

80-‐90%
failure
rate
$500
billion
to
$1.5
trillion
The
$1.5
Trillion
Opportunity

What is it? A business plan and start-up
challenge featuring inventions conceived
and developed by scientists at NASA
Challenge Goal: Drive economic growth and create/ amplify
entrepreneurial platforms by commercializing NASA inventions
Challenge End Point: New startups launched with seed funding
Space
Race
Overview

Step 1:
Create PIA
Agreement
Step 2:
Received Invention
Database Info
Inventions

~50,000
Step 3:
Perform Due Diligence
on Portfolio
…
Market
Attractiveness
Tech
Quality
Operational
Feasibility
Other Categories
§ Patent life
§ Capitalefficiency
§ Progress vs. promise
Step 4:
Recommend
Disposition
Commercialize
Reward
Kill
Restructure
Step 5:
Determine
Commercialization
Path
Startup
License
Large Co
License
CRADA
Other
Business
Model
Phase I: Due Diligence
Phase 2: Startup Challenge
Select Inventions Crowdsource Teams
Evaluate Elevator
Speeches
Evaluate Business
Plans
Launch Startups
The
Model

Phase

0:

Enter

Challe
nge
Jan.

19th
2015–
May

1st

2016
• Teams

submit

propose
d
team

and

accept

CDA.

Rolling

entry

into

challeng
e
• Jan.

19th:

Open

challeng
e
for

entries,

rolling

acceptan
1:

Elevat
or

Speec
h
May

2nd
2016
–
Jun.

15th
2016
• Teams

develop

a
2

minute

elevator

speech

video

and
also

a
350

word

executiv
e

summar
y
• Jun.
5th:

Due
date

for

elevator

speech

and

executiv
e

Phase

2:

Busine
ss
Plan
Jun.

16th
2016
–
Sep.

9th
2016
• Teams

develop

a
10

page

business

plan

accompa
nied
by
a

10-‐20

minute

live
pitch
• Aug.

21st:
Due

date
for

business

plans
• Aug.

22nd –
Aug.

26th:

Phase

3:

Start-‐
up
Sept.

9th
2016
–
TBD
• Teams

launch

their

startup;

raise

capital

and

apply
for

a
license
• Bi-‐
weekly

mileston
es
for

teams
–
schedule

to
be

outlined
• TBD:

Announc
Space
Race
Challenge
Timeline

Select SPACE RACE
Challenge Topic and
Engage Stakeholders
Planning
Startup teams paired with
world-class, seasoned exec
level industry experts
Mentorship
Invention
Selection
Tailored
Training
Curriculum
Business Plan
and Live Pitch
Multi-
Disciplinary
Teams Enter
2 minute video with
executive summary
Elevator Speech
Winners and
Finalists
Selected
Identify 5-10 commercially
viableinventions
Form Team and
Select Invention
Letter of Intent - robust teams
enter with world class mentors
Elevator speech - 5 teams per
invention evaluated& down-
selected
Business Plan - Teams pitch to
world class panel of judges
Winning teams become founders
of startup, negotiate license &
raise seed funding
12 Month Intensive & Disciplined Accelerator Training
500-1000 people
combine to form multi-
disciplinaryteams
Partnership
And Licensing
Agreements
LAUNCH
STARTUPS
Space
Race
Overview
and
Accelerator
Training

NASA
Inventions
TeamsFormedwith
inventions
Start-ups
Formed
Potential
Exits
Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1
Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2
Team 3 Team 3 Team 3
Team 4 Team 10 Team 12 Team 4 Team 10 Team 8 Team 15 Team 10 Team 9
Invention#1 Invention#2 Invention#3 Invention#4 Invention#5 Invention#6 Invention#7 Invention#8 Invention#9 Invention#10
Startup
#1
Startup
#2
Startup
#3
Startup
#4.A
Startup
#5
Startup
#6
Startup
#7
Startup
#8.A
Startup
#9
Startup
#10
Startup #
4.B
Startup
#8.B
Year 1 Startups Year 2 Startups
Exit
#4.B
Exit
#7
Confidential & Proprietary – Center for
Advancing Innovation and Gazelle Futures LLC
- Do Not Distribute
Space
Race—Crowdsourcing
Top
Global
Talent

Overview:
Self-monitoring
electronics that can
detect and diagnose
wirefaults, determine
fault location,
A Device For Wire Fault
Detection and Rerouting
Electrical and Electronics
and autonomously transfer electrical power or
data connectivity to an alternate wire path
Inventions –
Electrical and Aeronautics
Overview: A
ceramic composite
(CMC) acoustic liner
for aircraft engines that
offers increased noise
reduction with a lighter,
more compact, and
heat resistant design
Light Weight Acoustic
Liner to Reduce Noise in
Aircraft Engines
Aeronautics

Overview: A Lightweight
UAV sensing and control
system able to be fitted for
drones and nano-drones
reaching one pound or less
and/or <6-inch wingspans,
Light Weight UAV
Sensing and Control
System
allowing for long flight segments due to its power-
saving capabilities
Inventions –
Robotics
Overview:
Rugged,
lightweight,
small
autonomous
robot excavator
RASSOR Robotic
Excavator
used in inaccessible sites such as
high-risk mining, search and rescue
as well as disaster response
applications

Inventions –
Optics
Overview:A 3D
imaging laser system
that uses a simple lens
system to
simultaneously
generate a
High-resolution, real-time
three-dimensional
imaging
one-dimensional or two-dimensional array of
optical (light) spots to illuminate an object,
surface or image to generate a topographic
profile.
Overview:
Cost effective method for
high precision polishing to
shape optical surfaces by
employing an
Electrochemically
Enhanced Mechanical
Polishing (EEMP)
electrochemical and mechanical shaping /
polishing method

Inventions –
Energy
Overview:
AirborneWind Energy
(AWE) vehicles use
the wind to generate
power at higher
altitudes;
Kite-like Wind Power
Generation Control
System
this invention maximizes and optimizes AWE
power generation
Overview: A solid
oxide fuel cell capable of
power densities 5X of a
normal power cell due to
a unique fabrication
High-Power Density
Solid Oxide Fuel Cell
and Fabrication Process
process utilizing a freeze-tape casting method

Inventions –
Materials and Coatings
Overview:
Novel use of laser
surface pattering and
chemical film coatings
to create surfaces
resistant
Surface Particle
Contamination Mitigation
Methods
to water, dust, organic growth, and other
surface contaminants
Overview:
Liquid and micro-particle
powder coating applied
on the surface of
reinforced concrete for
Liquid Coating for
Corrosion Prevention in
Rebar
corrosion prevention and structural integrity
in steel rebars

Unique
Inventions,
Incredible
Deal
Flow

Example NASA Robotics Invention
Overview:
Rugged,
lightweight, small,
autonomous robot
excavator used in
sites such as
RASSOR Robotic Excavator
high-risk or inaccessible mining, search and
rescue, as well as disaster response
applications
Only invention to exploit $25 quadrillion
extraplanetary mining industry; $200B to
$1T of value in just one asteroid
TRL 9, space-flight tested, $35.8M taxpayer
dollars invested in R&D
11 more late-stage inventions:
• Focused on space technologies, precision
medicine, clean energy, and others
• Selected from NASA portfolio of 24K+
inventions: 100+ commercially viablespace
inventions; 300+ precision medicine
Expanding portfolio: patents and inventions from
DoD, DoE, DARPA, Navy and other government-
funded agencies
Low deal flow: currently only ~90 VC-backed space
companies from 2000-2015
Opportunity: develop world-changing technologies,
create new industries and ecosystems, drive
outsized growth and returns

Startup Challenge Evolution to Fund

Early investors end up <20%
minority interest, often without
enough power to kill the
“walkingdead” & redeploy
Investors attempt to short
list the best out of the
noise through quality of
team, traction and solid
plan
Investors often deal with
unsophisticated founders
who don’t understand
governance or valuation
Early Stage investors often
receive 100’s if not 1000’s
of pitch decks, emails or via
fast pitch events for dealfow
Invest
(1-5)
Term Sheet
(5-10)
Diligence
(10-25)
Pitch
(100’s)
Diligence
(1000’s)
Invest
(2-5)
Source
BPs &
Teams/Tech
(5-10)
Solving
Early
Stage
Investing
Problems

Quality Strategic Deal Flow
Struggles to find worthy opportunities
matched to strategic needs
Capital Efficiency
Most IP is capital & time intensive. Cost
reduction levers are key, e.g., startup nimbleness
and regional advantages
Skilled Startup Teams
Seasoned entrepreneurs seeded in teams
prevent rooky mistakes
Accelerated Results
Teams require funding and go around the
US to raise it for 6-12months
Commercialization Risks
Inventions require de-risking –
lead to high failure rates
Favorable Terms
Licensing agreements often have onerous
deal terms and are quick to negotiate
R&D$
Productivity
Size$of$R&D$Organization
Large&
Pharma&Co’s
Optimal&
Size
89%
92%
65%
21%
52%
34% VALUE&OPPORTUNITY&ANALYSIS
YOUR&PRODUCT
adventure
independance
security
sensuality
confidence
power
comfort
safety
ease3of3use
visual
auditory
tactile
olfactory
taste
point3in3time
sense3of3place
personality
social
environmental
reliable
enabling
craftmanship
durability
LOW MED HIGH
Emotion
Ergonomics
Aesthetics
Identity
Impact
Core4Tech.
Quality
Profit4Impact
Brand4Impact
Extendable
COMPETITION&(OR&NEXT&PRODUCT)
adventure
independance
security
sensualtiy
confidence
power
comfort
safety
ease3of3use
visual
auditory
tactile
olfactory
taste
point3in3time
sense3of3place
personality
social
environmental
reliable
enabling
craftmanship
durability
LOW MED HIGH
Emotion
Ergonomics
Aesthetics
Identity
Impact
Core4Tech.
Quality
Profit4Impact
Brand4Impact
Extendable
Gazelle
Solves
Pipeline
Challenges

An early stage venture capital fund that
leverages exclusive, low-cost access to a large
portfolio of risk mitigated inventions combined
with a proven and award winning “Startup
Challenge Accelerator” to rapidly launch new
capital efficient companies and grow jobs.
Gazelle Futures Mission

Financial Impact
$90MEndowment
20Companies
56%+Fund IRR
Investing + “venture philanthropy” of
LP’s 50% split carrycreates a sustainable
source of future funding
Proven, award winning accelerator
matches inventions to region’s strengths
& significantly increases new startups
Securing the majority of equity at the
early stage captures all value creation,
resulting in strong for all investors
Even with highly conservative assumption
of 90% failure failure rate, startups jobs
generate a large commerce impactin area
$600M
Social Impact
$180MInvestor Returns
Limited Partners that invest capital
are positioned to realize strong exit
return multiples over the 10 yr life
GDP Impact
82%Employment
Challenge graduates have attractive
entrepreneurial skills that lead to high
job placement success in market
2500Trained
Over 500+ people per year x 5 years
receive advanced STEM training during
the 12 month accelerator process
18KTotal Jobs
Growing Life Science oriented startups
creates a large multiplier effect, leading to
job growth throughout the local ecosystem
Measurable
Impact
with
$20MM
Fund
Target
Case

Gazelle Futures Fund Overview
9 yr | 4 yr Investing
Fund Horizon
Match to Region
Strengths
Market Focus
Seed to Series A
Stage Focus
$20MM Segments
($100MM Total)
Total Fund
Under-valued Regions
Geographic Focus
Performance Based
GP Carry Interest
5x + Exit Targets
Outsize Returns
$200K - $1.2MM
Investment Size
10-20 Seed | Series A
Investments
Substantial 100%
Equity Positions
Gazelle Futures| 9508 Burning Tree Road; Bethesda, MD 20817 USA
rht@gazellefutures.com | (202) 438-2208 | www.gazellefutures.com
Fund Mission
De-risked, Capital Efficient
§ Builds on successful startup model
§ Breast Cancer Startup Challenge, Neuro
Startup Challenge
§ Kaufmann Foundation proprietary
research
§ STEM and entrepreneurship education
Differentiation
Unique Deal/Team Access
§ Unprecedented no/low-cost
licensing access
§ De-risked portfolio of 24,000 NIH
& NASA inventions
§ Crowd source global talent
Investment Strategy
“Lead Seed”-Founder Friendly
§ Up to $1MM+ seed investments
§ Founder friendly support from
industry experts
§ lowest cost/% ownership and
maintaining substantial positions
through future dilutive rounds
Social Impact Financials
100% Performance Based
§ Performance based IRR goals
§ Creation of regional endowment
§ 2.5% mgmt fee for Challenge
Accelerator.
Confidential & Proprietary | DO NOT DISTRIBUTE
Experienced Investment Team
Rosemarie H. Truman
Managing Partner
- CEO, Center for Advancing Innovation
- Launched 33 Award Winning NIH Startups
- 22 Yrs & $210B+ F500 Growth Strategy
- IBM, Goldman, JP Morgan, E&Y,Oracle
Nick Donafrio
Board Chairman
- IBM VP of Global Innovation and
Technology for 35 years (IBM Watson)
- Industry and thought leader
- MITRE, Liberty Mutual, Wigix, others

BENEFITS
Disruptive
Investors
§ Outsized
returns
and
IRRs
§ Diverse
invention

portfolio:
energy,

personalized
medicine,

adv.
manufacturing
§ Performance
driven
fund
§ Proven,
efficient,
data

driven,
award-‐winning,

investment
model
§ Impact
investing
with

multiplier
effect

§ Network
expansion
–
AUTM,
BIO,
White
House,

etc.
Government
and
Tech
Transfer:
§ Multiplier
effect
in

impacting
public
health,

energy,
medicine,
other

sectors
§ Supports
the
Presidential

Memorandum
and

Startup
America
§ New
paradigm
of

commercializing

inventions
§ Expanded
private

funding
for
R&D
§ New
platform
to
train

the
next
generation
of

scientists
§ Support
STEM
education
Powering
Growth:
§ Train
1000s new
STEM
entrepreneurs
§ Create
100s
startups
§ Create
millions
of
new
jobs
§ Support
regional
sustainability
§ Contribute
to
GDP
through
new
products
CAI
and
Gazelle
Futures:
§ Drive
and
accelerate
high
growth
business
§ Increase
the
volume
of
commercialization
§ Accelerate
ground
breaking
innovations
Key
Takeaways
for
Stakeholders

Rosemarie Truman: (202) 438-2208
twitter.com/centerinnovate
www.thecenterforadvancinginnovation.org
https://www.linkedin.com/company/the-center-for-advancing-innovation-inc-
?trk=biz-companies-cym
Contact
9508 Burning Tree Road, Bethesda, MD 20817
The Center for
Advancing Innovation, INC
Gazelle Futures, INC
Rosemarie H. Truman | Founder and CEO
Sourav Sinha | Entrepreneur in Residence
rt@thecenterforadvancinginnovation.org

Key Takeaways
§ YOU can do this too! We’ve built a nice platform AND have lessons learned
§ Join the SPACE RACE; build a team; be a judge; advise the challenge; mentor a team
§ GAZELLE is seeking strategic partnerships & advisors; please connect with us if interested
THANK YOU
ROSEMARIE TRUMAN, FOUNDER AND CEO
SOURAV SINHA, ENTREPRENEUR IN RESIDENCE
THE CENTER FOR ADVANCING INNOVATION
RT@THECENTERFORADVANCINGINNOVATION.ORG
TEXT: 202 438 2208

Healthy Cell Cancer Cell
No Effect Azonafide
Kills Cell

§ Winner of Breast Cancer Startup Challenge by the National Cancer
Institute (NCI)
§ Awarded grants from Avon Foundation for Women, NASA/Center
for the Advancement of Science in Space (CASIS), and the Horizon
2020 Program (UK)
§ Winner of MassChallenge & MassBio 2014 Startup Accelerators
§ Winner of the Rice Business Plan Competition
§ Raised seed financing, currently raising a bridge round
§ Partnered with 14 pharma partners all over the world
§ Partnered with 6 academic labs all over the world
§ Offices in Boston and London
§ Closed Startup Exclusive Option License Agreement with the NCI
§ Showcases: TEDMED, World ADC Summit, Engage Forum Tokyo,
Protein & Antibody Engineering Summit (Shanghai & Boston ’15)
Team Progress

Startup Challenge Evolution to Fund
CAI$performs
due$diligence
on$exclusive$access$
invention$portfolio
CAI$runs$
challenge/accelerator,$
crowd;sourcing$startup$
teams.$Teams$apply$
for$SBIR$funds
CAI$selects$winning$
business$plans$and$
teamsC$CAI$facilitates$
licensing$agreement
Gazelle$exclusive$$
deal$with$CAI$to$
perform$due$
diligence
Gazelle$creates$
company$vehicle$for$
inventions$– and$
owns$100%
Gazelle$funds$
startup$leadership$
and$provides$first$
tranche$fundingC$
owns$55%$equity
Space&Race
Gazelle$performs$
ongoing$governance$
and$has$strict$go/no;
go$milestones
Gazelle$puts$in$
Series$A$fundingC$
funding$is$matched.$
Valuations$double
Liquidity$Event$
Gazelle$pays$out$
to$LPs

Who Can Join the SPACE RACE?
Recruiting Multi-Disciplinary Teams
Team Design:
Mandatory Requirements
Challenge
TEAM
Business
Legal
Invention Specific

Technical

Seasoned

Entrepreneur
Typical Participation
Students:
• Graduate and undergraduate students
• Post-docs as well as those in residency
Others - match skill sets of mentors to invention and team:
• Business Development Leaders from Large Companies
• Key Opinion Leaders
• FDA/Regulatory
• Venture Capitalists
• Clinical Research Outsourcer (CRO)
• Over
18
years
old*
• At
least
three
students
on
the
team
*and youngerwith parent’spermission as long as the rest of the team meets requirements
Confidential & Proprietary to The Center for Advancing Innovation. Do Not Distribute

FINAL PLENARY SPACE RACE SHORT apr 23 2016 (3)

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