Accelerating the Commercialization of Research - Crowell P.P.

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World renowned invited speaker - Mark Crowell's power-point slides as presented at the May 28th event!

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Accelerating the Commercialization of Research - Crowell P.P.

  1. 1. Accelerating the CommercializationAccelerating the Commercializationof Researchof ResearchW. Mark CrowellExecutive Director, UVa InnovationAssociate Vice President for Research© Copyright 2013 by UVa InnovationIdaho Coalition for Innovation
  2. 2. Greetings from Charlottesville / UVaGreetings from Charlottesville / UVaInnovation is in our DNA:Innovation is in our DNA:““Whenever an invention proves to be useful, itWhenever an invention proves to be useful, itought to be tried.”ought to be tried.” (TJ)(TJ)3Shared heritage betweenCharlottesville and Idaho –Lewis & Clark Expedition (TJ)
  3. 3. Setting the StageSetting the StageRole of Universities in enhancing innovation-basedRole of Universities in enhancing innovation-basedeconomic developmenteconomic development4
  4. 4. Funding, market, political and otherFunding, market, political and otherrealities facing universities and TTOsrealities facing universities and TTOs ~85% of US TTO revenue made by 30 institutions; morethan ½ do NOT break even Rate of growth in federal R&D funding is flattening Faculty / talent recruitment and TTOs Industry and venture capital moving “upstream” (andnot returning); technology gap is widening Universities increasingly being asked to help driveeconomy… product developers, economic developers,global health experts, collaboration managers, revenuegenerators, investors, management recruiters…. University supporters – including donors and electedofficials – have innovation at top of their agendas
  5. 5. “Somebody has to do something, and it’sjust incredibly pathetic that it has to beus.” (Garcia)Societal need… or mandateSocietal need… or mandate“Science serving humanity…” (Jefferson)“In America, innovation isn’tjust how we changeour lives; it’s how we make aliving.” (Obama)
  6. 6. The Way We WereThe Way We WerePatent-Centric Technology LicensingPatent-Centric Technology Licensing7
  7. 7. 8UVa Tech Transfer – “Before”UVa Tech Transfer – “Before”Oversimplified illustration of traditional technology transfer model
  8. 8. 9
  9. 9. Tech Transfer 2.0 at UVaTech Transfer 2.0 at UVaInnovating the Way We Do BusinessInnovating the Way We Do Business10
  10. 10. The catalyst for change: Coulter TranslationalThe catalyst for change: Coulter TranslationalPartnershipPartnership BME faculty/clinician pairing required Very active oversight board $1M/year for 5 years; about $100K/project per year U.Va. 1 of 9 universities in 5-year experiment; 1 of 6 to receive$10M endowment (required 1:1 match) Results: > 30 projects funded; 5 startups; 11 licenses; > $12 million inventure capital and private investments; > $20 million in federal,state or foundation grants About half of disclosures licensed within 2 years Externally audited 7:1 ROI for whole portfolio Top 10% of projects > 40:1 ROI
  11. 11. National Coulter Program Outcomes - @ 5National Coulter Program Outcomes - @ 5yearsyears Number ofprojectsUS$ (in millions)Funded projects 200 40Projects at animalefficacy or first in human100+VC Funding 28 152.9Industry Licenses 24Start-ups in Formation 17 5+Governmental ProjectSpecific Funding150+Total CommercialRelevance Events69 308+Follow-on Investment = $308M / $40M > 7x12
  12. 12. U.Va.’s translational / proof-of-concept programsU.Va.’s translational / proof-of-concept programs ~$5M/year into translational work Sourced from a variety of partners (Corporate, Foundation,Individual Donors) Coulter Foundation Translational Partnership LaunchPad Fund in Diabetes Biomedical Innovation Cardiovascular/AstraZeneca Collaboration Ivy Foundation/Johnson & Johnson – COSAT i6 / Department of Commerce / Virginia Innovation Partnership Partnering with venture philanthropy organizations Enhanced disclosure, patent, and deal flow Established administrative frame-work/best-practices Plug-and-play in disease settings Robust faculty engagement in culture of translational researchand innovation
  13. 13. A new innovation agenda at UVaA new innovation agenda at UVa New position – Chief Innovation Officer (UVa Innovation) –signals commitment of UVa to accelerate translation ofinnovation for economic and social benefit Dissatisfaction with prior focus on patenting; protecting;driving revenue; misalignment w/ research agenda Serve as UVa’s “front door” for innovation, commercial &investment partners, and for economic development Promote culture change within the institution –innovation / commercialization valued more highly, taughtmore widely, practiced more robustly Grow UVa’s innovation ecosystem (entrepreneurship,accelerator, seed funding, mentors, awards, etc.) –internally and externally Raise the institution’s “partnering IQ”
  14. 14.  Renewed emphasis on proof-of-concept, market-facingresearch Moving from culture of invention to culture ofinnovation (from technology push to market pull) Addressing risk, adding value, creating impact –translating good ideas into enterprise Connecting and partnering across silos, disciplines,campuses, regions, and the world (authenticpartnering) Announcing that we’re “open for business” Leveraging intellectual assets university-wide tocreate/deliver value – and to solve real problems University backed the budget!!!15Adopting a Culture of InnovationAdopting a Culture of Innovation
  15. 15.  Rebranded UVa Patent Foundation to UVaLicensing and Ventures Group (LVG) Revise business and revenue sharing models Shift focus from patents to deals/partnerships– from technology push to market pull Connect UVa Innovation across Va., US, world Establish UVa Innovation brand – tie togethertech transfer, entrepreneurship, innovation,corporate partnering across Grounds1611stst18 months – Build the platform:18 months – Build the platform:
  16. 16. Executive Director,UVa InnovationEntrepreneurialNetworks GroupLicensing andVentures GroupStrategicPartnershipsGroupCommunicationsGroupUVa-wideInnovationInitiativesTranslationalResearchInitiativesUVa VentureSummitVice President forResearchAccelerator andSeed FundInitiativesUVa E*Cup andBusiness PlanCompetitionsInnovationEducationUVa InnovationPlatform / “O” Chart
  17. 17.  Formerly the U.Va. Patent Foundation Name change reflects shifting emphasis from IP tocommercialization pathways Goals Dissemination of U.Va. knowledge/assets Value-added business development activity High levels of customer service Quality transactionsU.Va. Licensing & Ventures GroupU.Va. Licensing & Ventures Group18
  18. 18. Creating, facilitating and empoweringentrepreneurial networks among the University’sfaculty, staff, students, alumni and the communityVenture Forward mentoring network, eventsEconomic developmentCommunity involvementStudent entrepreneurship and competitionsEntrepreneurial NetworksEntrepreneurial Networks19
  19. 19. Facilitating internal and external partnerships andcollaborations with industry, foundations, federalagencies, philanthropists and investorsProof-of-concept / translational research funding VIP, Coulter, Ivy, Swortzel, LaunchpadPublic–private partnerships AstraZeneca, ATCC, Rolls-Royce, Cancer CenterTechnology Partnership InitiativeStrategic PartnershipsStrategic Partnerships20
  20. 20. Elevating the profile of University innovators,ventures, partners and initiatives through strategicpublic and media relationsCorporate communicationsBrandingWebsite, blog, social mediaPress releases, media relations, spokespersonEvent marketing and collateralMarketing & CommunicationsMarketing & Communications21
  21. 21. 22UVa Innovation: Bringing Together NewUVa Innovation: Bringing Together Newand Existing Initiatives (& strategies)and Existing Initiatives (& strategies)…Others brewing!SocialmediaVenture mentorsEntrepreneur-in-ResidenceBusiness ConceptCompetitionsCrowdfundingVenturePhilanthropy
  22. 22. Other new pan-university innovationOther new pan-university innovationinitiativesinitiatives23 Multiple business conceptcompetitions Supporting, co-brandinginnovation initiativeacross Grounds and Cville Expanded presence attrade shows and scientificmeetings Recruit major innovationevents to Virginia UVa Venture Summit Virginia InnovationPartnership – i6 Award UVa startup companysurvey Aggressive engagement –UVa Innovation on radarregionally, nationally,internationally CROWDFUNDING!!!(www.virginia.edu/useed)
  23. 23. A personal look back…. to RTPA personal look back…. to RTPWhat does impact look like?What does impact look like?24
  24. 24. Impact of university innovation:Impact of university innovation:RTP pre- and post-technology transferRTP pre- and post-technology transfer 1989 (1st30 years) – Real estate focus. 60 firms; 30,000employees; most firms mid to large sized (era of little tomodest university tech transfer) 2002 (next 13 years) – 150+ R&D firms; 45,000+employees; 52% of firms have less than 10 employees;86% have less than 250 employees (era of majoruniversity tech transfer) 1500+ start-ups since 1980; 34% of current companiesare start-ups
  25. 25. 1959 - RTP launched; what does1959 - RTP launched; what doesgrowth look like at 50 years old?growth look like at 50 years old?
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  32. 32. 33U.Va. Innovation Mobile SiteU.Va. Innovation Mobile Site
  33. 33. Simplified, Increased TransparencySimplified, Increased Transparency Learning Center Educational primers Templates Streamlineddisclosure forms In progress34http://innovation.virginia.edu/learning-center
  34. 34. Demonstrating ImpactDemonstrating Impact Product pipeline Research reagentdirectory35http://innovation.virginia.edu/impact/products
  35. 35. U.Va. Innovation VenturesU.Va. Innovation Ventures Launched interactivemap and directory Venture surveycurrently in progress,gathering: Vitals Economic developmentmetrics Testimonials:36http://innovation.virginia.edu/impact/ventures
  36. 36. Accelerating the CommercializationAccelerating the Commercializationof Researchof ResearchW. Mark CrowellExecutive Director, UVa InnovationAssociate Vice President for Reserach© Copyright 2013 by UVa InnovationIdaho Coalition for Innovation
  37. 37. SponsorsSilver Bronze

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