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Entrepreneurs-in-Residence:Best Practices for EconomicDevelopment  University Economic Development  Association Annual Sum...
Defining the EIR   Entrepreneur-in-Residence   Executive-in-Residence   Mentors, Alumni, Community Partners
Role of the EIR   To launch a new venture, typically    with the backing of a venture capital    firm or other organizati...
Who uses EIR’s   Venture capital firms   Economic development organizations   Universities   Law firms   Incubators ...
Typical EIR Services   Strategic planning   Business plan writing   Investor presentations, fundraising   Go to market...
VIEW FROM THE MIDDLE
DAN TRIPODI FOUNDING PARTNER – SAGE GROUP   SAGE GROUP – HEALTH CARE CONSULTING   STRATEGIC, M&A, LICENSING, VALUATIONS...
PRIOR EXPERIENCE J&J B-D NEN FACULTIES   U OF PENN (ADJUNCT PROFESSOR)   TEMPLE UNIVERSITY (ADJUNCT PROFESSOR)   UN...
VIEW FROM THE MIDDLE
PRE-GAME TALK VIEW FROM THE MIDDLE   UNIQUE PERSPECTIVE   IN THE MIDST OF THE ACTION   CONTROLLING GAME AND EMOTIONS  ...
SEED GRANT INVOLVEMENT STONY BROOK “CLONING” EVOLUTION OF TIER FUNDING APPROX 30 YEARS INDUSTRY EXPERIENCE OF START-U...
LESSONS LEARNED PATIENCE EDUCATING FACULTY OMBUDSMAN EARLY GUIDANCE MONITORING FOCUS OF TCO$
LEARNED LESSONS                 (CONTINUED) EXTERNAL ACCEPTANCE (ADMINISTRATIVE    CREDIBILITY)   EVOLUTIONS OF TIER FUN...
FOCUS OF SEED GRANT TECHNOLOGY MARKET POTENTIAL
PROCESS MEET WITH CHAIRMAN AND FACULTY REVIEW POTENTIAL CANDIDATE PROGRAMS SUBMISSION OF PROPOSALS PANEL REVIEW OF PRO...
BEYOND SEED GRANT            TIER FUNDING OPTIONS CONCEPT – $7-10   TEST THEORY OR CONCEPT SEED GRANT - $30 – 40   PRO...
BEYOND SEED GRANT          TIER FUNDING OPTIONS NEXT STAGE DEVELOPMENT - $50 (LOAN)   FORMED COMPANIES ONLY   OUTSIDE F...
BEYOND SEED GRANT            TIER FUNDING OPTIONS EXCELLENCE GRANT - $100-250   HIGH POTENTIAL   LOWER RISK   LATE DEV...
TRENDS POWER OF THE INTERNET POSITIONING OF THE TECHNOLOGY – KEY OUTSOURCING   COST CONSTRAINTS   SPECIALISTS – GREAT...
GapUniversity          Corporations Technology
GapUNIVERSITY         CORPORATIONS Tech
FUTURE OUTLOOK EXPLOSION OF NASCENT, NOVEL TECHNOLOGY RESISTANCE OF CO’S TO LICENSE OR ACQUIRE GAP WIDENS SHRINKING OF...
SUMMARY EXTERNAL HELP NEED TO BE “IN THE MIDDLE” TO BE  EFFECTIVE   – NOT INDUSTRY, NOT UNIVERSITY  “NEITHER/NOR” TRUST...
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UEDA Summit 2012: Entrepreneurs-in-Residence: Best Practices for Economic Development (Marmer & Tripodi)

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Universities increasingly employ entrepreneurs in residence (EIR) to provide guidance and support to faculty and their start-up companies. These EIR’s are often alumni and community members looking to give back to the university or are supported by a regional economic development entity. As universities increasingly focus on start-ups, EIRs will continue to play an important role in fostering economic development. This session will also discuss what EIR programs exist outside university tech transfer offices and how the use of a collaborative approach and potential public-private partnerships, universities can access this skill set as well as generate new opportunities to support start-up activity.

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UEDA Summit 2012: Entrepreneurs-in-Residence: Best Practices for Economic Development (Marmer & Tripodi)

  1. 1. Entrepreneurs-in-Residence:Best Practices for EconomicDevelopment University Economic Development Association Annual Summit 2012
  2. 2. Defining the EIR Entrepreneur-in-Residence Executive-in-Residence Mentors, Alumni, Community Partners
  3. 3. Role of the EIR To launch a new venture, typically with the backing of a venture capital firm or other organization To assist in the evaluation of a potential start-up company To provide expertise to an organization in launching a new or early stage venture
  4. 4. Who uses EIR’s Venture capital firms Economic development organizations Universities Law firms Incubators Others
  5. 5. Typical EIR Services Strategic planning Business plan writing Investor presentations, fundraising Go to market/marketing strategy Budget, finance and projections Management team/team building Resource planning Operations planning Technology development Intellectual property Board composition and management
  6. 6. VIEW FROM THE MIDDLE
  7. 7. DAN TRIPODI FOUNDING PARTNER – SAGE GROUP  SAGE GROUP – HEALTH CARE CONSULTING  STRATEGIC, M&A, LICENSING, VALUATIONS  GLOBAL  PHARM, BIIOTECH, DEVICES, DIAGNOSTICS, RES. PRODUCTS  ˜ 20 YEARS
  8. 8. PRIOR EXPERIENCE J&J B-D NEN FACULTIES  U OF PENN (ADJUNCT PROFESSOR)  TEMPLE UNIVERSITY (ADJUNCT PROFESSOR)  UNIVERSITY OF DELAWARE (ADJUNCT PROFESSOR) UNIVERSITY OF UTAH (CONSULTANT) TRUSTEE – FTC
  9. 9. VIEW FROM THE MIDDLE
  10. 10. PRE-GAME TALK VIEW FROM THE MIDDLE  UNIQUE PERSPECTIVE  IN THE MIDST OF THE ACTION  CONTROLLING GAME AND EMOTIONS  “COACHING”  PREVENTING PENALTIES
  11. 11. SEED GRANT INVOLVEMENT STONY BROOK “CLONING” EVOLUTION OF TIER FUNDING APPROX 30 YEARS INDUSTRY EXPERIENCE OF START-UPS SCARS AND BRUISES
  12. 12. LESSONS LEARNED PATIENCE EDUCATING FACULTY OMBUDSMAN EARLY GUIDANCE MONITORING FOCUS OF TCO$
  13. 13. LEARNED LESSONS (CONTINUED) EXTERNAL ACCEPTANCE (ADMINISTRATIVE CREDIBILITY) EVOLUTIONS OF TIER FUNDING OUTSIDE INVESTMENT DEAL FLOW INCUBATOR
  14. 14. FOCUS OF SEED GRANT TECHNOLOGY MARKET POTENTIAL
  15. 15. PROCESS MEET WITH CHAIRMAN AND FACULTY REVIEW POTENTIAL CANDIDATE PROGRAMS SUBMISSION OF PROPOSALS PANEL REVIEW OF PROPOSALS SELECT GRANTS MONITOR PROGRESS
  16. 16. BEYOND SEED GRANT TIER FUNDING OPTIONS CONCEPT – $7-10  TEST THEORY OR CONCEPT SEED GRANT - $30 – 40  PROOF OF CONCEPT  IP  INROADS TO COMMERCIALIZATION
  17. 17. BEYOND SEED GRANT TIER FUNDING OPTIONS NEXT STAGE DEVELOPMENT - $50 (LOAN)  FORMED COMPANIES ONLY  OUTSIDE FUNDING  PROTOTYPE DEVELOPMENT  EARLY BETA TESTING
  18. 18. BEYOND SEED GRANT TIER FUNDING OPTIONS EXCELLENCE GRANT - $100-250  HIGH POTENTIAL  LOWER RISK  LATE DEVELOPMENT  FOCUSED ATTENTION REQUIRED
  19. 19. TRENDS POWER OF THE INTERNET POSITIONING OF THE TECHNOLOGY – KEY OUTSOURCING  COST CONSTRAINTS  SPECIALISTS – GREATER EFFICIENCIES FOCUSED, PROFESSIONAL, SPECIALTY COMPANIES EMERGING
  20. 20. GapUniversity Corporations Technology
  21. 21. GapUNIVERSITY CORPORATIONS Tech
  22. 22. FUTURE OUTLOOK EXPLOSION OF NASCENT, NOVEL TECHNOLOGY RESISTANCE OF CO’S TO LICENSE OR ACQUIRE GAP WIDENS SHRINKING OF FED AND STATE FUNDING U’S MUST NURTURE TECHNOLOGIES U’S MUST BE SMART IN SELECTING TO BRING IN VALUE TCO’S WILL CONTINUE TO BRING IN FUNDING PUSH FOR GREATER EFFICIENCIES
  23. 23. SUMMARY EXTERNAL HELP NEED TO BE “IN THE MIDDLE” TO BE EFFECTIVE – NOT INDUSTRY, NOT UNIVERSITY “NEITHER/NOR” TRUST AMONG FACULTY TO BE THEIR SPOKESMAN PATIENCE

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