Failure
It’s Everywhere General George Custer Train wreck at Montparnesse Station, Paris
It Continuously Morphs Shoreham Nuclear Plant, $6 Billion failure paid by utility users Pirates off the Somali Coast
It Can be Catastrophic Russian Submarine Kursk in dry dock AA Flight 191 in Chicago Crash, May 1979
It Can be Disguised Boston Central Artery Seal of the Securities and Exchange commission
Risk + Failure = Education <ul><li>“ Failure is the tuition you pay for success.” </li></ul><ul><li>Walter Brunell   </li>...
Benefits of Failure <ul><li>“ Remember the two benefits of failure.  </li></ul><ul><li>First,  if you do fail, you learn w...
The Fruits of Failure - Success <ul><li>“ There are no secrets to success.  </li></ul><ul><li>It is the result of preparat...
Failure by Types <ul><li>Aircraft Failures </li></ul><ul><li>The First Aircraft Failure – The de Havilland Comet </li></ul...
Failure by Type <ul><li>Spacecraft Failures </li></ul><ul><li>Apollo 13 </li></ul><ul><li>Space Shuttle Challenger </li></...
Failure by Type <ul><li>Submarines, Where Failure is Not an Option </li></ul><ul><li>Before the Kursk </li></ul><ul><li>Th...
Failure by Type <ul><li>Intelligence </li></ul><ul><li>Custer’s Last Stand - June 26th, 1876 </li></ul><ul><li>Pearl Harbo...
Failure by Type <ul><li>Business </li></ul><ul><li>Barings Bank </li></ul><ul><li>Long Term Capital Management </li></ul><...
Failure by Type <ul><li>Public Sector Failures </li></ul><ul><li>Shoreham Nuclear Power Plant </li></ul><ul><li>Washington...
Our Favorite Failure <ul><li>Long Term Capital Management (LTCM) </li></ul><ul><li>Myron Scholes, Robert C. Merton  </li><...
Our Favorite Failure <ul><li>A-380 Airbus </li></ul><ul><li>Great advance in aircraft design and construction. </li></ul><...
Our Favorite Failures <ul><li>Segway </li></ul><ul><li>A nearly total market failure. </li></ul><ul><li>A perfectly engine...
The DenTech Approach <ul><li>Failure is  </li></ul><ul><li>THE  </li></ul><ul><li>Heuristic Algorithm </li></ul><ul><li>(O...
The Repeating Failure - Ignorance <ul><li>Hiding from failure. </li></ul><ul><li>Penalizing  useful  failure. </li></ul><u...
What’s to be  Learned from Failure? <ul><li>Fail fast. </li></ul><ul><li>Recover quickly. </li></ul><ul><li>Learn by doing...
DenTech Lesson #1 –  Do not copy Silicon Valley <ul><li>The Silicon Valley View of Technology Transfer </li></ul>
The Silicon Valley Pace of  Technology Transfer <ul><li>Glacial rates of IP transfer </li></ul><ul><li>Focused on the blee...
The DenTech View of Tech Transfer <ul><li>Speed to market is critical. </li></ul><ul><li>Always  use proven technology. </...
DenTech’s Key Strengths <ul><li>Medium  technology – nothing too exotic. </li></ul><ul><li>Rapid  engineering – aggressive...
DenTech Project Selection Processes <ul><li>DenTech   selects technologies with wide gaps, but poorly engaged engineering ...
Focused Local Manufacturing <ul><li>Integrating  infrastructure with manufacturing  demands a local focus. </li></ul><ul><...
3 of our selected projects - <ul><li>Ultra-light Human Electric Hybrid Vehicles </li></ul><ul><li>Vertical Solar Thermal C...
Ultra-light Human Electric Hybrid Vehicles Based on composite materials Pedalectric Vehicles Inc. ( www.pedalectric.com  )...
Vertical Thermal Solar Collectors <ul><li>Extremely efficient in land use. </li></ul><ul><li>Integrates with site architec...
DenTech Next Project –  Biometric-Controlled Mail Terminals <ul><li>Mail controlled by USPS delivered to GPS/biometric loc...
DenTech <ul><li>DenTech Inc. </li></ul><ul><li>3950 Franklin Street </li></ul><ul><li>Denver, Colorado 80205 </li></ul><ul...
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Denver Technology Transfer (Rev 1 B)

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alternative approaches to success in technology transfer

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Denver Technology Transfer (Rev 1 B)

  1. 1. Failure
  2. 2. It’s Everywhere General George Custer Train wreck at Montparnesse Station, Paris
  3. 3. It Continuously Morphs Shoreham Nuclear Plant, $6 Billion failure paid by utility users Pirates off the Somali Coast
  4. 4. It Can be Catastrophic Russian Submarine Kursk in dry dock AA Flight 191 in Chicago Crash, May 1979
  5. 5. It Can be Disguised Boston Central Artery Seal of the Securities and Exchange commission
  6. 6. Risk + Failure = Education <ul><li>“ Failure is the tuition you pay for success.” </li></ul><ul><li>Walter Brunell </li></ul><ul><li>“ To be wrong is nothing unless you continue to remember it” </li></ul><ul><li>Confucius </li></ul>
  7. 7. Benefits of Failure <ul><li>“ Remember the two benefits of failure. </li></ul><ul><li>First, if you do fail, you learn what doesn't work; </li></ul><ul><li>Second, the failure gives you the opportunity to try a new approach.” </li></ul><ul><li>Roger Von Oech </li></ul>
  8. 8. The Fruits of Failure - Success <ul><li>“ There are no secrets to success. </li></ul><ul><li>It is the result of preparation, hard work, and learning from failure. ” </li></ul><ul><li>Colin Powell </li></ul>
  9. 9. Failure by Types <ul><li>Aircraft Failures </li></ul><ul><li>The First Aircraft Failure – The de Havilland Comet </li></ul><ul><li>DC 10 American Airlines Flight 191 From Chicago </li></ul><ul><li>TWA Flight 800 – July 17th, 1996 </li></ul>
  10. 10. Failure by Type <ul><li>Spacecraft Failures </li></ul><ul><li>Apollo 13 </li></ul><ul><li>Space Shuttle Challenger </li></ul><ul><li>Space Shuttle Columbia </li></ul>
  11. 11. Failure by Type <ul><li>Submarines, Where Failure is Not an Option </li></ul><ul><li>Before the Kursk </li></ul><ul><li>The Thresher Submarine Disaster </li></ul><ul><li>Recent Submarines – The Kursk </li></ul>
  12. 12. Failure by Type <ul><li>Intelligence </li></ul><ul><li>Custer’s Last Stand - June 26th, 1876 </li></ul><ul><li>Pearl Harbor - December 7th, 1941 </li></ul><ul><li>World Trade Center- September 11th, 2001 </li></ul>
  13. 13. Failure by Type <ul><li>Business </li></ul><ul><li>Barings Bank </li></ul><ul><li>Long Term Capital Management </li></ul><ul><li>General Motors </li></ul><ul><li>Lehman Brothers </li></ul>
  14. 14. Failure by Type <ul><li>Public Sector Failures </li></ul><ul><li>Shoreham Nuclear Power Plant </li></ul><ul><li>Washington Public Power Supply System (WPPSS) Bond Default </li></ul><ul><li>Boston Central Artery/Tunnel </li></ul><ul><li>DIA Baggage Claim </li></ul>
  15. 15. Our Favorite Failure <ul><li>Long Term Capital Management (LTCM) </li></ul><ul><li>Myron Scholes, Robert C. Merton </li></ul><ul><li>(Nobel Prize winners) </li></ul><ul><li>John Meriwether </li></ul><ul><li>(Former Head of Bond Trading Salomon Brothers) </li></ul><ul><li>Lesson: Leverage = picking up nickels in front of a bulldozer. </li></ul>
  16. 16. Our Favorite Failure <ul><li>A-380 Airbus </li></ul><ul><li>Great advance in aircraft design and construction. </li></ul><ul><li>Years late, billions over-budget. </li></ul><ul><li>Airbus industries may never recover. </li></ul><ul><li>Lesson: Complexity can breed failure </li></ul>
  17. 17. Our Favorite Failures <ul><li>Segway </li></ul><ul><li>A nearly total market failure. </li></ul><ul><li>A perfectly engineered product. </li></ul><ul><li>Building for the engineer… not the market. </li></ul><ul><li>Segway loses money (a lot) on every unit. </li></ul><ul><li>To repay investors, each Segway should cost about $160,000. (just the principal). </li></ul><ul><li>Lesson: Build for the market </li></ul>
  18. 18. The DenTech Approach <ul><li>Failure is </li></ul><ul><li>THE </li></ul><ul><li>Heuristic Algorithm </li></ul><ul><li>(Or - it should be) </li></ul>
  19. 19. The Repeating Failure - Ignorance <ul><li>Hiding from failure. </li></ul><ul><li>Penalizing useful failure. </li></ul><ul><li>Rewarding useless failure. </li></ul><ul><li>Refusing to learn from failure. </li></ul><ul><li>Claiming that failure does not exist. </li></ul><ul><li>Ignoring the causes of system failure. </li></ul><ul><li>Concealing failure with additional funding. </li></ul>
  20. 20. What’s to be Learned from Failure? <ul><li>Fail fast. </li></ul><ul><li>Recover quickly. </li></ul><ul><li>Learn by doing, not by planning. </li></ul><ul><li>Study every error (yours, ours & theirs). </li></ul>
  21. 21. DenTech Lesson #1 – Do not copy Silicon Valley <ul><li>The Silicon Valley View of Technology Transfer </li></ul>
  22. 22. The Silicon Valley Pace of Technology Transfer <ul><li>Glacial rates of IP transfer </li></ul><ul><li>Focused on the bleeding edge of technology </li></ul><ul><li>Risky, and expensive </li></ul><ul><li>High rate of failure. </li></ul>Graphic view of IP going to Market
  23. 23. The DenTech View of Tech Transfer <ul><li>Speed to market is critical. </li></ul><ul><li>Always use proven technology. </li></ul><ul><li>Best practices & processes are </li></ul><ul><li>required. </li></ul><ul><li>Kill losers early with the ‘ Stage Gate ’ process. </li></ul><ul><li>Engineer the market with the product and the infrastructure. </li></ul>
  24. 24. DenTech’s Key Strengths <ul><li>Medium technology – nothing too exotic. </li></ul><ul><li>Rapid engineering – aggressive design cycle. </li></ul><ul><li>Market driven – early prototypes, easily altered. </li></ul><ul><li>Extensive attention to regulatory infrastructure. </li></ul><ul><li>Extensive focus on co-developed infrastructure. </li></ul><ul><li>Cheap to market – extremely low break even . </li></ul><ul><li>Rapid cycles of product evolution. </li></ul>
  25. 25. DenTech Project Selection Processes <ul><li>DenTech selects technologies with wide gaps, but poorly engaged engineering and marketing. </li></ul><ul><li>DenTech transforms poorly engaged technologies with industrial resources. </li></ul><ul><li>DenTech engineer’s commercialization with development. </li></ul>
  26. 26. Focused Local Manufacturing <ul><li>Integrating infrastructure with manufacturing demands a local focus. </li></ul><ul><li>Localized efforts enhance the ability to carry out design changes quickly. </li></ul><ul><li>Regionalized production gains </li></ul><ul><li>Substantial local $$ support. </li></ul><ul><li>Local integration hedges against some systemic risks. </li></ul>
  27. 27. 3 of our selected projects - <ul><li>Ultra-light Human Electric Hybrid Vehicles </li></ul><ul><li>Vertical Solar Thermal Collection w/ Sub-grade Thermal Storage </li></ul><ul><li>Biometric Mail/ Voting/Medical monitoring Terminals </li></ul>
  28. 28. Ultra-light Human Electric Hybrid Vehicles Based on composite materials Pedalectric Vehicles Inc. ( www.pedalectric.com ) builds ultra-light, human-electric hybrid vehicles. Applying mechanical advantage
  29. 29. Vertical Thermal Solar Collectors <ul><li>Extremely efficient in land use. </li></ul><ul><li>Integrates with site architecture. </li></ul><ul><li>Works with natural gas turbines/CHP. </li></ul><ul><li>Works well with absorption cooling systems. </li></ul><ul><li>Stores thermal energy underground (hot/cold). </li></ul><ul><li>Works with existing central plant equipment. </li></ul><ul><li>Can be used at urban & suburban ‘point of use’. </li></ul><ul><li>More efficient than current thermal solar utilities. </li></ul>www.PeakVerticalPower.com
  30. 30. DenTech Next Project – Biometric-Controlled Mail Terminals <ul><li>Mail controlled by USPS delivered to GPS/biometric location </li></ul><ul><li>Cellular phone technology enabled, fully wireless. </li></ul><ul><li>Failsafe delivery. </li></ul><ul><li>Printer enabled with on-line redundancy. </li></ul><ul><li>No direct cost to end user. </li></ul><ul><li>Applications </li></ul><ul><li>Guaranteed delivery mail, 1 st class and certified. Secure. </li></ul><ul><li>Remote medical monitoring – breath, blood & vital signs. </li></ul><ul><li>Voting. </li></ul><ul><li>Newspaper delivery with ads and/or subscriptions. </li></ul><ul><li>Age - appropriate configurations. Word to voice mail on command. </li></ul><ul><li>Extensive overlap in revenue generation model </li></ul>
  31. 31. DenTech <ul><li>DenTech Inc. </li></ul><ul><li>3950 Franklin Street </li></ul><ul><li>Denver, Colorado 80205 </li></ul><ul><li>303-884-3203 </li></ul>www.denvertechnologytransfer.com

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