Basics about Science Entrepreneurship

1. Science entrepreneurship – making it big? Dr Lorraine Warren School of Management, University of Southampton February 3, 2011, English College in Prague

2. Science?

3. Or…

4. Geeks are cool, no?

5. Worse..

6. Are there any wealthy scientists?

7. Alchemy?

16. Southampton Science Park

17. Collaboration Merck <-> UoS Merck building Has physics and chemistry laboratories on the upper floor and offices on the ground floor for research into liquid crystals.

19. Resources Level of Development Existing Research and Development Resources Existing Commercialization Resources Discovery TFP Product Development Commercialization The Valley of Death

20. Resources Level of Development Existing Research Resources (Technical and Market) Existing Commercialization Resources Discovery FFE Development Commercialization Technology Feasibility Point Decision space between opportunity discovery and product development Area of Study

21. Gap between Research and Commercial Application: Targeting resources where they have the greatest impact on new business creation Resources Research Faculty Service Providers / Complementary Assets Level of Development “ Valley of Death” Existing Research Resources Existing Commercialization Resources Decision space between discovery and product development

26. T P P P P P M M M M M M M M M The most basic building block of a Business Concept Why is it difficult?: Technology - Product - Market Linkages

27. The TEC Algorithm (Professor Angus Kingon, NCSU) Description / Ideation Commercialization Strategy Commercialization Implementation Database or Further Development Phase I Phase II

28. The TEC Algorithm Information Gathering Description / Ideation Commercialization Strategy Commercialization Implementation Database or Further Development Phase I Phase II

29. Launch Funding Sr Mgmt Strategy Development Primary Information Gathering Preliminary Assessment Product Concept Product Formulation Preliminary Assessment Primary Information Gathering Strategy Development Implementation