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Maximising Commercial
  Impact of UK R&D




        Brian McCaul
    Director of Commercialisation
         University of Leeds
Maximising Commercial
  Impact of UK R&D




        Brian McCaul
    Director of Commercialisation
         University of Leeds
Maximising Commercial
  Impact of UK R&D




        Brian McCaul
   Knowledge Transfer 2.0 Services
State of the Knowledge Transfer
            Nation...?
State of the Knowledge Transfer
            Nation...?


            Not
State of the Knowledge Transfer
            Nation...?


            Not
     No prescribed Programme
State of the Knowledge Transfer
            Nation...?


            Not
     No prescribed Programme
     No Best Practice Model
State of the Knowledge Transfer
            Nation...?


                Not
     No prescribed Programme
     No Best Practice Model
     Just some examples that have worked
Some trends in
Innovation practice...
Towards Openness
Open Innovation
Open Source
Crowd sourcing
Co-creation



“most of the smart people
don’t work for you”
“I’d like to take all of our geology, all the data we have that goes
back to 1948, and put it into a file and share it with the world,”
Over 80 percent of the new targets yielded substantial quantities of
gold. 8 million ounces of gold found. Shaved two to three years off
exploration time.
Towards Collaboration..
Towards Collaboration..
Towards Collaboration..




 KT was about individual
 research excellence
 - groups or individuals
Towards Collaboration..


                           KT 2.0 understands
                           that innovation is a
                           social process
 KT was about individual
 research excellence
 - groups or individuals
Towards Collaboration..


                           KT 2.0 understands
                           that innovation is a
                           social process
 KT was about individual
 research excellence
 - groups or individuals
Procter & Gamble
Procter & Gamble




 Harvard Business Review article authored by two P&G
 executives, the companyʼs innovation success rate has more
 than doubled while the cost of innovation has fallen
Towards Services...
                                        Actual                                                    Forecast

100

                     Shift towards Services in the US since 1800

 75                     Agriculture
      Per cent-age




                                                   Goods
 50




                                                                                     Services
 25




                                                 Year      Source: J Spoher, Haas School of Business (via H Chesbrough)
 0
  1800               1850             1900        1950            2000                     2010                    2050


                        services                  goods                         agriculture
Innovation Platform
                                     or Burning Platform...

Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the
key to staying ahead of the game.

Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking.

It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to
co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The
Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation.
Innovation Platform
                                     or Burning Platform...
               "Our competitors aren't taking our market
               share with devices; they are taking our
               market share with an entire ecosystem...
Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the
key to staying ahead of the game.

Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking.


               We're not collaborating internally... Nokia,
It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to
co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The
Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation.

               our platform is burning."
               Nokia CEO Stephen Elop
Innovation Platform
                                     or Burning Platform...

Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the
key to staying ahead of the game.

Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking.

It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to
co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The
Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation.
Innovation Platform
                                     or Burning Platform...

Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the
key to staying ahead of the game.

Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking.

It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to
co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The
Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation.




                      “Whenever we see a business plan for a new
                      device, we immediately ask. OK, where’s the
                          services associated with that device”
So how does this allow us to increase
‘Impact’ & improve IP transfer...
3 Pinch-points make KT inefficient
3 Pinch-points make KT inefficient




                 n
              tio
             lec
         Se
         ct
        je
     ro
    1P
3 Pinch-points make KT inefficient




                     2B
                 n
              tio




                       us
             lec




                         ine
         Se




                            ss
                               De
         ct
        je




                                 ve
     ro




                                   lop
    1P




                                      me
                                        nt
3 Pinch-points make KT inefficient




                      2B
                 n
              tio




                        us
             lec




                          ine
         Se




                             ss
                                De
         ct
        je




                                  ve
     ro




                                    lop
    1P




                                       me
                                         nt
     3 The Funding Valley of Death
1
Pinch-point
Selection
1
                  Pinch-point
                  Selection



It’s not too many good ideas
1
                  Pinch-point
                  Selection



It’s not too many good ideas
It’s not too little resource
1
                  Pinch-point
                  Selection



It’s not too many good ideas
It’s not too little resource
It’s Filter Failure
Filtering:
Filtering:
Is time-consuming
Filtering:
Is time-consuming
Requires a lot of clever people
Filtering:
Is time-consuming
Requires a lot of clever people
Is still not the market, but a guess
The digital age has ushered new
ways to filter information...


Crowds, with cognitive diversity & multiple perspectives,
in aggregate provide stronger raw intelligence of any single person
Project selection through the:

Wisdom of the Crowd
Improves decision making, removes a
constraint, increases transparency...
Scaling Development Capability
Scaling Development Capability




                2B
                  us
                    ine
                       ss
                          De
                            ve
                              lop
                                 me
                                   nt
Pinch-point
    You can’t do it all alone...
Pinch-point
    You can’t do it all alone...
 KT used to be about
 assembling and employing
 the most able team
Pinch-point
    You can’t do it all alone...
 KT used to be about        KT 2.0  is all about
 assembling and employing   assembling & connecting
 the most able team         the right network
Proposition 1
You can’t do it all alone...
Proposition 1
You can’t do it all alone...
              KT 2.0  is about
                  assembling the right
                  network…
Proposition 1
You can’t do it all alone...
              KT 2.0  is about
                  assembling the right
                  network…



                    Can’t employ all
                    the smart people...
Proposition 1
You can’t do it all alone...
              KT 2.0  is about
                  assembling the right
                  network…



                    Can’t employ all
                    the smart people...
                    Don’t want to
                    employ them...
Proposition 1
      You can’t do it all alone...
                    KT 2.0  is about
                         assembling the right
                         network…



                           Can’t employ all
                           the smart people...
                           Don’t want to
                           employ them...
                           Can give ‘skin’ to
Particularly to plan       non-emloyees...
and develop a
complex business
proposition
Overcoming Investment Constraints
Overcoming Investment Constraints




     3 The Funding Valley of Death
We can’t wait for the lightning strike




                                  Externals more credible
                                  Project selection via
                                   externals better

 KT was solely focused on the
 large VC deal and avoidance of
 the ‘low-value’ deal
We can’t wait for the lightning strike
                                  KT2.0 understands that
                                  alternative funding/exit
                                  strategies will become an
                                  important part of the mix




                                  Externals more credible
                                  Project selection via
                                   externals better

 KT was solely focused on the
 large VC deal and avoidance of
 the ‘low-value’ deal
We can’t wait for the lightning strike
                                  KT2.0 understands that
                                  alternative funding/exit
                                  strategies will become an
                                  important part of the mix




                                  Externals more credible
                                  Project selection via
                                   externals better

 KT was solely focused on the
 large VC deal and avoidance of
 the ‘low-value’ deal
“the future isn’t big
anymore, the future
is small”
“the future isn’t big
anymore, the future
is small”




we might revisit
the dismissive
notion of the
‘walking dead’
spinout.
Pinch-point
Cascading Exploitation
Opportunities
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
   Tech Transfer Office
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
   Tech Transfer Office
     Virtual Community
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
   Tech Transfer Office
     Virtual Community
        IP-net
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
   Tech Transfer Office
     Virtual Community
        IP-net
          ‘Glasgow model’
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
   Tech Transfer Office
     Virtual Community
        IP-net
          ‘Glasgow model’
             The academic
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
   Tech Transfer Office
     Virtual Community
        IP-net
          ‘Glasgow model’
             The academic
Pinch-point
Cascading Exploitation
Opportunities

IP Group or Fusion IP etc
  Tech Transfer Office
     Virtual Community
       IP-net
          ‘Glasgow model’
             The academic
Green Chemical Dyeing Technology
Green Chemical Dyeing Technology
Green Chemical Dyeing Technology



    ...by VC because took a year to review
Green Chemical Dyeing Technology



    ...by VC because took a year to review
               FILTER FAILURE
Green Chemical Dyeing Technology



     ...by VC because took a year to review
                FILTER FAILURE
 & University didn’t have connections to market
Green Chemical Dyeing Technology



     ...by VC because took a year to review
                FILTER FAILURE
 & University didn’t have connections to market
          FAILURE TO COLLABORATE
Green Chemical Dyeing Technology



     ...by VC because took a year to review
                FILTER FAILURE
 & University didn’t have connections to market
          FAILURE TO COLLABORATE
Green Chemical Dyeing Technology
Green Chemical Dyeing Technology




 ...Now largest Licence option for University
Internal Committee Rejected as “not compelling”
              FILTER FAILURE

  Full value lies in platform for other services
Internal Committee Rejected as “not compelling”
              FILTER FAILURE

  Full value lies in platform for other services
First Angel Investment seven years
First Sales, broad range of markets
Lot of press attention...
Filling without Drilling
Filling without Drilling
Filling without Drilling

 Because VC sat on it since 2003
Filling without Drilling

 Because VC sat on it since 2003
       FILTER FAILURE
Filling without Drilling

 Because VC sat on it since 2003
       FILTER FAILURE

  University failed to progress
Filling without Drilling

     Because VC sat on it since 2003
           FILTER FAILURE

     University failed to progress
LACK OF INTERNAL BIZ DEV. CAPABILITY
Filling without Drilling

     Because VC sat on it since 2003
           FILTER FAILURE

     University failed to progress
LACK OF INTERNAL BIZ DEV. CAPABILITY




 Spun out - Oversubscribed
 First investment round of £1.5m
Filling without Drilling

     Because VC sat on it since 2003
           FILTER FAILURE

     University failed to progress
LACK OF INTERNAL BIZ DEV. CAPABILITY




 Spun out - Oversubscribed
 First investment round of £1.5m
Ten-fold Income Increase...
1000000




                                            ere!
 750000




                                           rts h
              Licence Income




                                             a
                                       nt st
 500000




                                     rime
 250000                            Expe


     0
     2004/5   2005/6   2006/07   2008/09      2009/10   2010/11   20011/12
Ten-fold Income Increase...
1000000




                                            ere!
 750000




                                           rts h
              Licence Income




                                             a
                                       nt st
 500000




                                     rime
 250000                            Expe


     0
     2004/5   2005/6   2006/07   2008/09      2009/10   2010/11   20011/12



                                 With reduced cost base...
A New Game - New Rules...
     Knowledge
     Transfer 2.0
     Getting more from less
Openness Accelerates Innovation
     & improves selection
Openness Accelerates Innovation
     & improves selection


Collaboration Provides Scalability
         & Reduces risk
Openness Accelerates Innovation
     & improves selection


Collaboration Provides Scalability
         & Reduces risk
Openness Accelerates Innovation
     & improves selection


Collaboration Provides Scalability
         & Reduces risk

 Building a Platform is Critical to
         Facilitating this
... and to speed and scale ‘Impact’
             and IP flow!
Thanks


Brian.mccaul@mac.com

 Twitter: @brianamc

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Ukbi 2011 presentation - Maximising Commercial Impact from public R&D

  • 1. Maximising Commercial Impact of UK R&D Brian McCaul Director of Commercialisation University of Leeds
  • 2. Maximising Commercial Impact of UK R&D Brian McCaul Director of Commercialisation University of Leeds
  • 3. Maximising Commercial Impact of UK R&D Brian McCaul Knowledge Transfer 2.0 Services
  • 4. State of the Knowledge Transfer Nation...?
  • 5. State of the Knowledge Transfer Nation...? Not
  • 6. State of the Knowledge Transfer Nation...? Not No prescribed Programme
  • 7. State of the Knowledge Transfer Nation...? Not No prescribed Programme No Best Practice Model
  • 8. State of the Knowledge Transfer Nation...? Not No prescribed Programme No Best Practice Model Just some examples that have worked
  • 10. Towards Openness Open Innovation Open Source Crowd sourcing Co-creation “most of the smart people don’t work for you”
  • 11.
  • 12. “I’d like to take all of our geology, all the data we have that goes back to 1948, and put it into a file and share it with the world,”
  • 13.
  • 14. Over 80 percent of the new targets yielded substantial quantities of gold. 8 million ounces of gold found. Shaved two to three years off exploration time.
  • 15.
  • 18. Towards Collaboration.. KT was about individual research excellence - groups or individuals
  • 19. Towards Collaboration.. KT 2.0 understands that innovation is a social process KT was about individual research excellence - groups or individuals
  • 20. Towards Collaboration.. KT 2.0 understands that innovation is a social process KT was about individual research excellence - groups or individuals
  • 21.
  • 23. Procter & Gamble Harvard Business Review article authored by two P&G executives, the companyʼs innovation success rate has more than doubled while the cost of innovation has fallen
  • 24. Towards Services... Actual Forecast 100 Shift towards Services in the US since 1800 75 Agriculture Per cent-age Goods 50 Services 25 Year Source: J Spoher, Haas School of Business (via H Chesbrough) 0 1800 1850 1900 1950 2000 2010 2050 services goods agriculture
  • 25. Innovation Platform or Burning Platform... Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the key to staying ahead of the game. Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking. It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation.
  • 26. Innovation Platform or Burning Platform... "Our competitors aren't taking our market share with devices; they are taking our market share with an entire ecosystem... Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the key to staying ahead of the game. Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking. We're not collaborating internally... Nokia, It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation. our platform is burning." Nokia CEO Stephen Elop
  • 27. Innovation Platform or Burning Platform... Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the key to staying ahead of the game. Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking. It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation.
  • 28. Innovation Platform or Burning Platform... Nokia’s CEO’s wake-up call to his firm’s “burning platform” - resulting from a failure to keep-up with innovation in the mobile space – is a timely reminder of how ‘platforms’ themselves are the key to staying ahead of the game. Maybe the new Microsoft tie-up will turn things round – maybe it won’t. But this short video of Henry Chesbrough is a neat summary of how innovation changed while Nokia wasn't looking. It seems increasingly that key to building such innovation platforms - as with Google Android, now the largest mobile platform, and the Apple iPhone operating system - has been openness to co-creation, and user-innovation. This not only applies to innovation strategy in the software space but, increasingly, in the product space, as articles in the New York Times and The Economist have recently addressed. Summary: there appears to be a real price to be paid for a lack of openness in both product and software innovation. “Whenever we see a business plan for a new device, we immediately ask. OK, where’s the services associated with that device”
  • 29. So how does this allow us to increase ‘Impact’ & improve IP transfer...
  • 30. 3 Pinch-points make KT inefficient
  • 31. 3 Pinch-points make KT inefficient n tio lec Se ct je ro 1P
  • 32. 3 Pinch-points make KT inefficient 2B n tio us lec ine Se ss De ct je ve ro lop 1P me nt
  • 33. 3 Pinch-points make KT inefficient 2B n tio us lec ine Se ss De ct je ve ro lop 1P me nt 3 The Funding Valley of Death
  • 35. 1 Pinch-point Selection It’s not too many good ideas
  • 36. 1 Pinch-point Selection It’s not too many good ideas It’s not too little resource
  • 37. 1 Pinch-point Selection It’s not too many good ideas It’s not too little resource It’s Filter Failure
  • 38.
  • 42. Filtering: Is time-consuming Requires a lot of clever people Is still not the market, but a guess
  • 43. The digital age has ushered new ways to filter information... Crowds, with cognitive diversity & multiple perspectives, in aggregate provide stronger raw intelligence of any single person
  • 44. Project selection through the: Wisdom of the Crowd Improves decision making, removes a constraint, increases transparency...
  • 45.
  • 46.
  • 48. Scaling Development Capability 2B us ine ss De ve lop me nt
  • 49. Pinch-point You can’t do it all alone...
  • 50. Pinch-point You can’t do it all alone... KT used to be about assembling and employing the most able team
  • 51. Pinch-point You can’t do it all alone... KT used to be about KT 2.0  is all about assembling and employing assembling & connecting the most able team the right network
  • 52. Proposition 1 You can’t do it all alone...
  • 53. Proposition 1 You can’t do it all alone... KT 2.0  is about assembling the right network…
  • 54. Proposition 1 You can’t do it all alone... KT 2.0  is about assembling the right network… Can’t employ all the smart people...
  • 55. Proposition 1 You can’t do it all alone... KT 2.0  is about assembling the right network… Can’t employ all the smart people... Don’t want to employ them...
  • 56. Proposition 1 You can’t do it all alone... KT 2.0  is about assembling the right network… Can’t employ all the smart people... Don’t want to employ them... Can give ‘skin’ to Particularly to plan non-emloyees... and develop a complex business proposition
  • 58. Overcoming Investment Constraints 3 The Funding Valley of Death
  • 59. We can’t wait for the lightning strike Externals more credible Project selection via externals better KT was solely focused on the large VC deal and avoidance of the ‘low-value’ deal
  • 60. We can’t wait for the lightning strike KT2.0 understands that alternative funding/exit strategies will become an important part of the mix Externals more credible Project selection via externals better KT was solely focused on the large VC deal and avoidance of the ‘low-value’ deal
  • 61. We can’t wait for the lightning strike KT2.0 understands that alternative funding/exit strategies will become an important part of the mix Externals more credible Project selection via externals better KT was solely focused on the large VC deal and avoidance of the ‘low-value’ deal
  • 62.
  • 63. “the future isn’t big anymore, the future is small”
  • 64. “the future isn’t big anymore, the future is small” we might revisit the dismissive notion of the ‘walking dead’ spinout.
  • 67. Pinch-point Cascading Exploitation Opportunities IP Group or Fusion IP etc Tech Transfer Office
  • 68. Pinch-point Cascading Exploitation Opportunities IP Group or Fusion IP etc Tech Transfer Office Virtual Community
  • 69. Pinch-point Cascading Exploitation Opportunities IP Group or Fusion IP etc Tech Transfer Office Virtual Community IP-net
  • 70. Pinch-point Cascading Exploitation Opportunities IP Group or Fusion IP etc Tech Transfer Office Virtual Community IP-net ‘Glasgow model’
  • 71. Pinch-point Cascading Exploitation Opportunities IP Group or Fusion IP etc Tech Transfer Office Virtual Community IP-net ‘Glasgow model’ The academic
  • 72. Pinch-point Cascading Exploitation Opportunities IP Group or Fusion IP etc Tech Transfer Office Virtual Community IP-net ‘Glasgow model’ The academic
  • 73. Pinch-point Cascading Exploitation Opportunities IP Group or Fusion IP etc Tech Transfer Office Virtual Community IP-net ‘Glasgow model’ The academic
  • 74. Green Chemical Dyeing Technology
  • 75. Green Chemical Dyeing Technology
  • 76. Green Chemical Dyeing Technology ...by VC because took a year to review
  • 77. Green Chemical Dyeing Technology ...by VC because took a year to review FILTER FAILURE
  • 78. Green Chemical Dyeing Technology ...by VC because took a year to review FILTER FAILURE & University didn’t have connections to market
  • 79. Green Chemical Dyeing Technology ...by VC because took a year to review FILTER FAILURE & University didn’t have connections to market FAILURE TO COLLABORATE
  • 80. Green Chemical Dyeing Technology ...by VC because took a year to review FILTER FAILURE & University didn’t have connections to market FAILURE TO COLLABORATE
  • 81. Green Chemical Dyeing Technology
  • 82. Green Chemical Dyeing Technology ...Now largest Licence option for University
  • 83.
  • 84.
  • 85.
  • 86. Internal Committee Rejected as “not compelling” FILTER FAILURE Full value lies in platform for other services
  • 87. Internal Committee Rejected as “not compelling” FILTER FAILURE Full value lies in platform for other services
  • 88.
  • 89. First Angel Investment seven years First Sales, broad range of markets Lot of press attention...
  • 92. Filling without Drilling Because VC sat on it since 2003
  • 93. Filling without Drilling Because VC sat on it since 2003 FILTER FAILURE
  • 94. Filling without Drilling Because VC sat on it since 2003 FILTER FAILURE University failed to progress
  • 95. Filling without Drilling Because VC sat on it since 2003 FILTER FAILURE University failed to progress LACK OF INTERNAL BIZ DEV. CAPABILITY
  • 96. Filling without Drilling Because VC sat on it since 2003 FILTER FAILURE University failed to progress LACK OF INTERNAL BIZ DEV. CAPABILITY Spun out - Oversubscribed First investment round of £1.5m
  • 97. Filling without Drilling Because VC sat on it since 2003 FILTER FAILURE University failed to progress LACK OF INTERNAL BIZ DEV. CAPABILITY Spun out - Oversubscribed First investment round of £1.5m
  • 98. Ten-fold Income Increase... 1000000 ere! 750000 rts h Licence Income a nt st 500000 rime 250000 Expe 0 2004/5 2005/6 2006/07 2008/09 2009/10 2010/11 20011/12
  • 99. Ten-fold Income Increase... 1000000 ere! 750000 rts h Licence Income a nt st 500000 rime 250000 Expe 0 2004/5 2005/6 2006/07 2008/09 2009/10 2010/11 20011/12 With reduced cost base...
  • 100. A New Game - New Rules... Knowledge Transfer 2.0 Getting more from less
  • 101.
  • 102. Openness Accelerates Innovation & improves selection
  • 103. Openness Accelerates Innovation & improves selection Collaboration Provides Scalability & Reduces risk
  • 104. Openness Accelerates Innovation & improves selection Collaboration Provides Scalability & Reduces risk
  • 105. Openness Accelerates Innovation & improves selection Collaboration Provides Scalability & Reduces risk Building a Platform is Critical to Facilitating this
  • 106. ... and to speed and scale ‘Impact’ and IP flow!

Editor's Notes

  1. \n
  2. \n
  3. \n
  4. \n
  5. \n
  6. \n
  7. \n
  8. \nNot only corporates that can benefit from the Innovation Division of Labour\nUniversities (and KTs not fully exploiting this yet!! LINK to project focus!!\n
  9. He wound up at an MIT conference for young pres- idents when coincidentally the subject of Linux came up. Perched in the lec- ture hall, McEwen listened intently to the remarkable story of how Linus Torvalds and a loose volunteer brigade of software developers had assembled the world-class computer operating system over the Internet. The lecturer explained how Torvalds revealed his code to the world, allowing thousands of anonymous programmers to vet it and make contributions of their own.\nMcEwen had an epiphany and sat back in his chair to contemplate. If Goldcorp employees couldn’t find the Red Lake gold, maybe someone else could. And maybe the key to finding those people was to open up the ex- ploration process in the same way Torvalds “open sourced” Linux.\nMcEwen raced back to Toronto to present the idea to his head geolo- gist. “I’d like to take all of our geology, all the data we have that goes back to 1948, and put it into a file and share it with the world,” he said. “Then we’ll ask the world to tell us where we’re going to find the next six million ounces of gold.” McEwen saw this as an opportunity to harness some of the best minds in the industry. Perhaps understandably, the in-house geol- ogists were just a little skeptical.\nMining is an intensely secretive industry, and apart from the minerals themselves, geological data is the most precious and carefully guarded re- source. It’s like the Cadbury secret—it’s just not something companies go around sharing. Goldcorp employees wondered whether the global com- munity of geologists would respond to Goldcorp’s call in the same way that software developers rallied around Linus Torvalds. Moreover, they worried about how the contest would reflect on them and their inability to find the illusive gold deposits.\nMcEwen acknowledges in retrospect that the strategy was controversial and risky.\n\nThe contestants had identified 110 targets on the Red Lake property, 50 percent of which had not been previously identified by the company. Over 80 percent of the new targets yielded substantial quantities of gold. In fact, since the challenge was initiated an astounding eight million ounces of gold have been found. McEwen estimates the collaborative process shaved two to three years off their exploration time.\n\nBut with 55,000 acres, nobody at Goldcorp could figure out where to look for the buried treasure. To avert a wild goose chase, McEwan shared on the Web Goldcorp's geological data going back to 1948 and offered $575,000 in prizes to those who could come up with the best way to find and extract the gold.\nParticipants in the contest found 55 drilling targets Goldcorp had not identified. Eighty percent hit pay dirt. "In fact, since the challenge was initiated, an astounding eight million ounces of gold have been found" and in four years Goldcorp's cost of production dropped 600%.\n\n
  10. He wound up at an MIT conference for young pres- idents when coincidentally the subject of Linux came up. Perched in the lec- ture hall, McEwen listened intently to the remarkable story of how Linus Torvalds and a loose volunteer brigade of software developers had assembled the world-class computer operating system over the Internet. The lecturer explained how Torvalds revealed his code to the world, allowing thousands of anonymous programmers to vet it and make contributions of their own.\nMcEwen had an epiphany and sat back in his chair to contemplate. If Goldcorp employees couldn’t find the Red Lake gold, maybe someone else could. And maybe the key to finding those people was to open up the ex- ploration process in the same way Torvalds “open sourced” Linux.\nMcEwen raced back to Toronto to present the idea to his head geolo- gist. “I’d like to take all of our geology, all the data we have that goes back to 1948, and put it into a file and share it with the world,” he said. “Then we’ll ask the world to tell us where we’re going to find the next six million ounces of gold.” McEwen saw this as an opportunity to harness some of the best minds in the industry. Perhaps understandably, the in-house geol- ogists were just a little skeptical.\nMining is an intensely secretive industry, and apart from the minerals themselves, geological data is the most precious and carefully guarded re- source. It’s like the Cadbury secret—it’s just not something companies go around sharing. Goldcorp employees wondered whether the global com- munity of geologists would respond to Goldcorp’s call in the same way that software developers rallied around Linus Torvalds. Moreover, they worried about how the contest would reflect on them and their inability to find the illusive gold deposits.\nMcEwen acknowledges in retrospect that the strategy was controversial and risky.\n\nThe contestants had identified 110 targets on the Red Lake property, 50 percent of which had not been previously identified by the company. Over 80 percent of the new targets yielded substantial quantities of gold. In fact, since the challenge was initiated an astounding eight million ounces of gold have been found. McEwen estimates the collaborative process shaved two to three years off their exploration time.\n\nBut with 55,000 acres, nobody at Goldcorp could figure out where to look for the buried treasure. To avert a wild goose chase, McEwan shared on the Web Goldcorp's geological data going back to 1948 and offered $575,000 in prizes to those who could come up with the best way to find and extract the gold.\nParticipants in the contest found 55 drilling targets Goldcorp had not identified. Eighty percent hit pay dirt. "In fact, since the challenge was initiated, an astounding eight million ounces of gold have been found" and in four years Goldcorp's cost of production dropped 600%.\n\n
  11. He wound up at an MIT conference for young pres- idents when coincidentally the subject of Linux came up. Perched in the lec- ture hall, McEwen listened intently to the remarkable story of how Linus Torvalds and a loose volunteer brigade of software developers had assembled the world-class computer operating system over the Internet. The lecturer explained how Torvalds revealed his code to the world, allowing thousands of anonymous programmers to vet it and make contributions of their own.\nMcEwen had an epiphany and sat back in his chair to contemplate. If Goldcorp employees couldn’t find the Red Lake gold, maybe someone else could. And maybe the key to finding those people was to open up the ex- ploration process in the same way Torvalds “open sourced” Linux.\nMcEwen raced back to Toronto to present the idea to his head geolo- gist. “I’d like to take all of our geology, all the data we have that goes back to 1948, and put it into a file and share it with the world,” he said. “Then we’ll ask the world to tell us where we’re going to find the next six million ounces of gold.” McEwen saw this as an opportunity to harness some of the best minds in the industry. Perhaps understandably, the in-house geol- ogists were just a little skeptical.\nMining is an intensely secretive industry, and apart from the minerals themselves, geological data is the most precious and carefully guarded re- source. It’s like the Cadbury secret—it’s just not something companies go around sharing. Goldcorp employees wondered whether the global com- munity of geologists would respond to Goldcorp’s call in the same way that software developers rallied around Linus Torvalds. Moreover, they worried about how the contest would reflect on them and their inability to find the illusive gold deposits.\nMcEwen acknowledges in retrospect that the strategy was controversial and risky.\n\nThe contestants had identified 110 targets on the Red Lake property, 50 percent of which had not been previously identified by the company. Over 80 percent of the new targets yielded substantial quantities of gold. In fact, since the challenge was initiated an astounding eight million ounces of gold have been found. McEwen estimates the collaborative process shaved two to three years off their exploration time.\n\nBut with 55,000 acres, nobody at Goldcorp could figure out where to look for the buried treasure. To avert a wild goose chase, McEwan shared on the Web Goldcorp's geological data going back to 1948 and offered $575,000 in prizes to those who could come up with the best way to find and extract the gold.\nParticipants in the contest found 55 drilling targets Goldcorp had not identified. Eighty percent hit pay dirt. "In fact, since the challenge was initiated, an astounding eight million ounces of gold have been found" and in four years Goldcorp's cost of production dropped 600%.\n\n
  12. \n
  13. SEE http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=413162\n\nAND\n\nhttp://www.guardian.co.uk/science/video/2010/aug/04/gameculture-crowdsourcing\n
  14. SEE http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=413162\n\nAND\n\nhttp://www.guardian.co.uk/science/video/2010/aug/04/gameculture-crowdsourcing\n
  15. SEE http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=413162\n\nAND\n\nhttp://www.guardian.co.uk/science/video/2010/aug/04/gameculture-crowdsourcing\n
  16. SEE http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=413162\n\nAND\n\nhttp://www.guardian.co.uk/science/video/2010/aug/04/gameculture-crowdsourcing\n
  17. SEE http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=413162\n\nAND\n\nhttp://www.guardian.co.uk/science/video/2010/aug/04/gameculture-crowdsourcing\n
  18. SEE http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=413162\n\nAND\n\nhttp://www.guardian.co.uk/science/video/2010/aug/04/gameculture-crowdsourcing\n
  19. \n
  20. \n
  21. \n
  22. \n
  23. \n
  24. \n
  25. \n
  26. \n
  27. \n
  28. \n
  29. \n
  30. \n
  31. \n
  32. \n
  33. \n
  34. \n
  35. \n
  36. \n
  37. \nAt least for first filter for ideas. Distribute the workload!\nWith a small team evaluating all ideas, the workload can be large. Change that equation. With a large number of participants evaluating a small number of ideas, the work of identifying the most promising ideas is significantly easier, and better.\nThe great thing here is that people will self-select to provide feedback. They naturally weigh in on what interests them.\n
  38. \n
  39. \n
  40. \n
  41. \n
  42. \n
  43. \n
  44. \n
  45. Can EMPLOY them all:\n\nnot matter how big you are you will not have the skill set to cover 4-6K researchers...\n\nNo matter how big you are you will not have the industrial or sector links you need\n\nNo matter how big you are you will not have \n\nWANT to employ them ...\ncoming reduction in public funding ... \nimpact \n\nLinks to the abilityt to give some skin in the game...\n\nInstitutions need people to organise peopel \nthey take on goals other thatn orgingal goals\n\n
  46. Can EMPLOY them all:\n\nnot matter how big you are you will not have the skill set to cover 4-6K researchers...\n\nNo matter how big you are you will not have the industrial or sector links you need\n\nNo matter how big you are you will not have \n\nWANT to employ them ...\ncoming reduction in public funding ... \nimpact \n\nLinks to the abilityt to give some skin in the game...\n\nInstitutions need people to organise peopel \nthey take on goals other thatn orgingal goals\n\n
  47. Can EMPLOY them all:\n\nnot matter how big you are you will not have the skill set to cover 4-6K researchers...\n\nNo matter how big you are you will not have the industrial or sector links you need\n\nNo matter how big you are you will not have \n\nWANT to employ them ...\ncoming reduction in public funding ... \nimpact \n\nLinks to the abilityt to give some skin in the game...\n\nInstitutions need people to organise peopel \nthey take on goals other thatn orgingal goals\n\n
  48. Can EMPLOY them all:\n\nnot matter how big you are you will not have the skill set to cover 4-6K researchers...\n\nNo matter how big you are you will not have the industrial or sector links you need\n\nNo matter how big you are you will not have \n\nWANT to employ them ...\ncoming reduction in public funding ... \nimpact \n\nLinks to the abilityt to give some skin in the game...\n\nInstitutions need people to organise peopel \nthey take on goals other thatn orgingal goals\n\n
  49. Can EMPLOY them all:\n\nnot matter how big you are you will not have the skill set to cover 4-6K researchers...\n\nNo matter how big you are you will not have the industrial or sector links you need\n\nNo matter how big you are you will not have \n\nWANT to employ them ...\ncoming reduction in public funding ... \nimpact \n\nLinks to the abilityt to give some skin in the game...\n\nInstitutions need people to organise peopel \nthey take on goals other thatn orgingal goals\n\n
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  54. At very least, other forms of financing - angel investing, bootstrapping, or using public grants - will become all the more crucial to the financing of early ventures. Or some more complex mix of all. Studies show that Angel funds in the US are not far below traditional venture capital.\n\n
  55. At very least, other forms of financing - angel investing, bootstrapping, or using public grants - will become all the more crucial to the financing of early ventures. Or some more complex mix of all. Studies show that Angel funds in the US are not far below traditional venture capital.\n\n
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  78. External had:\nproduct dev and regulatory expertise\nNew the dental market\nHad access to investor networks\n
  79. External had:\nproduct dev and regulatory expertise\nNew the dental market\nHad access to investor networks\n
  80. External had:\nproduct dev and regulatory expertise\nNew the dental market\nHad access to investor networks\n
  81. External had:\nproduct dev and regulatory expertise\nNew the dental market\nHad access to investor networks\n
  82. External had:\nproduct dev and regulatory expertise\nNew the dental market\nHad access to investor networks\n
  83. External had:\nproduct dev and regulatory expertise\nNew the dental market\nHad access to investor networks\n
  84. External had:\nproduct dev and regulatory expertise\nNew the dental market\nHad access to investor networks\n
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