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Testimony before the European Parliament
        Observations on EU Innovation Policy

                                  Mini Hearing:
 Innovation Union – Transforming Europe for a Post-Crisis World

          Industry, Research and Energy (ITRE) Committee

                            Dr. Burton H. Lee PhD MBA
     Lecturer, European Entrepreneurship & Innovation, Stanford School of Engineering
                 Managing Director, Innovarium Ventures | Silicon Valley, CA
                               Burton.Lee@innovarium.net

                                  Brussels, Belgium
                                  February 10 2011
The opinions presented herein are those of the
   speaker alone, and do not represent official
   policies or statements of Stanford University




February 10 2011   Copyright 2011 Burton H. Lee and Innovarium Ventures   2
Topics

•    Professional Background
•    Connecting Europe to Silicon Valley
•    Commercialization of FP Research Outcomes
•    Financing Innovation
•    Other Issues that Deserve Attention



February 10 2011   Copyright 2011 Burton H. Lee and Innovarium Ventures   3
Professional Experience
      European and US Innovation Policy
•    Lecturer in European Entrepreneurship & Innovation, Stanford Engineering School
•    FP7 Expert Evaluator
      – FP7 Space evaluations (2nd year)
•    Cooperation projects with European Commission @ Silicon Valley
      – DG ENTR “Innovation Bridges” conference, May 2010
•    Irish National Innovation Taskforce, Dublin, Ireland
      – June 2009 – March 2010
•    Recent Talks on Innovation Policy
      – Office of the Prime Minister, Tallinn, Estonia
      – National Research & Innovation Council - Helsinki, Finland
      – Agency for Science, Technology & Innovation - Copenhagen, Denmark
•    Recent Professional Engagements
      – Denmark’s Central “Midt” Regional Authority – innovation ecosystem assessment
      – Angel Investor Training Workshop, Finland
•    University: University of Munich (LMU)
•    SBIR Program Reviewer (Small Business Innovative Research)
      – National Science Foundation (NSF)
      – National Institutes of Health (NIH)
•    Innovation Policy Advisor, Gov. Bill Richardson, Presidential Campaign (2008)
February 10 2011               Copyright 2011 Burton H. Lee and Innovarium Ventures     4
http://www.europeanentrepreneursatstanford.com
February 10 2011              http://me421.stanford.edu             5
European Partner Countries, Regions & Companies
   Speakers in Stanford Engineering ME421 Graduate Course

                     2009 - 2010 - 2011
Connecting Europe to Silicon Valley
What is Silicon Valley, Precisely ??
                    • 2.9 Mn inhabitants
                    • 4 Counties, 40
                      municipalities
                    • 1.3 Mn jobs
                    • Growth areas:
                       –   Industrial/Energy
                       –   Media & Entertainment
                       –   Biotechnology
                       –   Medical Devices
                    • 40% of US Venture Capital
                      investment in 2010

January 17 2011
Silicon Valley
                Global Center for Innovation
                                                                           We lead the world in
                                                                           innovation finance, new
                                               Europe                      innovation models, disruptive
                                                                           ideas, and rapid scaling of
                                                                           technologies and companies
                                                                           to a global level.


                                                Silicon
                    India                                                          China
                                                Valley


The world – countries,
regions, cities, universities and
                                                                                      And they all come to
companies – all come to
                                                Latin                                 Stanford to see how
Silicon Valley to learn new
                                               America                                we do it
innovation models, new
technologies and new ideas.
 February 10 2011           Copyright 2011 Burton H. Lee and Innovarium Ventures                      9
What We Do in Silicon Valley
• We build and grow companies to a global level faster –
  and more efficiently – than anywhere else in the world
• We create more new jobs and industries – faster – than
  anywhere globally
• We look for disruptive ideas, technologies and
  intellectual property that can be scaled globally
• We do world class research and technology
  development

• Silicon Valley is where the World Learns First new
  approaches to innovation
      – And where China, Japan, Korea, Singapore and India come to learn
February 10 2011         Copyright 2011 Burton H. Lee and Innovarium Ventures   10
Silicon Valley
                   Global Center for Innovation
• Silicon Valley is a Strategic Region for Europe
      – Part of the European Innovation Ecosystem
             • Large expat community
      – Major center of European govt operations
             • Ireland, Finland, Denmark, UK, Norway, Estonia, Czech Republic,
               Netherlands, selected regions
      – Major center of European technology activity
             • European entrepreneurs and VCs - in large numbers
             • European enterprises - major multinationals
                    – Orange, Siemens, Daimler, Bosch, BMW, SAP, Nokia, Roche, etc
• Most European countries and regions, however, are
  insufficiently engaged in Silicon Valley
      – Companies – particularly mid-sized firms
      – Universities – with a few notable exceptions
      – Research Institutes
February 10 2011                 Copyright 2011 Burton H. Lee and Innovarium Ventures   11
Silicon Valley & European Innovation Ecosystems
                                 Key Differences
• Culture
     –   Attitudes towards risk and failure
     –   Attitudes towards work vs play vs private life
     –   Attitudes towards sharing of information
     –   Asking permission before acting vs looking to government for thought leadership
     –   Optimism vs skepticism
     –   Openness vs Closed
• Speed
     – Processes and decisions much faster in Silicon Valley
• Government role
     – Minimal intervention from federal, state and local governments
• Institutions
     – Broader diversity of institutional models and sizes in US; more flexibility of action
• Markets
     – Lower transaction costs, greater liquidity, larger, more markets
• Scale, Size and Critical Mass
• Networks
     – Strong hubs, dense and efficient messaging, global, rapid formation
 January 17 2011
Why Silicon Valley
                  is Important for Europe
• Quicker scale-up and globalization of new companies
      – Venture capital, talent, customers, markets
• Customers and markets for existing indigenous companies
• Access to latest technology in most domains
• Thought leadership at a global scale often starts here
• Training of European scientists, entrepreneurs, investors
  and executives
• Alternative university innovation models and practices
• Hub of the global business network
• Close ties to Asia
      – China, Singapore, Korea, India, Japan
• Importance of Silicon Valley is increasing
      – New EU regions coming to Silicon Valley on a regular basis
January 17 2011
Major Recommendations
• EU Innovation and Research Strategy should
  consider how to directly engage with Silicon
  Valley

• Europe is not on par with China, India and
  Japan in its engagement with Silicon Valley
  institutions
      – The EU is falling behind in the global innovation
        race

February 10 2011       Copyright 2011 Burton H. Lee and Innovarium Ventures   14
Commercializing FP Research Outcomes
Commercialization of FP Research
• Major disconnects between research and commercialization exist today
      – A broad framework for coupling research and commercialization of related IPR is
        needed if Europe is to achieve its job creation goals for 2020
      – Without explicit connection between research & commercialization, European
        Union will lose the opportunity to create thousands of new jobs on a sustained
        basis
      – Commercialization is not possible in many FP7 projects (due to nature of basic
        research), but is possible in projects that are closer to industrial application
      – Absence of formal linkages demonstrates lack of understanding of research, and
        the low value given to research programs and outcomes
      – Apparent ideological opposition to linking research and commercialization in
        academic and policy-making communities seems rooted in attitudes that “public
        monies should not generate private returns”, & “universities must remain pure”
      – Little or no coupling of research program performance assessment with program
        outcomes

• EU research programs (FP7, etc) must have clearly defined connections,
  routes and steps to commercialization paths, where appropriate
      – Coaching and mentoring
      – Investors: angels, VCs
      – Incubators
February 10 2011            Copyright 2011 Burton H. Lee and Innovarium Ventures    16
An FP Commercialization Framework is Needed
Paths from Research to Marketplace Introduction
                                                  These Stages Currently Not In Place
                                                    within EU Research Framework



                   Research            Productization                  Market Introduction

                “Basic” &            From Laboratory                    Startup Companies
             Pre-Competitive            Concept to
                                        Prototype                         Established Firms
                   FP8/FP7            Demonstration
                                     [ Not always possible with
                                         FP8/FP7 Projects ]




February 10 2011               Copyright 2011 Burton H. Lee and Innovarium Ventures           17
Example Steps to Bring Commercial
     Objectives in FP Research Programs
• FP8/FP7 Recommendations
      – Call criteria and documentation
             • Include “commercial potential” as a formal criterion to be considered
             • May not apply to all FP project areas – should not discourage basic research with no clear
               commercial outcomes
      – Expert Evaluator directions
             • Include “commercial potential”
      – Expert Evaluator selection
             • Broaden selection panels to include industry experts:
                   – Angels, VCs, tech transfer, entrepreneurs, enterprise managers
      – Improved Visibility of FP Project Outcomes
             • Central repository/database that is open to the public
                   – FP-generated Intellectual Property: patents, licensing opportunities, know how
                   – Other FP-related documentation and information
             • Tracking of FP outcomes (within reason)
                   –   IPR generated                                 Caveat: FP7/FP8 are complex programs, with
                   –   Companies started                             substantial differences across the various FP
                   –   Revenues/sales generated                      topic areas. This proposal deserves careful study
                   –   Private investment raised                     and extensive consultations with stakeholders
                   –   Jobs created                                  prior to rollout.

February 10 2011                   Copyright 2011 Burton H. Lee and Innovarium Ventures                          18
Commercialization of FP Research
            An Initial Test Case?
• FP7 Space and European Space Agency
      – Early and “easy” test case of FP commercialization?
      – ESA Innovation Ecosystem
             • Incubators
             • Angel Investors – EBAN Relationship
             • Venture Capital
                   – Open Skies Technology Fund
      – Link FP7 Space to ESA Network

• SBIR (Small Business Innovative Research)
      – US model for rapid commercialization of research-
        derived IPR into small companies

February 10 2011             Copyright 2011 Burton H. Lee and Innovarium Ventures   19
Financing Innovation
• Angel Investing
      – Incentives to seed stage investment in technology startups
      – European Business Angel Network (EBAN) trade association policy
        recommendations have broad merit

• Venture Capital
      – Incentives to capital formation are needed
      – European Venture Capital Association (EVCA) policy recommendations
        deserve serious scrutiny by European Union institutions

• Innovation Incentive Prizes
      – Extensively used by US govt agencies to accelerate breakthroughs in
        key technologies
             • NASA, NSF, DARPA, White House
      – European Innovation Incentive Prizes Foundation
             • Model after US X-Prize Foundation?

February 10 2011              Copyright 2011 Burton H. Lee and Innovarium Ventures   20
EU Innovation Policy
          Other Issues that Deserve Attention
•    Product design teaching and research programs in engineering and medical schools
      – Elevate status of product design to formal engineering discipline & domain
      – Not taken seriously in many European universities and companies
             •     Exceptions: Germany, Netherlands, Denmark, Sweden, Finland, UK

•    Provide financial support to Student Entrepreneurship Societies at top 100
     universities in Europe
      – Develop stronger innovation stakeholder communities inside universities

•    University reform
      – Current university models are major bottleneck to innovation in Europe
      – Accelerated shift to innovation-centric models is needed
      – Generally is ignored as part of innovation policy, currently outside EU purview

•    EU Innovation Center in Silicon Valley
      – Support for Internationalization of European SME’s (DG ENTR)
      – Long term base for understanding Silicon Valley innovation ecosystem, & developing
        relationships with other US and Asian clusters

•    Studies that are needed
      – Silicon Valley impact on job creation in Europe
      – Impact of ICT utilization and social media use & firm valuations/performance

February 10 2011                     Copyright 2011 Burton H. Lee and Innovarium Ventures    21
Follow On Reading/Inquiries
 Irish Innovation Taskforce Final Report
• Complete text of Final Report
  available online:
    – http://www.taoiseach.gov.ie/eng/Inno
      vation_Taskforce/


• European Entrepreneurship &
  Innovation @ Stanford
    – http://me421.stanford.edu

February 10 2011     Copyright Burton H. Lee/Innovarium Ventures 2010   22
Working in Silicon Valley, Europe, Latin America and Washington DC
•   Senior financial, technical and strategy advisory services for global technology innovation organizations
•   Professional Services
      –   Technology startup and growth companies
             •   Interim CXO and Advisory Board roles
             •   Expert guidance & decision-making at the interface between market/customers, technology and finance
             •   Business development – industrial and government
             •   Business plan preparation/research/review; Government Grant proposal preparation/review
             •   Coaching and mentoring of CEOs and other CXO-level managers
             •   Assistance with government regulatory and policy agencies
      –   Angel, venture capital and private equity Investors
             •   Fund strategy, team selection and market positioning
             •   Due diligence: technical, financial, strategy and business models
      –   Public and non-profit R&D laboratories
             •   Technology transfer & partnerships; venturing and spin-out of companies; strategy and business development; grant applications
      –   Research universities
             •   Innovation-related models, policies and practices
             •   Technology transfer and licensing; industry partnerships and relations; development and strategy; grant applications
      –   National and regional government agencies
             •   Innovation policy formulation, analysis and review; cluster development strategy; economic impact studies
             •   Science & technology policy formulation, analysis & review: space, aviation, nanotechnology, software/AI/robotics, manufacturing
•   Selected recent clients
      –   US/European technology startup companies – alternative energy, robotics/AI, software, Internet, nanotech
      –   Venture and private equity funds – aerospace, nanotechnology, ICT, computing, advanced materials, clean tech
      –   Office of the Prime Minister, Ireland; European Commission; National Science Foundation; NASA, National Academies
•   Dr. Burton Lee PhD MBA, Managing Director
      –   Contact: Burton.Lee@innovarium.net                    Based in Palo Alto, CA near Stanford University
      –   Bio/References: LinkedIn Profile
      –   Lecturer, European Entrepreneurship & Innovation, Stanford School of Engineering
    February 10 2011                          Copyright 2010 Burton H. Lee and Innovarium Ventures                                         23
• Thank You !!

• Dr. Burton H. Lee PhD MBA
      – Burton.Lee@stanford.edu

      – http://me421.stanford.edu




February 10 2011   Copyright 2011 Burton H. Lee and Innovarium Ventures   24

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Testimony to European Parliament - Burton Lee - Brussels - Feb 10 2011 - Final

  • 1. Testimony before the European Parliament Observations on EU Innovation Policy Mini Hearing: Innovation Union – Transforming Europe for a Post-Crisis World Industry, Research and Energy (ITRE) Committee Dr. Burton H. Lee PhD MBA Lecturer, European Entrepreneurship & Innovation, Stanford School of Engineering Managing Director, Innovarium Ventures | Silicon Valley, CA Burton.Lee@innovarium.net Brussels, Belgium February 10 2011
  • 2. The opinions presented herein are those of the speaker alone, and do not represent official policies or statements of Stanford University February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 2
  • 3. Topics • Professional Background • Connecting Europe to Silicon Valley • Commercialization of FP Research Outcomes • Financing Innovation • Other Issues that Deserve Attention February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 3
  • 4. Professional Experience European and US Innovation Policy • Lecturer in European Entrepreneurship & Innovation, Stanford Engineering School • FP7 Expert Evaluator – FP7 Space evaluations (2nd year) • Cooperation projects with European Commission @ Silicon Valley – DG ENTR “Innovation Bridges” conference, May 2010 • Irish National Innovation Taskforce, Dublin, Ireland – June 2009 – March 2010 • Recent Talks on Innovation Policy – Office of the Prime Minister, Tallinn, Estonia – National Research & Innovation Council - Helsinki, Finland – Agency for Science, Technology & Innovation - Copenhagen, Denmark • Recent Professional Engagements – Denmark’s Central “Midt” Regional Authority – innovation ecosystem assessment – Angel Investor Training Workshop, Finland • University: University of Munich (LMU) • SBIR Program Reviewer (Small Business Innovative Research) – National Science Foundation (NSF) – National Institutes of Health (NIH) • Innovation Policy Advisor, Gov. Bill Richardson, Presidential Campaign (2008) February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 4
  • 6. European Partner Countries, Regions & Companies Speakers in Stanford Engineering ME421 Graduate Course 2009 - 2010 - 2011
  • 7. Connecting Europe to Silicon Valley
  • 8. What is Silicon Valley, Precisely ?? • 2.9 Mn inhabitants • 4 Counties, 40 municipalities • 1.3 Mn jobs • Growth areas: – Industrial/Energy – Media & Entertainment – Biotechnology – Medical Devices • 40% of US Venture Capital investment in 2010 January 17 2011
  • 9. Silicon Valley Global Center for Innovation We lead the world in innovation finance, new Europe innovation models, disruptive ideas, and rapid scaling of technologies and companies to a global level. Silicon India China Valley The world – countries, regions, cities, universities and And they all come to companies – all come to Latin Stanford to see how Silicon Valley to learn new America we do it innovation models, new technologies and new ideas. February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 9
  • 10. What We Do in Silicon Valley • We build and grow companies to a global level faster – and more efficiently – than anywhere else in the world • We create more new jobs and industries – faster – than anywhere globally • We look for disruptive ideas, technologies and intellectual property that can be scaled globally • We do world class research and technology development • Silicon Valley is where the World Learns First new approaches to innovation – And where China, Japan, Korea, Singapore and India come to learn February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 10
  • 11. Silicon Valley Global Center for Innovation • Silicon Valley is a Strategic Region for Europe – Part of the European Innovation Ecosystem • Large expat community – Major center of European govt operations • Ireland, Finland, Denmark, UK, Norway, Estonia, Czech Republic, Netherlands, selected regions – Major center of European technology activity • European entrepreneurs and VCs - in large numbers • European enterprises - major multinationals – Orange, Siemens, Daimler, Bosch, BMW, SAP, Nokia, Roche, etc • Most European countries and regions, however, are insufficiently engaged in Silicon Valley – Companies – particularly mid-sized firms – Universities – with a few notable exceptions – Research Institutes February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 11
  • 12. Silicon Valley & European Innovation Ecosystems Key Differences • Culture – Attitudes towards risk and failure – Attitudes towards work vs play vs private life – Attitudes towards sharing of information – Asking permission before acting vs looking to government for thought leadership – Optimism vs skepticism – Openness vs Closed • Speed – Processes and decisions much faster in Silicon Valley • Government role – Minimal intervention from federal, state and local governments • Institutions – Broader diversity of institutional models and sizes in US; more flexibility of action • Markets – Lower transaction costs, greater liquidity, larger, more markets • Scale, Size and Critical Mass • Networks – Strong hubs, dense and efficient messaging, global, rapid formation January 17 2011
  • 13. Why Silicon Valley is Important for Europe • Quicker scale-up and globalization of new companies – Venture capital, talent, customers, markets • Customers and markets for existing indigenous companies • Access to latest technology in most domains • Thought leadership at a global scale often starts here • Training of European scientists, entrepreneurs, investors and executives • Alternative university innovation models and practices • Hub of the global business network • Close ties to Asia – China, Singapore, Korea, India, Japan • Importance of Silicon Valley is increasing – New EU regions coming to Silicon Valley on a regular basis January 17 2011
  • 14. Major Recommendations • EU Innovation and Research Strategy should consider how to directly engage with Silicon Valley • Europe is not on par with China, India and Japan in its engagement with Silicon Valley institutions – The EU is falling behind in the global innovation race February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 14
  • 16. Commercialization of FP Research • Major disconnects between research and commercialization exist today – A broad framework for coupling research and commercialization of related IPR is needed if Europe is to achieve its job creation goals for 2020 – Without explicit connection between research & commercialization, European Union will lose the opportunity to create thousands of new jobs on a sustained basis – Commercialization is not possible in many FP7 projects (due to nature of basic research), but is possible in projects that are closer to industrial application – Absence of formal linkages demonstrates lack of understanding of research, and the low value given to research programs and outcomes – Apparent ideological opposition to linking research and commercialization in academic and policy-making communities seems rooted in attitudes that “public monies should not generate private returns”, & “universities must remain pure” – Little or no coupling of research program performance assessment with program outcomes • EU research programs (FP7, etc) must have clearly defined connections, routes and steps to commercialization paths, where appropriate – Coaching and mentoring – Investors: angels, VCs – Incubators February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 16
  • 17. An FP Commercialization Framework is Needed Paths from Research to Marketplace Introduction These Stages Currently Not In Place within EU Research Framework Research Productization Market Introduction “Basic” & From Laboratory Startup Companies Pre-Competitive Concept to Prototype Established Firms FP8/FP7 Demonstration [ Not always possible with FP8/FP7 Projects ] February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 17
  • 18. Example Steps to Bring Commercial Objectives in FP Research Programs • FP8/FP7 Recommendations – Call criteria and documentation • Include “commercial potential” as a formal criterion to be considered • May not apply to all FP project areas – should not discourage basic research with no clear commercial outcomes – Expert Evaluator directions • Include “commercial potential” – Expert Evaluator selection • Broaden selection panels to include industry experts: – Angels, VCs, tech transfer, entrepreneurs, enterprise managers – Improved Visibility of FP Project Outcomes • Central repository/database that is open to the public – FP-generated Intellectual Property: patents, licensing opportunities, know how – Other FP-related documentation and information • Tracking of FP outcomes (within reason) – IPR generated Caveat: FP7/FP8 are complex programs, with – Companies started substantial differences across the various FP – Revenues/sales generated topic areas. This proposal deserves careful study – Private investment raised and extensive consultations with stakeholders – Jobs created prior to rollout. February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 18
  • 19. Commercialization of FP Research An Initial Test Case? • FP7 Space and European Space Agency – Early and “easy” test case of FP commercialization? – ESA Innovation Ecosystem • Incubators • Angel Investors – EBAN Relationship • Venture Capital – Open Skies Technology Fund – Link FP7 Space to ESA Network • SBIR (Small Business Innovative Research) – US model for rapid commercialization of research- derived IPR into small companies February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 19
  • 20. Financing Innovation • Angel Investing – Incentives to seed stage investment in technology startups – European Business Angel Network (EBAN) trade association policy recommendations have broad merit • Venture Capital – Incentives to capital formation are needed – European Venture Capital Association (EVCA) policy recommendations deserve serious scrutiny by European Union institutions • Innovation Incentive Prizes – Extensively used by US govt agencies to accelerate breakthroughs in key technologies • NASA, NSF, DARPA, White House – European Innovation Incentive Prizes Foundation • Model after US X-Prize Foundation? February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 20
  • 21. EU Innovation Policy Other Issues that Deserve Attention • Product design teaching and research programs in engineering and medical schools – Elevate status of product design to formal engineering discipline & domain – Not taken seriously in many European universities and companies • Exceptions: Germany, Netherlands, Denmark, Sweden, Finland, UK • Provide financial support to Student Entrepreneurship Societies at top 100 universities in Europe – Develop stronger innovation stakeholder communities inside universities • University reform – Current university models are major bottleneck to innovation in Europe – Accelerated shift to innovation-centric models is needed – Generally is ignored as part of innovation policy, currently outside EU purview • EU Innovation Center in Silicon Valley – Support for Internationalization of European SME’s (DG ENTR) – Long term base for understanding Silicon Valley innovation ecosystem, & developing relationships with other US and Asian clusters • Studies that are needed – Silicon Valley impact on job creation in Europe – Impact of ICT utilization and social media use & firm valuations/performance February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 21
  • 22. Follow On Reading/Inquiries Irish Innovation Taskforce Final Report • Complete text of Final Report available online: – http://www.taoiseach.gov.ie/eng/Inno vation_Taskforce/ • European Entrepreneurship & Innovation @ Stanford – http://me421.stanford.edu February 10 2011 Copyright Burton H. Lee/Innovarium Ventures 2010 22
  • 23. Working in Silicon Valley, Europe, Latin America and Washington DC • Senior financial, technical and strategy advisory services for global technology innovation organizations • Professional Services – Technology startup and growth companies • Interim CXO and Advisory Board roles • Expert guidance & decision-making at the interface between market/customers, technology and finance • Business development – industrial and government • Business plan preparation/research/review; Government Grant proposal preparation/review • Coaching and mentoring of CEOs and other CXO-level managers • Assistance with government regulatory and policy agencies – Angel, venture capital and private equity Investors • Fund strategy, team selection and market positioning • Due diligence: technical, financial, strategy and business models – Public and non-profit R&D laboratories • Technology transfer & partnerships; venturing and spin-out of companies; strategy and business development; grant applications – Research universities • Innovation-related models, policies and practices • Technology transfer and licensing; industry partnerships and relations; development and strategy; grant applications – National and regional government agencies • Innovation policy formulation, analysis and review; cluster development strategy; economic impact studies • Science & technology policy formulation, analysis & review: space, aviation, nanotechnology, software/AI/robotics, manufacturing • Selected recent clients – US/European technology startup companies – alternative energy, robotics/AI, software, Internet, nanotech – Venture and private equity funds – aerospace, nanotechnology, ICT, computing, advanced materials, clean tech – Office of the Prime Minister, Ireland; European Commission; National Science Foundation; NASA, National Academies • Dr. Burton Lee PhD MBA, Managing Director – Contact: Burton.Lee@innovarium.net Based in Palo Alto, CA near Stanford University – Bio/References: LinkedIn Profile – Lecturer, European Entrepreneurship & Innovation, Stanford School of Engineering February 10 2011 Copyright 2010 Burton H. Lee and Innovarium Ventures 23
  • 24. • Thank You !! • Dr. Burton H. Lee PhD MBA – Burton.Lee@stanford.edu – http://me421.stanford.edu February 10 2011 Copyright 2011 Burton H. Lee and Innovarium Ventures 24