Friday, May 28, 2010
InnovateMatch.com
We just launched our new "University Startup Opportunity" wiki site, www.innovatematch.com. The site contains information on the technologies from our client universities that we think could be the basis of a startup company. Registered users can add comments to most of the pages. The site also contains some articles and case studies on tech transfer startup successes. On one hand the site is not a big deal - it just makes it easier for us to share information with entrepreneurs. One the other hand it is a key tool to our entreperneur/university tech match process, which is becoming a big deal. We have seven startups coming out of this process so far, and will soon have more than 12 university clients! So try out the new site and give me your feedback. With your support we can make a big impact on the tech transfer world with benefits to everyone - universities, entrepreneurs, investors and the public.
Monday, January 4, 2010
HBR Ten Breakthrough Ideas
There is considerable buzz in the technology transfer community over the Harvard Business Review article "Ten Breakthrough Ideas for 2010" published January 1st. The article includes the Kauffman Foundation's solution for technology transfer reform in the list of 10 ideas. The solution calls for an "open, competitive licensing system for university innovators", allowing inventors to choose not to work with their university technology transfer office. (I spoke on a panel with Robert Litan, one of the key Kauffman authors, this fall.)
To someone like myself, who has worked in this space for more than a decade, this is a well intentioned concept without a practical means of implementation. It reminds me of when I flew helicopters and some non-aviator would tell me "what you guys really need are ejection seats". Interesting idea, but impractical (and in fact it has been tried) for a number or reasons which are obvious to someone who practices the craft every day.
The Kauffman solution is a helicopter ejection seat. Interesting idea, that could work if a number of challenging issues were addressed first - including how to deal with upfront patent cost, and how to ensure technologies were marketed (most inventors would not put effort into that), and how to ensure inventors made competent, reasonable contracts with their selected licensing agent (most inventors are completely inexperienced at this).
I'm not saying my peers or myself are opposed to change and innovation - in fact I can argue that InnovateTech is bringing an innovative approach to the technology transfer market. But the innovative concepts need to be practical and well thought out. And it would probably make sense to work closely with practitioners when do so.
To someone like myself, who has worked in this space for more than a decade, this is a well intentioned concept without a practical means of implementation. It reminds me of when I flew helicopters and some non-aviator would tell me "what you guys really need are ejection seats". Interesting idea, but impractical (and in fact it has been tried) for a number or reasons which are obvious to someone who practices the craft every day.
The Kauffman solution is a helicopter ejection seat. Interesting idea, that could work if a number of challenging issues were addressed first - including how to deal with upfront patent cost, and how to ensure technologies were marketed (most inventors would not put effort into that), and how to ensure inventors made competent, reasonable contracts with their selected licensing agent (most inventors are completely inexperienced at this).
I'm not saying my peers or myself are opposed to change and innovation - in fact I can argue that InnovateTech is bringing an innovative approach to the technology transfer market. But the innovative concepts need to be practical and well thought out. And it would probably make sense to work closely with practitioners when do so.
Tuesday, October 27, 2009
Trilumen Launch
We recently announced the launch of Trilumen, and the execution of a license from Johns Hopkins University's Applied Physics Lab for a 3D scanning technology. I'm excited about the technology and our partnership with Direct Dimensions in Maryland - and industry leader in the 3D scanning market.
As we craft and execute the Trilumen business plan, I'm once again seeing how important it is to develop an innovative business model around a licensed technology. The technology is critical and requires tremendous innovation, but as with many technology transfer deals, the university has already done years of hard work on technology innovation.
But now, I believe our business model will determine if the company is successful, and how successful it is. And, for me, working with my partners to come up with an "this could be really big" business model is the fun part. And it may even pay off someday! The next step - executing the model!
As we craft and execute the Trilumen business plan, I'm once again seeing how important it is to develop an innovative business model around a licensed technology. The technology is critical and requires tremendous innovation, but as with many technology transfer deals, the university has already done years of hard work on technology innovation.
But now, I believe our business model will determine if the company is successful, and how successful it is. And, for me, working with my partners to come up with an "this could be really big" business model is the fun part. And it may even pay off someday! The next step - executing the model!
Thursday, September 24, 2009
Coming Out of Hibernation
Since the summer vacation season ended I have had a lot of referrals and calls from cashed out entrepreneurs who are looking for their next startup project. It's hard to say if it is just due to the time of year and word getting out about our Entrepreneur Match program, or if it is something else. But many of these entrepreneurs tell me they have been "on the sidelines" for a year or more. Apparently they feel that this is the time to get back in the game.
Ok, it may seem obvious that the economy is probably at the bottom and now is a good time to start a business. A lot of media pundits are saying that. But I don't always have a lot of confidence in what the pundits say. These entrepreneurs have all built and sold companies, created jobs and created wealth. They are real experts, and the kind of people who really are going to turn this economy around. If they think it is time to get back in the game, I have a much higher level of confidence that a true recover is coming!
Ok, it may seem obvious that the economy is probably at the bottom and now is a good time to start a business. A lot of media pundits are saying that. But I don't always have a lot of confidence in what the pundits say. These entrepreneurs have all built and sold companies, created jobs and created wealth. They are real experts, and the kind of people who really are going to turn this economy around. If they think it is time to get back in the game, I have a much higher level of confidence that a true recover is coming!
Friday, August 28, 2009
Starting a Blog
It's hard to believe we are approaching the 2nd anniversary of the start of InnovateTech Ventures. It has been an exciting, fun (at times, challenging) two years and I've very proud of all that we accomplished.
We set out to introduce a new model to the university tech transfer community - working with universities throughout the nation to create tech transfer start ups with highly experienced management teams. Some will argue that this is not a new model (some VC firms do this, big universities like MIT do it in house etc.), but we are bringing new innovations to the process and have created a national, scalable model. In later blogs I'll talk about some of the success we are having, and how the model is evolving.
One goal, going into our third year, is to communicate more broadly with our market and stakeholders. Hence this Blog. We'll also be starting an e-mail newsletter and other communication efforts. Let me know if you have any suggestions.
We set out to introduce a new model to the university tech transfer community - working with universities throughout the nation to create tech transfer start ups with highly experienced management teams. Some will argue that this is not a new model (some VC firms do this, big universities like MIT do it in house etc.), but we are bringing new innovations to the process and have created a national, scalable model. In later blogs I'll talk about some of the success we are having, and how the model is evolving.
One goal, going into our third year, is to communicate more broadly with our market and stakeholders. Hence this Blog. We'll also be starting an e-mail newsletter and other communication efforts. Let me know if you have any suggestions.
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