Presentation is loading. Please wait.

Presentation is loading. Please wait.

COMMERCIALIZATION RESOURCES FOR RESEARCH AT UIC UIC Office of Technology Management and IllinoisVENTURES NANCY SULLIVAN CEO & Managing Director, IllinoisVENTURES.

Similar presentations


Presentation on theme: "COMMERCIALIZATION RESOURCES FOR RESEARCH AT UIC UIC Office of Technology Management and IllinoisVENTURES NANCY SULLIVAN CEO & Managing Director, IllinoisVENTURES."— Presentation transcript:

1 COMMERCIALIZATION RESOURCES FOR RESEARCH AT UIC UIC Office of Technology Management and IllinoisVENTURES NANCY SULLIVAN CEO & Managing Director, IllinoisVENTURES Interim Executive Director, UIC Office of Technology Management JEREMY HOLLIS Interim Director, UIC Office of Technology Management

2 Introduction to the OTM The Office of Technology Management (OTM) is responsible for managing the intellectual property generated by research and educational activities at the University of Illinois at Chicago OTM Mission – The Office of Technology Managements mission is to encourage innovation, enhance research, and facilitate economic development through the transfer of intellectual property. In its primary area of responsibility, the OTM provides in-house technology protection and commercialization services to transfer IP created on the UIC campus into practical use to benefit the public as quickly and effectively as possible. Objectives related to IP – Make an impact To provide protections and incentives to encourage discovery and development of new knowledge, its transfer for the public benefit and its use for development of the economy – Benefit financially and improve reputation To enhance the generation of revenue for the University and to provide financial and reputational benefits for the creator(s) – Preserve ability to conduct research To preserve the University's freedom to conduct research and to use the intellectual property created by that research or pursuant to an institutional initiative

3 What is commercialization? The dissemination of research discoveries in the form of intellectual property (IP) rights through licensing and start-up creation Fulfills the Universitys economic development mission through the development and commercialization of new technological and scientific innovations What is intellectual property? Exclusive rights granted to owners of intangible assets – The protectable discoveries that result from research at the University This can include: – Patents – Copyrights – Trademarks – Trade Secrets – Tangible Material* Introduction to the OTM: Commercialization of Research Discoveries

4 Introduction to the OTM: From Disclosure to Commercialization Discovery/ Invention ScreeningMarketingLicensing Disclosure to the OTM IP Creation

5 Introduction to the OTM: FY13 by the Numbers

6 Chicago Innovation Mentors (CIM)

7 Chicago Innovation Mentors : How it started CIM was founded in 2010 to provide team-based mentoring to faculty interested in exploring how to commercialize their technology – Founded by UIC, University of Chicago, Northwestern and iBIO – Focused mission of supporting local, university-based, new technology innovation ventures through the use of mentor teams Catalyzing university technology commercialization – Adapted from the MIT Venture Mentoring Service model – Expanded in 2012 to include Argonne National Laboratory and the Rehabilitation Institute of Chicago Over 175 mentors and 70 active mentee teams

8 Chicago Innovation Mentors : How it works Team based mentoring – Team mentoring provides mentees with several advantages Diverse experience from which to gain input – range of counsel Richer discussions among the mentor team members – But no right answer – Different dynamic than individual advising Mentor orientation is required Lead mentor assigned to each team Optimal team is 3-5 mentors with a range of experience/expertise Mentor teams will probably change over time – Mentor expertise includes regulatory pathway, clinical development, legal, finance, business development, entrepreneurship, etc. Monthly meeting of mentors and new mentees – Mentors volunteer and are matched to mentees after the monthly meeting Ongoing mentoring – Open ended, no formal 10 week or 10 step process

9 The Leading University Gap Funding Vehicle AUM$65 million Management Team Nancy SullivanInterim CEO and Managing Director John ReganManaging Director Rob SchultzManaging Director Jim Keating Associate Stage/Focus Industries Among most active seed and early stage investor in region Unique expertise, approach to research-derived work Originators of market-leading companies in key domains IT, physical and life sciences, cleantech Inter-domain seams Geography IL and the Midwest Portfolio StatusCompanies seeded: 71 Private fund investments: # 1 regionally #23 nationally IllinoisVentures successful strategy put a meaningful dent in the daunting challenge of driving growth in a tough economic setting. Introduction to IllinoisVENTURES

10 Linking the pieces : : Early-Stage Financing Puzzle Development Cycle Creating Sustainable Startups R&D dollars Proof of Concept Funding Seed Dollars Venture Investment Patent Protection Funds

11 Introduction to IllinoisVENTURES: The Impact of IllinoisVENTURES

12 UIC Chancellors Innovation Fund (CIF)

13 Chancellors Innovation Fund: A Commitment to Proof of Concept and Seed Funding UIC Chancellors Innovation Fund: What is it A hybrid equity investment and proof of concept funding mechanism Anticipated funding is $2 million per year for 5 years Reinvestment of royalty income earned through the commercialization of technologies Equity investments anticipate returns Proof of Concept funding provided to facilitate the commercialization of technologies & increase number of sustainable startups IllinoisVENTURES is the fiscal agent for the fund

14 Connecting University Innovation to Stakeholders Creating the next generation of research development support and services The Chancellors Innovation Fund links emerging technologies, federally funded innovation grants, alumni, donors, corporations, investors and the greater community Investors Federal Innovation Grants UIC Discoveries Donors/ Alumni Corporate Partners UIC Innovation Fund

15 Chancellors Innovation Fund: A Commitment to Proof of Concept and Seed Funding UIC Chancellors Innovation Fund: A Commitment to POC and Seed Funding Becoming more deliberate and strategic in support of our research teams & startup entities – Accelerate translational research through to commercialization – Combine seed funding with advisory services and educational initiatives – Plug innovators into outside funding and collaboration networks – Researchers face difficulty finding early stage funding to develop and test prototypes In order to fill this gap and accelerate the commercialization of university innovations a proof of concept and seed funding is needed The Chancellors Innovation Fund establishes UIC as a leader in technology acceleration, makes UIC more competitive and positions the Campus as an important partner to external stakeholders

16 QUESTIONS HOW CAN WE HELP? NANCY SULLIVAN CEO & Managing Director, IllinoisVENTURES Interim Executive Director, UIC OTM illinoisventures.com JEREMY HOLLIS Interim Director, UIC OTM otm.uic.edu

17 THANK YOU


Download ppt "COMMERCIALIZATION RESOURCES FOR RESEARCH AT UIC UIC Office of Technology Management and IllinoisVENTURES NANCY SULLIVAN CEO & Managing Director, IllinoisVENTURES."

Similar presentations


Ads by Google