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Alternative Revenue Sources to Fund Research Geoffrey S. Chatas Senior Vice President for Business and Finance and Chief Financial Officer.

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Presentation on theme: "Alternative Revenue Sources to Fund Research Geoffrey S. Chatas Senior Vice President for Business and Finance and Chief Financial Officer."— Presentation transcript:

1 Alternative Revenue Sources to Fund Research Geoffrey S. Chatas Senior Vice President for Business and Finance and Chief Financial Officer

2 Economic Development Forum: Local & Regional Stakeholders Office of Research Research at The Ohio State University 2

3 Economic Development Forum: Local & Regional Stakeholders Office of Research Research Across a Large University Targeted Investments in Excellence (TIEs) 3 A 5-year, $110 million investment targeting major global concerns through multidisciplinary work: Climate, Water, and Carbon Mathematical Biosciences Institute Public Health Preparedness Program Center for Cosmology and Astro-particle Physics Center for Clean, Sustainable Energy Advanced Materials Initiative Population and Health Initiative Translational Plant Sciences Initiative The Music Industry Program Micro-RNA Project

4 Economic Development Forum: Local & Regional Stakeholders Office of Research Centers for Innovation: Leading Innovation and Discovery to Address Problems of Global Dimension 4 Poverty Hunger Health and disease Climate change Economic systems Industrial competition Art and culture Access to energy

5 Economic Development Forum: Local & Regional Stakeholders Office of Research Collaboration Across Disciplines 5 Food Innovation Center Designing foods for health Food safety Biomedical nutrition/ disease prevention Global food strategy and policy

6 Finding Solutions to Global Challenges Food Production and Security Health and Wellness Energy and the Environment Photo courtesy of the Ohio State Medical Center Discovery Themes Photo courtesy of the Ohio State Office of Energy and Environment 6

7 Economic Development Forum: Local & Regional Stakeholders Office of Research Ohio Third Frontier Program 7 –60+ Ohio State projects 60+ Ohio State projects Facilities and laboratories Industry-university collaborations Product development

8 Economic Development Forum: Local & Regional Stakeholders Office of Research The Ohio State University Industry Liaison Office Accelerating Innovation… Connections Strategic Partnerships Project Collaborations Student Opportunities Sponsored Research Support Services Opportunity Assessments …building global leadership Partnerships with a Purpose 8 Partnerships With a Purpose 8

9 Economic Development Forum: Local & Regional Stakeholders Office of Research The Gateway to Ohio State Innovation and Expertise 9 More than 400 New or Renewed Connections

10 Economic Development Forum: Local & Regional Stakeholders Office of Research Ohio Research Industry Partnerships 10 More than 340 Industry Partnerships

11 The number of industry partners are represented in each state Ohio State is actively engaged in more than 760 partnerships with industries representing 40 states

12 Economic Development Forum: Local & Regional Stakeholders Office of Research One example of a College investing in faculty research - Medicine The College of Medicine (COM) invests in its researchers via three programs –Equipment/Shared Resource Program Created to support the purchase/upgrade of shared equipment or the development and dissemination of innovative methodologies expanding Core use Applications are reviewed by COM Core Oversight Committee $475,000 have been awarded since FY10 to 16 researchers 12

13 Economic Development Forum: Local & Regional Stakeholders Office of Research COM Research Investments 13 –Bridge Funding Grant Program Created to provide short-term bridge funding to faculty with favorably reviewed but unfunded federal research –Goal: Support research that is likely to be federally funded –All applications are peer reviewed.. –Since FY10, 13 researchers have received more than $780,000 –4 of these researchers have subsequently secured federal funding. Enhancement of review process recently implemented to increase this success rate. –Pilot Funding Grant Program Recently created to fund preliminary data collection for proposal development First round of application due September 2012

14 Economic Development Forum: Local & Regional Stakeholders Office of Research Technology, Commercialization, and Knowledge Transfer 14 Capital Industry Funding Entrepreneurs Excellent Faculty Great Minds Great economies are built around great universities, which attract:

15 Economic Development Forum: Local & Regional Stakeholders Office of Research The Transformative Opportunity 15 Universities become the drivers Almost 85% of capital and companies stay within 50 miles of universities Top 25 Large Metros: Forbes Best Places 2011

16 Economic Development Forum: Local & Regional Stakeholders Office of Research The Transformative Opportunity 16 So why do so many universities fail? Less than 7% make over $20 million What will it take to make OSU a driver?

17 Economic Development Forum: Local & Regional Stakeholders Office of Research Cradle-to-Grave Manager for OSU Inventions 17 The Technology Commercialization Office (TCO) at Ohio State supports all phases of university technology commercialization and start-up development.

18 Economic Development Forum: Local & Regional Stakeholders Office of Research TCO: Changing Our Industry Partnerships 18 Idea Research/IP Protection Industry Prototype Beta Launch/ Customers Lab Prototype Growth Product Development Market Directed Research Applied Research Basic Research INSIGHT Ideation $$ Ideation $$ Researchers Companies Students

19 Economic Development Forum: Local & Regional Stakeholders Office of Research New Partnerships 19 Identify strategic partners who can: Enhance research Accelerate product development Increase impact Increase return on investment

20 Economic Development Forum: Local & Regional Stakeholders Office of Research New Partnerships 20 OSU-Battelle Innovation Center is a unique public/private partnership built to: Attract outside capital for R&D Invest in and commercialize technology breakthroughs Educate and train the next generation of entrepreneurs and translational scientists Set a standard in commercialization leadership Expedite product development and prototyping

21 Economic Development Forum: Local & Regional Stakeholders Office of Research Supporting Structures 21 The Ohio State Innovation Foundation (OSIF) provides OSU with a structure for: Investment in its most promising technologies and start-upsFund-raising and Education endowmentsPartnerships to create and manage equity investmentsGreater responsiveness and flexibilityIncreased security for corporate partners

22 Economic Development Forum: Local & Regional Stakeholders Office of Research Faculty Innovation Scorecard Total Number of Patents Number of Patents Issued in the Last Five Years Number of Full Patent Applications Filled Number of Start-Ups Number of Licenses to Industry Number of Licenses for Tangible Property Number of Licenses for Software Number of MTAs on File Number of Start-Ups that have Received SBIR/STTR Funding Amount of SBIR/STR Funding Received Number of Start-Ups that have Received VC/Angel Funding Amount of VC/Angel Funding Number of Industry Sponsored Projects Monetary Amount of Industry Sponsored Projects Number of Projects with Clinicians with Governmental Funding Monetary Amount Received from Government for Projects with Clinicians

23 Economic Development Forum: Local & Regional Stakeholders Office of Research Challenges and Opportunities 23 Challenges Federal budget Federal regulations State budget Faculty retirements Change in focus of Ohio Third Frontier program Opportunities Collaboration (big projects) across colleges Industry downsizing in-house R&D Medical Center expansion and Nationwide Children's expansion Creation of office to pursue large grant opportunities Innovation opportunities with Battelle

24 Economic Development Forum: Local & Regional Stakeholders Office of Research Questions and Discussion 24 Thank you.


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