Presentation on theme: "Commercialisation at Curtin September 2007 Policy and Process."— Presentation transcript:
Commercialisation at Curtin September 2007 Policy and Process
Curtin IP Policy Find it on the web: –Research & Development –IP & Commercialisation –“IP Ownership Policy” Link –Ownership of Intellectual Property Review Process underway –No substantive changes –Clarifications Actively supports commercialisation
Staff Key Elements IP developed by staff: –Generally owned by Curtin Including Course Material and Computer Works –Copyright in scholarly works owned by the creator E.g. Publications; books Provision for licence back to Curtin Possible Exceptions: –Developed prior to joining Curtin –Outside normal scope of duties
Students Key Elements IP developed by students: –Owned by students Exceptions: –Part of Project Need for Student Agreements – need for informed decision Treated as staff member –Significant contribution by Curtin – excludes scholarships –Unusual level of Supervisor involvement –Use of Curtin Background IP
Sharing Returns Current Practice at Curtin: –50% of Net Proceeds from the “Base IP” returned to Inventors –Most common practice in universities: 33% –Returns due to Curtin’s cash investment not included University Share: –70% of Curtin’s Base IP share allocated to Division/School/etc –Of this, 30% usually allocated to Division –Agreement needed by all parties on this split
The Process: key elements Step 1: Identification and New Enquiry Summary –Self screening: has it got commercial potential –Provide the information needed for assessment. : Business opportunity? Value Proposition? Target Market? Competitive landscape/advantage? Scientific standing (lit review)? –Flesh out at meeting Overarching thought: this is a partnership We all add value in our areas of expertise
The Process: key elements Step 2: Preliminary Assessment –First draft of Opportunity Overview IP landscape? Novelty (prior art) search? Drill down on market/value proposition/competitive advantage This is a collaborative exercise No red flags? Submit formal Disclosure Form
The Process: key elements Step 3: Strategy Development –“Enhance” Opportunity Overview (a living document) –Draw on this to consider: Market entry strategy Revenue model Development plan Funding strategy Expansion strategy Exit Strategy Commercialisation Strategy
The Process: key elements Step 4: Implementation –CAG endorsement –Secure pre-seed funding Curtin Pre-Seed Fund Private investors/industry COMET or other grant? –Identify interim management –Business plan –Meet milestones Secure resources to execute Business Plan
The Process: key elements Step 5: Mentor~Manage~Monitor Curtin’s and Inventors’ Interests –Negotiate agreements which Secure rights Minimise risks Optimise returns Provide representation and information Monitor performance
Another overarching thought….. This process is non-linear!! Several iterations Opportunity Overview a living document – progressively evolves CAG interactions Investment Committee interactions
Commercialisation Process Mentor Manage Monitor Secure rights for Curtin Board Rep. Etc. Implement Opportunity Overview CAG ApprovalPre-Seed Fund Form Company? COMET Grant? Meet Milestones Business Plan External Capital Iterate! Assess in Detail IP/FTO Market Strategy Development Plan Competitive Analysis Revenue Model Exit Strategy Comm’n Strategy Fund? Pre-Qualify Breakthrough? Customers? Market? Value Proposition? Barriers? Identify TeamTechnology Reap Rewards Royalties? Exit?
And Then? Change career Sell up Retire to the Bahamas!!!