Presentation on theme: "University of Minnesota Entrepreneurial Leave Program March 2012."— Presentation transcript:
University of Minnesota Entrepreneurial Leave Program March 2012
Office for Technology Commercialization 2 Entrepreneurial Leave Program Facilitate temporarily leave for faculty inventors who want to help an external organization commercialize a UMN IP-based product or service. UMN Benefit: Create institutional value by ……. increasing potential for successful translation and commercialization of research increased faculty knowledge and experience for teaching improved commercial research focus increased UMN public engagement
Office for Technology Commercialization 3 Entrepreneurial Leave Program Why is this important? President Kaler is committed to a culture of entrepreneurialism and innovation Faculty inventors are a key ingredient in successful commercialization of UMN research Increasing pressure to demonstration ROI and drive economic development from research There is a need to increase public engagement and industry relationships
Office for Technology Commercialization 4 Benchmarks External University of LouisvilleActive program Ohio State UniversityActive program National Cancer Institute-FrederickActive program Northwestern University-McCormickActive program Michigan TechActive program Stanford UniversityNo program University of UtahNo program Columbia UniversityNo program University of Wisconsin-MadisonNo program Internal Chuck Muscoplat, Senior VP; System Academic AdminCompleted Mos Kaveh, Associate Dean; College of Science and EngineeringCompleted Abel Ponce de Leon, Associate Dean; Food, Agr, Nat Rsrc Sci AdminCompleted Tucker LeBien, Associate VP for Research; AHCCompleted
Office for Technology Commercialization 5 Proposal Work within the same structure as we have today by keeping the program rules mostly the same Sabbatical Leave, Single Semester Leave and Entrepreneurial Leave Available when working with UMN licensed IP or when substantially demonstrating institutional benefit (business faculty) No salary support but no limit the amount of outside compensation available to the faulty Operation details are TBD; coverage to offset healthcare benefits costs Limited to one year, requires 100% leave Eligibility every four years Requires monthly “check-ins” with supervisor and OTC representative Keep it simple, work within the current framework Take a first step and get it out quickly
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