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Innovation and Societal Impact

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Presentation on theme: "Innovation and Societal Impact"— Presentation transcript:

1 Innovation and Societal Impact
How you can get more out of your research, and how CTTC can help

2 What is Innovation? Development, refinement and new application of technology Conversion of knowledge and ideas into valuable better business, products and services Evolutionary process of increasing the capability to apply a technology

3 What is Innovation? To be a true innovation, a product, service or company must have three elements: it has to be unique, it has to bring real value to the customer, and it has to be commercially viable.

4 Innovation vs Invention

5 Not all great ideas are innovative

6 How do they get the vitamin D in the milk?

7 Research Cycle Grant application Hypothesis

8 Research Cycle Funding ($) Grant application Hypothesis Hypothesis

9 Research Cycle Hypothesis Research Hypothesis Funding ($)
Grant application Hypothesis Research Hypothesis

10 Research Cycle Hypothesis Research Discovery Hypothesis Funding ($)
Grant application Hypothesis Research Discovery Hypothesis

11 Research Cycle IMPACT Research Hypothesis Publication Discovery
Funding ($) Grant application Research Hypothesis Publication idea IMPACT Discovery

12 Innovation Cycle Research Research idea Innovation

13 Innovation Cycle Research Research Patents / Licenses Innovation idea
CTTC idea Innovation

14 Products, Services, Jobs
Innovation Cycle Products, Services, Jobs Research Research Patents / Licenses CTTC idea Innovation

15 Products, Services, Jobs
Innovation Cycle Royalties ($) IMPACT Products, Services, Jobs Research Research Patents / Licenses CTTC idea Innovation

16 Products, Services, Jobs
Impact Cycles Funding ($) Research Discovery Publication Grant application Royalties ($) Research Innovation Patents / Licenses Products, Services, Jobs

17 Products, Services, Jobs
Impact Cycles Funding ($) Discovery Publication Grant application Royalties ($) Innovation Patents / Licenses Products, Services, Jobs Research

18 Products, Services, Jobs
Impact Cycles IMPACT Funding ($) Research Discovery Publication Grant application Royalties ($) Innovation Patents / Licenses Products, Services, Jobs Research Cycle Innovation Cycle IMPACT

19 Patenting and Publishing
“Patenting has a positive effect on the rate of publications” Azoulay, P., W. Ding and T. Stuart, 2009, “The Impact of Academic Patenting on the Rate, Quality, and Direction of (Public) Research”, The Journal of Industrial Economics, 57(4),

20 Patenting and Publishing
Academic inventors “publish more and better quality papers than their non-patenting colleagues” Breschi, S., F. Lissoni and F. Montobbio, 2008, “University patenting and scientific productivity. A quantitative study of Italian academic inventors”, European Management Review 5,

21 Patenting and Publishing
“Inventors publish significantly more than their colleagues who work in similar fields and who have similar career characteristics.” Van Looy B., K. Debackere and J. Callaert, 2006, “Publication and Patent Behaviour of Academic Researchers: Conflicting, Reinforcing or Merely Co-existing”, Research Policy 35,

22 Patenting and Publishing
“…if applied effort leads to publishable output as well as licenses, then research output and the stock of knowledge are higher with licensing than without.” Thursby, M., J. Thursbay, and S. Mukherjee, 2007, “Are there Real Effects of Licensing on Academic Research? A Life Cycle View”, Journal of Economic Behavior & Organization 63(4),

23 Role of CTTC Serve the Vanderbilt community by assisting University inventors in bringing their innovations to practical application for the benefit of the public

24 Help ensure your research achieves IMPACT in the world
Role of CTTC In other words: Help ensure your research achieves IMPACT in the world

25 CTTC’s Function License inventions to industry Help launch new Start Up Companies Business Development / Industry Funding

26 What Does CTTC Do? Core Operations Other Key Functions
Technology evaluation, protection and licensing New venture assistance Federal Government compliance (Bayh-Dole) Medical Products Support Services (MPSS), including medical device regulatory affairs advisement (MDRAP) Material Transfer Agreement processing Education/training Industry research contract support Committee/board participation Strategic consultation for VU and VUMC

27 What Does CTTC Do? Core Operations Other Key Functions
Technology evaluation, protection and licensing New venture assistance Federal Government compliance (Bayh-Dole) Medical Products Support Services (MPSS), including medical device regulatory affairs advisement (MDRAP) Material Transfer Agreement processing Education/training Industry research contract support Committee/board participation Strategic consultation for VU and VUMC

28 What Does CTTC Do? Core Operations Other Key Functions
Technology evaluation, protection and licensing New venture assistance Federal Government compliance (Bayh-Dole) Medical Products Support Services (MPSS), including medical device regulatory affairs advisement (MDRAP) Material Transfer Agreement processing Education/training Industry research contract support Committee/board participation Strategic consultation for VU and VUMC

29 What Does CTTC Do? Core Operations Other Key Functions
Technology evaluation, protection and licensing New venture assistance Federal Government compliance (Bayh-Dole) Medical Products Support Services (MPSS), including medical device regulatory affairs advisement (MDRAP) Material Transfer Agreement processing Education/training Industry research contract support Committee/board participation Strategic consultation for VU and VUMC

30 What Does CTTC Do? Core Operations Other Key Functions
Technology evaluation, protection and licensing New venture assistance Federal Government compliance (Bayh-Dole) Medical Products Support Services (MPSS), including medical device regulatory affairs advisement (MDRAP) Material Transfer Agreement processing Education/training Industry research contract support Committee/board participation Strategic consultation for VU and VUMC

31 Importance of Innovation
Innovation improves the quality of life for citizens and patients. Since the public is paying for most of the research, it is important for them to see the benefits of innovations resulting from academic research in their lives.

32 Societal Impact Hepatitis B vaccine Allegra Coumadin Tyvaso
Streptomycin Pap smear Saccharin Rocket fuel Pacemakers Emtriva Gatorade Taxol Neupogen Vitamin D milk Cysplatin LCDs Penicillin PET/CT scanner Remicade Magnetic memory Fluoride toothpaste Insulin Restasis Polio vaccine MRI scanner Plexiglas Electron microscope

33 Economic Impact of Tech Transfer
2014 statistics

34 Economic Impact of Tech Transfer
2014 statistics

35 Economic Impact of Tech Transfer
2014 statistics

36 Economic Impact of Tech Transfer
2014 statistics

37 Arts and Sciences Serial Inventors

38 A &S School Inventions Total number of disclosed technologies: 377
Disclosures in the last ten years: 233 Number of active technologies: 150 44 technologies have been included in licensing transactions

39 Products on the Market Molecular Sensing, Inc. – FemtoMetrix, Inc. –
Back-scattering Interferometry FemtoMetrix, Inc. – Harmonic F1x KIYATEC, Inc. – Rotary micropumps and microvalves

40 Wrap Up There is more than one way for your research to achieve IMPACT Innovation in research is a moral imperative – if not you, who? CTTC has experience and expertise in helping your innovations achieve societal impact.

41 Questions?

42 Backup Slides

43 Innovative Research

44 (competing?) Objectives
Revenue Generation

45 (competing?) Objectives
Revenue Generation Faculty Service

46 (competing?) Objectives
Revenue Generation Faculty Service Regional economic development / job creation

47 (competing?) Objectives
Revenue Generation Faculty Service Regional economic development / job creation Societal benefit

48 (competing?) Objectives
Revenue Generation Faculty Service Regional economic development / job creation Societal benefit Partnership development / cultural enrichment

49 (competing?) Objectives
Revenue Generation Faculty Service Regional economic development / job creation Societal benefit Partnership development / cultural enrichment

50 Service, Service, Service
Commercialization is ultimate goal, not patents Value-add mindset Proof of concept Incubation Prototyping New ventures Creating value for VU can take a variety of forms, not just licensing Industry collaborations Philanthropy Grant funding Venture investment

51 CTTC Operations Technology Commercialization
Evaluation of new inventions Protection of new inventions Marketing of technology to industry Alternatively, supporting the creation of new ventures to commercialize technology Drafting, negotiating and executing technology license agreements Revenue invoicing and distribution License compliance monitoring

52 CTTC Operations Protection of IP further includes:
Selecting of patent counsel Overseeing the drafting, filing and prosecution of patent applications Registering of copyrights Obtaining assignment and other formal documents necessary for patent protection

53 CTTC Operations New Ventures Assessment of new venture ideas
Assistance and entrepreneurial support to faculty, staff, students Co-PI on NSF I-Corps grants and participation on I-Corps teams

54 CTTC Operations Federal Compliance Reporting Bayh-Dole Reporting
Invention reporting Election of title Confirmatory license to funding agency Utilization reporting Veterans Administration: all joint IP invention management activities

55 CTTC Operations Medical Device Regulatory Affairs program
Promote the success of faculty’s medical device R&D through FDA regulatory affairs support Assisting with ensuring compliance with FDA design control regulations Assisting with grant writing support vis-a-vis regulatory issues Advising on medical device FDA product type categorization Advising on regulatory pathway strategy Facilitating interactions with and review by IRB Providing information, education, training, and review for all involved in regulatory support of medical device R&D Assisting in commercialization of medical devices and industry engagement

56 CTTC Operations MTA Management
Process ~1000 MTAs each year to enable research Implemented MTAShare system to streamline MTA processing

57 CTTC Operations Education and Training of Vanderbilt community
Presentations and training sessions on fundamentals of IP, recent case law, commercialization process, etc. Lectures as part of formal Vanderbilt programs – ASPIRE, IMPACT, others

58 CTTC Operations Research Contract Support
Review IP and commercialization-related terms in SRAs, CTAs and collaboration agreements Provide revised language and negotiation support to OCM and SPA Track review times to assure minimal delay in executing research agreements

59 CTTC Operations Fulfill IP obligations under other grants and contracts Invention reporting to sponsors Track IP obligations and limitations for resultant technologies Negotiate licenses with Sponsors exercising their option to access IP

60 CTTC Operations Strategic consultation on collaboration opportunities
Participation, as requested, on boards of directors of portfolio companies Committee service

61 Products and services outlined on CTTC.co 9/18/2018

62 Innovative Vanderbilt products on the market

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