commercialization at the university of waterloo ideas start here ™ scott inwood director...
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Commercialization at the University of Waterloo
ideas start here™
Scott InwoodDirector Commercialization
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Location
Province of Ontario
Most populated area of Canada (75km from Toronto)
Close to U.S Border (Niagara Falls 130km, Detroit 250km)
Waterloo – concentration of high tech companies (RIM, Dalsa, Open Text, Google, Sybase, Agfa, ComDev, etc)
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Quick Facts…the Numbers
6 Faculties ( Applied Health Sciences, Arts, Environmental Studies, Science, Math, Engineering)
29000 undergraduate students, 4800 graduate students, (4500 international), 1100 faculty members
Largest co-operative education program in the world16,000 students enrolled 4500 employers
Top research university three years in a row (Comprehensive category) Researchoce
New: Institute for Quantum Computing and Institute for Nano Technology
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More Quick Facts…
$190 M annual research
Only dedicated faculty of Mathematics in North America World’s largest centre for education
in math and computer sciences
Largest concentration of quantum information research in the world
One of Canada’s largest Engineering faculty
Top research university three years in a row (Comprehensive category) Researchoce
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Waterloo…in the beginning 1957 - vision to build close
research relationships with industry
Co-op Education Program – 1st in North America (attract students and build industry partnerships)
Focus on Engineering and Math (1st to create a Faculty of Math)
Inventor ownership of intellectual property (an incentive to attract leading & entrepreneurial Researchers)
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Intellectual Property Policy
Inventors OWN - no obligation toshare with the University (exception for industry sponsored research contracts)
Philosophy:
Ownership attracts high quality entrepreneurial researchers
Incentive is best motivator to promote transfer of technology for societal use and benefit
Result: UW widely acknowledged as most entrepreneurial research environment in Canada
» Canada’s most innovative university 20 years in a row (Maclean’s Magazine)
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Partnering Relationship
Based on mutual desire to partner in commercialization
Formal Researcher’s Agreement : Inventor keeps ownership and grants
exclusive right to commercialize
Revenue sharing (net of patent cost recovery) Inventor(s) 75% and University (25%)
MOST ATTRACTIVE INVENTOR
COMMERCIALIZATION ENVIRONMENT IN CANADA (possibly North America?)
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Waterloo Commercialization Office (WatCo)
IP Protection (patents)
Prototype Development\Validation
Access to commercializationexpertise (staff) Technical backgrounds cover all
facets of Engineering and Physical Sciences
Minimum 8 years private sector experience
Entrepreneur-in-Residence
Building Value …….we convert ideas into opportunities
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Startup Model Equity in startup company and grants exclusive
license (royalty payments)
Incentive model – all participants in company need to achieve performance milestones to earn stock options
Recruit experienced management “sweat equity”
University provides ongoing “hands-on” support
Inventor provides ongoing technical support
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Exclusive License
Equity, Royalty
Milestones
Stock Options
Startup Model
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Devulcanization process to recycle scrap tires ( 20-30%)
University secured prototype funding from Government
Recruitment of Senior Manager
$750,000 investment and debt financing (2009)
Pilot scale testing (2010)
Partnership negotiations (2011)
Looking for more investment = full scale plant (2012)
www.tyromer.com
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Other Entrepreneurial Support Systems Velocity
undergraduate student startup mentoring residence
Velocity Garage – free office space Venture Fund – funded $1M by
former student
Since 2008, over 180 projects, 34 companies created raising $30M in funding and creating over 600 jobs
WatCo
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Other Entrepreneurial Support Systems..continued
Conrad – Business, Entrepreneurship,Technology MBET Program – student teams
working on startup practicum Business plan competitions 50 new startups over past 10 years
WatCo Scientist and Engineers (SEB)
Commercialization Fellowships
Funding partnership with Federal Gov’t $60k for students to launch hi-
tech business
Will support 15 fellowships
WatCo
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Recent Commercialization ImpactAccelerator Centre :
As of 2011, 19 graduate companies, 84 companies incubated, raising $72M in funding and generating $43M in revenue and over 600 jobs
Velocity Since 2008, over 180 projects, 34 companies created
raising $30M in funding and creating over 600 jobs
WatCoSince 2009: 5 startups raising over $2M in seed financing 24 license agreements with existing companies Annual licensing revenue of ~ $500k/year ~ $3M in prototype development funding
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Regional Commercialization PartnersAccelerator Centre – North Campus
Not for profit business mentoring facility for start-up companies
C4 Network
South western Ontario University technology transfer collaboration
Communitech
Waterloo regional high tech association – “Digital Media Hub”
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C4 Network
Commercialization collaboration amongst Southwestern Ontario universities
University of WaterlooUniversity of Western OntarioMcMaster UniversityUniversity of GuelphWilfrid Laurier UniversityUniversity of Windsor
• Resource sharing (people) • Proof of Principle funding• Targeted industry seminars\workshopsy
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Accelerator Centre Located on north campus
Business mentors who provide advice and governance discipline
network of expert service providers including legal, IP, HR, and accounting
on- and off-site organized special networking events
daily networking opportunities with other entrepreneurs
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Information Technology company association
Digital Media Hub = 44,000 ft² facility that supports start-ups in the digital media market
Assisted > 450 start-ups with mentoring services, networking, access to capital
Client companies have raised over $300M in venture funding
573 jobs created by start-ups
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Waterloo Entrepreneurial EcoSystem “It takes a village to raise a child”
WatCo
Business Mentoring facility
High Tech Association – “Digital Media Hub”
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Startup Snapshot