Inventis Group Ltd.Inventis Group Ltd.I ti / C i li ti / T f tiI ti / C i li ti / T f tiInnovation / Commercialization / TransformationInnovation / Commercialization / Transformation
Innovation to TransformationInnovation to TransformationCapturing Technology, Talent & CapitalCapturing Technology, Talent & Capital
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Inventis Group Ltd.Inventis Group Ltd.BackgroundBackground
Founded 2004Founded 2004 Culmination of 25 yearsCulmination of 25 years Mission: Change the world Mission: Change the world –– 11stst thru 3thru 3rdrd
Vision: Improve a child’s life in every continentVision: Improve a child’s life in every continentPersonalPersonal
FarmFarm Farm Farm EntrepreneurEntrepreneur
NYC / Copenhagen / Barcelona / ManchesterNYC / Copenhagen / Barcelona / Manchester J.D. / M.B.A.J.D. / M.B.A. TravelTravel
Give BackGive Back
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Give Back Give Back
Technology, Talent, Capital (TTC)Technology, Talent, Capital (TTC)Technology, Talent, Capital (TTC)Technology, Talent, Capital (TTC)
Dr. Robert SolowDr. Robert Solow1987 N b l P i i E i1987 N b l P i i E i 1987 Nobel Prize in Economics1987 Nobel Prize in Economics
NeoNeo--classical Growth Theoryclassical Growth TheoryTTC = Economic DevelopmentTTC = Economic Development
Ms. Katherine KuMs. Katherine Ku Director, Stanford University, Technology Transfer OfficeDirector, Stanford University, Technology Transfer Office No magic No magic –– Abundant TTCAbundant TTC
Mr. Jonathan KaoMr. Jonathan Kao “Innovation Nation”“Innovation Nation”
TTC in Singapore, Finland, DenmarkTTC in Singapore, Finland, DenmarkS ll C t i b t l f t i tS ll C t i b t l f t i t Small Countries but large footprintsSmall Countries but large footprints
Best PracticesBest Practices
Simple Answer / No simple SolutionSimple Answer / No simple Solution
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CapturingCapturing Technology Talent CapitalTechnology Talent CapitalCapturingCapturing Technology, Talent, Capital Technology, Talent, Capital
PP Purpose Purpose Overview of TTC Overview of TTC
STEM to StartSTEM to Start--Up’sUp’s IP to Economic DevelopmentIP to Economic Development
Outline Process Outline Process Innovation to TransformationInnovation to Transformation
CommercializationCommercialization
Discuss ApproachesDiscuss Approaches UniversityUniversity IndustryIndustry GovernmentGovernment
ObjectiveObjectiveInteractively capture “Best Practices”Interactively capture “Best Practices”Take away: “Empowerment” Take away: “Empowerment”
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Capturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
TechnologyTechnology
OverviewOverviewUniversityUniversity
Traditionally: Basic researchTraditionally: Basic research Funded thru governmentFunded thru government Now: Growing number of collaborations with IndustryNow: Growing number of collaborations with Industry
U. of Pittsburgh & GEU. of Pittsburgh & GEGovernmentGovernment
Traditionally: Basic researchTraditionally: Basic research Traditionally: Basic researchTraditionally: Basic researchDOE, DoD, NIH, NSF etc.DOE, DoD, NIH, NSF etc.Some have labs, some not (NSF)Some have labs, some not (NSF)
Now: Growing number of collaborationsNow: Growing number of collaborationsIndustryIndustryyy
Traditionally: Basic and advanced researchTraditionally: Basic and advanced researchSmart companies Smart companies –– maintaining or increasing R&Dmaintaining or increasing R&D
Now: Pipeline collaborations increasing Now: Pipeline collaborations increasing -- P&GP&GIndividualsIndividuals
Traditionally: InventorsTraditionally: Inventors
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Traditionally: InventorsTraditionally: InventorsU.S. Constitution Article 1 section 8: ‘Grants Inventors exclusive rights’ U.S. Constitution Article 1 section 8: ‘Grants Inventors exclusive rights’
Now: Growing numbers of entrepreneursNow: Growing numbers of entrepreneurs
Capturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
Technology (cont’d)Technology (cont’d) Intellectual PropertyIntellectual Property
40% of World’s IP generated in US 40% of World’s IP generated in US $1T in GDP (WSJ)$1T in GDP (WSJ)
ProtectionsProtections PatentsPatents Trade Secrets etc.Trade Secrets etc.
800 lbs Gorilla’s800 lbs Gorilla’s 800 lbs. Gorilla s800 lbs. Gorilla sa.) Litigationa.) Litigationb.) Reb.) Re--engineer Teamengineer Team
ValuationsValuationsValuationsValuations What’s it worth?What’s it worth? For whom does it have value?For whom does it have value? What methodology?What methodology?
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Capturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
TalentTalentO i R t i R itO i R t i R it Overview: Retain vs. Recruit Overview: Retain vs. Recruit
STSTEEM M –– grow your owngrow your own Wall Street Journal studyWall Street Journal study
STEM = Economic DevelopmentSTEM = Economic Development 1970 US leads in S&E’s vs. Today 12th1970 US leads in S&E’s vs. Today 12th
UniversityUniversity Local resources = Local opportunitiesLocal resources = Local opportunities Entrepreneurial programs for students & professorsEntrepreneurial programs for students & professors Entrepreneurial programs for students & professorsEntrepreneurial programs for students & professors
StanfordStanfordGovernmentGovernment
General OfficersGeneral OfficersLt. Gen. (retired) John Novak Lt. Gen. (retired) John Novak –– retained retained
Scientists & EngineersScientists & EngineersChief Scientist, (retired) Dr. Wade Adams Chief Scientist, (retired) Dr. Wade Adams -- recruitedrecruited
IndustryIndustry RetireesRetirees
P&G intranetP&G intranet
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P&G intranetP&G intranet
Capturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
CapitalCapital OverviewOverview
GovernmentGovernment Federal Economic Stimulus packageFederal Economic Stimulus package
Wall Street JournalWall Street Journal –– Cisco grant writersCisco grant writersWall Street Journal Wall Street Journal Cisco grant writersCisco grant writers State & Local governmentState & Local government
Ohio 3Ohio 3rdrd FrontierFrontier CIA CIA –– InIn--QQ--TelTel
IndustryIndustryIndustryIndustry Intel FundIntel Fund GoogleGoogle Lockheed Lockheed
Private EquityPrivate EquityPrivate EquityPrivate Equity Life Cycle FundingLife Cycle Funding
PrePre--seed / Seed / Early Stage / 1seed / Seed / Early Stage / 1stst, 2, 2ndnd, 3, 3rdrd Rounds / Mezzanine / Rounds / Mezzanine / IPOIPO
Angels vs Venture CapitalistAngels vs Venture Capitalist
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Angels vs. Venture CapitalistAngels vs. Venture Capitalist
Research Lab to StartResearch Lab to Start--up:up:The ProcessThe Process
Due Diligence: Due Diligence: T h l Id tifi tiT h l Id tifi tiTechnology IdentificationTechnology Identification
IPIPApplicationsApplicationsMarketsMarketsSustainable Competitive AdvantageSustainable Competitive AdvantageSustainable Competitive AdvantageSustainable Competitive Advantage
Talent IdentificationTalent Identification ManagementManagement
Personnel with experiencePersonnel with experienceTalent availableTalent available
Capital IdentificationCapital Identification GovernmentGovernment
Grants are GreatGrants are Great IndustryIndustry
Customer or PredatorCustomer or PredatorCustomer or PredatorCustomer or Predator Private EquityPrivate Equity
What’s most important?What’s most important? Friends & FamilyFriends & Family
Is there a Business Case for Technology Commercialization?Is there a Business Case for Technology Commercialization?
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gygy
Research Lab to StartResearch Lab to Start--up:up:The ProcessThe Process
AgreementAgreementAgreementAgreement Exclusive LicenseExclusive License
How much?How much?How much?How much?How “exclusive”?How “exclusive”?
Government / DoD worldGovernment / DoD world--wide rights for nonwide rights for non--commercialcommercial
NonNon--ExclusiveExclusiveField of UseField of Use
What are you giving and getting?What are you giving and getting? Consider impact e.g. investorsConsider impact e.g. investors
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p gp g
Research Lab to StartResearch Lab to Start--up:up:The ProcessThe Process
Markets & Customers BuildMarkets & Customers Build--outoutG l I d tG l I d t General: IndustryGeneral: Industry
How big?How big? Specific: CustomersSpecific: Customers
How many?How many?How soon?How soon?
Letter of Support vs. Purchase OrderLetter of Support vs. Purchase OrderTesting Cycle or Product Delivery dateTesting Cycle or Product Delivery date
FinancingFinancing Life Cycle Life Cycle –– where do you fit?where do you fit? 2x Amount and 2x time to close2x Amount and 2x time to close
How to spend?How to spend?ROI?ROI?When?When?
Growth Growth –– Next StepsNext StepsMarkets Management (More) MoneyMarkets Management (More) Money
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Markets, Management, (More) MoneyMarkets, Management, (More) Money
Research Lab to StartResearch Lab to Start--up:up:’’The Process: It’s PersonalThe Process: It’s Personal
“The Give Back”“The Give Back”Di Y GiftDi Y Gift Discover Your Gift .comDiscover Your Gift .com
Plan AheadPlan Ahead/ C C/ C C Pick one / Combine CausesPick one / Combine Causes
Time & MoneyTime & MoneyBill and WarrenBill and Warren
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
How do we build our own “Silicon Valley”?How do we build our own “Silicon Valley”?How do we build our own Silicon Valley ?How do we build our own Silicon Valley ?
O A hO A hOne Approach: One Approach: University of DaytonUniversity of Dayton
22ndnd in Nation in Materials Science (NSF)in Nation in Materials Science (NSF)Exclusive license: RF technologyExclusive license: RF technology
Analog Bridge Inc formedAnalog Bridge Inc formed Analog Bridge Inc. formedAnalog Bridge Inc. formed Negotiations w/ two subsidiaries Negotiations w/ two subsidiaries
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
Top 9 Suggestions:Top 9 Suggestions:p ggp gg1. Overall1. Overall Technology, Talent, CapitalTechnology, Talent, Capital
Have all three or walk awayHave all three or walk away
2. Technology 2. Technology Build relationship with Inventor Build relationship with Inventor
Understand technologyUnderstand technologyUnderstand visionUnderstand vision
Develop an Advisory BoardDevelop an Advisory BoardComposed of multiple disciplines Composed of multiple disciplines Discover & understand all pathways to commercial successDiscover & understand all pathways to commercial success. .
3 Talent3 Talent::3. Talent3. Talent:: StartStart--up’s: Everyone’s indispensable esp. technical folksup’s: Everyone’s indispensable esp. technical folks Everything properly documented, esp. technical infoEverything properly documented, esp. technical info
Lab / Inventor’s NotebookLab / Inventor’s Notebook
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
4. Capital: 4. Capital: Licensing agreement: All anglesLicensing agreement: All angles Licensing agreement: All anglesLicensing agreement: All angles
Investor’s perspective.Investor’s perspective. Investors only care: Investors only care:
Costs to get in Costs to get in ROI upon exitROI upon exitROI upon exit ROI upon exit When?When?
5. Talent 5. Talent Talent, like family, not always a choiceTalent, like family, not always a choice Delegation may not be an optionDelegation may not be an optionDelegation may not be an option Delegation may not be an option
Get the job doneGet the job done6. Capital6. Capital Know life cycle of investments Know life cycle of investments
PrePre--seed, Seed etc.seed, Seed etc.,,Where do you fit?Where do you fit?
Know investor profilesKnow investor profilesWhat? When? How much?What? When? How much?
Race to marketRace to marketD ’ ’ iD ’ ’ i
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Don’t waste anyone’s timeDon’t waste anyone’s time
Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
7. Capital:7. Capital: Know Your Funding SourceKnow Your Funding Source
Policies, Procedures & Timelines Up FrontPolicies, Procedures & Timelines Up FrontInsist on Answers and Time to CureInsist on Answers and Time to Cure
8. Technology8. Technology Research is ongoingResearch is ongoing
Know Competitive LandscapeKnow Competitive LandscapeKnow word on the streetKnow word on the street
9. Overall9. Overall Never stand stillNever stand still If your moving, you’re not deadIf your moving, you’re not dead
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
Second Approach:Second Approach:Second Approach:Second Approach: AFRL / IndustryAFRL / Industry
Collaboration with Air Force Research LaboratoryCollaboration with Air Force Research LaboratoryCollaboration with Air Force Research LaboratoryCollaboration with Air Force Research Laboratory Investments for CommercializationInvestments for Commercialization (I4C) pilot program(I4C) pilot program
Focus: Small Business Innovative Research (SBIR) Focus: Small Business Innovative Research (SBIR) Top tier Private Equity Orgs.Top tier Private Equity Orgs.Industry CollaboratorsIndustry CollaboratorsFederal, State & Local economic development Federal, State & Local economic development pp
MissionMissionLife Cycle Funding for Game Changing TechnologiesLife Cycle Funding for Game Changing Technologies
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
Investments for Commercialization (I4C)Investments for Commercialization (I4C)( )( )
TechnologyTechnologySBIR ProgramSBIR ProgramSBIR ProgramSBIR Program
Federally funded Federally funded –– 2.5% of each Agency’s budget2.5% of each Agency’s budget DoD, DoE, NSF, NIH all run slightly differentlyDoD, DoE, NSF, NIH all run slightly differently
Ai F SBIRAi F SBIR Hi h t ti i D t iHi h t ti i D t iAir Force SBIR Air Force SBIR –– High concentration in Dayton regionHigh concentration in Dayton region I4C program invited 7 local companies I4C program invited 7 local companies Develop Commercialization Plans Develop Commercialization Plans
Purpose: Investment CapitalPurpose: Investment CapitalPurpose: Investment CapitalPurpose: Investment Capital StakeholdersStakeholders
Invest in working prototypesInvest in working prototypesSBIR Phase 2 deliversSBIR Phase 2 delivers
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
TalentTalentI d tI d t IndustryIndustry
Mentors / RetireesMentors / Retirees Willing to take active role Willing to take active role Safeguard investmentsSafeguard investments
ROIROI ROIROI
UniversitiesUniversitiesProfessors: Advisory Boards Professors: Advisory Boards Students: Entrepreneurs / JobsStudents: Entrepreneurs / JobsStudents: Entrepreneurs / JobsStudents: Entrepreneurs / Jobs
Sergey BrinSergey Brin Need more!Need more!
GovernmentGovernment GovernmentGovernmentRetiring Scientists and EngineersRetiring Scientists and Engineers
Dr. Wade AdamsDr. Wade AdamsRetiring General OfficersRetiring General Officers
Lt. Gen (retired) John NovakLt. Gen (retired) John Novak
20202/9/20112/9/2011
Ge ( e ed) Jo o aGe ( e ed) Jo o a
Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
CapitalCapital Federal Stimulus $$$Federal Stimulus $$$
GrantsGrantsUnorganized ProcessUnorganized Process
“Shovel Ready”“Shovel Ready” Shovel ReadyShovel Ready Who’s allocating?Who’s allocating?
State & LocalState & Local33rdrd FrontierFrontier
S d PS d P Seed ProgramsSeed Programs IndustryIndustry
Many pulling back Many pulling back Smart $$ still investingSmart $$ still investingSmart $$ still investingSmart $$ still investing
Private EquityPrivate EquityMany consolidatingMany consolidatingG d d l till lG d d l till l
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Good deals still ruleGood deals still rule Green/CleanGreen/Clean
Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
33rdrd Approach:Approach:33 Approach:Approach:AFRL AFRL
T h lT h l i th F ti th F t Technology Technology in the Futurein the Future
SEED (S i ti t & E i E t i lSEED (S i ti t & E i E t i lSEED (Scientists & Engineers Entrepreneurial SEED (Scientists & Engineers Entrepreneurial Development) programDevelopment) program
SpinSpin--out game changing technologies from AFRLout game changing technologies from AFRLpp g g g gg g g g Enable S&E’s to pursue commercializationEnable S&E’s to pursue commercialization
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
Talent Talent in the Futurein the Future
STSTEEMMDayton Regional STEM School (DRSS)Dayton Regional STEM School (DRSS)Dayton Regional STEM School (DRSS)Dayton Regional STEM School (DRSS)
Located near WPAFBLocated near WPAFB Hosted by: Wright StateHosted by: Wright State Supported by: UD, Sinclair CC, Clark State CC, Central State Supported by: UD, Sinclair CC, Clark State CC, Central State
B tt ll Bill & M li d G t F d ti St d d R i tB tt ll Bill & M li d G t F d ti St d d R i tBattelle, Bill & Melinda Gates Foundation, Standard Register, Battelle, Bill & Melinda Gates Foundation, Standard Register, CDO Technologies and many local businessesCDO Technologies and many local businesses
Home grown talentHome grown talent
AFRL Scientists & EngineersAFRL Scientists & Engineers Encore career opportunitiesEncore career opportunities Advisory Board and CTO’sAdvisory Board and CTO’s
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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital
CapitalCapital in the Futurein the FutureCapital Capital in the Futurein the Future
P i t I t t F dP i t I t t F d Private Investment FundPrivate Investment FundFocused on Air Force technologiesFocused on Air Force technologiesCapitalized by nationCapitalized by nation wide network of Investorswide network of InvestorsCapitalized by nationCapitalized by nation--wide network of Investorswide network of InvestorsProfessionally managedProfessionally managedBringing new investment capital to OhioBringing new investment capital to OhioBringing new investment capital to OhioBringing new investment capital to OhioFirst fund to raise $10M First fund to raise $10M -- later funds of $50M +later funds of $50M +
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SummarySummarySummarySummary
Dr Solow’s Theory: Technology TalentDr Solow’s Theory: Technology TalentDr. Solow s Theory: Technology, Talent, Dr. Solow s Theory: Technology, Talent, CapitalCapital
Only works when communities focus onOnly works when communities focus on Only works when communities focus on Only works when communities focus on collaborationcollaboration
IDCAST is a perfect exampleIDCAST is a perfect exampleIDCAST is a perfect exampleIDCAST is a perfect example
Our Mission: Resurgence of InnovationOur Mission: Resurgence of InnovationOur Mission: Resurgence of Innovation Our Mission: Resurgence of Innovation Restore region to leadership roleRestore region to leadership role
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