Download - Starting a Company from Research at the UW
Starting a Company Starting a Company from Research at the from Research at the
UWUWJames A. Severson, Ph.D.
Vice Provost, Intellectual Property and Technology Transfer
January 30, 2007
The mission of UW TechTransfer is to extend the impact of University of Washington research through the creation of partnerships that encourage investment in innovation.
Companies from the UWCompanies from the UW
• Over 200 companies stared by UW students, faculty or with UW technology
• Over 9200 people employed in these firms
• Over $3 billion in sales by these companies in FY2002
• 63% of these companies are still active• 89% of these companies are/were
located in Washington state
CorazonX
Technology Gap Innovation Technology Gap Innovation FundFund• Designed to enhance the commercial
value of UW discoveries• Partnership with WRF• Royalty Research Fund• External review panel
Increase ability to license discovery or to start a company
Commercial potential Milestones Budget
LaunchPad DynamicsLaunchPad DynamicsPartnering to catalyze business formation
People Resources
UW Researchers
VCs
Entrepreneurs
Business Leaders
UW Business
UW Law
• Plan
• Mentor
• Analyze
• Guide
UW TechTransferCompany Creation
Company Creation
Company Creation
• Innovation• Manage IP Assets• Aggregate IP Rights
• Mentoring• Networking• Strategic Planning• Market Focus
• Competitive Analysis• Legal
LaunchPad Teams
ExpectationsExpectations
• Business plan• Will not do an “equity only” deal• Equity must represent fair value for
the technology• Diligence terms in any license• If a UW employee is involved
Will not negotiate directly with employeeInvolvement must be approved
Possible RolesPossible Roles
• Leave of absence• Reduced appointment• Scientific Advisory Board• Consulting role with company
PathwaysPathways
• Option to licenseRaise moneyIdentify manager
• License agreementFinancial termsDiligence
• Combination – license pre-negotiated
New Policies for Outside New Policies for Outside ActivitiesActivities• Leadership of the Technology Alliance• Legislation sponsored by Governor Gregoire• Amendment to State Ethics Act
UW given the opportunity to develop polices that are within the federal guidelines to manage consulting and outside work that will facilitate technology transfer
• Clarify – enable• Additional flexibility with approvals for
outside work
New Policies for Outside New Policies for Outside ActivitiesActivities• Outside Professional Work Policy• APS 47.2 – Personal Use of University
Facilities• APS 47.3 – Outside Consulting
Activities and Part-Time Employment• GIM-10 – Significant Financial
Interest Disclosure Policy
Use of FacilitiesUse of Facilities• Allows de minimus use of university resources
when related to approved outside work or an activity related to technology transfer
• Clarifies previous law and enables day-to-day interactions
• Offices, telephones, computers, and UW email accounts can be used for certain outside work that is related to research and technology transfer
• Little cost to the university, does not interfere with normal operations, etc
• Caution still required – not all interactions are allowed
• To take advantage of this change – activity must be approved
Questions?Questions?
• Conflict of interest and GIM-10 - Office of Research
• Outside work - Academic Human Resources
James A. Severson, Ph.D.Vice Provost, Intellectual Property and Technology TransferUW TechTransferUniversity of Washington4311 11th Avenue NE, Suite 500Seattle, WA 98105
Voice: 206-543-0905Fax: 206-543-0586Email: [email protected]: http://depts.washington.edu/techtran/