Technology Transfer. Research Universities as Engines for Economic Development

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1 Technology Transfer Research Universities as Engines for Economic Development

2 Topics & Speakers 1. Technology Transfer Fundamentals Chip Hood (MUSC-FRD) 2. Technology Transfer in S.C. Chad Hardaway (USC IPO) 3. Technology Transfer Office Needs Joe Kolis (CURF)

3 Technology Transfer Fundamentals Chip Hood MUSC-FRD

4 Technology Transfer Fundamentals Ground breaking science (intellectual property) is converted into tangible products and services Spurs the creation of knowledge based economies Companies Jobs Fosters the recruitment and retention of entrepreneurial faculty Mandated by Bayh-Dole Act (federal funding)

5 Mechanics CoEE Univ. Research Discovery Evaluation & Protection (Patents) Marketing New Products Startup Licensing Jobs Established Company Tech Transfer Office

6 Background - Patents Patent: Provides exclusive rights in an invention (idea) Lengthy and expensive process Average time to Issue 5 years Initial Filing (1 year) $8,000-$12,000 International Application (18 months) National Applications (in each country) $6,000 >$100,000 Total cost for a US patent $20,000-$40,000

7 Licensing New Products Startup Licensing Jobs Established Company

8 Licensing License: permission to use university created intellectual property (patent) Consideration given to the University: Royalties on sales (% of net selling price) Up front payments, milestones, equity Payment of patent expenses Research Support (sometimes)

9 Does it work? For every $1 invested in technology transfer, the university receives >$6 of licensing income in return 1 Research Activity has a high rate of return A 10 point research score increase yields an additional $1.7M in license income Mind to Market, September 2006, Milken Institute

10 Technology Transfer in S.C. Chad Hardaway USC IPO

11 University Statistics for FY06 U.S. Universities expended +$45 billion on R&D in FY06 Managed 18,874 new invention disclosures Filed 15,908 total U.S. patent applications Saw 3,255 U.S. patents issued

12 University Statistics for FY06 Had 697 new products introduced to the market; Introduced more than 4,350 new products into the market in the nine years from Launched 553 new startup companies 5,724 new spinouts since 1980 Significant job creation

13 Impact of Bayh- Dole Act U.S. Patents issued from University discoveries: 1980: : 3,255

14 AUTM Survey Licenses Executed (FY06) Total Startups Small Companies Large Companies 4, ,416 1, % 15.4% 48.7% 33.2%

15 Academic Technology Transfer License Income in FY05: $1.9 Billion Added >$40B USD to the U.S. economy and supported 270,000 jobs Per a 1999 study

16 S.C. Research Universities FY 2006 Combined AUTM Data for South Carolina s Three Research Universities Research Expenditures Patent Apps Patents Issued License & Option License Income Startups $439,669, $3,459, FY08: ~$600M of research awards

17 S.C. Research Universities Combined COEE Data for South Carolina s Three Research Universities Invention Disclosures Provisional U.S. Apps U.S. Patent Apps U.S. Patents Issued Int'l. Patent Apps Active Licenses Licenses & Options Executed License Income Received Spin-Off Comp $ 298 K CURF MUSC USC Patent Expenditures $475 K $488 K $425 K

18 Benchmarking 2007 Fiscal Year Avg of Schools with Med CURF MUSC USC Research Expenditures ($10M) $31 $14 $16 $14 IP Disclosures New US Patent Apps US Patents Issued License & Options License Income $ 510, $ 198,000 $ 43, $ 21,525.0 Startups formed Patent Legal Expenses $ 48, $ 33, $ 25, $ 30,014.00

19 Nanoparticles Clemson University Selah Technologies Startup in Pendleton, S.C. 10 employees Closed on a $1.5M investment round

20 Implantable Vascular Coils Medical University of South Carolina Micrus Endovascular Startup formed in 1996 IPO and now trading at $13/share 319 employees

21 Optical Sensing University of South Carolina Startup in Columbia, SC $9 million in seed/ venture capital Sequoia capital on the West Coast 20+ employees Corp HQ/ R&D in Columbia, S.C.

22 Technology Transfer Needs Joe Kolis CURF

23 S.C. Research Universities Combined COEE Data for South Carolina s Three Research Universities Invention Disclosures Provisional U.S. Apps U.S. Patent Apps U.S. Patents Issued Int'l. Patent Apps Active Licenses Licenses & Options Executed License Income Received Spin-Off Comp $ 298 K CURF MUSC USC Patent Expenditures $475 K $488 K $425 K

24 The Process Research Disclosure Patent protection Money out of TTO (about $450K/yr at present) Marketing Licensing Development Commercialization Royalties

25 Business Model Costs - Very cash intensive and front end loaded Legal Fees Marketing costs Rewards - All back end loaded and often not cash License income Royalties Equity Job creation Grant Support to Parent University Prestige

26 A Percentage Game Approximately 15-20% of all disclosures are licensed Many of those pay few if any royalties Not(!) Exclusive to Universities Proctor and Gamble commercializes 15% of its patents More chances mean more commercial activity

27 Shortcoming Each SC Research University - $150MM year in research expenditures Each spends about $450K/yr on IP protection National average of ALL Universities on IP protection is about $48K/$10MM in research expenditures Thus to be at the national average each SC Research University should already be spending about $720K on IP protection The CoEEs will create a dramatic increase in IP

28 The Concern Research Disclosure Patent protection Money out of TTO (More than now) Marketing Licensing -Some money back to TTO Development Commercialization Royalties - Money back to TTO

29 The Concern Research Disclosure Patent protection Money out of TTO (More than now) Marketing Licensing Development Commercialization Royalties

30 The Ask To maximize the possibility of commercialization of IP generated by the CoEEs, TTO s would like to patent and market as much IP as possible We request $250K/year for the next five years for each Research University Technology Transfer Office for protection and commercialization of Intellectual Property

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