Technology Entrepreneurship & Commercialization Developing the next generation of Entrepreneurs and the High Growth companies of tomorrow.

… And in the beginning it was written – go forth and start companies!!!

A process-based approach for turning technologies into business opportunities

History COSEPUP Report: “Reshaping the Graduate Education of Scientists and Engineers,” NAS/NAE, 1995 NSF / KIETS Grant: “Technology, education, and commercialization: Development of new concepts in integrated education” (1995-1999) Result: a scholarly underpinned process -- TEC

Entrepreneurs and Business Community Rationale for TEC: Bridge the Gap between Research and Commercial Application Resources Commercialization Resources Research Resources “Valley of Death” Research Faculty and Students Level of Development Entrepreneurs and Business Community

The Process or “Algorithm” Method for crossing the ‘Valley of Death’ Roadmap for commercialization Process for information gathering and business opportunity development Strategic Decision Framework Common language and shared goals

Transform Technology into Products/Services Science & Technology The TEC Algorithm Transform Technology into Products/Services Concepts Evaluate Opportunity Strategy Development & Implementation Startup

Description/Ideation Collect Further Info Product Idea Prioritization & Summarization Market Description Ph 1 Product Definition Refinement Idea Generation Further Technical Development Technology Description Worksheet Initial TPM Worksheet Product Attribute Worksheet PAMM Summary TPM Worksheet Decision The objective of the Ideation phase is to develop a set of prioritized product concepts with strong T-P-M linkages

Phase 1 & 2 Assessments Idea Phase II Reject or Retain for Product Definition Confirmation Functional Assessment Strategic Assessment Decision Product Redefinition Phase II Reject or Retain for Further Refinement Phase 1 Objectives: To eliminate product ideas (not technologies) based on fatal flaws Phase 2 Objectives: To build the business case

Commercialization Strategy Development Iterate Back Commercial Strategy Business Proposal Determination of Strategic Factors Analysis of Complementary Assets Analysis of Core Assets Strategic Components Decision Yes Reject These are the steps we will follow to develop a viable and sustainable strategy and business plan. We will be creating both an Entry and Expansion strategy during this phase. Provides a decision making process leading to the commercialization strategy and the business proposal.

The Top Line has to “make sense” for an opportunity to exist. The focus throughout will be on building an opportunity. We can manage the ‘bottom line’, but only if there is a significant top line. This is what we must verify for ourselves and our potential investors. Without a compelling Top Line, there is no business.

Creating the Business Proposal Putting the components together: ensure that the core technology is commercially viable identify required complementary resources make partnering, leveraging, and acquisition decisions regarding essential assets networking and placement of opportunity with partners & investors IP Mgt Business Plan Marketing Research Legal Services CORE Technology Accounting Services Outsourcing Facilities Mgt Mgt Team Building the Emerging Case

Student Engagement Graduate Business, Engineering and Science students are placed in multi-disciplinary teams Each team is assigned a portfolio of technologies and a team of Executives-in-Residence as mentors Students apply the TEC Algorithm to their portfolios as they learn each phase The final product is a Business Plan suitable as the basis for launching a new, high growth venture

Everyone is Out of their Comfort Zone Business Uncertainty Incomplete Information Risk Scientists & Engineers Algorithm provides: Structure Lexicon Something to believe in Others

Program Environment Provide incentive – start company Align goals and rewards – grade on decisions Provide support – mentors

Team Based Structure Self-directed Grade based on decisions made Roles assigned and changed Mentors

Student Impact Encourages alertness to entrepreneurial opportunities among graduate scientists and engineers. Enables career advancement - TEC graduates have gone on to become entrepreneurs, business leaders and company founders. Provides valued skills that lead to advancement and promotion within organizations.

Local Impact Responsible for attracting $200+ Million of Venture Capital to Triangle companies Over 350 new jobs created 250+ graduates of the program Consulting and Training in Fortune 500 companies Adoption of the processes by large corporations

12+ Years of Experience and Results MYCOSOL Start-ups and Licenses Created or Supported Known Start-ups by TEC’s Graduates Cronos

Diffusion of the TEC Approach Universities University of Cape Town University of Aveiro Instituto Superior Técnico Ohio State University Universidade do Minho Universidade do Novo Loughborough University Universidade do Porto University of Ljubljana Universidade de Coimbra Dublin City University Universidade Técnica de Lisboa Escola de Gestão do Porto Universidade Católica Portuguesa Deadeok Innopolis Venture Assoc

North Carolina State University Roger Debo Director TEC Program North Carolina State University Campus Box 7229 Raleigh, NC 27695-7229 Email: Roger_Debo@ncsu.edu Phone: 919.515.5717 Fax: 919.515.9813