I have an idea, now what! What’s the process? Todd Keiller- Director Intellectual Property and Innovation at WPI

disclosure Prior to any public disclosure External poster presentations are public

Prior art - what is out there already? http://www.searchrealfast.com Google patents Library

Evaluate the invention not only the strength of the IP, but The commercial potential!

Evaluate the invention Ask early on: N – what is the need out there? A – What is our approach? B- What is the benefit of our approach? C – who is the competition and how do we stack up against them? Source: Curtis Carlson, Practice of Innovation

File and manage the Ip Student choices based on a) invented all on your own, b) invented with significant WPI resources, and c) invented with WPI Faculty

File and manage IP A) invented on your own – 100% yours B) filed with significant WPI Resources – 99% yours C) filed with or as a WPI faculty – 50% yours

File and manage ip 1) Provisional patent 2) utility patent 3) PCT (patent cooperation treaty) – foreign filings.

What is patentable? Novel – must be new, not published* Non- obvious, i.e., unexpected results Patent disclosure – describe the invention Utility – must have a distinct practical use

Business Model Canvas – Steve Blank

License agreement Negotiate terms Monitor license for diligence

Moving to a commercial outcome

Fit with current R+D Plan? Often it is the inventor publication, contact at conference that initiates Tech transfer office marketing

Need a team that includes an entrepreneurial minded person WPI Tech Advisors Network (TAN) Focus on your value proposition and customer segments – and be prepared to pivot (a lot)!

financing a start up “FFF” is the largest source of initial financing SBIR/STTR – government small business innovation grants Internal “GaP” funds – ie WPI accelerator fund, UVM Ventures, SPARK! Angel funding Venture capital Strategic money from industry

WPI Comparison Disclosures Disclosures/ Licenses Licenses/$million Startups Startups/$million Licensing FTEs $ million of Research of research WPI 47 1.56 8 .26 3 .1 .8 Cal Tech 359 .86 55 .15 10 .023 6 M.I.T. 795 .49 124 .07 28 .017 23 RIT 18 .45 5 .12 2 .05 1 Stevens 66 2.2 12 .4 10 .33 2 CMU 473 1.9 61 .25 11 .04 6.5 AUTM* AVG .40 .10 *Association of University Technology Managers These data are from calendar 2015 AUTM survey, WPI is FY 2016 Note that in FY 2017 there are already 9 licenses and 6 startups, forecast at least 12 licenses and 7 startups

WPI start ups -2018 POWERHIVE* AM Batteries* Sports Engineering, Inc.* Kinetic Batteries Gweepi Medical Mobile Sense Technologies* * POWERHIVE* AM Batteries* ContexSure, INC*

NEXT IDEA COULD BE YOURS!

QUESTIONS? TODD KEILLER TKEILLER@WPI.EDU