© 2009, Georgia Institute of Technology Entrepreneurial Opportunities for Georgia Tech Students Stephen Fleming Chief Commercialization Officer

24/22/09Technology Commercialization at Georgia Tech Stephen Fleming 14+ years venture capital investment experience. –General Partner, Alliance Technology Ventures. –18 investments as lead investor, 15 exits to date. BS, Physics, Ga. Tech (Highest Honors). 15 years operational experience at AT&T Bell Labs, Nortel, L ICOM (venture-backed startup). –Supervised startups developing first ADSL modem and one of the first cablemodems in early 1990s. Multiple advisory boards at Georgia Tech; endowed chair in telecomm; occasional instructor in MBA entrepreneurship program. Strong regional technology leader.

34/22/09Technology Commercialization at Georgia Tech National Rankings U.S. News & World Report, America’s Best Engineering Graduate Schools Massachusetts Institute of Technology 2. Stanford University 3. University of California — Berkeley 4. Georgia Institute of Technology 5. University of Illinois — Urbana-Champaign 6. California Institute of Technology (CalTech) 7. Carnegie Mellon University 8. University of Southern California (USC) 9.Cornell University tieUniversity of Michigan — Ann Arbor

44/22/09Technology Commercialization at Georgia Tech National Rankings U.S. News & World Report, America’s Best Engineering Graduate Schools 2008 Strength across the board! Aerospace#4 Biomedical#2 Chemical#13Industrial#1 17 years! Civil#6Materials#8 Computer#7Mechanical#7 Electrical#6Nuclear#9 Environmental#6Petro/Miningnot offered

54/22/09Technology Commercialization at Georgia Tech GT Research Distribution Over half a billion dollars total R&D on campus for FY2009! College of Engineering GTRI College of Sciences Research Centers College of Computing Other

6 # patents 1390University of California (system) 2136Massachusetts Institute of Technology 3101California Institute of Technology 490Stanford University tie90University of Texas 577University of Wisconsin 671John Hopkins University tie71University of Michigan 764University of Florida 857Columbia University 943Georgia Institute of Technology tie43University of Pennsylvania 1041Cornell University 4/22/09Technology Commercialization at Georgia Tech Patent Ranking U.S. Patent & Trademark Office, Calendar Year 2005 (last year available)

74/3/09Technology Commercialization at Georgia Tech IP Mgmt./Evaluation Invention Disclosures Dept. Chairs / Deans / GTRI Technology Evaluation Path? Rights to Faculty? Initiate IP Prot. Need more information / development Market Evaluation Technology Analysis Protect IP? Market Analysis Patent Application External Counsel $...continued Export Control Industrial Contracts Screens Responsibility GTRC EI2 / CS $$

84/3/09Technology Commercialization at Georgia Tech IP Business Development Rights to Faculty? VentureLabTech. Marketing Path? Startup / SpinoutIndustrial License Consulting Georgia Research Alliance $ Licensee? Rights to Faculty? Funding & CEO? Term Sheet Negotiation Rights to Faculty? License Negotiation Compliance Review Standard Templates...continued Responsibility GTRC EI2 / CS Marketing White Paper External Counsel Business Plan Conflict of Interest Plan Standard Templates COI Review

94/3/09Technology Commercialization at Georgia Tech Royalty Collection Monitoring Compliance / Litigation Patent Maint. & Defense IP Licensing/Compliance License Negotiation Startup / SpinoutIndustrial License Startup Formed Incubator? Successful Startup ATDC Industrial Partner Responsibility GTRC EI2 / CS Distribution of Payments Inventor(s) Academic Department(s) GTRC Portfolio LIquidation $ Royalties & etc.Equity

104/3/09Technology Commercialization at Georgia Tech IP Business Development VentureLab Rights to Faculty? Tech. Marketing Path? Startup / SpinoutIndustrial License Consulting Georgia Research Alliance $ Licensee? Rights to Faculty? Funding & CEO? Term Sheet Negotiation Rights to Faculty? License Negotiation Compliance Review Standard Templates...continued Responsibility GTRC EI2 / CS Marketing White Paper External Counsel Business Plan Conflict of Interest Plan Standard Templates COI Review

114/22/09Technology Commercialization at Georgia Tech VentureLab Founded September 2001 –Now a model for other universities –Part of Enterprise Innovation Institute Reports up through Office of the Provost Faculty-focused process –Risk identification and mitigation –Venture-backable innovations Goal: Successful startup companies based on Georgia Tech research

124/22/09Technology Commercialization at Georgia Tech VentureLab Market Milestones Meetings Management Money

134/22/09Technology Commercialization at Georgia Tech MBA Students Paid and unpaid internships Assistance with market segmentation, competitive analysis, pricing, and other business planning tasks. Yes, some become founders!

144/22/09Technology Commercialization at Georgia Tech Management

154/22/09Technology Commercialization at Georgia Tech Dealing with Universities Teaching a professor how to be an entrepreneur is like teaching a cat to swim: –It can be done. –You will lose blood. –You’ll never be satisfied with the results. –You will annoy the cat. Different motivations, different priorities, different views of “proper procedure” Best bet: Recruit an entrepreneur to work with the professor. 1+1=3.

164/22/09Technology Commercialization at Georgia Tech Money Assistance with small- business grants from eleven Federal agencies. Grants and loans to startups based on Georgia university research. Equity investments in startups with a connection to Georgia Tech.

17 ✓ 4/22/09Technology Commercialization at Georgia Tech VentureLab Market Milestones Meetings Management Money

184/22/09Technology Commercialization at Georgia Tech VentureLab Projects (current)

194/22/09Technology Commercialization at Georgia Tech VentureLab Graduates April 2009 Axotech

209/17/2008Commercialization of Student Projects Who Owns Your IP? The Student Handbook states that any student enrolled at Georgia Tech is subject to the Institute’s Intellectual Property Policy. If any intellectual property is conceived or developed by a student during the performance of their course work, title to the intellectual property resides with GTRC. Student inventors enjoy the same rights and benefits as do faculty and staff inventors. –Including access to VentureLab!!!

However... GTRC is in the business of complying with all relevant contractual obligations, state and Federal laws, tax regulations, export control agreements, etc., etc., etc… GTRC is not in the business of stifling student innovation. 219/17/2008Commercialization of Student Projects However…

229/17/2008Commercialization of Student Projects Section 50.6(D) In addition, ownership rights to Intellectual Property developed by GIT faculty, staff or students shall reside with the Creator of such Intellectual Property provided that: –(1) there is no use, except in a purely incidental way, of GIT resources in the creation of such Intellectual Property (unless such resources are available without charge to the public); –(2) the Intellectual Property is not prepared in accordance with the terms of GIT contract or grant; and –(3) the Intellectual Property is not developed by faculty, staff or students as a specific institution assignment as discussed in 50.6 B above. The nature and extent of the use of GIT resources shall be subject to GIT regulations. When there are multiple Creators, some or all may have ownership rights subject to the tests described above, but the parties are encouraged to enter into a mutually signed written agreement to clarify their respective rights and responsibilities, in accordance with guidance in Section The Fine Print

239/17/2008Commercialization of Student Projects And Remember! Intellectual property is (usually) not: Designs Ideas Concepts Drawings Suggestions

249/17/2008Commercialization of Student Projects What Does That Mean? After disclosure, GTRC will apply multiple tests to your technology: Does the disclosure constitute protectable intellectual property? Was it based on sponsored research at GT? Was it supervised by a GT professor? How closely? Was the work conducted in GT laboratories? Does it rely on GT background IP? Are there co-inventors (inside or outside GT)? Have they signed an agreement? Are there other factors in play?

259/17/2008Commercialization of Student Projects What to Expect GTRC will normally take about two weeks to review your disclosure. If none of the tests are triggered, your work may be deemed “Individual Effort.” A waiver letter will be prepared stating that GTRC assigns all intellectual property rights back to the individual inventor(s). Klaus Advanced Computing Building

264/22/09Technology Commercialization at Georgia Tech For Further Information Stephen Fleming Chief Commercialization Officer Georgia Institute of Technology Personal blog: Project database and staff blog: (404) Download this file at