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

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” ( ) Result: a scholarly underpinned process -- TEC History

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

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 The Process or “Algorithm”

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

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

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

Yes Determination Determination of Strategic Factors Analysisof Core Assets StrategicComponents AnalysisofComplementaryAssets CommercialStrategyBusinessProposal Decision Reject Iterate Back Provides a decision making process leading to the commercialization strategy and the business proposal. Commercialization Strategy Development

The Top Line has to “make sense” for an opportunity to exist.

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 CORETechnology Business Plan Legal Services Accounting Services Mgt Team Outsourcing IP Mgt Marketing Research Facilities Mgt Building the Emerging Case Creating the Business Proposal

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

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

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

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

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

Phone: Fax: North Carolina State University Campus Box 7229 Raleigh, NC Roger Debo Director TEC Program