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Implementing UT’s Global Technology Commercialization Program in Bulgaria May 2016.

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Presentation on theme: "Implementing UT’s Global Technology Commercialization Program in Bulgaria May 2016."— Presentation transcript:

1 Implementing UT’s Global Technology Commercialization Program in Bulgaria May 2016

2 Education Research Development Global Commercialization Close to 220 thousand students and 20 thousand faculty Number 28 in the world (The World Universities Rankings) Largest campus is UT-Austin with 50,000 students from 126 countries UT’s endowment of 25 Billion (2 nd largest after Harvard) UT Austin : $600 million pert year in sponsored research UT’s Mc Combs School of Business ranked number 7 for entrepreneurship

3 Entrepreneurial Wealth Creation 85% of companies receive funding 250+ Alumni companies $ 1 Billion raised while in ATI, $600+ M in exits $880 Million economic impact 6,500 jobs created (from ‘03 to ‘12) Programs in 19 Countries Over $1 Billion impact since launch Over 1000 innovations evaluated Over $300 Million of indirect economic impact

4 2016 goal: Add Bulgaria and France

5 Local Partners EU Funds Universities Sofia Tech Park Incubators Accelerators Research Centers Companies INNOVATIONSINNOVATIONS Training Market Research Primary Research Detailed Reports Business Deals WEALTHWEALTH

6 Local Partner Program Sponsor Universities Sofia Tech Park Incubators Accelerators Research Centers Companies INNOVATIONSINNOVATIONS Joint selection of companies through the phases of the UT Process We are seeking Corporate & Private Sponsors in Bulgaria Training Market Research Primary Research Detailed Reports Business Deals WEALTHWEALTH

7 A proven approach from the top university in the highest growth State in the USA Tech Briefs Entrepreneur Work Shop QuickLook Report® Elevator Pitch Presentation Skills

8 Selection process at each phase: Consensus rating on many criteria, based on research, interviews and documentation Gate 1: Application review Around 20 criteria about: Gate 2: Deep Dive review Around 50 criteria about: Gate 3: QuickLook™ review Around 40 criteria about: Approximately half of the companies get selected at each phase Selection criteria refined over decades, resulting in higher probability of success !!

9 Training & Selection 2007-2014

10 Cumulative revenue turnover of participant companies during 2010–2012 exceeded $224M. Total revenue of participant companies $800+ M by end of 2015 (Domestic and Abroad) Most of the participant companies had zero revenue when they were selected by the IIGP Example of results: INDIA

11 Example of clients satisfaction KOREA

12 Example of program longevity: MEXICO

13 Example of a longer sales cycle success Company: ISD (IP on Tool management systems for aerospace industry) Thanks to GCG, maintenance Squadron at Dyess Air Force Base has been relying on ISD’s solutions for 5 years

14 Example of early stage innovations (CHILE) UT screened the 18 incubators that existed in Chile, and selected 9 (Jointly with Partner) CORFO later used IC2 certification as a criteria for priority funding for incubators 50 incubator managers and many entrepreneurs trained 58 new technologies from research centers screened (no company formed yet) 21 jointly selected by UT, CORFO and Incubators 12 QuickLooks™, 8 selected for Business Development Result: Business Agreements for 5 of the companies, one entrepreneur received funding to complete development in the U.S. Corporación de Fomento de la Producción

15 Other examples (various programs) (SME’s): Antibiotic Adjuvant  Market Access: South Africa  Deal: Licensing agreement with the fastest growing pharma distributor in S.A.  Incremental Revenue forecast: USD$9.7 - $13.1 million.  Enterprise Value est. growth +USD 40 million. (Start-up): Mobile Devices Screen Protective Film  Market Access: USA  Deal: OEM manufacturing contract with multinational.  First P.O. for 2 models USD$1.1 million  Total Invested Equity ROI form 1 st P.O.= +31%  12 month incremental revenue forecast: USD$5 -7 million (Green Field Technology): Green Permanent Electromagnet  Market Access: USA  Deal:.Space Act Agreement with NASA

16 Summary of the GCG Global Technology Commercialization Process Only GCG goes further and utilizes its findings from innovation discovery and market research work to contact international parties and facilitate agreements, partnerships, or sales for the innovator.

17 There is a strong universal consensus in Bulgaria that a comprehensive program is needed to boost innovation and global technology transfer. Leaders in Academia, industry and Government all agree on the need. The University of Texas (UT) has successfully deployed such programs in 19 countries already. A broad program could involve: An assessment of the regulatory framework in Bulgaria and recommend changes to enhance innovation and entrepreneurship An assessment of the state of the innovation infrastructure (Sofia Tech Park, Incubators, Accelerators, Technology Transfer Offices, VC and PE funds, etc.) and improvement recommendations The analysis, evaluation, training and selection of many Bulgarian innovations (ranging from University Research to startups to established Bulgarian companies, to Bulgarian subsidiaries of foreign companies) The identification of business opportunities and the negotiation of business deals worldwide for the selected companies. The above program will likely cost $2 Million to $3 million (and produce much more in economic impact), and will need to be funded by the E.U. Several foreign embassies and chambers of commerce, as well as the Bulgarian Member of the EU Parliament for Innovation are willing to help secure these funds, but it will take over 2 years. Because UT is solicited by many other countries, it cannot afford to wait that long. VUZF University is working with UT to secure funding for a smaller short term program to keep Bulgaria on UT’s radar screen.


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