1. Executives - in- residences Presenter Troy D’Ambrosio www.troy.dambrosio@business.utah.edu Director Lassonde New Venture Development Center www.lassonde.utah.edu

2.  Students develop commercialization plans for U of U technologies  Unique experiential education  20 graduate students  Job market springboard  2-3 new companies/yr Management gap Lassonde Center teams helped start 28 University of Utah spinoff companies! Lassonde Center 08-09 Pierre & Claudette McKay Lassonde New Venture Development Center

3.  Veritract, LLC  CAT, LLC  Akadi LLC  GlycoMira  RU Ready  Trapeze Software  Headwaters Clear Carbon Services  Larada Inc.  Lineagen Inc.  Rescue Medical Systems Inc.  Thermimage  Carbalyn  Glycosan  Heightened Technologies  Sentrx Surgical  Visual Share LLC  Wasatch Microfluidics  Xapio  Visual Influence U of U startups from the Lassonde Center include:

4. Entrepreneur-in-residence v1.0  Lineagen, Inc. – Molecular diagnostic company Started as a non-profit ($3.4M funding from state) o CEO and staff Lassonde Center developed non-profit plan o Commercial sponsored research $$ Commercial opportunity identified and plan put together o Spun out into for profit o Additional University support $250K o Active involvement in company  Successful Series A - $5.4 M

5. Technology Venture Development Office created 2005  Commercialization function moved  Dean of Business School  Focus on commercialization – out of the shadow of research  More of everything including start ups

6. Startup Companies  100+ in 5 years

7. Entrepreneur-in-residence v 2.0  Victims of our own success Lack of management becomes a rate limiting step  Expanded executive-in-residence program to meet need Non-paid entrepreneurs/business community members o Started with 30 grows to over 100 3 - 4 meetings per year Match making process o Preview 2 – 3 start up companies o Ask for expressions of interest – Do you want to be the CEO? Part-time program manager brought in

8. Other support needed  Funding support Direct grants, SBIR grant support Seed fund(s) Close ties to VCs  Licensing managers  Venture Bench Incorporation, websites, logos, insurance, CFO, Corp. Secretary  Faculty out reach  Faculty mentors

9. Entrepreneur-in-residence v 2.0 Some successes  New lie detection technology Presented to EIR EIR member sponsored presentation to Angel group o No management o No funding Two Angels express interest o Multiple meetings o License negotiations o Venture Bench o Grant funding

10. Entrepreneur-in-residence v 2.0 Some failures  Educational software (math tutorial) Presented to EIR EIR member that knew that space o Grant support o Institutional support and use Oil and water don’t mix o Quirky PI o Blunt entrepreneur Start over – same result - too much time

11. Entrepreneur-in-residence v 2.0  Many just stall – no takers  Did not fill our management “gap Unforeseen benefits - great point of contact  Impediments to success Difficulty of task – early stage company, money, time etc. Unaligned expectations – looking for a job, want to dabble, etc. University environment - slow Lack of true start-up experience Diversity of technology – lack expertise in some areas Quirky PI’s

12. We also learned – Active support and direct involvement does work

13. CO2 storage site for multiple power plants Lassonde Associates – Market research – Business model – Identified Headwaters as the strategic partner Joint venture between the University of Utah and Headwaters Incorporated First USTAR company The carbon sequestration intellectual property developed at the U of U allows greenhouse gasses to be permanently stored and monitored deep under the earth’s surface.

14.  40,000 misplaced feeding tubes  6,000 deaths  Real-time vision, full articulation, tube steering and a fluid pathway  Lassonde Associates market research, business plan, management  Company form & funding Properly placed feeding tube. Misplacement of feeding tube into the lung.

15. Entrepreneur-in-residence v 3.0  Embedded entrepreneurs 2-3 fulltime university employees Portfolio of 2-4 companies Act as CEO – raise money, product development, hire management Go with company or stay at university?

16. Accelerator/ Software Development Center  The Software Development Center manages Commercializes software and digital media technologies Resource - medical imaging, gaming, energy exploration, modeling, healthcare, bioinformatics  The Medical and Biotechnology Accelerator 10,000 square feet of office and lab space Rapid prototypes

17. Thank you