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2. Bridging the Technology Commercialization Gap R&D Institutions Mission Commercial Sector Basic Research Applied R&D Business Development Full-Scale Commercialization
Source: Technology Commercialization OfficeUniversity of Utah 3. Opportunity & Challenge
Source: Technology Commercialization OfficeUniversity of Utah 4. WHATS REALLY HAPPENING?
Source:Technology Commercialization OfficeUniversity of Utah 5. The Case for University Spin-Outs
2.Less likely to fail Rate of Going Public Failure Rate Source:Technology Commercialization OfficeUniversity of Utah .07% 6. Start-up Activity Source: Technology Commercialization OfficeUniversity of Utah 7. Number Start-ups: US Universities - 2007 Source: Technology Commercialization Office University of Utah 8. Start-up Activity (by industry sector) Source: Technology Commercialization Office University of Utah 9. CRITICAL QUESTIONS
Source: Technology Commercialization Office University of Utah 10. Most Challenging aspects for TCOs Source: Technology Commercialization OfficeUniversity of Utah
11. Seed Capital hasnt recovered Source: Technology Commercialization Office University of Utah 12. Traditional Funding Continuum VALUATIONS INCREASE BUSINESS RISKS DECREASE MENTORING NEEDS DECREASE $5M-20M $500K-5M $50K-500K >$20M Sweat Source: Technology Commercialization OfficeUniversity of Utah SEED/START-UP FUNDING DEVELOPMENT FUNDING EXPANSION FUNDING OPPORTUNITY DEVELOPMENT CONTINUED GROWTH ANGELS,FOUNDERS & SEED FUNDS VENTURE CAPITAL GROWTH EQUITY PE - PUBLIC MARKETS 13. Strong need for a new model Opportunity For Alignment Source: Technology Commercialization OfficeUniversity of Utah Stage Pre-Seed Seed/Start-Up Funding Gap between $100,000 and $2,000,000 Early Later Source Founders, Friends and Family Individual Angels Venture FundsInvestment $25,000 to $100,000 $50,000 to $150,000$2,000,000/$5,000,000 and up 14. Information courtesy of, and used with permission from, Excell Partners, Inc 15. Information courtesy of, and used with permission from, Excell Partners, Inc 16. Information courtesy of, and used with permission from, Excell Partners, Inc 17. Information courtesy of, and used with permission from, Excell Partners, Inc 18. Information courtesy of, and used with permission from, Excell Partners, Inc 19. Information courtesy of, and used with permission from, Excell Partners, Inc 20. Information courtesy of, and used with permission from, Excell Partners, Inc 21. 50/50 Information courtesy of, and used with permission from, Excell Partners, Inc 22. Information courtesy of, and used with permission from, Excell Partners, Inc 23. Information courtesy of, and used with permission from, Excell Partners, Inc 24. TAKE HOME POINTS
25. Where do Tech Transfer Offices Start?
26. The Initial Want List
27. University Alignment 28. New Company Formation Source of Equity Funds Typical Year 29. Angel Organizations:
30. Reasons For An Angel Organization
31.
1 HIgh due diligence was defined as > 20 hours spentSource:Kauffman Study: Returns to Angel Investors in Groups , 2007 Average Return Impact High 1due diligence: 5.9X Low due diligence: 1.1X High experience vs. low experience nearly 2X improvement:High participation: 3.7X Low participation: 1.3X 32.
Source: www.icic.org - 2007 The 10 highest-performing secondary cities in the U.S. (ranked by number of private equity deals per city) are (1) Boulder, Colo., (2) Salt Lake City, (3) Westborough, Mass., (4) Ann Arbor, Mich., (5) Norwalk, Conn., (6) Providence, R.I., (7) Southborough, Mass., (8) Stamford, Conn., (9) Melbourne, Fla., and (10) New Haven, Conn. 33. Post- Bubble Seed Capital Source: Venture Source, NASVF 34. Why a Venture - Seed model is critical
35. Lessons Learned
36. SCF/CNY invests in and helps guide early stage companies in Upstate New York.Our goal is to create wealth for investors and assist with the regions transition to a successful, high-tech, high-growth economy. www.scfcny.com EXCELL PARTNERSRANUVANYBFLO ANGELSCVFBINGHAMTON OTTKAUFMANN FOUNDATIONSIMON SCHOOL ..