Attracting Venture Capital Investment in a University Spin ... · Spin-off Company Attracting...
Transcript of Attracting Venture Capital Investment in a University Spin ... · Spin-off Company Attracting...
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PÉCSI TUDOMÁNYEGYETEM, KUTATÁSHASZNOSÍTÁSI ÉS TECHNOLÓGIA-TRANSZFER KÖZPONT
Danube Innovation Partnership
WIPO Inter-Regional TTO Meeting
Budapest
15 Sept 2015
Attracting Venture Capital Investment in a University
Spin-off Company
Attracting Venture
Capital Investment in a
Timea Molnar MD MBA
Spin-off Company
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University of Pécs János Szentágothai Research
Centre nearly 30.000 students, 2.000 researchers, 21
doctoral schools and 10 faculties
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Technology Transfer Office
Established in 2005
Mission:efficiently connect the knowledge base of our university to the innovation process
Staff: 3 IP lawyer and 2 innovation manager
www.innovation.pte.hu
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The spin-out company
Humeltis the lung tissue company “Scaffold-free” engineered human 3D lung tissue
IP – Patents (2008), know-how
Established in March 2014
Founder: Prof. Judit Pongrácz PhD
leadership: CEO, CSO
www.humeltis.com
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Investment
„Humeltis was funded by Prof. Judit Pongrácz together with Biggeorges-NV Equity/X-Ventures, a venture fund and the two parties are the major shareholders.” (Humeltis webpage)
Investment: 1. round 75 M HUF, 2. round 100 M HUF
VC: X-Ventures (Budapest)
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University spin-out company
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Recipe for success
Take:
1. Promising technology (patent, publications)
2. Motivated researcher
3. Tech transfer manager
4. Investment advisor
5. Nice chemistry
6. University support and approval
7. Luck
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Top 10 lessons learned
1. Too early stage in product developement
2. Real management – crucial
3. Strongly needed: passionate, committed CEO
4. Researcher (motivation, personality, future plans, committments)
5. Lack of proof of concept fund
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Top 10 lessons learned
6. Too early to turn to VC
7. University and market - very far from each other
8. Importance of mission, vision, values, objectives, policies
9. Chemistry need for team work
10. Have to unleash sometimes
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To brigde the gap…
university market
Source: Blue Ocean Strategy by W. Chan Kim & Renée Mauborgne
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PÉCSI TUDOMÁNYEGYETEM, KUTATÁSHASZNOSÍTÁSI ÉS TECHNOLÓGIA-TRANSZFER KÖZPONT
H-7622 Pécs, Vasvári Pál utca 4.
Telefon: +36 72 501-500
E-mail: [email protected]
innovacio.pte.hu
Thank you for your attention