Georgia Tech’s VentureLab9/20/07 Georgia Tech’s VentureLab 9 VentureLab • Founded Sept 2001...
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Georgia Tech’s VentureLab Stephen Fleming Chief Commercialization Officer <[email protected]> © 2007, Georgia Institute of Technology
Transcript of Georgia Tech’s VentureLab9/20/07 Georgia Tech’s VentureLab 9 VentureLab • Founded Sept 2001...
Georgia Tech’s VentureLab
Stephen FlemingChief Commercialization Officer
© 2007, Georgia Institute of Technology
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Stephen Fleming
• 10+ years investment experience.– General Partner, Alliance
Technology Ventures.
– 18 investments as leadinvestor, 15 exits to date.
• BS, Physics, Ga. Tech (Highest Honors).
• 15 years operational experience at AT&T Bell Labs,Nortel, LICOM (venture-backed startup).– Supervised startups developing first ADSL modem and one of
the first cablemodems in early 1990s.
• Multiple advisory boards at Georgia Tech; endowedchair in telecomm; occasional instructor in MBAentrepreneurship program.
• Strong regional technology leader.
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National Rankings
U.S. News & World Report, America’sBest Engineering Graduate Schools 2007
http://www.usnews.com/usnews/edu/grad/rankings/eng/brief/engrank_brief.php
10. California Institute of Technology (CalTech)
9. University of Southern California (USC)
8. Carnegie Mellon University
tie University of Michigan — Ann Arbor
6. Purdue University
5. University of Illinois — Urbana-Champaign
4. Georgia Institute of Technology
3. University of California — Berkeley
2. Stanford University
1. Massachusetts Institute of Technology
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Patent Ranking
U.S. Patent & Trademark Office,Calendar Year 2005
# patents
Cornell University4110.University of Pennsylvania43tieGeorgia Institute of Technology439.Columbia University578.University of Florida647.University of Michigan71tieJohn Hopkins University716.University of Wisconsin775.University of Texas90tieStanford University904.California Institute of Technology1013.Massachusetts Institute of Technology1362.
1. 390 University of California (system)
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“Innovation U.” Report
“Virtually every combination of industry relationship oreconomic development activity can be found at GeorgiaTech, and in a very real sense, the university is an operatingpartner with Georgia state government in theimplementation and management of a variety oftechnology-focused initiatives. Perhaps more than anyother research university in North America,economic development is an integral, criticalcomponent of the mission of the Georgia Instituteof Technology, and this has been true from itsvery inception.”
– Southern Growth Policies Board, 2002
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Building an Ecosystem
Nutrients
Signsof Life
GrowthIncubation
Renewal
NaturalSelection
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Natural Selection
• Intellectual propertyprotection (OTL)
• VentureLab
• GRA Phase I and IIawards
• GT Edison Fund
• SBIR AssistanceProgram
Commercialization Services
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Intellectual Property Goals
• Reward the faculty for creation of valuable IP
• Support innovation
• Strengthen research programs
• Strengthen global reputation
• Attract top-quality faculty & students
• Fulfill tech-transfer obligations
• Add value to intellectual property
• Strengthen industry relationships
• Create successful entrepreneurs
• Strengthen local technology community
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VentureLab
• Founded Sept 2001 — a model for otheruniversities– Faculty-focused process– Risk identification and mitigation for venture-
backable innovations
• Money– Pre-seed funding available through the Georgia
Research Alliance– Access to wide network of professional venture firms
• Management– Matching opportunities with skilled and experienced
managers
• Goal: Successful startup companies based onGeorgia Tech research
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VentureLab Graduates
May 2007
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VentureLab Lessons
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VentureLab Lessons
• Teaching a professor how to be anentrepreneur is like teaching a cat to swim:– It can be done.
– You will lose blood.
– You’ll never be satisfied with the results.
– You will annoy the cat.
• Different motivations, different priorities,different views of “proper procedure”
• Best bet: Recruit an entrepreneur to workwith the professor. 1+1=3.
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VentureLab Lessons
• “Are entrepreneurs born or made?”
• The answer is: both!
– Certain personality traits are innate.
– Many skills can be taught.
• Our job: Identify the right people, thenmake sure they have the right skills.
– Coaching, training, mentoring…
• Access to resources and community
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VentureLab Projects (current)
<http://www.gtventurelab.com/sites/venturelab/visitors/
default.aspx> Login as ‘VL’, password ‘vl’.
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Building an Ecosystem
Nutrients
Signsof Life
GrowthIncubation
Renewal
NaturalSelection
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For Further Information
Stephen Fleming
Chief Commercialization Officer
Georgia Institute of Technology
<http://innovate.gatech.edu/commercial/>
(404) 385-2360
