K.U.Leuven Research & Development: A model for exploitation of academic research K.U.Leuven...

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Transcript of K.U.Leuven Research & Development: A model for exploitation of academic research K.U.Leuven...

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  • K.U.Leuven Research & Development: A model for exploitation of academic research K.U.Leuven Research & Development Edwin ZIMMERMANN edwin.zimmermann@lrd.kuleuven.be www.kuleuven.be/lrd
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  • K.U.Leuven: facts & figures K.U.Leuven founded in 1425 30.455 students with 12,4% international students 16.189 employees 1.396 professors & 3. 891 researchers 2.730 administrative and technical staff 8.172 employees at the University Hospital (UZ Gasthuisberg) Research expenditures (2003 figures): 201 million EUR (+13,6% compared to 2002) of which 40,6 million EUR (20,2%) contract research through K.U.Leuven R&D Complete university: 14 faculties Humanities, Exact Sciences, and Biomedical Sciences
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  • K.U.Leuven R&D Research Divisions: 600 researchers (2003) Industry Contract Research IPR & Licensing Spin-offs & Regional Development K.U.Leuven R&D K.U.Leuven K.U.Leuven Research & Development founded in 1972 central multidisciplinary staff of 27 people operated as a business unit to promote and support knowledge & technology transfer to the university
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  • Activities Contract Research negotiation & legal support with respect to research contracts between university and industry Management of Intellectual Property Rights an active patent and licensing policy is pursued Creation of Spin-off Companies professional advice and support is provided to academic entrepreneurs Promotion of High-Tech Entrepreneurship both within university and in region
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  • Spin-off creation Support? awareness creation & knowledge transfer development of business plan finding investors: Gemma Frisius Fund K.U.Leuven finding infrastructure university labs, Innovation & Incubation Centre, science parks negotiation & legal support drafting bylaws, shareholder agreements and co-operation agreements supporting growth and internationalisation process participation in Board of Directors portfolio management is crucial support innovation & high-tech entrepreneurship through networking and technology clusters
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  • Gemma Frisius Fund K.U.Leuven provides seed capital in the early phases of research-based K.U.Leuven spin-off companies established in 1997 as a joint venture between K.U.Leuven, the KBC group and the Fortis group GFF I founded in October 1997: 12,5 million EUR investment limit of 500 KEUR / project 10,5 million EUR invested in 15 spin-off companies (1997-2004) GFF II founded in July 2002: 12,5 million EUR investment limit of 1 MEUR / project 2 million EUR invested in 5 spin-off companies (2002-2004) partners: K.U.Leuven (20% of capital) Two banks: KBC Securities (40%) and Fortis Private Equity (40%)
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  • Gemma Frisius Fund K.U.Leuven combining research & technology transfer expertise of the university with financial and investment expertise of financial partners not restricted to a specific technology. GFF considers every investment opportunity involving know-how coming from the K.U.Leuven invested amount per year (GFF I & II combined):
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  • Spin-off Creation Process K.U.Leuven R&D GFF Advisory Board GFF Board of Directors intake preparing business plan technological due diligence market positioning financial plan financial due diligence investment advice iterative feed-back process final investment decision
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  • Spin-off Creation Process LRD Research Divisions research divisions embedded in university via matrix structure virtual organisations in which (groups of) researchers (from different faculties or departments) can group their applied research, commercial-industrial and exploitation activities. Faculties, departments, research groups: international quality in research, teaching performance LRD divisions/projects Contract autonomy & flexibility incentives
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  • Spin-off Creation Process LRD Research Divisions important role in the incubation process of a spin-off company BEFORE START-UP first market test within secure environment of university, usually through contract research smooth transition from research division to spin-off company technology transfer in exchange for shares (usually) investment from (part of) division reserves in spin-off company AFTER START-UP partner for contract research input from university researchers => co-operation agreement possible use of university lab infrastructure but clear distinction in focus and activities between research division and spin-off company after start-up.
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  • Incentive mechanism: Return through shares & warrants generate surplus value on shares Two types of shares: shares for capital investment shares for intellectual property (know-how, etc.) Valuation IP depends on various factors IP & contracts brought in patent portfolio time-to-market team Spin-off Creation Process
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  • Results 60 companies founded over the period 1979-2004: 25 companies over the period 1979-1997 35 companies over the period 1998-2004
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  • Results 51 active spin-off companies (end 2004): exploiting university research results total turnover of +/- 300 million EUR >1500 employees.
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  • Results 12,5 MEUR invested in 20 GFF portfolio companies (end 2004): 18 active portfolio companies 1 successful exit (trade sale) 1 divestment
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  • Spin-off companies Engineering LMS: computer aided dynamic analysis (acoustics, vibration, durability) Metris: reverse engineering & 3D quality control MEAC: microwave energy applications for industry Materialise: rapid prototyping services (stereolithography, etc.) Medicim: medical imaging solutions to support diagnosis and surgery etc. Micro-Electronics & ICT ICOS: vision and inspection solutions for the semiconductor and electronics assembly markets AnSem: design of analog integrated circuits Ubizen: provider of managed security solutions Eyetronics: 3D-image acquisition & processing Data4S: data management, customer behavior profiling and pattern detection OMP: state-of-the-art antenna products & designs Kimotion: EDA-tools for analog chip design Hypervision, Epyc, Telraam: multimedia applications, e-learning
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  • Spin-off companies Biomedical Thromb-X: biopharmaceuticals for cardiovascular diseases & technologies of embryonic stem cell cultures and transgenesis 4AZA Bioscience: biopharmaceuticals for immune pathologies such as transplantation rejection, rheumatoid arthritis and septic shock on the basis of new immune-inhibitors TiGenix: tissue engineering & cell-based therapies (repair of articular cartilage, bone & muscle) reMYND: services & tools to support drug discovery in Alzheimers disease and neuro-degeneration RNA-TEC: chemical synthesis & purification AlgoNomics: structural bio-informatics PharmaDM: global enabler of drug discovery analytic solutions, based on mining integrated chemical, biological and clinical data
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  • Partners: LRD, research centres, city of Leuven, GOM, Flanders, etc. Infrastructure: Innovation & Incubation Centre 2400 m, 15-20 companies office & production space Science Park Haasrode 130 ha, 150 companies, +/- 6000 jobs Arenberg Science Park 110.000 m office & lab space available from mid-2005 onwards state-of-the-art bio-incubator (end 2006) UbiCenter (old Philips-site) Campus Remy (old Remy-site) Regional Development
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  • Networking Horizontal Network: Leuven.Inc network organisation stimulating contacts between university, IMEC, high-tech start-ups, innovation actors, support activities such as consulting agencies and venture capitalists, and established companies in the Leuven area. Vertical Networks: technology clusters DSP Valley focusing on the design of hardware and software technology for digital signal processing systems. L-SEC (Leuven Security Excellence Consortium) international, non-profit network organisation dedicated to promote the use and advance of e-security.
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  • Leuven Knowledge Pearl
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  • Success factors for the exploitation of academic research results in Leuven: Basis = a critical mass of high quality research Integrated approach on research valorisation: multidisciplinary team & high value services Clear incentives and policies to encourage research groups and departments to actively seek knowledge transfer opportunities Creation of appropriate entrepreneurial climate in a university context Legal context with respect to exploitation of academic research in Flanders region Developing the necessary instruments and networks for the further professionalisation of technology transfer support Success Factors