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TEC Edmonton:Programs
Technology Transfer
CompanyDevelopment
VenturePrize
DealGenerator
TEC Centre
2007
What’s new about TEC Edmonton?
1. Unique Joint Venture between University and Municipality
2. Regional focus: we want to capture more value from regional R&D and keep it in the region
3. Regional hub for public and private-sector alliances
Who funds TEC Edmonton?
University of Alberta: $1M per year (min) Province: $2M over 5 years Federal Government: $2M over 5 years City of Edmonton: $5M over 5 years,
plus $7M towards Bay purchase/RTF Other agencies: AHFMR, CIHR, CTI… Private-sector sponsors: 26
‘Organizations 101’
First make sure you are doing the right things….
(Effectiveness)
(Efficiency)And then try to do them right…
Doing the right things
New joint venture changed the focus: more company creation and development
The philosophy is to capture the value of R&D occurring in the region, for the region
Doing the right things
New joint venture changed the focus: more company creation and development
The philosophy is to capture the value of R&D occurring in the region, for the region
And…Crank up the volume!
Doing the right things:Get our priorities straight
1. Transfer inventions from local researchers to local companies
2. Create new companies in the region 3. License inventions to companies
outside the regionThis is a significant departure from
normal practice
Doing the Right Things…
We have begun to ‘cast the net wider’ to increase the supply of:
Intellectual Capital Human Capital Facilities Social Capital (connections) Financial Capital
Sponsored Research Funding@ UofA ($Millions)
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Cast the Net Wider:Intellectual capital
Working with non-UofA inventors– 1st time ever in region
New business relationships to increase deal flow– BioAlberta– TR Labs– Capital Health– NINT
‘Shake the trees’ in the faculties
Technology Transfer Measures and results
Indicator FY 2005 FY 2006 FY 2007
(Target)
FY 2007
(Actual)
Reports of
invention
59 82 110 98
US Patent
applications
41 57 54 54
US Patents
issued
10 8 10 9
Spin off companies
71 active spinoffs Over 1,000 highly
skilled employees 8 publicly traded firms
– $1B market cap
86% of spinoffs are based in Alberta– 83% headquartered in
Edmonton
New start up companiesApril 2007
Company Status
Rehabtronics Inc. Established
BioLipids Inc. Established
i-LOC Inc. Incorporated
DRAXWARE Inc. Pending
Candidate start upsApril 2007
‘Company’ Status
Ultrasound Biotech Under development
EZ Seer Student entrepreneur prog.
MOJO Student entrepreneur prog.
Picomole (external) Term sheet
Oncometabolics Under development
COMPRU (external) Under development
Cast the Net Wider:Human Capital
Beefing up the Company Development team
Key ingredients– Executives-in-residence
4 in place Up to 3 more to come
– Market Analysts 2 in place, plus intern
– Commerce-savvy staff
Cast the Net Wider: Social Capital
VenturePrize 2006-07 – Province-wide business plan competition– Record-breaking year all round
Deal Generator– Now Canada’s largest Angel network – 9 forums to showcase groomed high-growth tech firms,
$10M in offers of capital
Ingenuity Enterprise: $3.6M province-wide collaboration with UTI (Calgary)
Record activities in networking and outreach events
Venture Prize deal flow indicators, cf. same time last year
Indicator May 06 May 07
# Participants 105 131
# Participants mentored 22 29
# Sponsors 21 26
Sponsor $ (private sector) 59,000 66,000
Cast the Net Wider: Social Capital
VenturePrize 2006-07 – Province-wide business plan competition– Record-breaking year all round
Deal Generator– Now Canada’s largest Angel network – 9 forums to showcase groomed high-growth tech firms,
$10M in offers of capital
Ingenuity Enterprise: $3.6M province-wide collaboration with UTI (Calgary)
Record activities in networking and outreach events
Deal Generator
Strategy Measure 06/07 Target 06/07 Actual
Increase Access to Capital for start ups
Investment $ into TEC Edmonton companies
$8MM offers
$4MM closed
$9.5MM offers
$724K closed
Cast the Net Wider: Social Capital
VenturePrize 2006-07 – Province-wide business plan competition– Record-breaking year all round
Deal Generator– Now Canada’s largest Angel network – 9 forums to showcase groomed high-growth tech firms,
$10M in offers of capital
Ingenuity Enterprise: $3.6M province-wide collaboration with UTI (Calgary)
Record activities in networking and outreach events
Ingenuity EnterpriseA program to increase entrepreneurship in Alberta
$3.6M program now underway– EIRs, Student Entrepreneurship & business plan
competition, outreach, graduate innovation Funded by Alberta Ingenuity Planned, managed and executed jointly with
UTI (Calgary) Management Board in place
– Includes 3 external expert members
Cast the Net Wider: Social Capital
VenturePrize 2006-07 – Province-wide business plan competition– Record-breaking year all round
Deal Generator– Now Canada’s largest Angel network – 9 forums to showcase groomed high-growth tech firms,
$10M in offers of capital
Ingenuity Enterprise: $3.6M province-wide collaboration with UTI (Calgary)
Record activities in networking and outreach events
TEC Edmonton connects region
CTI
AHFMR
IRAP
TRLabs
Others…
NAIT
ARC
The Business
Link
TEC Edmonton
Private Sector
TEC Edmonton is a regional hub that connects “agents” supporting innovation through referrals and collaborations.
Partnerships help make TEC work.
Cast the Net Wider:Facilities
Give our start-ups a home– Research Transition Facility, soon to be ‘TEC Centre’
Nourish them– Company Development services
Extend our reach: new alliances with:– Edmonton Research Park (ERP) & ATC– National Institute for Nanotechnology (NINT)– Northern Alberta Business Incubator (NABI)– NAIT Duncan McNeill Centre for Innovation
Cast the Net Wider: Facilities
TEC Edmonton is moving off campus Occupying entire 4th floor of Enterprise Square in
October 2007 TEC Edmonton and about 20 tenants to relocate Funding for Bay Building redevelopment:
– City of Edmonton ($7.5M)– Province of Alberta ($15M) – U of A ($49M)– Government of Canada ($15M)
Cast the Net Wider: Financial Capital - Help technology ventures access capital
Prepare them, polish them, present them– Groundbreaking new AHFMR grant
Unique Funding Agency Consortium very active Deal Generator facilitated $9.5M in financing offers VenturePrize awarded $210,000 (most ever) in
cash and in-kind development support on May 3 Seed fund
Doing Things Right
Business – savvy and experienced management team Sound strategic plan and business processes Solid financial management and controls
– 2006/07 revenues ($5.2M) matched by expenditures– First ever audit in May
Contemporary governance– Private sector – led Board– Governance based on TSX model
Members of the TEC Edmonton Board
Gary Kachanoski VP(Research), UofAAllan Scott President & CEO, EEDCDavid Cox CEO. TEC EdmontonBob Teskey Field LawNancy Harrison Former VC (Ventures West)Wayne Karpoff CTO, Yotta YottaRich Casey Former US Biotech CEOChris Lumb CEO, MicralyneBruce Johnson Former CEO Intuit CanadaDoug Maley ADM, Western
Diversification
Challenges?
Managing the interface with the stakeholder organizations
Managing a high rate of growth Supply of management expertise Managing founder’s expectations