Inventis Group Ltd.inventisgroup.com/resources/pdfs/Inventis-Group-Innovation-to... · Inventis Group Ltd. ... AFRL / Industry Collaboration with Air Force Research LaboratoryCollaboration

Inventis Group Ltd.Inventis Group Ltd.I ti / C i li ti / T f tiI ti / C i li ti / T f tiInnovation / Commercialization / TransformationInnovation / Commercialization / Transformation

Innovation to TransformationInnovation to TransformationCapturing Technology, Talent & CapitalCapturing Technology, Talent & Capital

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Inventis Group Ltd.Inventis Group Ltd.BackgroundBackground

Founded 2004Founded 2004 Culmination of 25 yearsCulmination of 25 years Mission: Change the world Mission: Change the world –– 11stst thru 3thru 3rdrd

Vision: Improve a child’s life in every continentVision: Improve a child’s life in every continentPersonalPersonal

FarmFarm Farm Farm EntrepreneurEntrepreneur

NYC / Copenhagen / Barcelona / ManchesterNYC / Copenhagen / Barcelona / Manchester J.D. / M.B.A.J.D. / M.B.A. TravelTravel

Give BackGive Back

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Give Back Give Back

Inventis Group Ltd.Inventis Group Ltd.BusinessBusiness--Life ModelLife Model

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Technology, Talent, Capital (TTC)Technology, Talent, Capital (TTC)Technology, Talent, Capital (TTC)Technology, Talent, Capital (TTC)

Dr. Robert SolowDr. Robert Solow1987 N b l P i i E i1987 N b l P i i E i 1987 Nobel Prize in Economics1987 Nobel Prize in Economics

NeoNeo--classical Growth Theoryclassical Growth TheoryTTC = Economic DevelopmentTTC = Economic Development

Ms. Katherine KuMs. Katherine Ku Director, Stanford University, Technology Transfer OfficeDirector, Stanford University, Technology Transfer Office No magic No magic –– Abundant TTCAbundant TTC

Mr. Jonathan KaoMr. Jonathan Kao “Innovation Nation”“Innovation Nation”

TTC in Singapore, Finland, DenmarkTTC in Singapore, Finland, DenmarkS ll C t i b t l f t i tS ll C t i b t l f t i t Small Countries but large footprintsSmall Countries but large footprints

Best PracticesBest Practices

Simple Answer / No simple SolutionSimple Answer / No simple Solution

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CapturingCapturing Technology Talent CapitalTechnology Talent CapitalCapturingCapturing Technology, Talent, Capital Technology, Talent, Capital

PP Purpose Purpose Overview of TTC Overview of TTC

STEM to StartSTEM to Start--Up’sUp’s IP to Economic DevelopmentIP to Economic Development

Outline Process Outline Process Innovation to TransformationInnovation to Transformation

CommercializationCommercialization

Discuss ApproachesDiscuss Approaches UniversityUniversity IndustryIndustry GovernmentGovernment

ObjectiveObjectiveInteractively capture “Best Practices”Interactively capture “Best Practices”Take away: “Empowerment” Take away: “Empowerment”

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Capturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital

TechnologyTechnology

OverviewOverviewUniversityUniversity

Traditionally: Basic researchTraditionally: Basic research Funded thru governmentFunded thru government Now: Growing number of collaborations with IndustryNow: Growing number of collaborations with Industry

U. of Pittsburgh & GEU. of Pittsburgh & GEGovernmentGovernment

Traditionally: Basic researchTraditionally: Basic research Traditionally: Basic researchTraditionally: Basic researchDOE, DoD, NIH, NSF etc.DOE, DoD, NIH, NSF etc.Some have labs, some not (NSF)Some have labs, some not (NSF)

Now: Growing number of collaborationsNow: Growing number of collaborationsIndustryIndustryyy

Traditionally: Basic and advanced researchTraditionally: Basic and advanced researchSmart companies Smart companies –– maintaining or increasing R&Dmaintaining or increasing R&D

Now: Pipeline collaborations increasing Now: Pipeline collaborations increasing -- P&GP&GIndividualsIndividuals

Traditionally: InventorsTraditionally: Inventors

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Traditionally: InventorsTraditionally: InventorsU.S. Constitution Article 1 section 8: ‘Grants Inventors exclusive rights’ U.S. Constitution Article 1 section 8: ‘Grants Inventors exclusive rights’

Now: Growing numbers of entrepreneursNow: Growing numbers of entrepreneurs


Technology (cont’d)Technology (cont’d) Intellectual PropertyIntellectual Property

40% of World’s IP generated in US 40% of World’s IP generated in US $1T in GDP (WSJ)$1T in GDP (WSJ)

ProtectionsProtections PatentsPatents Trade Secrets etc.Trade Secrets etc.

800 lbs Gorilla’s800 lbs Gorilla’s 800 lbs. Gorilla s800 lbs. Gorilla sa.) Litigationa.) Litigationb.) Reb.) Re--engineer Teamengineer Team

ValuationsValuationsValuationsValuations What’s it worth?What’s it worth? For whom does it have value?For whom does it have value? What methodology?What methodology?

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TalentTalentO i R t i R itO i R t i R it Overview: Retain vs. Recruit Overview: Retain vs. Recruit

STSTEEM M –– grow your owngrow your own Wall Street Journal studyWall Street Journal study

STEM = Economic DevelopmentSTEM = Economic Development 1970 US leads in S&E’s vs. Today 12th1970 US leads in S&E’s vs. Today 12th

UniversityUniversity Local resources = Local opportunitiesLocal resources = Local opportunities Entrepreneurial programs for students & professorsEntrepreneurial programs for students & professors Entrepreneurial programs for students & professorsEntrepreneurial programs for students & professors

StanfordStanfordGovernmentGovernment

General OfficersGeneral OfficersLt. Gen. (retired) John Novak Lt. Gen. (retired) John Novak –– retained retained

Scientists & EngineersScientists & EngineersChief Scientist, (retired) Dr. Wade Adams Chief Scientist, (retired) Dr. Wade Adams -- recruitedrecruited

IndustryIndustry RetireesRetirees

P&G intranetP&G intranet

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P&G intranetP&G intranet


CapitalCapital OverviewOverview

GovernmentGovernment Federal Economic Stimulus packageFederal Economic Stimulus package

Wall Street JournalWall Street Journal –– Cisco grant writersCisco grant writersWall Street Journal Wall Street Journal Cisco grant writersCisco grant writers State & Local governmentState & Local government

Ohio 3Ohio 3rdrd FrontierFrontier CIA CIA –– InIn--QQ--TelTel

IndustryIndustryIndustryIndustry Intel FundIntel Fund GoogleGoogle Lockheed Lockheed

Private EquityPrivate EquityPrivate EquityPrivate Equity Life Cycle FundingLife Cycle Funding

PrePre--seed / Seed / Early Stage / 1seed / Seed / Early Stage / 1stst, 2, 2ndnd, 3, 3rdrd Rounds / Mezzanine / Rounds / Mezzanine / IPOIPO

Angels vs Venture CapitalistAngels vs Venture Capitalist

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Angels vs. Venture CapitalistAngels vs. Venture Capitalist

Research Lab to StartResearch Lab to Start--up:up:The ProcessThe Process

Due Diligence: Due Diligence: T h l Id tifi tiT h l Id tifi tiTechnology IdentificationTechnology Identification

IPIPApplicationsApplicationsMarketsMarketsSustainable Competitive AdvantageSustainable Competitive AdvantageSustainable Competitive AdvantageSustainable Competitive Advantage

Talent IdentificationTalent Identification ManagementManagement

Personnel with experiencePersonnel with experienceTalent availableTalent available

Capital IdentificationCapital Identification GovernmentGovernment

Grants are GreatGrants are Great IndustryIndustry

Customer or PredatorCustomer or PredatorCustomer or PredatorCustomer or Predator Private EquityPrivate Equity

What’s most important?What’s most important? Friends & FamilyFriends & Family

Is there a Business Case for Technology Commercialization?Is there a Business Case for Technology Commercialization?

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gygy


AgreementAgreementAgreementAgreement Exclusive LicenseExclusive License

How much?How much?How much?How much?How “exclusive”?How “exclusive”?

Government / DoD worldGovernment / DoD world--wide rights for nonwide rights for non--commercialcommercial

NonNon--ExclusiveExclusiveField of UseField of Use

What are you giving and getting?What are you giving and getting? Consider impact e.g. investorsConsider impact e.g. investors

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p gp g


Markets & Customers BuildMarkets & Customers Build--outoutG l I d tG l I d t General: IndustryGeneral: Industry

How big?How big? Specific: CustomersSpecific: Customers

How many?How many?How soon?How soon?

Letter of Support vs. Purchase OrderLetter of Support vs. Purchase OrderTesting Cycle or Product Delivery dateTesting Cycle or Product Delivery date

FinancingFinancing Life Cycle Life Cycle –– where do you fit?where do you fit? 2x Amount and 2x time to close2x Amount and 2x time to close

How to spend?How to spend?ROI?ROI?When?When?

Growth Growth –– Next StepsNext StepsMarkets Management (More) MoneyMarkets Management (More) Money

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Markets, Management, (More) MoneyMarkets, Management, (More) Money

Research Lab to StartResearch Lab to Start--up:up:’’The Process: It’s PersonalThe Process: It’s Personal

“The Give Back”“The Give Back”Di Y GiftDi Y Gift Discover Your Gift .comDiscover Your Gift .com

Plan AheadPlan Ahead/ C C/ C C Pick one / Combine CausesPick one / Combine Causes

Time & MoneyTime & MoneyBill and WarrenBill and Warren

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Innovation to TransformationInnovation to TransformationCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, CapitalCapturing Technology, Talent, Capital

How do we build our own “Silicon Valley”?How do we build our own “Silicon Valley”?How do we build our own Silicon Valley ?How do we build our own Silicon Valley ?

O A hO A hOne Approach: One Approach: University of DaytonUniversity of Dayton

22ndnd in Nation in Materials Science (NSF)in Nation in Materials Science (NSF)Exclusive license: RF technologyExclusive license: RF technology

Analog Bridge Inc formedAnalog Bridge Inc formed Analog Bridge Inc. formedAnalog Bridge Inc. formed Negotiations w/ two subsidiaries Negotiations w/ two subsidiaries

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Top 9 Suggestions:Top 9 Suggestions:p ggp gg1. Overall1. Overall Technology, Talent, CapitalTechnology, Talent, Capital

Have all three or walk awayHave all three or walk away

2. Technology 2. Technology Build relationship with Inventor Build relationship with Inventor

Understand technologyUnderstand technologyUnderstand visionUnderstand vision

Develop an Advisory BoardDevelop an Advisory BoardComposed of multiple disciplines Composed of multiple disciplines Discover & understand all pathways to commercial successDiscover & understand all pathways to commercial success. .

3 Talent3 Talent::3. Talent3. Talent:: StartStart--up’s: Everyone’s indispensable esp. technical folksup’s: Everyone’s indispensable esp. technical folks Everything properly documented, esp. technical infoEverything properly documented, esp. technical info

Lab / Inventor’s NotebookLab / Inventor’s Notebook

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4. Capital: 4. Capital: Licensing agreement: All anglesLicensing agreement: All angles Licensing agreement: All anglesLicensing agreement: All angles

Investor’s perspective.Investor’s perspective. Investors only care: Investors only care:

Costs to get in Costs to get in ROI upon exitROI upon exitROI upon exit ROI upon exit When?When?

5. Talent 5. Talent Talent, like family, not always a choiceTalent, like family, not always a choice Delegation may not be an optionDelegation may not be an optionDelegation may not be an option Delegation may not be an option

Get the job doneGet the job done6. Capital6. Capital Know life cycle of investments Know life cycle of investments

PrePre--seed, Seed etc.seed, Seed etc.,,Where do you fit?Where do you fit?

Know investor profilesKnow investor profilesWhat? When? How much?What? When? How much?

Race to marketRace to marketD ’ ’ iD ’ ’ i

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Don’t waste anyone’s timeDon’t waste anyone’s time


7. Capital:7. Capital: Know Your Funding SourceKnow Your Funding Source

Policies, Procedures & Timelines Up FrontPolicies, Procedures & Timelines Up FrontInsist on Answers and Time to CureInsist on Answers and Time to Cure

8. Technology8. Technology Research is ongoingResearch is ongoing

Know Competitive LandscapeKnow Competitive LandscapeKnow word on the streetKnow word on the street

9. Overall9. Overall Never stand stillNever stand still If your moving, you’re not deadIf your moving, you’re not dead

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Second Approach:Second Approach:Second Approach:Second Approach: AFRL / IndustryAFRL / Industry

Collaboration with Air Force Research LaboratoryCollaboration with Air Force Research LaboratoryCollaboration with Air Force Research LaboratoryCollaboration with Air Force Research Laboratory Investments for CommercializationInvestments for Commercialization (I4C) pilot program(I4C) pilot program

Focus: Small Business Innovative Research (SBIR) Focus: Small Business Innovative Research (SBIR) Top tier Private Equity Orgs.Top tier Private Equity Orgs.Industry CollaboratorsIndustry CollaboratorsFederal, State & Local economic development Federal, State & Local economic development pp

MissionMissionLife Cycle Funding for Game Changing TechnologiesLife Cycle Funding for Game Changing Technologies

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Investments for Commercialization (I4C)Investments for Commercialization (I4C)( )( )

TechnologyTechnologySBIR ProgramSBIR ProgramSBIR ProgramSBIR Program

Federally funded Federally funded –– 2.5% of each Agency’s budget2.5% of each Agency’s budget DoD, DoE, NSF, NIH all run slightly differentlyDoD, DoE, NSF, NIH all run slightly differently

Ai F SBIRAi F SBIR Hi h t ti i D t iHi h t ti i D t iAir Force SBIR Air Force SBIR –– High concentration in Dayton regionHigh concentration in Dayton region I4C program invited 7 local companies I4C program invited 7 local companies Develop Commercialization Plans Develop Commercialization Plans

Purpose: Investment CapitalPurpose: Investment CapitalPurpose: Investment CapitalPurpose: Investment Capital StakeholdersStakeholders

Invest in working prototypesInvest in working prototypesSBIR Phase 2 deliversSBIR Phase 2 delivers

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TalentTalentI d tI d t IndustryIndustry

Mentors / RetireesMentors / Retirees Willing to take active role Willing to take active role Safeguard investmentsSafeguard investments

ROIROI ROIROI

UniversitiesUniversitiesProfessors: Advisory Boards Professors: Advisory Boards Students: Entrepreneurs / JobsStudents: Entrepreneurs / JobsStudents: Entrepreneurs / JobsStudents: Entrepreneurs / Jobs

Sergey BrinSergey Brin Need more!Need more!

GovernmentGovernment GovernmentGovernmentRetiring Scientists and EngineersRetiring Scientists and Engineers

Dr. Wade AdamsDr. Wade AdamsRetiring General OfficersRetiring General Officers

Lt. Gen (retired) John NovakLt. Gen (retired) John Novak

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Ge ( e ed) Jo o aGe ( e ed) Jo o a


CapitalCapital Federal Stimulus $$$Federal Stimulus $$$

GrantsGrantsUnorganized ProcessUnorganized Process

“Shovel Ready”“Shovel Ready” Shovel ReadyShovel Ready Who’s allocating?Who’s allocating?

State & LocalState & Local33rdrd FrontierFrontier

S d PS d P Seed ProgramsSeed Programs IndustryIndustry

Many pulling back Many pulling back Smart $$ still investingSmart $$ still investingSmart $$ still investingSmart $$ still investing

Private EquityPrivate EquityMany consolidatingMany consolidatingG d d l till lG d d l till l

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Good deals still ruleGood deals still rule Green/CleanGreen/Clean


33rdrd Approach:Approach:33 Approach:Approach:AFRL AFRL

T h lT h l i th F ti th F t Technology Technology in the Futurein the Future

SEED (S i ti t & E i E t i lSEED (S i ti t & E i E t i lSEED (Scientists & Engineers Entrepreneurial SEED (Scientists & Engineers Entrepreneurial Development) programDevelopment) program

SpinSpin--out game changing technologies from AFRLout game changing technologies from AFRLpp g g g gg g g g Enable S&E’s to pursue commercializationEnable S&E’s to pursue commercialization

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Talent Talent in the Futurein the Future

STSTEEMMDayton Regional STEM School (DRSS)Dayton Regional STEM School (DRSS)Dayton Regional STEM School (DRSS)Dayton Regional STEM School (DRSS)

Located near WPAFBLocated near WPAFB Hosted by: Wright StateHosted by: Wright State Supported by: UD, Sinclair CC, Clark State CC, Central State Supported by: UD, Sinclair CC, Clark State CC, Central State

B tt ll Bill & M li d G t F d ti St d d R i tB tt ll Bill & M li d G t F d ti St d d R i tBattelle, Bill & Melinda Gates Foundation, Standard Register, Battelle, Bill & Melinda Gates Foundation, Standard Register, CDO Technologies and many local businessesCDO Technologies and many local businesses

Home grown talentHome grown talent

AFRL Scientists & EngineersAFRL Scientists & Engineers Encore career opportunitiesEncore career opportunities Advisory Board and CTO’sAdvisory Board and CTO’s

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CapitalCapital in the Futurein the FutureCapital Capital in the Futurein the Future

P i t I t t F dP i t I t t F d Private Investment FundPrivate Investment FundFocused on Air Force technologiesFocused on Air Force technologiesCapitalized by nationCapitalized by nation wide network of Investorswide network of InvestorsCapitalized by nationCapitalized by nation--wide network of Investorswide network of InvestorsProfessionally managedProfessionally managedBringing new investment capital to OhioBringing new investment capital to OhioBringing new investment capital to OhioBringing new investment capital to OhioFirst fund to raise $10M First fund to raise $10M -- later funds of $50M +later funds of $50M +

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SummarySummarySummarySummary

Dr Solow’s Theory: Technology TalentDr Solow’s Theory: Technology TalentDr. Solow s Theory: Technology, Talent, Dr. Solow s Theory: Technology, Talent, CapitalCapital

Only works when communities focus onOnly works when communities focus on Only works when communities focus on Only works when communities focus on collaborationcollaboration

IDCAST is a perfect exampleIDCAST is a perfect exampleIDCAST is a perfect exampleIDCAST is a perfect example

Our Mission: Resurgence of InnovationOur Mission: Resurgence of InnovationOur Mission: Resurgence of Innovation Our Mission: Resurgence of Innovation Restore region to leadership roleRestore region to leadership role

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Documents

Inventis Group Ltd.inventisgroup.com/resources/pdfs/Inventis-Group-Innovation-to... · Inventis Group Ltd. ... AFRL / Industry Collaboration with Air Force Research LaboratoryCollaboration