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The University Startups Demo Day: Identifying and Developing Successful University Startups
The National Council of Entrepreneurial Tech Transfer
GLENN VONK, PH.D. Director of Business Development and Alliances Startup Development Officer, NCET2 (Former BD Director of Advanced Technology)
BACKGROUND
For over 2 years, NCET2 worked with over 25 Fortune 500 companies to create a university-corporate commercialization program that takes university IP and startups from creation to corporate exit.
FEDERALLY FUNDED R&D AT FEDERAL LABS ($93 Billion)
IPO / CORPORATE BUSINESS UNITS
FEDERALLY FUNDED R&D AT UNIVERSITIES ($37 Billion)
OUTBOUND CORPORATE R&D
RESEARCHER-ENTREPRENEURS
(UNIVERSITY STARTUP CREATION)
GAP FUNDING
STARTUP R&D TAX CREDITS
SBIR FUNDING
CORPORATE COMMERCIALIZATION CENTER (CCC)
ANGELS VCs
CVCs
PRIVATE FUNDING
INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS
STARTUP DEVT
OFFICERS
UNIVERSITY STARTUP
PROGRAMS
This chart, the CCC, and the information presented here are the property of NCET2.
©June2017Contact NCET2 if you wish to
share or disseminate this slide: support@ncet2.org | http://ncet2.org
GLOBAL 1000 CORPORATE COMMERCIALIZATION COUNCIL
(NCET2 CORPORATE MEMBERS) (COORDINATION CENTER)
AMERICAN-CHINESE UNIVERSITY
GROWTH FUND UNIVERSITY
ANGELS
FEDERALLY FUNDED R&D AT FEDERAL LABS ($93 Billion)
IPO / CORPORATE BUSINESS UNITS
FEDERALLY FUNDED R&D AT UNIVERSITIES ($37 Billion)
OUTBOUND CORPORATE R&D
RESEARCHER-ENTREPRENEURS
(UNIVERSITY STARTUP CREATION)
GAP FUNDING
STARTUP R&D TAX CREDITS
SBIR FUNDING
CORPORATE COMMERCIALIZATION CENTER (CCC)
ANGELS VCs
CVCs
PRIVATE FUNDING
INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS
STARTUP DEVT
OFFICERS
UNIVERSITY STARTUP
PROGRAMS
This chart, the CCC, and the information presented here are the property of NCET2.
©June2017Contact NCET2 if you wish to
share or disseminate this slide: support@ncet2.org | http://ncet2.org
AMERICAN-CHINESE UNIVERSITY
GROWTH FUND UNIVERSITY
ANGELS
Phase 0: University IP to University Startup Program
GLOBAL 1000 CORPORATE COMMERCIALIZATION COUNCIL
(NCET2 CORPORATE MEMBERS) (COORDINATION CENTER)
FEDERALLY FUNDED R&D AT FEDERAL LABS ($93 Billion)
IPO / CORPORATE BUSINESS UNITS
FEDERALLY FUNDED R&D AT UNIVERSITIES ($37 Billion)
OUTBOUND CORPORATE R&D
RESEARCHER-ENTREPRENEURS
(UNIVERSITY STARTUP CREATION)
GAP FUNDING
STARTUP R&D TAX CREDITS
SBIR FUNDING
CORPORATE COMMERCIALIZATION CENTER (CCC)
ANGELS VCs
CVCs
PRIVATE FUNDING
INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS
STARTUP DEVT
OFFICERS
UNIVERSITY STARTUP
PROGRAMS
This chart, the CCC, and the information presented here are the property of NCET2.
©June2017Contact NCET2 if you wish to
share or disseminate this slide: support@ncet2.org | http://ncet2.org
AMERICAN-CHINESE UNIVERSITY
GROWTH FUND UNIVERSITY
ANGELS
Phase 1: University Startups Demo Day
GLOBAL 1000 CORPORATE COMMERCIALIZATION COUNCIL
(NCET2 CORPORATE MEMBERS) (COORDINATION CENTER)
FEDERALLY FUNDED R&D AT FEDERAL LABS ($93 Billion)
IPO / CORPORATE BUSINESS UNITS
FEDERALLY FUNDED R&D AT UNIVERSITIES ($37 Billion)
OUTBOUND CORPORATE R&D
RESEARCHER-ENTREPRENEURS
(UNIVERSITY STARTUP CREATION)
GAP FUNDING
STARTUP R&D TAX CREDITS
SBIR FUNDING
CORPORATE COMMERCIALIZATION CENTER (CCC)
ANGELS VCs
CVCs
PRIVATE FUNDING
INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS
STARTUP DEVT
OFFICERS
UNIVERSITY STARTUP
PROGRAMS
This chart, the CCC, and the information presented here are the property of NCET2.
©June2017Contact NCET2 if you wish to
share or disseminate this slide: support@ncet2.org | http://ncet2.org
AMERICAN-CHINESE UNIVERSITY
GROWTH FUND UNIVERSITY
ANGELS
Phase 2: SBIR/STTR Funding
GLOBAL 1000 CORPORATE COMMERCIALIZATION COUNCIL
(NCET2 CORPORATE MEMBERS) (COORDINATION CENTER)
FEDERALLY FUNDED R&D AT FEDERAL LABS ($93 Billion)
IPO / CORPORATE BUSINESS UNITS
FEDERALLY FUNDED R&D AT UNIVERSITIES ($37 Billion)
OUTBOUND CORPORATE R&D
RESEARCHER-ENTREPRENEURS
(UNIVERSITY STARTUP CREATION)
GAP FUNDING
STARTUP R&D TAX CREDITS
SBIR FUNDING
CORPORATE COMMERCIALIZATION CENTER (CCC)
ANGELS VCs
CVCs
PRIVATE FUNDING
INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS
STARTUP DEVT
OFFICERS
UNIVERSITY STARTUP
PROGRAMS
This chart, the CCC, and the information presented here are the property of NCET2.
©June2017Contact NCET2 if you wish to
share or disseminate this slide: support@ncet2.org | http://ncet2.org
AMERICAN-CHINESE UNIVERSITY
GROWTH FUND UNIVERSITY
ANGELS
Phase 3: University Startups Roadshows and Exits
GLOBAL 1000 CORPORATE COMMERCIALIZATION COUNCIL
(NCET2 CORPORATE MEMBERS) (COORDINATION CENTER)
VICTORIA SCARBOROUGH, PH.D. Startup Development Officer NCET2 (Former Sherwin Williams External Technology Director)
ABOUT The USDD
• The USDD program is an industry-created program
• The USDD presents an unprecedented opportunity for corporate open innovation and venturing groups, VCs, and angels to discover, review, partner with, and fund university startups.
WHAT IS IT?
• Every six months, the University Startups Demo Day engages with over 100 universities to accept 200 of their best university startups
• Startups are scored by a Corporate Selection Committee consisting of Fortune 500 companies.
• These double-curated startups by academia and industry represent the very top startups coming out of American universities that are industry aligned.
ELIGIBILITY
• Must be a startup. • Open to North American universities and startups/
companies. • Startups must be affiliated with a university.
TYPES OF STARTUPS
• Seed and Startup – Demo Day with corps and investors – more than 4 years from M&A or IPO
• Series A/B – Roadshow showcase to angels and VCs – 2-4 years from M&A or IPO
• Exit-ready – Ready for Corporate Exit – less than 2 years from M&A or IPO
SUBMIT YOUR STARTUP https://ncet2.org/SubmitStartup
• Company Description • University Affiliation • TRL and CRL • Technical Area • Value Proposition • Management Team
profiles • IP Status • Funding
• Important reminder – Do not include proprietary
information in your submission
• Download a sample of the application from: https://www.ncet2.org/demo-day/usdd3.html
• (PDF will also be emailed to you)
CORPORATE REVIEW
• Corporate members will review information
• Best scoring startups will be awarded a presentation slot and be part of the Startup Development Program
• Opportunity for discussion with corporates who have interest in the startup during & after the meeting
Technical Areas
IP2Startups and USDD Corporate Selection Committee Pool
Air Products - Specialized Chemicals | Astra Zeneca - Pharmaceuticals | Barilla - Food Processing | BASF - Diversified Chemicals | BMW - Auto & Truck
Manufacturers | Dassault Systemes - Software & Programming | DuPont – Chemicals | Eastman Chemical Company - Specialized Chemicals | Eli Lilly and
Co. - Pharmaceuticals | Evonik - Specialty chemicals | Faurecia - Automotive parts manufacturing | GlaxoSmithKline - Pharmaceuticals | Hyundai - Auto &
Truck Manufacturers | IBM - Computer Services | Johnson & Johnson – Medical Equipment & Supplies | Janssen Pharmaceutical Companies of J&J -
Pharmaceuticals | M Ventures (Merck Ventures) - Healthcare, Life Sciences, Performance Materials | Medline - Medical and Surgical Supplies | Pepsico - Beverages and Foods | Pfizer - Pharmaceuticals | SABIC - Chemicals | Saint- Gobain - Construction Materials | Sanofi - Pharmaceuticals | Schlumberger - Oil Services & Equipment | Sony - Consumer Electronics | The J.M. Smucker Company - Food Processing | Unilever - Household/Personal Care | Western
Digital Capital - Computer Storage Devices
HOW WILL STARTUPS BE SCORED?
• Startups will be scored by NCET2 Corporate Selection Committee
• Highest possible score of 150 – Management Team (best possible score, 30) – Technical Feasibility (best possible score, 30) – Commercial Feasibility (best possible score, 20) – Strategic Fit (best possible score, 30) – Product Attractiveness/Reward (best possible score,
20) – Operational Challenge (best possible score, 20)
UNIVERSITY BENEFITS FROM DEMO DAY
• Global exposure for your university with multi-national companies; Corporate connection/set-up relationships
• University startups have access to meet 1:1 with corporates who have strong interest in their technology
• Startup development – Startup Development Officers
• Set-up corporate milestones • Set-up funding milestones (SBIR, Angel, VC)
TONY STANCO Executive Director NCET2
NCET2 Startup Development Process
• The USDD is the first part of a devt process. • The Startup Development Program assists
Demo Day startups with milestones and funding for corporate exits and IPO.
• Our Startups Development Officers are ex-corporates, mentor-angel investors, and ex-university tech transfer officers.
FEDERALLY FUNDED R&D AT FEDERAL LABS ($93 Billion)
IPO / CORPORATE BUSINESS UNITS
FEDERALLY FUNDED R&D AT UNIVERSITIES ($37 Billion)
OUTBOUND CORPORATE R&D
RESEARCHER-ENTREPRENEURS
(UNIVERSITY STARTUP CREATION)
GAP FUNDING
STARTUP R&D TAX CREDITS
SBIR FUNDING
CORPORATE COMMERCIALIZATION CENTER (CCC)
ANGELS VCs
CVCs
PRIVATE FUNDING
INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS INNOVATION
DISTRICTS INNOVATION DISTRICTS
STARTUP DEVT
OFFICERS
UNIVERSITY STARTUP
PROGRAMS
This chart, the CCC, and the information presented here are the property of NCET2.
©June2017Contact NCET2 if you wish to
share or disseminate this slide: support@ncet2.org | http://ncet2.org
GLOBAL 1000 CORPORATE COMMERCIALIZATION COUNCIL
(NCET2 CORPORATE MEMBERS) (COORDINATION CENTER)
AMERICAN-CHINESE UNIVERSITY
GROWTH FUND UNIVERSITY
ANGELS
(Draft) Commercialization Readiness Levels
CRL Technical Milestones Business Milestones Funding Milestones
0 Research Validated Opportunity Validated; corp. license if applicable Public Research Grants
1 Startup and Technology development plan
Startup created, management team. IP licenses, Legal issues settled
Public / Private
2 Market and Technical feasibility established
Business plan validated at level 1 (accelerator) and level 2 (CCC)
Public: SBIR / STTR Ph 1; other public sources
3 “Works-Like” laboratory Proof of Concept
Key corporate advisors in hand; pharma target validated Public; Ph 2 SBIR / STTR, other
4 “Works-like” operational Prototype Commercialization plan updated incl. competitive update; tech landscape; preclinical validation and safety profile
Public; Ph 2 SBIR / STTR, other
5 Operational Product Development and Launch
Funding for manufacturing/organizational development; human clinical validation
Public; Ph 2B SBIR / STTR, other; Angel. Pharma: corp./VC/Angel
6 Sales/Service / support/Scaling
SSGNA in place $0-1 million Revenues
Angel / VC / Corp
7 Sales/Service / support/Scaling $1-5 million Revenues Angel - VC / Corp
8 Sales/Service / support/Scaling $5-10 million Revenues VC / Corp
9 Sales/Service / support/Scaling $10-25 million Revenues
VC/Corp
10 Sales/Service / support/Scaling >$25million Revenues
Exit / IPO
Exit Route 1: IP to Angel to Corporate Exit
• Need to get to some proof of sales • No need for large-scale manufacturing and distribution build-out • Corps will cover global manufacturing and distribution • Mostly angel funding or small VCs • Less than $5M in all rounds
3-5 YEARS CRL 6/7 $25-50M
IP EXIT ANGEL
Exit Route 2: IP to Angel to VC to Corporate/IPO
• IPO exit or large corp M&A exit • >$25M sales • Annual sales growth of 30-100% • Need millions in manufacturing and distribution build-out • Need millions from VCs
5-10 YEARS CRL 10 $1B unicorn
IP IPO ANGEL VC
Case Studies of USDD
University Experience
STEVE NAPPI Associate Vice President for Technology Commercialization and Business Development Temple University
HELENA WISNIEWSKI, PH.D. Vice Provost for Research University of Alaska Anchorage
HOW TO ASK QUESTIONS• Q&Awillbeheldattheend• Typeyourques7onsintheQues7onsBoxofyourGoToWebinarControlPanel
DISCUSSION & QUESTIONS?
Contact us: usdemoday@ncet2.org | http://ncet2.org
3 PROGRAMS HIGHLIGHTED AT THE EVENT 1. University Startup Demo Day
• Submit startup companies to gain presentation slots at conference and have meetings with interested corporates and investors
2. IP2Startup Program • Submit IP/Patents to be scored by corps and will be included in IP
Book for distribution to corps 3. Investor Roadshow
• American-Chinese University Fund ($1B)
SUBMITYOURSTARTUPANDIP
EarlyDeadline:July14,2017
FORSTARTUPS• Presenta7onslotattheOct2017
DemoDay• Recogni7onasoneoftheBest
UniversityStartupsfor2017• AccesstoleadingFortune500/
Global1000CorporateVentureCapitalistsandOpenInnova7on,VCs,andAngels
SUBMITHERE:hRps://ncet2.org/SubmitStartup
FORIP• BefeaturedintheIPBook• Feedbackandscoringof
technologyformarket-alignmentandrelevancetoindustry
SUBMITHERE:hRps://ncet2.org/SubmitIP
SUBMIT EARLY!
Stats from last 2 Demo Days show that the highest scoring companies come from earlier submissions
• 2/3 submit 1 week before a deadline, 1/3 get selected
• A little bit puzzling, we are not sure why. • Our guess is:
• Corporates have more time to look at the earlier companies
• Good management team manage their time better and don’t rush things doing them last minute
UPCOMING WEBINARShttps://ncet2.org/webinars
• June 21, 2017, 1pm ET Creating a University Angel Group to Fund Your Student, Faculty, Researcher and Alumni Startups (Co-organized with Kent State University's College of Business Administration)
• Starts on June 22, 2017, 1pm ET/10:00 AM PT Corporate Needs Broadcasts
• June 28, 2017, 1:00 PM ET/10:00 AM PT Corporate Open Innovation And Venturing In Practice
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