creating a better tomorrow

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CREATING A BETTER TOMORROW Jane Muir University of Florida

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Presented at the 68th Annual ORAU Council of Sponsoring Institutions on March 6, 2013, by Jane Muir of the University of Florida.

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Page 1: Creating a Better Tomorrow

CREATINGA BETTER TOMORROW

CREATINGA BETTER TOMORROW

Jane MuirUniversity of Florida

Page 2: Creating a Better Tomorrow

Improving the Human Condition

Page 3: Creating a Better Tomorrow

Shortening the journey from discovery to market for

Florida’s tech start-up companies

Page 4: Creating a Better Tomorrow

National Business Incubator Statistics

According to a recent NBIA survey:

• Companies that got their start in an incubator and

graduated – five years after graduation, 87% were

still thriving

• Companies that get their start in an incubator – 78%

stay in the community where they were incubated

• Incubators are a key component to creating startups

in a community

Page 5: Creating a Better Tomorrow

Critical Components for Creating Companies

Facilities – Incubators provide a space for companies to start and a venue to foster connections among critical components

Technology – Most abundant resource

Entrepreneurs – Least abundant resource

Funding – Follows opportunity appropriately matched with an experienced entrepreneur

Page 6: Creating a Better Tomorrow

UF Patents & Licensing

 Research Awards

Invention Disclosures

Patent Applications

Licenses/ Options

Executed

2011/12 $644M 319 266 79

2010/11 619 298 145 78

2009/10 678 279 120 67

2008/09  574 271 151 72

2007/08 562 299 167 75

2006/07 583 327 156 74

2005/06 519 260 115 73

2004/05 494 274 133 66

2003/04 475 280 121 64

2002/03 458 264 127 52

2001/02 428 196 86 59

2000/01 380 204 64 37

1999/00 295 166 43 28

1998/99 280 136 47 10

Page 7: Creating a Better Tomorrow

Bridging the Technology GapBridging the Technology Gap

Start-ups are often the most appropriate (only) vehicle to bridge the technology gap

Page 8: Creating a Better Tomorrow

Innovation R&D Hotbeds

MIT, Caltech –And the Gators?How the University of Florida moved to theMajor league of technology startups

BusinessWeek - May 21, 2007

Page 9: Creating a Better Tomorrow

Shared FacilitiesAccess to shared office equipment and amenities, including conferencing facilities and a lobby receptionist.

All-Inclusive LeasesShort-term, leases that minimize financial commitment and include maintenance, common areas, property tax, utilities and high-speed internet service.

Page 10: Creating a Better Tomorrow

Modern LaboratoriesModern laboratories with access to biological safety cabinets, fume hoods, DI water, vacuum, autoclave and more.

Room For ExpansionOur flexible and scalable office areas grow alongside your business.

Page 11: Creating a Better Tomorrow

InformationAccess to the vast resources of scientific and business information located within the UF library system.

High-Speed DataEconomical, flat-rate options for phone, data lines, and video conferencing capabilities.

Page 12: Creating a Better Tomorrow

Weekly SeminarsWeekly seminars and events provide training and networking opportunities

50 Events in 50 Weeks

Page 13: Creating a Better Tomorrow

Empowering WOMEN IN TECHNOLOGY STARTUPS (eWITS)

Create virtual teams

Pair teams with patented technology

Provide entrepreneurial training

Launch real companies www.ewits.org

Page 14: Creating a Better Tomorrow

Unique Aspects

Office of Technology Licensing is a Tenant Source of innovation for starting companies Average more than dozen startups per year Drives traffic and creates collision

Resident Partners Service Providers and Venture Capitalists Pay rent and provide pro bono advice

Page 15: Creating a Better Tomorrow

Resident Partners

MPM Capital Saliwanchik, Lloyd &

Eisenschenk Synogen Wolf Greenfield Edwards Wildman Harbert Venture

Partners Hutchison Law Group James Moore & Co

Page 16: Creating a Better Tomorrow

Unique Aspects

The Hatchery Program created for individuals aspiring to start a company 3 month program = $400 Access to Mentor in Residence Training & networking events

Page 17: Creating a Better Tomorrow

Close to UF and Downtown• Home to 4,000 faculty • 50,000 talented students, $600 million in research average 300 new discoveries annually

First building in Innovation Square – 24/7 Live Work Play environment

Page 18: Creating a Better Tomorrow

Innovation Square Attracting Corporations

MindTree Limited is a global IT and product-engineering services company with over 11,000 MindTree Minds around the world.

Established US Development Corporation in the Innovation Hub April 2012- recently moved into renovated building- 65 employees; projected 400

Conversations with a number of other major companies

- ability to start immediately is appealing

Page 19: Creating a Better Tomorrow

Metrics to Date(Oct. 2011 – Feb. 2013 - 16 months)

26 companies currently in the building

8 graduates > 200 jobs created >$7 million in private

investment

Page 20: Creating a Better Tomorrow

It’s Working as Planned

• Shadow Health - one of first tenants to graduate in July; moved to 6,000 square feet of space in a vacant building downtown

• Two rounds of financing totaling > $1 million; hired 24 new employees, launched its signature product — interactive software that uses a virtual patient to teach students in the health care fields effective communication and assessment skills.

Page 21: Creating a Better Tomorrow

Entrepreneurs Play Important Role

• 99.7% of companies in Florida have fewer than 100 employees

• Those same companies provide 82.4% of all jobs in the state

• 62.9% of Florida businesses employ between 2 and 9 people Source: Florida Trend January 2011

Page 22: Creating a Better Tomorrow

Creative Class Coming to Florida

Richard Florida:Gainesville leads the nation in projected percentage growth of creative-class jobs

Page 23: Creating a Better Tomorrow

Conclusion Commercializing research discoveries to make the

world a better place Creating companies that create jobs Bringing private investment to community Generating licensing revenues to fund more

research Enabling university to attract and retain top

talent faculty

Page 24: Creating a Better Tomorrow

CREATINGA BETTER TOMORROW

CREATINGA BETTER TOMORROW

Jane MuirUniversity of Florida

jmuir#@ufl.edu

www.floridainnovationhub.ufl.edu