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Location

Commercialization at the University of Waterloo ideas start here ™ Scott Inwood Director Commercialization. Location. Province of Ontario Most populated area of Canada (75km from Toronto) Close to U.S Border (Niagara Falls 130km, Detroit 250km)

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Location

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  1. Commercialization at the University of Waterlooideas start here™Scott InwoodDirector Commercialization

  2. Location Province of Ontario Most populated area of Canada (75km from Toronto) Close to U.S Border (Niagara Falls 130km, Detroit 250km) Waterloo – concentration of high tech companies (RIM, Dalsa, Open Text, Google, Sybase, Agfa, ComDev, etc)

  3. Quick Facts…the Numbers • 6 Faculties ( Applied Health Sciences, Arts, Environmental Studies, Science, Math, Engineering) • 29000 undergraduate students, 4800 graduate students, (4500 international), 1100 faculty members • Largest co-operative education program in the world • 16,000 students enrolled • 4500 employers • Top research university three years in a row (Comprehensive category) Researchoce • New: Institute for Quantum Computing and Institute for Nano Technology

  4. More Quick Facts… • $190 M annual research • Only dedicated faculty of Mathematics in North America • World’s largest centre for education in math and computer sciences • Largest concentration of quantum information research in the world • One of Canada’s largest Engineering faculty • Top research university three years in a row (Comprehensive category) Researchoce

  5. Waterloo…in the beginning • 1957 - vision to build close research relationships with industry • Co-op Education Program – 1st in North America (attract students and build industry partnerships) • Focus on Engineering and Math (1st to create a Faculty of Math) • Inventor ownership of intellectual property (an incentive to attract leading & entrepreneurial Researchers)

  6. Intellectual Property Policy • Inventors OWN- no obligation to share with the University (exception for industry sponsored research contracts) • Philosophy: • Ownership attracts high quality entrepreneurial researchers • Incentive is best motivator to promote transfer of technology for societal use and benefit • Result:UW widely acknowledged as most entrepreneurial research environment in Canada • Canada’s most innovative university 20 years in a row (Maclean’s Magazine)

  7. Partnering Relationship • Based on mutual desire to partner in commercialization • Formal Researcher’s Agreement : • Inventor keeps ownership and grants exclusive right to commercialize • Revenue sharing (net of patent cost recovery) Inventor(s) 75% and University (25%) MOST ATTRACTIVE INVENTOR COMMERCIALIZATION ENVIRONMENT IN CANADA (possibly North America?)

  8. Waterloo Commercialization Office(WatCo) • IP Protection (patents) • Prototype Development\Validation • Access to commercialization expertise (staff) • Technical backgrounds cover all facets of Engineering and Physical Sciences • Minimum 8 years private sector experience • Entrepreneur-in-Residence Building Value …….we convert ideas into opportunities

  9. Startup Model • Equity in startup company and grants exclusive license (royalty payments) • Incentive model – all participants in company need to achieve performance milestones to earn stock options • Recruit experienced management “sweat equity” • University provides ongoing “hands-on” support • Inventor provides ongoing technical support

  10. Startup Model Exclusive License Equity, Royalty Milestones Stock Options

  11. Devulcanization process to recycle scrap tires ( 20-30%) • University secured prototype funding from Government • Recruitment of Senior Manager • $750,000 investment and debt financing (2009) • Pilot scale testing (2010) • Partnership negotiations (2011) • Looking for more investment = full scale plant (2012) www.tyromer.com

  12. Other Entrepreneurial Support Systems • Velocity • undergraduate student startup mentoring residence • Velocity Garage – free office space • Venture Fund – funded $1M by former student • Since 2008, over 180 projects, 34 companies created raising $30M in funding and creating over 600 jobs WatCo

  13. Other Entrepreneurial Support Systems..continued • Conrad – Business, Entrepreneurship,Technology • MBET Program – student teams working on startup practicum • Business plan competitions • 50 new startups over past 10 years • WatCo • Scientist and Engineers (SEB) Commercialization Fellowships • Funding partnership with Federal Gov’t • $60k for students to launch hi-tech business • Will support 15 fellowships WatCo

  14. Recent Commercialization Impact • Accelerator Centre : • As of 2011, 19 graduate companies, 84 companies incubated, raising $72M in funding and generating $43M in revenue and over 600 jobs • Velocity • Since 2008, over 180 projects, 34 companies created raising $30M in funding and creating over 600 jobs • WatCo • Since 2009: • 5 startups raising over $2M in seed financing • 24 license agreements with existing companies • Annual licensing revenue of ~ $500k/year • ~ $3M in prototype development funding

  15. Regional Commercialization Partners • Accelerator Centre – North Campus Not for profit business mentoring facility for start-up companies • C4 Network South western Ontario University technology transfer collaboration • Communitech Waterloo regional high tech association – “Digital Media Hub”

  16. C4 Network Commercialization collaboration amongst Southwestern Ontario universities University of Waterloo University of Western Ontario McMaster University University of Guelph Wilfrid Laurier University University of Windsor • • Resource sharing (people) • • Proof of Principle funding • Targeted industry seminars\workshopsy

  17. Accelerator Centre • Located on north campus • Business mentors who provide advice and governance discipline • network of expert service providers including legal, IP, HR, and accounting • on- and off-site organized special networking events • daily networking opportunities with other entrepreneurs

  18. Information Technology company association • Digital Media Hub = 44,000 ft² facility that supports start-ups in the digital media market • Assisted > 450 start-ups with mentoring services, networking, access to capital • Client companies have raised over $300M in venture funding • 573 jobs created by start-ups

  19. Waterloo Entrepreneurial EcoSystem“It takes a village to raise a child” WatCo Business Mentoring facility High Tech Association – “Digital Media Hub”

  20. Startup Snapshot

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