Technology Entrepreneurship & Commercialization

2. Technology Entrepreneurship & Commercialization Developing the next generation of Entrepreneurs and the High Growth companies of tomorrow.

3. … And in the beginning it was written – go forth and start companies!!!

4. A process-based approach for turning technologies into business opportunities

5. History • COSEPUP Report:“Reshaping the Graduate Education of Scientists and Engineers,” NAS/NAE, 1995 • NSF / KIETS Grant: “Technology, education, and commercialization: Development of new concepts in integrated education” (1995-1999)Result: a scholarly underpinned process -- TEC

6. Rationale for TEC:Bridge the Gap between Research and Commercial Application Resources Commercialization Resources Research Resources “Valley of Death” Level of Development Research Faculty and Students Entrepreneurs and Business Community

7. The Process or “Algorithm” • Method for crossing the ‘Valley of Death’ • Roadmap for commercialization • Process for information gathering and business opportunity development • Strategic Decision Framework • Common language and shared goals

8. The TEC Algorithm Science& Technology Transform Technologyinto Products/Services Concepts Evaluate Opportunity Strategy Development & Implementation Startup

9. Collect Further Info Product Definition Product Idea Prioritization & Summarization Product Idea Generation Product Description Refinement Decision Ph 1 Market Description • Product AttributeWorksheet • PAMM • Summary TPMWorksheet • TechnologyDescriptionWorksheet • Initial TPMWorksheet Further Technical Development Description/Ideation The objective of the Ideation phase is to develop a set of prioritized product concepts with strong T-P-M linkages

10. Phase 1 Objectives: To eliminate product ideas (not technologies) based on fatal flaws Phase 2 Objectives: To build the business case Phase 1 & 2 Assessments Idea Product Definition Confirmation Functional Assessment Strategic Assessment Decision Phase II Product Redefinition Reject or Retain for Further Refinement

11. Commercialization Strategy Development Iterate Back Commercial Strategy Business Proposal Determination of Strategic Factors Analysis of Complementary Assets Analysis of Core Assets Strategic Components Decision Yes Reject Provides a decision making process leading to the commercialization strategy and the business proposal.

12. The Top Line has to“make sense” for an opportunity toexist.

13. Creating the Business Proposal • Putting the components together: • ensure that the core technology is commercially viable • identify required complementary resources • make partnering, leveraging, and acquisition decisions regarding essential assets • networking and placement of opportunity with partners & investors IP Mgt Business Plan Marketing Research Legal Services CORE Technology Accounting Services Outsourcing Facilities Mgt Mgt Team Building the Emerging Case

14. Student Engagement • Graduate Business, Engineering and Science studentsare placed in multi-disciplinary teams • Each team is assigned a portfolio of technologies anda team of Executives-in-Residence as mentors • Students apply the TEC Algorithm to their portfoliosas they learn each phase • The final product is a Business Plan suitable as the basis for launching a new, high growth venture

15. Everyone is Out of their Comfort Zone Business Uncertainty Incomplete Information Risk Scientists & Engineers • Algorithm provides: • Structure • Lexicon • Something to believe in Others

16. Program Environment • Provide incentive – start company • Align goals and rewards – grade on decisions • Provide support – mentors

17. Team Based Structure • Self-directed • Grade based on decisions made • Roles assigned and changed • Mentors

18. Student Impact • Encourages alertness to entrepreneurial opportunities among graduate scientists and engineers. • Enables career advancement - TEC graduates have gone on to become entrepreneurs, business leaders and company founders. • Provides valued skills that lead to advancement and promotion within organizations.

19. Local Impact • Responsible for attracting $200+ Millionof Venture Capital to Triangle companies • Over 350 new jobs created • 250+ graduates of the program • Consulting and Training in Fortune 500companies • Adoption of the processes by large corporations

20. Start-ups and Licenses Created or Supported MYCOSOL Known Start-ups by TEC’s Graduates Cronos 12+ Years of Experience and Results

21. Diffusion of the TEC Approach Universities University of Cape Town Instituto Superior Técnico University of Aveiro Universidade do Minho Universidade do Novo Ohio State University University of Ljubljana Universidade do Porto Loughborough University Universidade de Coimbra Dublin City University Escola de Gestão do Porto Universidade Técnica de Lisboa Universidade Católica Portuguesa Deadeok Innopolis Venture Assoc

22. Roger DeboDirector TEC Program North Carolina State University Campus Box 7229 Raleigh, NC 27695-7229 Email: Roger_Debo@ncsu.edu Phone: 919.515.5717 Fax: 919.515.9813