The Role of University Tech Transfer Offices in Starting New Companies

1. The Role of University Tech Transfer Offices in Starting New Companies Steven A. Gedeon, PhD, MBA, PEng sgedeon@ryerson.ca

2. Strategy • Differentiation from the Competition • Find a Distinctive Competency that Matters • Concepts apply to Universities and University Tech Transfer Offices • OPIC can Differentiate on the Basis of New Company Startups

3. Tech Transfer vs. Startup • Tech Focus • Articulate the IP • Control/Protect the IP • Sell the IP • IP is the Value

4. Tech Transfer vs. Startup • Tech Focus • Articulate the IP • Control/Protect the IP • Sell the IP • IP is the Value • People Focus • Articulate the Vision • No Control Possible • Sell the Product/Service • People are the Value

5. Fundamental Shift in Focus • From Tech to People • From Patents to Plans • From Control to Support • From IP/Tech to Products/Services

6. Newco Startup Process OPIC ORCP Entrepreneurship Program Student Entrepreneurship Clubs CEO Fusion Center “Campus Fusion” “Start Me Up” PoP $ PoP $ Idea Team Plan Traction Resources Profs Students Businesses? Students Pros Sales LoI, MoU References Angel $ People

7. Venture Capitalists (VCs) • In General… • Professional Money Managers • NOT normally a source of funding for small startups • They Think a 7 Year Old Company with $5M/yr rev is still a Startup! • Must be a BIG Opportunity • Should have > $1Million per year in revenues already • Must have a team, a plan, existing clients, IP… • You Can’t Get Money If you Need It!

8. Angels • In General… • Meet the OSC Exemption Rules • $150K/yr or $1Million Net Assets • Wealthy People DO NOT have to give you Money! • They WILL NOT Chase You • They have Strong Egos • They Invest Because they Like You and Believe in Your Vision (They Invest in People) • They are Entrepreneurs (and can vicariously live the dream again through you)

9. Questions ? Steven A. Gedeon, PhD, MBA, PEng sgedeon@ryerson.ca