Transcript Resources @ PSU to help start your idea

Resources @ PSU for your
new product or venture idea students, academics and
courses
Town Hall Meeting on
Entrepreneurship
Friday Nov. 30, 2012
Liz Kisenwether
Tim Simpson
1
I have a great new
product idea, but how
do I get started?!?
Confused_guy.jpg
www.adwaccountants.com
2
Student
Organizations
Courses &
seminars
Funding +
Mentoring
You and
On-line
resources
Events
your
idea
Competitions
with prize $$
Help getting
ideas built
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the-future.jpg; www.lookingforpurpose.com
PSU programs…
E-SHIP Minor [18 credit]
http://www.sedtapp.psu.edu/entrepreneurship/
Humanitarian Engineering and Social
Entrepreneurship (HESE) certificate
http://www.sedtapp.psu.edu/humanitarian
4
Proposed Intercollege Minor in
Entrepreneurship and Innovation (ENTI) has
three core courses, totaling 9 credits
Entrepreneurial
Mindset [3]
Current
course
(Fa12/Sp13)
Final
course
listing
7/6/2015
MGMT 297F
MGMT/ENTR215
Entrepreneurial
Leadership [3]
ENGR 310
ENGR/ENTR310
New Venture
Creation [3]
MGMT/IST/ENGR 425
MGMT/ENTR425
5
Students select from a variety of content
“clusters” to form their ENTI Minor
ENTI Minor / Three Core Courses (9 credits)
Clusters
…future…
Tech.B
ased
9 credits
(minimum) E-SHIP
Home
college:
New
Venture
New
Media
Food
& BioInnov.
Social
E-SHIP
Arts & Arch.
IST
Science
Engin.
Smeal
Comm.
Ag. Sci.
Engin.
Hospitality
Management
???
7/6/2015
6
Examples of existing e-ship courses…
College of Arts and Architecture
ART101 - Web design
ART203 - The Art of Web Design
College of Health and Human Development
HRIM 497F – Entrepreneurship in the Hospitality Industry
College of Communications
COMM493 – Entrepreneurship in the Information Age
College of Engineering
ENGR 312 - Sustainable Energy Entrepreneurship
ENGR497K - Social Entrepreneurship
7
…..and more e-ship courses…
College of Information Science and Technology
IST250 - New Media and the Web
IST297E - Digital Entrepreneurship & Innovation
Business Fundamentals (Sp2013)
IST 402 – Emerging Issues and Technologies
Smeal College of Business
MGMT/IST/ENGR425 - New Venture Creation
MGMT/IST/ENGR426 - Invention Commercialization
MGMT427 - Managing an Entrepreneurial Start-Up Company
MGMT431 – Entrepreneurship and
Small Business Management
8
…and seminars.
Penn State Small Business Development
Center (SBDC)
– Free! The First Step of Starting a Business
– http://sbdc.psu.edu/the-first-step.htm
9
Mentoring + Funding
Lion Launch Pad
www.lionlp.com
110A
IST East
PSU Sparkplug
www.thesparkplug.net
(seed $ for PSU students)
10
Competitions with Prize $$
Fall: Ag. Sci Springboard Competition
– $5000 1st place, $1000 2nd place
– http://agsci.psu.edu/entrepreneur/competitions/springboard
Spring: Smeal Idea Pitch Competition
– $2000 1st place, $1000 2nd place,
$500 3rd place
– http://ideapitch.smeal.psu.edu/
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E-Ship Events on Campus
IST Start-up Week
[late March]
Town Hall Meetings on
Entrepreneurship [each
Semester]
College of Engineering
Entrepreneurial Alumni
Speaker Event [one per
Month]
[each
November]
College of Engineering
Intellectual Property Seminar
[each October]
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Off-campus Organizations
http://newleafinitiative.org/
http://thecospace.com
Alliance for Innovation and Business
Development in Central PA
meetings on last Tuesday of each month; 5:30 7:30 / free dinner!
13
Student Organizations
Innoblue.org
Nittany Entrepreneurs
14
On-line resources
Teach yourself!
http://lynda.psu.edu
http://teamtreehouse.com/
Guidance from leading entrepreneurs:
www.ecorner.stanford.edu
15
Help getting ideas built
Learning Factory
www.lf.psu.edu
• Supports engineering capstone design projects
– Over 150 projects/year with entrepreneurs, start-ups,
small/mid-size firms, and large multi-national companies
– Teams of 4-6 students from any one of 12 majors
– Partner with Ag, Arts & Arch, Bus, EMS, HHD, IST teams
– Students own IP but can assign it to the company
• Supports many other hands-on design projects
Visit the Fall Design Showcase, Th, Dec. 13, 1-3pm in BJC!
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Open M-F 8am-10pm on west campus
Equipment:
Prior to use:
• General safety
• Machine training
• Welding training
•
•
•
•
•
•
•
Power/hand tools
Rapid prototyping
Sheet metal forming
Laser cutter
Water jet
Mills/lathes
Welding
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Students helped design and prototype
ideas for entrepreneurs…
www.appekapps.com
Evive Station
www.evivestation.com
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www.bertbrain.com
…and used prototypes on Kickstarter
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….more help getting ideas built…
PSU DIGI-Net (credit: Ryan Russell and team, Graphic Design)
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CEDE - Center for Engineering Design and
Entrepreneurship
www.cede.psu.edu
RepRap Users Group - Open-source 3D Printing
https://sites.google.com/a/psu.edu/penn-state-reprap
Photo by:
Richard
Devon,
SEDTAPP
21
Add these people to your network!
Ag Springboard / Mark Gagnon [email protected]
Alliance for Innovation / Perry Babb [email protected]
HESE / Khanjan Mehta [email protected]
Innoblue / Kathleen Warner [email protected]
E-SHIP Minor / Phil Boyer [email protected]
Learning Factory / Mary Frecker [email protected]
Lion Launch Pad and ENTI / Liz Kisenwether [email protected]
Integrated Design Solutions / Rick Hoover [email protected]
New Leaf & co.space / Spud Marshall [email protected]
Nittany Entrepreneurs / Mac Frederick [email protected]
RepRap Users Group / David Saint John [email protected]
Smeal Idea Pitch / Robert Macy [email protected]
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Ronald J. Huss
Associate Vice President for Research
and Technology Transfer
Director, Office of Technology Management
phone:
863-5988
email:
[email protected]
website: www.research.psu.edu
Penn State Data
•
•
•
•
•
•
•
•
$807M Research Expenditures FY2012
140 invention disclosures filed per year
80 provisional patent applications filed per year
60 U.S. patent applications filed per year
40 U.S. patents issued per year
775 U.S. patents issued to PSRF
15-20 license agreements executed per year
5-7 option agreements executed per year
Paths to Commercialization of Intellectual Property
 IP licensed to existing company
o Licensing revenue (40:40:20)
o Licensee sponsors research at Penn State
o Consulting opportunity for researchers
o Employment opportunity for students
 IP licensed to start-up company
o Penn State researchers not actively involved with start-up
company
o Penn State researchers actively involved with start-up company
▪
▪
▪
▪
Founder
Equity Holder
Chief Technology Officer/Chief Scientific Officer
Employee
Since 1999 there have been 79 licensed Penn State start-up companies
 Average of 5 new start-up companies formed per year in recent
years
Examples of Successful Penn State Start-up Companies
 Advanced Inhalation Research
o Company formed in 1997
o Technology for the inhalation of drugs
o Equity-based license agreement
o Purchased by Alkermes in 1999
o Liquidation of equity generated $1.4 million for Penn State
Examples of Successful Penn State Start-up Companies
 Reva Medical
o Company formed in 2001
o Stent and stent coatings
o Initial Public Offering in 2010; raised $85 million
o Liquidation of equity generated $1.5 million for Penn State
Examples of Successful Penn State Start-up Companies
 Anacor Pharmaceuticals, Inc.
o Company formed in 2002
o Boron-based chemistry platform for anti-fungals,
anti-inflammatories and antibiotics
o 1 product in Phase 3 clinical trials
o 5 products in Phase 2 clinical trials
o Initial Public Offering in 2010; raised $70 million
o Penn State equity has not been liquidated
Examples of Successful Penn State Start-up Companies
 GelMed Sciences (formerly EIEICO)
o Company formed in 1999 based on 3 agricultural technologies
o First Penn State start-up company with an FDA-approved
product
Developing simpler/more straightforward license agreements
for Penn State start-up companies
Deferment of reimbursement of patent expenses by Penn State
start-up companies
TechCelerator@StateCollege
200 Innovation Boulevard
State College, PA 16802
TechCelerator Goals
• Increase the number of successful business
start-ups in Centre County
• Easy access, one stop shop for clients
• Leverage the continuum of business
development services
200 Innovation Boulevard
State College, PA 16802
Core Partners
Ben Franklin Technology Partners
CCIDC / CBICC
Penn State Office of Technology Management
Innovation Park
Small Business Development Center
200 Innovation Boulevard
State College, PA 16802
Community Resources
All community and State financing resources
Other PSU facility, equipment, and knowledge
Community professional talent as needed:
Entrepreneurs as speakers, mentors, networking
Financing, banking, legal, accounting
Referrals into the TechCelerator programs & “triage”
200 Innovation Boulevard
State College, PA 16802
TechCelerator “Programs”
• Research To Start-Up
• 4-week TechCelerator - Faculty & Grad Students
• 8-week TechCelerator for Entrepreneurs
200 Innovation Boulevard
State College, PA 16802
Research to Start-up
• Targeted towards faculty & grad students
• A 90 minute overview
• Four sessions so far, 180 registrants
• Strong interest from faculty & grad students
200 Innovation Boulevard
State College, PA 16802
4-week TechCelerator
Focus on Faculty, Grad Students & Post-Docs
Educate and Motivate
Potential University Spin-offs
200 Innovation Boulevard
State College, PA 16802
4-week TechCelerator
Week 1
“PSU Intellectual Property & You”. The rights and responsibilities of faculty desiring to
commercialize their IP. Describe the process & hear from OTM on patents, options,
licensing, and cooperation.
Week 2
Risk tolerance discussion.
Live presentation by a successful entrepreneur – ex. Tom Lancaster, SmartCells
Doug Granger, Salimetrics
Week 3
Business Model Development.
Week 4
Funding options - Ben Franklin, VIF – SBIR, & Angel funding
Faculty presentations - Where will you go from here to move this forward?
200 Innovation Boulevard
State College, PA 16802
4-Week TechCelerator
Laser Tomography
Starch Fibers
200 Innovation Boulevard
State College, PA 16802
8-week TechCelerator
200 Innovation Boulevard
State College, PA 16802
8-Week TechCelerator
• Select 6 serious start-up
opportunities from the
region
• Requires a time & effort
commitment (minimum
4-5 hrs/wk)
• Range of business types
• Selection criteria
includes near term
progress, funding and
market viability
200 Innovation Boulevard
State College, PA 16802
8-Week TechCelerator
• Program focuses on: Understanding markets,
customers, market validation, minimum viable
product, Business Models, legal structure,
financials, and Intellectual Property.
• 2 Classes, 12 participants: formed 12
companies, >$700K start-up funding, 3
Incubator tenants, + 23 full or part-time
employees
200 Innovation Boulevard
State College, PA 16802
Next Offerings?
• Research To Startup
– February 2013
• 4-Week TechCelerator
– March 2013
• 8-Week TechCelerator
– April/May/June 2013
200 Innovation Boulevard
State College, PA 16802
Company Profile:
Lin Wang, CEO
200 Innovation Boulevard
State College, PA 16802
Summary - TechCelerator Goals
• Increase the number of successful business
start-ups in Centre County
• Easy access, one stop shop for clients
• Leverage the continuum of business
development services
200 Innovation Boulevard
State College, PA 16802
200 Innovation Boulevard
State College, PA 16802