Transcript University of Alaska Fairbanks Research Foundation

University of Alaska Fairbanks
Research Foundation
A tool for translating university intellectual property
to economic development and managing risk
Dan White, Associate Vice Chancellor for
Research, UAF
Adam Krynicki, IP Specialist, UAF
Why
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Take and isolate risk
Hold equity
Make decisions at the speed of business
Support UAF in ways that are difficult for state
entities
Increase start-up activity
What
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Not-for-profit corporation
Often referred to by the IRS designation
501(c)(3)
Run by an independent board of directors
Staffed by UAF employees
Who
Board structure could include
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Management from UAF
Regents
Faculty members
Community members
When
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The time is now – deal flow is growing and will
support the organization
Peer institutions formed research foundations
in mid 1900’s
WSU, Virginia Tech, Iowa State, Wisconsin
and many others
Relationship to UAF
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Arms length - legally separate entity
But UAF has board membership and
significant but not complete control
Documentation needed
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Articles of incorporation
Bylaws of the corporation
Agreement between UAF-RF and UAF
Other arrangements
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Clear conflict of interest management approval
process
System to allow “rental” of university space
and resources
Summary
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To have the capacity to build startups, we need:
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Means to take and isolate risk;
Methods to hold equity in startups;
Flexibility to make decisions at the speed of business;
Methods to manage conflict of interest for innovators
and for industry.
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Future actions
Board of Regents and President’s Approval
Establishment of Board of Directors
Articles of Incorporation and bylaws
Maintain a lean startup approach
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Equity, risk management
Scale programs as they become sustainable
Questions?
If you have any comments or questions, please
contact:
Dan White at [email protected]
Adam Krynicki at [email protected]