Transcript Lawrence Aronhime - FLC Mid

Creating Entrepreneurial Opportunities
by Educating for
Technology Commercialization
at Johns Hopkins University
FEDERAL LABORATORY CONSORTIUM
MID-ATLANTIC REGIONAL MEETING
September 13-15, 2005
Cumberland, Maryland
Lawrence Aronhime
Benjamin Gibbs
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The Johns Hopkins University
 Founded in 1876 in Baltimore, MD
 The first research university in the U.S.
 Homewood campus
 Whiting School of Engineering
 Krieger School of Arts and Sciences
 4000 undergrads and 1400 grads
 Other schools include
 Bloomberg School of Public Health
 School of Medicine
 Applied Physics Laboratory
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The W.P. Carey Program in
Entrepreneurship and Management
 Established in 1996
 Part of the Center for Leadership Education within
the Whiting School of Engineering
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No major in business is offered, only a minor
 22+ courses every semester
 900+ undergraduate students every semester
 About 35% of students from Engineering
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Teaching Entrepreneurship
 According to James Fiet of the University of
Louisville, we need to get beyond entrepreneurial
profiles, anecdotal recommendations, rules of thumb,
and “war stories”
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According to Robert Hisrich of Case Western, “no
unique combination of traits, experiences, and
acquired skills differentiates a successful entrepreneur
from an unsuccessful one, or even from a manager.”
 Again, according to Fiet, the discovery process is at
the heart of what we mean by entrepreneurship
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Entrepreneurship is about discovering a valuable
economic opportunity and exploiting it
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Entrepreneurial Competence
 “Entrepreneurs develop a special competence in
interpreting information that signals the existence of
opportunities to create new wealth”
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“Signals consist of new information that has the
capacity to change our understanding of the future”
 “Entrepreneurial competence consists of knowledge
that cannot be easily transmitted to another agent
because it is often tacit knowledge which has been
acquired in response to learning by doing”
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Thus, “entrepreneurial competence can be improved”
And it can be taught
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Teaching Entrepreneurship
 The key is learning by doing
 Opportunities to learn by doing at Hopkins
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Tech commercialization projects
Business opportunity program
Practicum in entrepreneurship
Student campus enterprises
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Growing a Tech Commercialization
Program
 Began in the management accounting class
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First projects came from undergraduate
design teams in biomedical engineering
 And expanded from there to
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Mechanical engineering design teams
The Whiting School of Engineering
The schools of Medicine and Public Health
The Applied Physics Laboratory
The federal lab at Indian Head
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Working with Tech Transfer
Offices
 Johns Hopkins University
 Office of Licensing and Technology
Development
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BSPH Research Administration
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Engineering, Arts and Sciences, Medicine
Public Health
Office of Technology Transfer
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Applied Physics Laboratory
 Naval Surface Warfare Center, Indian Head
Division
 Technology Transfer Office
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Student Projects
 Stage 1 Assessment
Description of technology and its advantages over prior art
 Strength of the intellectual property claims
 Possible applications and fields of use
 Market size and demand
 Competitors
 Opinions of experts
 Export controls
 Stage 2 Assessment
 Detailed description of the value proposition
 Potential licensees
 Path to commercialization
 Valuation
 Spec sheet
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The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Spring 2005 Projects
Project
Sponsor
Patent
Thin film vanadium dioxide spatial light
modulators and methods
JHU Applied Physics Lab
Issued
Machine health monitoring using
signature analysis and lasers
JHU Applied Physics Lab
Pending
Compressed gas vehicle fuel storage
system
JHU Applied Physics Lab
Issued
MEMS multi-directional shock sensor
Indian Head
Pending
Method and device for clearing
firebreaks and controlling fire
Indian Head
Pending
Alternative system that provides
cryptographic security, auditing and
rapid computer access
Whiting School of
Engineering
Pending
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Sample Fall 2005 Projects
Project
Sponsor
Patent
Explosively driven impactor grenade for
potential use in law enforcement
Indian Head
Issued
Method for depositing cadmium plating
for corrosion protection of steel
workpieces
Indian Head
Pending
Method and system for automated
JHU Applied Physics Lab
detection of micro-calcification clusters in
mammograms
Pending
Remote monitoring and relaying for wrist
watch alarm
JHU Applied Physics Lab
Pending
Clip-on type wireless sensor for
detecting vapors emanating from
explosive type organic compounds
JHU Applied Physics Lab
Pending
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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The Business Opportunity Option
Students who complete assessments for APL can
exercise an option to
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license the technology
establish a new venture
complete due diligence
work with APL researchers to close any technology
gaps
work with APL patent counsel and tech transfer
managers as needed
find customers and licensees
find investors
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Practicum in Entrepreneurship
 Question: how can we continue to support
students who have not graduated, but want to
pursue the business opportunity?
 Answer: a new course
 Students apply to enter
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Students must submit an initial business plan
They form an LLC in the first week of class
They establish milestones for prototypes,
customers, and investors
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Future
 New technology commercialization course in Fall
2005
 Expand
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the projects to other departments and federal labs
the support network for student teams
the involvement of local business leaders
the number of students exercising options
the number of projects receiving funding
 Move student ventures to local incubators after the
practicum
 Student agency for assessing new technology
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Successes to Date
 Licensing deal and funding for a medical device
developed by BME to detect pre-term labor
 Commitment to develop a bio-repository at SPH
 Four students placed with tech commercialization
firms and two in internships
 Formation of two student-owned ventures
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One group exercised its option for an APL technology
One group licensed a technology from the Navy
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Baltimore Shipping Technologies
 Formed on February 17, 2005 by students from Prof.
Aronhime’s Managerial Accounting class
 We were the first students to participate in the
Practicum in Entrepreneurship
 Established to license the Joint Modular Intermodal
Container technology from NSWC Indian Head
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Our Goals
 License the technology from Indian Head
 Adapt the military design to suit commercial needs
based on our market research
 Identify and partner with companies capable of
assisting the commercialization process
 Launch the commercial JMIC
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Support
 Professor Lawrence Aronhime, JHU
 Lani Hummel, Director of Industrial Initiatives, JHU
 Technology Development Corporation of Maryland
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(TEDCO)
Maryland Technology Extension Services (MTES)
Maryland Department of Business and Economic
Development (DBED)
Emerging Technologies Centers (ETC)
Dr. J. Scott Deiter, Head of Technology Transfer,
Naval Surface Warfare Center, Indian Head Division
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Progress to Date
 Officially licensed the commercial rights to specific
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fields of use for the JMIC from the Navy
Established a CRADA with IHDIV to further develop
the JMIC for commercial markets
Secured $75,000 in development financing from
the TEDCO Maryland Technology Transfer Fund
(MTTF)
Identified a potential manufacturing partner
Working with Maryland DBED to identify potential
first users/customers of the commercial JMIC
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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Future Development
 Complete the design of the commercial JMIC
and produce prototypes
 Test the prototypes at several specific
laboratories that specialize in logistics
packaging
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UPS lab in Chicago
Sardo Lab at Virginia Tech
 Partner with beta customers
 Commercially launch the JMIC by February
2007
The W.P. Carey Program In Entrepreneurship and Management
The Johns Hopkins University
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