University faculty, as innovators, create intellectual
property, and many create new enterprises that bring them into contact with
private investors. Universities employ faculty as researchers, educators
and developers of intellectual property, not entrepreneurs. When faculty
become part of an enterprise, their role changes and they need special skill
sets to help make the enterprise a success. Can a faculty member become
a great CEO? Can faculty lead in the boardroom and well as in the laboratory?
Today’s guests share their experience on how some university faculty
successfully make the transition.
Discussion:
1: Introductions
a: Dr.
David Barbe
b: Dr.
Thomas Parks
2: Role of universities in
technology commercialization
3: Increasing importance
of the university in economic development
4: Mixing education and building
enterprises
5: University tech transfer
offices and importance of intellectual property
6: Faculty as entrepreneurs
7: 3-legged stool - Relationships
between faculty, universities, and the private VC market
a: MTECH
as intermediary
8: The transition from faculty
to founder
9: Benchmarks for success
a: "Companies
come and go but universities are forever; don't overestimate the chances
of success in a start-up business"
b: "Positive
lab results generally lead to success in academia, but are not sufficient
to guarantee a company's success"
c: "Horses
who begin to lose races get put out to breed in academia, but go to the
glue factory in start-ups"
d: "No
matter how the company fares, a scientist joining a startup can take away
a valuable business education if he's allowed out of the lab once in awhile"
e: "VCs
are in the returns business, not the investment business"
10: Final words of advice
11: Closing - The year ahead |
