University of Alaska Fairbanks Research Foundation

1. 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

4. Why • 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

5. What • 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

6. Who Board structure could include • Management from UAF • Regents • Faculty members • Community members

7. When • 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

8. Relationship to UAF • Arms length - legally separate entity • But UAF has board membership and significant but not complete control

9. Documentation needed • Articles of incorporation • Bylaws of the corporation • Agreement between UAF-RF and UAF

10. Other arrangements • Clear conflict of interest management approval process • System to allow “rental” of university space and resources

11. Summary • To have the capacity to build startups, we need: • 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.

12. Future actions • Board of Regents and President’s Approval • Establishment of Board of Directors • Articles of Incorporation and bylaws • Maintain a lean startup approach • Equity, risk management • Scale programs as they become sustainable

13. Questions?

14. If you have any comments or questions, please contact: Dan White at dmwhite@alaska.edu Adam Krynicki at akrynicki@alaska.edu