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Overview

Overview. Orange Coast Medical Ventures. Overview. Orange Coast Medical Ventures Overview. OCMV was the first incubator to be facilitated by OCBIN*, a public benefit initiative of the University of California at Irvine.

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Overview

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  1. Overview Orange Coast Medical Ventures Overview

  2. Orange Coast Medical Ventures Overview • OCMV was the first incubator to be facilitated by OCBIN*, a public benefit initiative of the University of California at Irvine. • OCMV was established to commercialize the inventions of the faculty and researchers of UCI's Medical School and the Southern California Medical Community. * Orange County Business Incubation Network www.ocbin.org

  3. Board of Advisors • Greg Ruehle CEO – Orange Coast Medical Ventures • Paul DeRidder, M.D. Tech Coast Angels • Shiv Grewal Partner - Stradling, Yocca, Carlson & Rauth • Jim Armstrong Managing Director, Clearstone Venture Partners • Steve Wilson Finance • James Hill, M.D. J.D. Partner – McDermott Will & Emery LLP • Doug Bennett Oversight Committee Chair

  4. Media Coverage • Getting Ready to LaunchThe Orange County RegisterMay 10, 2007 • The New Device IncubatorsStart-Up MagazineJune, 2007 • Incubator InnovatorsThe Frank Peters ShowOct. 1, 2007

  5. About UC Irvine and UCI Medical Center

  6. UC Irvine Facts & Figures • U.S. News and World Report: 13th Best Public University in U.S. • 4 Nobel Laureates • $3.6 Billion Annual Economic Impact on OC • 27,000 Students • 1,900 Faculty • 8,800 Staff • Founded in 1965

  7. UCI Invention Productivity

  8. The OCMV Ecosystem

  9. The OCMV Ecosystem Investors U.C. Irvine Corporate Partners OCMV PortfolioCompany Mentors Economic Development Service Providers

  10. Corporate Partner Program • Participate in OCMV ecosystem • Benefits from relationships with all constituencies • Interact with UCI faculty & researchers

  11. Preferred Provider Program • Preferred provider to portfolio companies • Limited # of preferred providers per category • Participate in OCMV ecosystem • Gain leads from other OCMV participants

  12. Mentor Program • Consists of Experienced Executives • Investors • Service Providers • Corporate Partners • Individuals • Pro Bono Guidance During Incubation • Potential for Employment or Contracts

  13. Paths to Commercialization

  14. Investing In OCMV

  15. Investment Overview • OCMV is a Limited Partnership • Invests in UCI and community inventions • Investors Own shares in OCMV’s LP • Fund life: 3 years • Share price: $125K • Variable discount for founding partners • Participation in OCMV ecosystem

  16. Investment Allocation and Return Series A, B… Investors Investment OCMV L.P. Seed Capital Portfolio Companies Returns Returns License and ContractFees License and ContractFees Salary Returns Government Agencies U.C. Irvine Salary Inventors Grants Grants Grants Grants Grants Grants Grants Inventors Shareof License Fees Inventors Shareof License Fees Inventors Shareof License Fees Inventors Shareof License Fees Inventors Shareof License Fees Inventors Shareof License Fees Inventors Shareof License Fees Inventors Shareof License Fees Inventors Shareof License Fees Corporate Partners Normal Flow Optional Flow

  17. Virtual Company No payroll Possible equity for contractors No office/lab needs IT equipment & hosting Primary expense is T&E Transactional legal expenses Marketing expenses Budget up to $10K/quarter Traditional Company 2-3 paid staff May be directed research grant May need offices/lab space IT equipment and hosting T&E Transactional legal expenses Marketing expenses Budget up to $75K/quarter Two Portfolio Models

  18. Vetting Process • Admission Criteria • Intellectual property • Market size and growth rate • Scalability of company and technology • Sustainability • Key individuals - experience and skills • Evaluation Process • Committee member becomes sponsor • Sponsor works with company to create pitch • Pitch delivered to full committee • Committee accepts, rejects or defers

  19. Greg Ruehle, CEO c/o Office of Technology Alliances 380 University Tower University of California, Irvine Irvine, CA. 92697-7700 Office: 949-824-7295 Cell: 949-212-1983 Fax: 949-824-2899 E-mail: G355@aol.com

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