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Starting a Company from Research at the UW

Starting a Company from Research at the UW. James A. Severson, Ph.D. Vice Provost, Intellectual Property and Technology Transfer January 30, 2007.

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Starting a Company from Research at the UW

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  1. Starting a Company from Research at the UW James A. Severson, Ph.D. Vice Provost, Intellectual Property and Technology Transfer January 30, 2007

  2. The mission of UW TechTransfer is to extend the impact of University of Washington research through the creation of partnerships that encourage investment in innovation.

  3. Companies from the UW • Over 200 companies stared by UW students, faculty or with UW technology • Over 9200 people employed in these firms • Over $3 billion in sales by these companies in FY2002 • 63% of these companies are still active • 89% of these companies are/were located in Washington state

  4. Technology Gap Innovation Fund • Designed to enhance the commercial value of UW discoveries • Partnership with WRF • Royalty Research Fund • External review panel • Increase ability to license discovery or to start a company • Commercial potential • Milestones • Budget

  5. LaunchPad Dynamics Partnering to catalyze business formation LaunchPad Teams People Resources UW Researchers • Innovation • Manage IP Assets • Aggregate IP Rights • Plan • Mentor • Analyze • Guide Company Creation UW TechTransfer VCs • Mentoring • Networking • Strategic Planning • Market Focus Company Creation Entrepreneurs Business Leaders UW Business • Competitive Analysis • Legal Company Creation UW Law

  6. Expectations • Business plan • Will not do an “equity only” deal • Equity must represent fair value for the technology • Diligence terms in any license • If a UW employee is involved • Will not negotiate directly with employee • Involvement must be approved

  7. Possible Roles • Leave of absence • Reduced appointment • Scientific Advisory Board • Consulting role with company

  8. Pathways • Option to license • Raise money • Identify manager • License agreement • Financial terms • Diligence • Combination – license pre-negotiated

  9. New Policies for Outside Activities • Leadership of the Technology Alliance • Legislation sponsored by Governor Gregoire • Amendment to State Ethics Act • UW given the opportunity to develop polices that are within the federal guidelines to manage consulting and outside work that will facilitate technology transfer • Clarify – enable • Additional flexibility with approvals for outside work

  10. New Policies for Outside Activities • Outside Professional Work Policy • APS 47.2 – Personal Use of University Facilities • APS 47.3 – Outside Consulting Activities and Part-Time Employment • GIM-10 – Significant Financial Interest Disclosure Policy

  11. Use of Facilities • Allows de minimus use of university resources when related to approved outside work or an activity related to technology transfer • Clarifies previous law and enables day-to-day interactions • Offices, telephones, computers, and UW email accounts can be used for certain outside work that is related to research and technology transfer • Little cost to the university, does not interfere with normal operations, etc • Caution still required – not all interactions are allowed • To take advantage of this change – activity must be approved

  12. Questions? • Conflict of interest and GIM-10 - Office of Research • Outside work - Academic Human Resources

  13. James A. Severson, Ph.D. Vice Provost, Intellectual Property and Technology Transfer UW TechTransfer University of Washington 4311 11th Avenue NE, Suite 500 Seattle, WA 98105 Voice: 206-543-0905 Fax: 206-543-0586 Email: jasever@u.washington.edu Web: http://depts.washington.edu/techtran/

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