building a university innovation ecosystem to spark regional reviatlization

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Building a University Innovation Ecosystem to Spark Regional Revitalization: Lessons from Carnegie MellonLenore Blum Director, Project Olympus, Co-Director, CMU Center for Innovation and Entrepreneurship

David Mawhinney Director, Don Jones Center, Co-Director, CMU Center for Innovation and Entrepreneurship

Bob Wooldridge Director, Center for Technology Transfer and Enterprise Creation (CTTEC)

Building a University Innovation Ecosystem to Spark Regional Revitalization: Lessons from Carnegie Mellon

The Pittsburgh RenaissanceCarnegie Mellon, its Role, its Programs and Key Features:• Inside-Out: Creating Winning Ventures from Cutting-edge University

Research/Great Ideas• Creating a Vibrant Alumni Entrepreneurial Network• Tech Transfer’s Standard Deal for Spin-offs

Pittsburgh•Innovative•Resilient•Bridging communities•Can-do culture

Pittsburgh•A model for regions across the country that are re-inventing/re-vitalizing themselves

Rise from rust : Pittsburgh transformed itself over 30 years

October 28, 2013 6:21 PM

The great transformation from steel production to education and medicine -- "eds and meds" -- took advantage of existing strengths and made them grander. Carnegie Mellon University quickly embraced the new computer age. The medical institutions, led by UPMC, today the region's biggest employer, went from strength to strength with inspired leadership.

• Over the 5-year period (2008-2012), the Pittsburgh region saw $1.3B being invested in the region's early stage technology companies

• Pittsburgh experienced a dramatic increase in the number of very early stage companies attracting funding with pre-revenue companies nearly doubling

--an indicator that the research universities and broader entrepreneurial community are starting the next generation of promising technology companies that will ultimately drive the region's future growth.

Pittsburgh: A Community of Innovation

OTHERTECHNOLOGIES

IdeaDevelopment

Startup Early Growth Rapid Growth

PRA – Attraction and Support Services/Allegheny Conference

UN

IVE

RS

ITIE

S/ E

ds

& M

eds

leve

rag

ing

$$

bill

ion

$$ r

esea

rch

Maturity Reinvention

Innovation Works (IW)

AlphaLab

LIFESCIENCES

INFORMATIONTECHNOLOGY

NON-TECH

Neurological Treatments

Drug DiscoveryTissue/Organ Engineering

Medical DevicesPLSG

IDEA FOUNDRY

INNOVAT IONS

PRA=Pgh Regional Alliance, PTC=Pgh Technology Council, PLSG= Pgh Life Sciences GreenhouseKIZ = Keystone Innovation Zone (NB. This diagram is a modification of a TTC slide)

Government Foundations Angels VCs TiE Pgh

Pittsburgh Technology Council – Trade Association

PowerUp Pittsburgh

The collaboration between the two schools helps to raise the profiles of the University of Pittsburgh and Carnegie Mellon University to among the world's best

Read more: http://www.post-gazette.com/#ixzz11JE8Vck3

Interdisciplinary Collaborative Innovative Can-Do Culture

18 Nobel Laureates

John F. Nash, MCS 1948Economic Sciences 1994

Herbert Simon, SCS/TPR FacultyEconomic Sciences, 1978

Edward Rubin, CIT FacultyPeace, 2007

Allen Newell SCS Faculty,1975

Raj ReddySCS Faculty, 1994

Manuel Blum SCS Faculty, 1995

11 Turing Awards

Kai-Fu Lee, SCS 1988 Jonathan Kaplan, Tepper 1990,Open Field Entrepreneurs Fund

Red Whittaker, Robotics Faculty

100’s of Innovators & Entrepreneurs

Entrepreneurship:Integrative Experience

Formed from a partnership betweenProject Olympus and Donald H. Jones Center

(cs/technology) (business)

CIT, Fine Arts, Dietrich, Heinz, MCS, SCS, Tepper

Council of Deans

Faculty Liaisons

Fine Arts

Engineering Humanities/Social Sciences

SciencesComputer Science

Business

Pubic Policy/Managem

ent

Innovation Partners

Disruptive HealthcareTechnologies Institute

• We are sitting on a goldmine of potentially commercializable research

Untapped Research/Innovation

Why Olympus?

What do students want?

Copyright © Lenore Blum, 2013

2007

What do students want?

•CONNECTIONS

•OPPORTUNITIES to try out their ideas and learn from mistakes

Copyright © Lenore Blum, 2013

2007

At the core of Olympus operation are its PROBEs (PRoject-Oriented Business Explorations) where faculty and students explore the commercial potential of their cutting-edge research and innovations.

Copyright © Lenore Blum, 2013

• Micro-grants (***Spark Grant Fund***) • Space, Equipment

• Advice, Education, Assistance, Mentors• Networks, Connections, Contacts

• Visibility

PROVIDES

Copyright © Lenore Blum, 2013

Project Olympus Start-Ups

Project Olympus Start-Ups

• >130 PROBEs (2/3 student-generated)

• ~90 Companies formed (2/3 students)

• >$65 million in initial follow-on funding for PROBEs and spin-offs (+recent acquisitions)

• 10 SBIRs

• 13/21 OFEF grants to recent graduates

• 1/3 AlphaLab Accelerator Companies

By the Numbers(Jan 07- today)

Mindkin Fooala

M-Tool

Tropical Health

Semiotic

BeatBots

•Students bring tremendous energy

•PROBEs provide unique experiential learning

•Commercial endeavors resulting from faculty-based research have great potential to act as engines for the economic growth and recovery.

•Benefits the region, the nation and the world.

Innovations Fellows Program

Creating a Vibrant Alumni Entrepreneurial Network

Open Field Entrepreneurs Fund

$50K Conv. Notew/ $50K Match

Two Classes Per YearJonathan Kaplan, Tepper 1990

21 Portfolio Companies

36

The View from Tech TransferWhat are we doing?

• Standard Deal• Outreach/Office Hours• Gap Funds

37FY 1997 FY 1998 FY 1999 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 20120

2

4

6

8

10

12

14

16

18

20 All Start-ups

DirectIndirect

CMU #1 in start-ups per research $$s spent (amongst universities without a medical school)

The View from Tech TransferHow are we doing?

38

The View from Tech TransferHow are we doing?

In the Region

www.cmu.edu/cie

A Research and Entrepreneurship ShowcaseCells, Circuits and Cities