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© 2008 Intellectual Ventures, LLC
All rights reserved
Excitement in
Creativity and Inventions
Ashok Misra Chairman-India & Head of Global Alliances
Intellectual Ventures, Bangalore
ashokmisra@intven.com
REACH Symposium
Indian Institute of Technology Kanpur
October 11, 2010
© 2008 Intellectual Ventures, LLC
All rights reserved
Globalization and the
Knowledge Economy
• The advances in technology have led to globalization and increased the power of knowledge
• Advances in productivity are increasingly based on the quality of higher education and research – the resulting specialized knowledge can spread globally faster than capital or people
• When this dissemination occurs, the entire world and mankind stand to gain
• The creation of specialized knowledge is where the Inventors and Innovators come in
© 2008 Intellectual Ventures, LLC
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Role of Institutions of
Higher Learning
• Education
- to develop high quality manpower
• Basic research and development
- to create new knowledge
• Applied research and development
- to use that new knowledge to develop intellectual property,
inventions and advanced technologies
© 2008 Intellectual Ventures, LLC
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“Concern for man and his destiny must always be the chief
interest of all technical efforts. Never forget it in all your
dreams and equations.”
Albert Einstein
“It is relatively easy to put up a factory or a plant or a
project, it is much more difficult and it takes much more
time to train the human beings that will run a factory or put
up another factory or plant.”
Pandit Jawahar Lal Nehru
Institutions of Higher Learning
© 2008 Intellectual Ventures, LLC
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If you want to understand the future,
create itPeter Drucker
IDEAS and INVENTIONS CHANGE
the FUTURE of MANKIND
© 2008 Intellectual Ventures, LLC
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People who changed our lives
© 2008 Intellectual Ventures, LLC
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People who have continued to…
• Robert Noyce – The integrated circuit
• Bill Gates – First ubiquitous OS after the human brain
• James Watson – DNA structure
• Sanjai Kohli – Architect of mass-market GPS
• Craig Venter – Genome sequencing (and more?)
• Robert Langer – Drug delivery
• Steve Jobs – Setting the bar for innovators – “A lot of
times, people don’t know what they want until you show
it to them.”
© 2008 Intellectual Ventures, LLC
All rights reserved
Continuous Innovation Is The Key!
Graph Courtesy NanoHUB/OpenScienceGrid.org
© 2008 Intellectual Ventures, LLC
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The Golden Age of Invention
• Camera
• Movie
• Radio
• Light bulb
• Surgery
• Automobile
• Airplane
• Phone
• Vaccine
• X-ray
• Laser
• Medical devices
• Integrated circuit
• Network connectivity
• Television
© 2008 Intellectual Ventures, LLC
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The Golden Age of Invention
© 2008 Intellectual Ventures, LLC
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The Golden Age of Invention
© 2008 Intellectual Ventures, LLC
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Development of Vaccines
• A vaccine is a biological preparation that
improves immunity to a particular disease.
• Began as "variolation“, i.e. exposing uninfected
individuals to matter from smallpox lesions. Now
more scientific.
• Vaccine technology has wiped out major
diseases, but newer ones are still needed.
© 2008 Intellectual Ventures, LLC
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Digital signal-processing techniques, originally
developed to enhance pictures of the Moon for
the Apollo Program, are an indispensable part of
Computer-Aided Tomography (CAT) scan &
Magnetic Resonance Imaging (MRI) technologies
used today worldwide.
MRI & CT Scan
© 2008 Intellectual Ventures, LLC
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The Earth Needs Inventions
• Addressing the digital divide
• Food and resource management
• Energy generation and distribution
• Healthcare
• Waste management
• Ecological balance
• Counter-terrorism
© 2008 Intellectual Ventures, LLC
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India Needs Inventions -ENERGY
© 2008 Intellectual Ventures, LLC
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India Needs Inventions -WATER
© 2008 Intellectual Ventures, LLC
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Organizations Need Inventions
Companies need invention
– Premium on innovation, better risk management
– Must go outside & focus use of internal resources
R&D organizations need inventions
– Research labs have a funding gap
– Science funding needs commercialization routes
– S&T-driven individuals need more work options
– Improve, customize, R&D, assemble or invest in inventions
© 2008 Intellectual Ventures, LLC
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Innovation vs. Invention
Not easily definable – simply put:
Invention is – a foray into the unknown
Innovation is – putting together the known for novel effect
Most of us innovate – a few of us invent
We innovate on the move – but unless action follows the
process is not complete
© 2008 Intellectual Ventures, LLC
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What makes a good Invention?
An act or instance of creating or producing by exercise of
the imagination a technical innovation
Protectable
Intellectual in Origin
Inevitable Context
Beyond the obvious
Good inventions can come from anywhere
© 2008 Intellectual Ventures, LLC
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Joint Replacement
Developments in new materials and product design are offering
surgeons and patients new options for joint replacement surgery.
© 2008 Intellectual Ventures, LLC
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Water-Jet Cutting Machine
Can cut steel, brass, aluminum and wood
© 2008 Intellectual Ventures, LLC
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Gore-Tex – Special Fabric
© 2008 Intellectual Ventures, LLC
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Patentable Invention
• Idea is Novel
• Non-obvious
• Adequately described or enabled
http://www.uspto.gov/inventors/patents.jsp
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Who is an Inventor?
26
ENTREPRENEUR
STUDENT
EMPLOYEEFACULTY MEMBER
RESEARCHER
INDEPENDENT
CONSULTANT
© 2008 Intellectual Ventures, LLC
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Invention is the Source of Value
• All technologies begins with inventions
• Inventions drive technology markets
• But inventions are sometimes neglected…
• Investment in invention can be systematic, not
just serendipitous
© 2008 Intellectual Ventures, LLC
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Invention Capital
• Partner with inventors
• Invest into inventions
• Provide capital and expertise
• Build large-scale portfolio
• License non-exclusively on global scale
• Share success with inventors
© 2008 Intellectual Ventures, LLC
All rights reserved
29
Head Office
Location Bellevue, Washington
Establishment 2000
Chairman and CEO Nathan Myhrvold
Employees (global) 700+; IDF: 160+
URL www.intven.com
Offices in Asia
Name Intellectual Ventures Asia Pte., Ltd.
Establishment 2007
Employees 110+ (total); In India: 24
Asia Offices Tokyo, Seoul, Beijing, Bangalore & Singapore
Other countries Australia, Canada and Ireland
Intellectual Ventures
Providing Invention Capital
© 2008 Intellectual Ventures, LLC
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- 30 -
Invention Capital – Invest in Ideas
Research Phase Corporate Phase
Go-to-MktProductizationBasic/Applied
ResearchOngoing Research
Death Valley
Investm
ent A
mount
Grants
Joint ResearchAngel
Venture Capital
Corporate Collaboration
Bank Financing
Stock Market
Invention Capital
© 2008 Intellectual Ventures, LLC
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Invention Capital
© 2008 Intellectual Ventures, LLC
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identify problem areas & broadcast
them to a global inventor network
Intellectual Ventures LLC
July 2009
partner with inventors
sources of
invention
we license invention rights to
companies & investors
upfront fees &
profit-sharing
with inventors
individuals universities research institutes companies
investors companiesinvestors companiesIntellectual Ventures LLC
July 2009
Invention Development Fund:
Programmes for Institutions
• Define Technology Needs– Internal Technology Roadmap
– Distribute Request For Invention (RFIs)
• Provide Invention Capital– Bear costs of writing, applying for and filing patents
– Reduce burden on inventor
• Create and Market Portfolio– Maximize value of inventions
– Provide support for entire invention lifecycle
• Share the Success– New source of revenues for inventor & their organizations
– Source of economic growth
34
global alliances – just tap the synergy!
sources of
invention
we license invention rights to
companies & investors
upfront fees &
profit-sharing
with inventors
individuals universities research institutes companies
investors companies
Intellectual Ventures LLC
July 2009
© 2008 Intellectual Ventures, LLC
All rights reserved
Inventing Driving
© 2008 Intellectual Ventures, LLC
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Invention Drive Train
An Engine is not enough
© 2008 Intellectual Ventures, LLC
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US Share of World GDP: 1840
India 16%
USA 2%
Rest of the
World 82%
Intellectual Ventures LLC
July 2009
© 2008 Intellectual Ventures, LLC
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India 6%
USA 21%
Rest of the
World 73%
A GROWTH OF 950% in 150 YEARS – INNOVATION
WAS AND WILL BE THE KEY!
Intellectual Ventures LLC
July 2009
US Share of World GDP: Now
© 2008 Intellectual Ventures, LLC
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India’s IP Trade Deficit
(1995 – 2005)
$3.7 billionpayment of royalties &
license fees
receipt of royalties &
license fees$410 million
$3.3 billion
* 1995 - 2005 data
less ( - )
Intellectual Ventures LLC
July 2009
© 2008 Intellectual Ventures, LLC
All rights reserved
Sources: AUTM U.S. Licensing Surveys (1999-2005) and Nezu, R. (2005), Technology Transfer, Intellectual Property and Effective University-
Industry Partnerships: The experience of China, India, Japan, Philippines, the Republic of Korea, Singapore and Thailand, Fujitsu Research
Institute & WIPO
800
1250
1000
12201300
1400
0.5 1.5 3.4 5.8 6.6 30
0
500
1000
1500
1999 2000 2001 2002 2003 2004
US
$ M
illi
on
sTotal University Licensing
Income
US Asia
© 2008 Intellectual Ventures, LLC
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India has world class
thinkers & researchers
15,000 science & engineering
research papers
volume of published science
& engineering articles
17,000 US patent applications
2% of world share
0.4% of world
share
ranked 15th globally
* 2005 data
Intellectual Ventures LLC
July 2009
© 2008 Intellectual Ventures, LLC
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60% of patents originate from small and individual
inventors, universities, and research labs…
…whereas only 40% of patents come
from large corporations…
…but this group receives less than <1% of
patent licensing revenue…
…but they garner 99% of all patent
licensing revenue*Small Business Administration Report **Multiple sources: 10Ks, Royalty Source, Gartner, … IV compiled
Patent Creation and Revenue
Imbalance
© 2008 Intellectual Ventures, LLC
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1
2
3
4
5
Extraction of natural
resources
Menial labor and heavy industry
Low-value mfg. and assembly
Low-value services
Innovation and high-
value services
The Traditional Path
© 2008 Intellectual Ventures, LLC
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A Technological Shortcut
Credits: Aurora Photos
© 2008 Intellectual Ventures, LLC
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The Golden Age of Invention
© 2008 Intellectual Ventures, LLC
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A Technological shortcut
You don’t have to Think Linearly!
© 2008 Intellectual Ventures, LLC
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With Inventions
You Can Jump
the Queue!
Leapfrog!
© 2008 Intellectual Ventures, LLC
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1
2
3
4
5
Extraction of INTELLECTUAL
resources
Menial labor and
heavy industry
Low-value mfg. and assembly
Low-value services
Innovation and high-
value services
The Shorter Path through
Inventions
© 2008 Intellectual Ventures, LLC
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The Best Time ever for
Inventors
• Fundamental new discoveries in science
• The most efficient communications and collaboration
infrastructure in human history – largely peaceful times
• Inexpensive simulation and prototyping (with few
exceptions)
• Diverse sources of capital and expertise
© 2008 Intellectual Ventures, LLC
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Creating an IPR Environment
• To sustain and grow creative ideas in an ethical
environment and
• Assist in translating these ideas into products, processes
& services
This requires an appreciation for and an awareness of
Intellectual Property-related issues
© 2008 Intellectual Ventures, LLC
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IPR Activities at Research
Institutes & Universities
• IPR policy to be formulated and practiced
• Spread IPR awareness amongst faculty & administrators
• Conduct IPR programmes & workshops
• Formal Courses and workshops on IPR
• Organize “idea” competitions
• Develop system for invention disclosures
• Mechanisms and support for IP protection
• Allocation of funds
• Protection / maintenance of IP
• Develop mechanism for licensing of IP
© 2008 Intellectual Ventures, LLC
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Entrepreneurship
• A logical follow up to IP creation is technology business incubators, innovation centres and research parks
• Venture capitalists would flock around the Institutions in search of projects of commercial value
• Requires a high level of research focus and development of new ideas worthy of commercialization
• Such Institutions would provide opportunities for the growth of new enterprises, employment and contribute to the economy of the nation
• This will attract high quality faculty, researches and students
© 2008 Intellectual Ventures, LLC
All rights reserved55
R & D
Technology Demonstrator
Prototype Development
Deployment
Sales andMarketing
Manufacturing
VC:Wealth
Generation
From Concept to Deployment
TechnologyIncubation
Company Creation
© 2008 Intellectual Ventures, LLC
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INVENT IN
INDIA…
INVENT
FOR THE
WORLD!
© 2008 Intellectual Ventures, LLC
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The Golden Age of Invention is Now
Ignite a Million Minds
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