connecting gap funding to institutional impact
TRANSCRIPT
Connecting University Gap Funding to Institutional Impact
IMPACTING THE RESEARCH ENVIRONMENT
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RESEARCH INSTITUTION
GOALS
RESEARCH
EDUCATION
SOCIETAL BENEFIT
GENERATING TECH COMMERCIALIZATION IMPACT
Core Focus Areas
OutcomesTactics
Operational tactics must be aligned with and motivate the development of multiple core focus areas
Success in developing these core areas will result in outcomes with real impact to the research environment
TECH COMMERCIALIZATION TACTICS DRIVE CORE INSTITUTIONAL GOALS
COMMERCIALIZATION OUTCOMES
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Mind the Gap 2011 Prepared for
77
Impact The final section in this analysis will suggest a structure for measuring gap funding impact, both financial and programmatic. These measures align gap funding practices with the mission of the research university, and other public and private sources of early stage capital, while demonstrating how the practice supports innovation and commercialization on a larger scale.
These suggested impact measures for gap funding can be separated into four groupings:
• Process Indicators • Building a Community of Innovation • Business Formation and Job Creation • Returns to the Funding Organization and Capital Attraction
A major insight is that a majority of the suggested impacts do not involve direct financial return to the university, but instead focus on impacting the innovation landscape itself. In fact, most of their immediate and near term returns are focused solely on catalyzing commercialization through innovation community-building, business formation and job creation, and attraction of capital and commercialization partners. Figure 28 generalized the reported impacts from a subsection of funds with their vintage year as a way to visualize when these impacts are realized.
Immediate Nearterm Midterm Longterm
Creating Culture of Innovation
Process Indicators
Building a Community of Innovation
Capital Attraction
Driving New Businesses and Job Creation
Returning Capital to the Gap Fund
BENEFIT
Managing and Forecasting
Incentivizing Other Investment
Business Formation and Job Creation
Returns (Repayment, Royalties)
Returns (Equity Sale)
1-3 Years 3-5 Years 5 +Years
Time from Intial Investment (Based on Vintage Year of Funds)
General Expectation Timeline for Impact
Figure 29. General Expectation Timeline for Impact
Process Optimization
TECH COMMERCIALIZATON PROGRAM OUTCOMESSuccessful outcomes support institutional mission and goals
GENERATING TECH COMMERCIZATION IMPACT
OutcomesCore Focus Areas
Tactics
CORE FOCUS AREAS
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Improve Tech Commercialization
Process
TECH COMMERCIALIZATON PROGRAM FOCUS AREAS
Engage with External
Innovation Partners
Strengthen Internal Campus Capabilities and
Support
Alumni/FoftheUHigh-tech CompaniesInvestorsNFPPublic/Government Agencies
Campus GroupsFacultyLeadershipStudents
Evaluation/DiligenceIP ProtectionLicensingManagementSupport ProgramsStart-up DevelopmentTalentTools/Facilities
Tactics would ideally positively impact/improve all three core areas
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GENERATING TECH COMMERCIALIZATION IMPACT
OutcomesCore
Focus Areas
Tactics
TacticalTarget
TACTICS
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Process
ExternalInternal
RESEARCH INSTITUTION
GOALS
RESEARCH
EDUCATION
SOCIETAL BENEFIT
Mind the Gap 2011 Prepared for
77
Impact The final section in this analysis will suggest a structure for measuring gap funding impact, both financial and programmatic. These measures align gap funding practices with the mission of the research university, and other public and private sources of early stage capital, while demonstrating how the practice supports innovation and commercialization on a larger scale.
These suggested impact measures for gap funding can be separated into four groupings:
• Process Indicators • Building a Community of Innovation • Business Formation and Job Creation • Returns to the Funding Organization and Capital Attraction
A major insight is that a majority of the suggested impacts do not involve direct financial return to the university, but instead focus on impacting the innovation landscape itself. In fact, most of their immediate and near term returns are focused solely on catalyzing commercialization through innovation community-building, business formation and job creation, and attraction of capital and commercialization partners. Figure 28 generalized the reported impacts from a subsection of funds with their vintage year as a way to visualize when these impacts are realized.
Immediate Nearterm Midterm Longterm
Creating Culture of Innovation
Process Indicators
Building a Community of Innovation
Capital Attraction
Driving New Businesses and Job Creation
Returning Capital to the Gap Fund
BENEFIT
Managing and Forecasting
Incentivizing Other Investment
Business Formation and Job Creation
Returns (Repayment, Royalties)
Returns (Equity Sale)
1-3 Years 3-5 Years 5 +Years
Time from Intial Investment (Based on Vintage Year of Funds)
General Expectation Timeline for Impact
Figure 29. General Expectation Timeline for Impact
TECH COMMERCIALIZATION OUTCOMES
TECH COMMERCIALIZATION
FOCUS AREAS
TECH COMMERCIALIZATION TACTICS DRIVE CORE INSTITUTIONAL GOALS
KEY TACTICS
GAP FUNDING
A well-resourced and managed gap funding program has more ability to positively impact the tech commercialization capability in the research environment than any other single institutional tactic
DISCUSSION THRUST
Increase awareness of the capital gap for early-stage, university/lab technology and advocate for solutions, including gap funding
Expand knowledge and create access to best-practices for current/aspiring gap fund managers and stakeholders
Connect university/lab proof of concept technologies and start-ups to sources of early-stage capital (venture, angel, crowdfunding), talent, and other peer support
inform.
advocate.
connect.
Objectives
the resource for those
interested in university-affiliated
translational research, proof of concept,
and pre/seed gap funds
Research Universities Laboratories and Hospitals
Early-stage Investors High-tech Companies Government Agencies
www.gapfunding.org!
an awareness firm that works with research universities and their key innovation partners (high-tech companies, early stage investors, and government agencies) to "
| inform | advocate | connect
Early Stage Investors!
High-tech Companies!
Government Agencies!
Research Universities!
Conversation-building initiatives!www.gapfunding.org!
Contact me directly anytime:
Jacob JohnsonFounder, innovosource
P: 612.280.2462 E: [email protected]
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