nick england – 3rdtech, inc. working with unc-ch theory & practice 3rdtech overview ...
TRANSCRIPT
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Nick England – 3rdTech, Inc.
Working with UNC-CH Theory & Practice
3rdTech Overview Experience - Our First Companies
DeltaSphere, Inc. HiBall Tracker, Inc. NanoManipulator, Inc.
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Tech Transfer - A Start-Up’s View
Intellectual Property – What do we want? Theory Practice
Technology Licensing – How do we get it? Theory Practice
Relationship – What do we do with it? Increasing Value Working Together
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Intellectual Property - Theory
Patent encapsulates completed research - filed before disclosure - with broad coverage - covers exclusive solution to problem - covers “University Technology” (designs,
software, prototypes, expertise, know-how, etc.) - i.e., the patent trumps any disclosures
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Intellectual Property – Practice
Techniques disclosed formally & informally Solves part of problem One of many ways to solve problem Enhancements, modifications, alternatives Ongoing work in progress - many contributors Nominal value in Patent, but IP does exist IP = Agglomeration (designs, software, prototypes,
expertise, folklore, , know-how, know-how-not, etc.)
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Technology Licensing - Theory
Standard Patent License Exclusive in a particular field Milestones & Guaranteed min. royalties
Deep pockets Pay large license fee Sponsor research
Quickly Develop & Sell Products Send fat royalty checks to university
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Technology Licensing - Practice
Negotiate New Form of License Covers Collection of “University Technology” Exclusive license to published techniques? Milestones & guarantees without patents?
Empty pockets License fee = equity Talk to Investors
Try to explain why non-exclusive - Give up and re-negotiate exclusive Try to explain why no patents - Give up and try to find something to patent
Start working and Pay UNC with good PR
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Increasing the Value
Gather up the IP Software, hardware designs, algorithms, know-how Bits-and-pieces Working prototype – maybe
Make the most direct (i.e. cheapest) step to a product Look for VC and angels – clean out savings Market the product
Capitalize on built-up interest Capitalize on leading-edge capability
Look for VC and angels – mortgage house Manufacture and Sell Look for VC and angels – max out credit cards Pay UNC-CH with good PR (and some royalties)
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Working Together
Innovation - Continuing exchange of technology Sharing continuing development – bug fixes, enhancements License back to UNC-CH for internal use Faculty/Staff on leave or summer at 3rdTech
Who owns IP invented while crossing Franklin street? Benefit the research Provide Cheap Products to UNC-CH
Protect the investment – researchers love to share Protect UNC-CH’s reputation - conflict-of-interest demon
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3rdTech’s Model
Make things happen Identify Opportunities Work Together Provide the Missing Ingredients
Prove that the technology is valuable
Develop Products & Prototypes Recruit Customers and Partners
Spin Out Successful Companies
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UNC-CH Environment
Assets Talented researchers
Leading groups in computer graphics, VR, Medical Imaging, Materials Science, others
Top-notch graduate students with fresh ideas
Federal research funding DARPA, NIH, NSF One goal of funding - to
disseminate technology
Challenges Lack of Start-up Culture
It’s not Palo Alto Limited Experience Lack of Internal Interaction
Institutional Limits Graduates often leave for start-
ups in CA, MA.
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Mission – Act as a Catalyst
Create Companies Experienced management team Seed Funding Technology business evaluation License negotiation Incorporation Product development Market development Management recruitment Industry connections VC connections
Not an incubator – a Foundry – we manufacture companies
Act as a channel for commercialization – take first steps
Identifying inventors/technologies
What businesses are fundable Focus on products, not research
Develop ongoing relationship with the university
Licensing template Highlight mutual benefits
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Structure – Jump-start Companies
First - Create new companies Equity – UNC-CH, Inventors, 3rdTech UNC license plus newly developed IP
Interim operations - 3rdTech Product development Market development Sales & Manufacturing
Interim Funding – 3rdTech plus sales Next Step – Spin Out
Recruit management Raise funding
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Strategy – Convert Research to Products
Lots of work by (many different) smart people over many years
Works in the lab (maybe) But…..not meant to be a product
Impossible to duplicate Impossible for anyone else to use Untested in applications Undocumented
“How did this ever work?
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DeltaSphere-3000 3D Scene Digitizer
University Research Project
Integrated hardware and advanced 3D software
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DeltaSphere, Inc. - Products for Capturing Real World 3D Data
Models for films, video games, web sites
Crime and accident scene capture and reconstruction
Measurement for Construction, Ships, Aircraft, Renovation, Repair
Models for military training and simulation
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DeltaSphere Inc.
Genesis – Lars Nyland UNC-CH Computer Science Current Product Status
1st Generation Hardware and Software Complete Interface developed for 3rd party software packages
Marketing Status Computer Graphics & Applications top 10 new hardware
product for 2000 Active reseller in Japan Excellent data sets/examples available 11 sales (US, Japan, Korea, Canada) Trade shows, magazines, demos
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Vision for Future
Hardware/Software for every:
Oil rig, chemical plant, ship under construction
FBI office, Major crime lab Animation/Film studio Developer of
training/simulation content Video game developer
Lower price further (equivalent to a high performance digital camera), one for every
Web developer Building contractor Television studio Advertising agency Police car Industrial plant Surveyor’s office
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HiBall 6DOF Motion Tracker
Measures position and orientation
Fast & Accurate Virtual Reality Augmented Reality Simulation and
Training Industrial Tracking Wide Area
Measurement
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HiBall Tracker Inc. Genesis – UNC-CH CS team
10 years of R&D
Current Product Status Redesigned components
Installation Reliability Manufacturability
Redesigned software Reliability Maintainability Features Performance
Marketing Status Computer Graphics World – Top
10 Product for 2000 Trade Shows 21 Systems in US and Japan –
Boeing, NASA, GM Defense, Hughes, Universities
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Vision for Future
Next Step Less Infrastructure Cheaper, Lighter, More
Sensors, Wireless Industrial Design Industrial & Military
Training Systems
Follow On Cheap Self-tracking – sensor
only Entertainment – LBE, Home Military Training &
Simulation Industrial Simulation &
Training Tracked Production Tools &
Equipment
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NanoManipulator System Components
Atomic Force Microscope Force Feedback 3-D Graphics Interactive Software Automatic Lab Notebook
“It was really a remarkable feeling for a chemist to be running his hand
over atoms on a surface,” Stan Williams, UCLA Chemistry
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NanoManipulator Inc.
“Picks and shovels for the Nanotechnology Industry”
Genesis – UNC-CH CS, Physics, Materials Science
7 Customers in US, Japan, Canada
Won R&D 100 Product Award Next steps
More microscope vendors
First applications NASA – wiring instruments
with carbon nanotubes Wake Forest – research in
drug discovery Marshall University –
development of molecular templates for circuit design
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Vision for Future
Expansion Throughout the Lab
SEM, TEM, new instruments Integrated Lab Data
Management Integrated Visualization Tool
Explosion - Application Systems - From Lab to Production
Drug discovery pipelines Polymer characterization Nanomachine testing and QC Nanoprocess testing and QC Goal - KLA Instruments of
Nanotechnology
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3rdTech Goals
New Companies & New Jobs in NC New Investment in NC New Businesses near UNC-CH A Culture of Entrepreneurship based on University-
developed technology Opportunities for Investors