technology commercialization through spin-off companies karel klusacek technology centre as cr...
DESCRIPTION
Technology Value Build Trajectory UNIVERSITY ROLE years % of final value START IPO Family, Friends and Fools Business Angels Seed Funds / Early VC Late VC Public Shareholders COMPANY FOUNDED Internal Incubator Own premises VALUE ADDED BY INCUBATOR Remaining risk „Points of change“ Option for exit by: SELL (or LICENSE) or continue BUILD Source: ETeCH AG, Switzerland ENTRANCE TO INCUBATORTRANSCRIPT
Technology Commercialization Through Spin-off Companies
Karel KlusacekTechnology Centre AS CR
Technology exploitation
• Technology exploitation - how to convert a knowledge to money (while research converts money to a knowledge) • Technology transfer – university traditionally license
their technology to established companies• Technology commercialization – formation a new
company (by a university) around a new technology – spin-off companies
Technology Value Build Trajectory
UNIVERSITY ROLE
0 1 2 3 4 6 7 85 years
20
40
60
80
100
% o
f fin
al v
alue
START
IPO
Family, Friends and Fools
Business Angels
Seed Funds / Early VC
Late VC
Public Shareholders
COMPANY FOUNDED
Internal Incubator Own premises
VALUE ADDED BY INCUBATOR
Remaining risk
„Points of change“
Option for exit by: SELL (or LICENSE)
or
continue
BUILD
Source: ETeCH AG, Switzerland
ENTRANCE TO INCUBATOR
Income generated by technology exploitation
Academic year 2000/2001
M.I.T. Stanford University
University of Cambridge
University of Oxford
Royalty income € 26.6 m € 50 m € 2.4 m € 4.2 m
Equity income€ 55.6 m € 2.12 m Not
publishedNot
published
% of research budget arising from technology exploitation
9.7 9.1 1 1.8
Investment into spin-offs – an example from Cambridge
0
500
1000
1500
2000
2500
3000
3500
4000
GB
P th
ousa
nds
External investorsUniversity
2000 2001 2002 2003