Georgia Tech Innovation: Research to Commercialization
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1 2012, Georgia Institute of Technology Georgia Tech Innovation: Research to Commercialization Stephen Fleming Vice President
2 2 Innovation Innovation is our middle name... What do we mean by innovation?
3 The Innovation Question The first step in winning the future is encouraging American innovation. President Barack Obama State of the Union, 25 January /27/2012 Georgia Tech Innovation: Research to Commercialization 3
4 The Environment After all, innovation is what America has always been about. President Barack Obama State of the Union, 24 January /27/2012 Georgia Tech Innovation: Research to Commercialization 4
5 5 Innovation...
6 6...and More Innovation!
7 7 What is Innovation?
8 8 Role of the University Three distinct stages of university evolution: Reference: Jan Youtie & Philip Shapira, Building an Innovation Hub: A Case Study of the Transformation of University Roles in Regional Technological and Economic Development, 2006
9 9 Role of the University Knowledge storehouse
10 10 Role of the University Knowledge factory
11 11 Georgia Tech History
12 12 Role of the University Knowledge factory
13 13 Role of the University Knowledge hub
14 GT as a Knowledge Hub Local Communities Faculty Staff National and International Students Industrial Partners Federal Agencies Technology Community Entrepreneurs State Government Angel Investors 11/27/2012 Georgia Tech Innovation: Research to Commercialization Venture Capitalists 14
15 GT Innovation Ecosystem On Campus... In the Community......and Beyond!
16 GT Innovation Ecosystem On Campus... In the Community......and Beyond!
17 VentureLab Educate Curate Create Turning Georgia Tech s most promising research into dynamic startup companies. 11/27/2012 Georgia Tech Innovation: Research to Commercialization 17
18 18 VentureLab Stats 2012 Inventions reviewed annually 250+ New projects annually 25+ Ongoing projects 70+ New spinout companies created annually External investment attracted to VentureLab companies ~$700M
19 GT:IPS Georgia Tech Integrated Program for Startups Streamlined licensing Standardized license vetted by major Atlanta law firms Complete transparency Quick turnaround Formalized facilitation for faculty and students Weekly training courses by GTRC, VentureLab, others GTRC agreements, conflict of interest, intellectual property protection, funding, business organization... 11/27/2012 Georgia Tech Innovation: Research to Commercialization 19
20 GT Innovation Ecosystem On Campus... In the Community......and Beyond!
21 21 ATDC April 2010
22 22 TechCrunch: July local attendees
23 Flashpoint Entrepreneurial education Experienced mentors Presentations by veteran entrepreneurs, investors Shared learning in a flexible dedicated space Competitive, accelerated environment for business model and technology development 11/27/2012 Georgia Tech Innovation: Research to Commercialization 23
24 GT Innovation Ecosystem On Campus... In the Community......and Beyond!
25 NSF I-Corps National Science Foundation Innovation Corps Developing entrepreneurial knowledge in university scientists and engineers Built on Stanford s Lean LaunchPad course Curriculum initially led by Silicon Valley investors and entrepreneurs Georgia Tech is one of two universities chosen by NSF to scale I-Corps nationwide 11/27/2012 Georgia Tech Innovation: Research to Commercialization 25
26 A New Collaborative Model No company has a monopoly on useful knowledge anymore. Useful knowledge is becoming more and more widespread all over the world. Henry Chesbrough 11/27/2012 Georgia Tech Innovation: Research to Commercialization 26
27 Open Innovation Funnel Phase 0: Ideation Phase 1: Concept Development Phase 2: Feasibility Phase 3: Capability Phase 4: Transfer Open Innovation Funnel adapted from Chesbrough, Dupont, IRI, and Medtronic
28 28 Suniva Case Study GT conducted 30 years of NSF-funded research GRA VentureLab at GT created company Incubated in ATDC at Georgia Tech GT assisted with mfg. process improvement Gwinnett Tech training workforce in Norcross Georgia success story!
29 29 Neighbors at Tech Square Panasonic Automotive Systems Co. of America Launched to recruit co-ops and new graduates Now hub for GE SmartGrid Challenge $1.2M student competition 40+ employees Product planning Strategy R&D Design engineering Product testing 3-5x productivity enhancement Creative class wanted to be in Midtown, not the suburbs They came for the talent, and stayed for the innovation environment
30 30 Physical Proximity Department of Economic Development
31 Progress and Service 11/27/2012 Georgia Tech Innovation: Research to Commercialization 31
32 For Further Information Stephen Fleming Vice President, Enterprise Innovation Institute Georgia Institute of Technology (404) Personal blog: Download this file at 11/27/2012 Georgia Tech Innovation: Research to Commercialization 32
33 For Further Information Stephen Fleming Vice President, Enterprise Innovation Institute Georgia Institute of Technology (404) Personal blog: Download this file at 11/27/2012 Georgia Tech Innovation: Research to Commercialization 33
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