Research Institution Translational Research, Proof of Concept, and Startup Gap Funding and Accelerator Programs COA Overview

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Anastasia Murphy
5 years ago
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1 Research Institution Translational Research, Proof of Concept, and Startup Gap Funding and Accelerator Programs COA Overview

A Community of Action for University Gap Funding Universities have spent the past decade developing a solution to the innovation capital and support gap

community of current and aspiring university gap funding programs and supporters.

2 A Community of Action for University Gap Funding Universities have spent the past decade developing a solution to the innovation capital and support gap through the creation and evolution of university gap funding programs We believe that the time is right to continue this momentum and launch the first community of current and aspiring university gap funding programs and supporters. This community brings together the best organizations and professionals involved with translational research, proof of concept, and startup gap funding programs and accelerators to create a centralized force to inform, to advocate, and to connect.

A Decade of Dedication to University Gap Funding

innovosource has directly supported the planning

translational research, proof of concept, and

Mind the Gap Report First-of-its-kind report on

more than 50 funds Introduced Fund Manager

program models and approaches to forming funds,

Mind the Gap Report Report expanded as a program

advancements, tactics, and impact, including more

share tactics and successes, now more than 4,000

Roundtable Held first physical event to support

attended by 40 universities Presented Mind the Gap

3 A Decade of Dedication to University Gap Funding Programs Through the Mind the Gap initiative, innovosource has directly supported the planning and development of over 300 university-affiliated translational research, proof of concept, and startup gap funding programs since 2005 Released Mind the Gap Report First-of-its-kind report on the emergence of university gap funding, including more than 50 funds Introduced Fund Manager Workshops Six web events to showcase POC/startup program models and approaches to forming funds, managing programs, and measuring impact Updated Mind the Gap Report Report expanded as a program development guide that captured a decade of advancements, tactics, and impact, including more than 80 funds Launched UniversityGapFunding.com Resource site to advocate for programs and share tactics and successes, now more than 4,000 unique stories and reports Hosted Fund Manager Roundtable Held first physical event to support fund managers in the evolution of their programs, attended by 40 universities Presented Mind the Gap Web Summit Year of web workshops for current and aspiring managers to discuss tactics, challenges, and emerging topics

4 The Future: A Community of Universities Committed to Action Announcing the launch of the Mind the Gap Community of Action The first, global community of practice for current and aspiring university translational research, proof of concept, and startup gap fund programs inform Create and expand access to insights, tactics, and benchmarking to support program improvement and stakeholder development advocate Increase public/private awareness of the capital and support gap for university innovation and build consensus around gap funding as a solution. Support partner associations in their larger policy and practice efforts connect Connect university translational research, proof of concept projects, and startups to sources of capital, talent, and commercialization partnership

5 Benefiting Current and Aspiring Gap Funding Programs Summary of Benefits A dedicated community to legitimize and grow the gap funding practice and network with peer institutions $3,500 in immediate value from access to archived reports/events Up-to-date program development tools and reporting Program development through topical webworkshops and fund managers discussions Advocacy for increased public/private awareness to build and sustain programs Connections to new sources of investment, commercialization and program support through reporting, web showcases and regional/ national meetings No registration fees to events inform advocate connect Benefit Details (Accomplishments in First Six Months) Best Practice Discussions/ Reports Common Challenge Forum ToolKit Reporting/ Benchmarking Tool (2018) Community Press Release (2018) Submit/Share News Activity Reports (2018) Co-Invest Reports (2018) COvergence Events Pardon the Disruption Web-based and in person discussions between members to address challenges, share tactics, and network focused on Best Practice Focus Areas (next slide). Pre-event survey and event notes are combined into a report/presentation that can be used by members in program development. Annual MTG benchmarking report (5 web-discussion on best practices/reports, 2 in-person workshops (Chicago, Phoenix), Mind the Gap Report Update April 2018!) Member Forum to query to address challenges or float concepts to the community (Listserve up and running for day-to-day communication, program linking dashboard live) Growing, online repository of topical presentations and program documents. Full access to past innovosource reports, presentations, and event recordings. Ability for community review, comment, and co-development (Member only-site live, 8 Best Practice Reports (500 pgs), 18 web-workshops (27 hrs), program document repository from member institutions, and more content to support development---available now) Online reporting tool for fund managers to compare program with aggregate data from comparable programs to assist in operational planning and reporting Monthly press release sent to key business, financial, higher education outlets to showcase and assist in gap funding community efforts Use our communication team as your own and communicate your news instantly to over 10,000 university, investor, and industry contacts through our website, newsletters, and social media (, daily social media broadcasts, 52 weekly newsletters, 1,100 stories added to site in 2017) Quarterly summary of fund activity across community institutions to legitimize gap funding and provide backing to communications to university stakeholders Quarterly showcase reports to innovosource investor and corporate networks for commercialization, investment, and co-development partnerships Periodic Events to gather and catalyze relationship between gap fund programs, investors, and industry partners (Chicago Event Info, Minneapolis No event registration fees for COA members) Our complementary initiative to matching identified industry needs with university partners. Industry participants have co-investment funds to support POC projects and startups (Medtronic, 6 POC projects funded)

6 Best Practice Focus Areas 1 Best Practice Focus Defining Gap Funding Approaches Raising and Sustaining Gap Funding Programs (R&S) Communicating the Value, Need, and Expectations of Gap Funding Programs Coordinating Gap Funding Programs with Campus Units and Priorities Attracting and Collaborating with Commercial and Investment Partners Implementing Policies and Incentives (P&I) that Support Gap Fund Programs Managing Inventor Involvement in the Gap Funding Process Evaluating Technologies and Startups for Gap Funding Programs Structuring the Financing and Ownership of Gap Funded Technologies and Startups Cultivating Gap Fund Support Programs Assessing and Reporting Impact and Performance Metrics Topics of Interest Models/Structures of COA member programs, evolution from oneàmultiple fund programs Adopting common community language/definitions for fund types (Translational Research, Proof of Concept, Startup/Seed, etc.) Identifying nuances in approaches, needs and challenges (size/type of institution, location, tech area specific, etc.) Tactics to R&S funds from institutional support and coordination (royalties, equity, donor/alumni funds) Tactics to R&S funds from external support (government programs, foundations, co-investment with corporations/investors) Approaches to keep sources of funding engaged throughout the gap funding process General awareness of the innovation process/timeline, the role of university, and the need/positioning of gap funding programs Increasing public/political interest/engagement in high-tech innovation relative to other priorities Managing the expectation of process/program outcomes with internal/external stakeholders Coordination/collaborating with other offices on campus (Research, Development/Foundations, Alumni, Colleges/RCs, etc.) Aligning gap fund program/multiple campus funds with the tech commercialization process Leveraging the COA resources/activities to support buy-in and engagement across the institution Methods to grow network of commercial and investment partners Co-development/feedback/investment approaches with corporations/startups/investors Asset/Startup positioning and communication to generate interest Understanding institutional P&Is for inventors, Conflict of Interest (COI), ownership, tenure, etc. Understanding P&Is to attract/structure outside partnerships/investment like research/tax incentives, collaboration agreements, COI, etc. Expanding on and adopting creative P&I approaches that are demonstrating success Communicating the program to generate quality interest and submissions Leveraging the gap fund program process to educate, develop relationship, and improve the current asset/future submissions Approaches and tactics to set expectations of involvement, ownership, and compensation in the developing asset/startup Methods to evaluate opportunities for funding (scorecards, rating, outsourcing/insourcing, professional feedback/expertise), etc.) Forming and sustaining advisory groups (in-person, virtual), process structure/management, and setting expectations Setting project targets and delivering feedback on successful/declined projects Form of funding (grant/investment) and funding disbursement approach (milestone, tranche, staged, etc.) Approaches to equity/royalty dispersion Tactics to maintain and manage ownership position through the maturation of the technology/startup Attracting and incorporating talent from on-campus experts/programs and from the outside(eir/mentors/consultants) Use and examples of external support services that have positively impacted in the development of opportunities Partnering with other public/private programs in the innovation ecosystem (accelerators, incubators, etc) Effect of gap funding on the technology commercialization process (process metrics, activity, econ dev, etc.) Ability of gap to attract outside commercial and investment interest (leveraged capital, licenses, community involvement, etc.) Quantifying the need for more attention and resources directed at the capital gap

7 Current Founding Member Institutions/ Member Model 32 POC/Startup Funds 100+ Years Fund Experience $6B Research Base/YR Annual, organization-wide fee Large University >$300M in Annual Research Expenditures Med-Small University <$300M in Annual Research Expenditures Current Fund Managers Established Program(s) that has carried out 1+ Funding Rounds $2,500 $1, New Technologies /YR 110 Startups/Yr Aspiring Fund Managers Program under consideration or development $1,000 $500 Current Members Binghamton University-SUNY Carleton University Marquette University Medical University of South Carolina Michigan Technological University North Carolina State University Puerto Rico S&T Rockefeller University Rutgers University University Hospitals University of Arizona University of Delaware University of Manitoba University of Nevada University of New Mexico University of Pittsburgh University of Utah University of Virginia University of Wisconsin-Madison/WARF Washington State University Wayne State University Worcester Polytechnic Institute

PRESENTED BY MSP UNIVERSITY POC AND STARTUP PROGRAMS INDUSTRY INVESTORS EVENT OVERVIEW

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