Tech Square: A Decade of Innovation Stephen Fleming Vice President <fleming@gatech.edu>! @stephenfleming!! 2014, Georgia Institute of Technology 7/24/2014 Download this file at <http://files.academicvc.com>
Stephen Fleming 19+ years venture capital investment experience. General Partner, Alliance Technology Ventures (affiliated with Georgia Research Alliance). 18 investments as lead investor, 11 profitable exits incl. 4 IPOs, $650M acquisition BS, Physics, Georgia Tech (Highest Honors). 15 years operational experience at AT&T Bell Labs, Nortel, LICOM (venture-backed startup). Supervised startups developing first ADSL modem and one of the first cablemodems in early 1990s. Multiple advisory boards at Georgia Tech; endowed chair in telecomm; occasional instructor in undergrad & MBA entrepreneurship programs. Joined Georgia Tech staff in 2005; now Vice President, EI2 Atlanta native; regional technology leader. 7/24/2014 Creating an Innovation District 2
3 Innovation Innovation is our middle name... What do we mean by innovation?
4 What is Innovation?
5 A New Innovation District 2001
6 Connecting Campus to City Tech! Square Main Campus
Major GT Commitment Buy the land! Relocate the College of Business. Relocate and expand Professional Education. Relocate and expand research laboratories. Relocate and expand ATDC incubator. Build a hotel. Host campus activities there. Be a landlord for retail & restaurants. Encourage adjacent commercial development. Become a tenant in their buildings, too. Expand pedestrian, bike, transit connectivity, plus added parking. 7/24/2014 Creating an Innovation District 7
8 September 2001
9 A New Innovation District
10 Crossing the Chasm
11 Bridge over I-75/85
12 Walkable Urban Environment
13 Mixed-Use Retail & Food
14 Physical Proximity
15 Physical Proximity
16 Physical Proximity Department of Economic Development
17 Physical Proximity Department of Economic Development
18 Physical Proximity Department of Economic Development
19 We re Not the Valley
20 Lessons from the Valley
What Works? Free markets Availability of capital Intellectual property protection Collaborative culture & social networks Flexible career paths Welcoming to outsiders & immigrants Meritocratic advancement Acceptance of failure as learning experience Continuous replenishment Of bright young people Of interesting new technologies 7/24/2014 Creating an Innovation District 21
GT Innovation Ecosystem On Campus... In the Community......and Beyond!
VentureLab Educate Curate Create Turning Georgia Tech s most promising research into dynamic startup companies. 7/24/2014 Creating an Innovation District 23
3/31/2014 Download The Role this of the file University at <http://files.academicvc.com> in an Innovation Ecosystem 24 VentureLab Ranking 1 Rice Alliance for Technology and Entrepreneurship Rice University United States 2 VentureLab Georgia Tech United States 3 UB Technology Incubator State University of New York, Buffalo United States 4 NDRC LaunchPad Trinity College Dublin Ireland 5 SETsquared Universities of Bath... United Kingdom 6 Innovation Centre University of the Sunshine Coast Australia 7 Tech 20/20 University of Tennessee United States 8 ATP Innovations University of Sydney Australia 9 STING KTH Royal Institute of Technology Sweden 10 NCTU Innovation Incubation Center National Chiao Tung University Taiwan & #1 Engineering/Science Incubator #1 Early Stage Incubator 2014, Georgia Institute of Technology
GT Innovation Ecosystem On Campus... In the Community......and Beyond!
ATDC Member Companies Helping Georgia entrepreneurs build and launch great technology companies. Currently over 400 member companies ~400 from the larger innovation ecosystem ~40 GT spinouts 7/24/2014 4/11/2013 2/7/2013 Georgia The University s Tech: Creating Hub Role of an Atlanta s Innovation in Innovation District Ecosystem
27 ATDC April 2013 In Depth: 12 Business Incubators That Are Changing the World
GT Innovation Ecosystem On Campus... In the Community......and Beyond!
29 NSF I-Corps
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 was one of first two universities chosen by NSF to scale I-Corps nationwide 7/24/2014 Creating an Innovation District 30
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 7/24/2014 Creating an Innovation District 31
32 Neighbors at Tech Square When we locate a Foundry facility, our number one criterion is to be part of an ecosystem that fosters innovation, which usually occurs at the intersection of premier education, high technology, and an entrepreneurial mindset. Panasonic Automotive! Systems Co. of America 40+ employees Product planning Strategy R&D Design engineering Product testing! Creative class wanted to be in Midtown, not the suburbs They came for the talent, and stayed for the innovation environment
33 Coming Soon
34 Lessons Learned Public/private partnership. Long-term planning and commitment. Balancing multiple constituencies. Build on core competencies. Make friends with the neighbors. Be a good neighbor. Never stop experimenting!
For Further Information Stephen Fleming Vice President, Enterprise Innovation Institute Georgia Institute of Technology http://innovate.gatech.edu! Personal blog: http://www.academicvc.com!! Email: fleming@gatech.edu Twitter: @stephenfleming! Download this file at http://files.academicvc.com!! 7/24/2014 Creating an Innovation District 35
For Further Information Stephen Fleming Vice President, Enterprise Innovation Institute Georgia Institute of Technology http://innovate.gatech.edu! Personal blog: http://www.academicvc.com!! Email: fleming@gatech.edu Twitter: @stephenfleming! Download this file at http://files.academicvc.com!! CC BY-NC-SA 3.0 7/24/2014 Creating an Innovation District 36