Spring 2017 Informa1on Mee1ng April 5 th, 2017 Christopher Konop, PhD Director of Marke1ng www.wisolve.org Presented by: Jonathan Lenz, PhD Director of Technology
Welcome to WiSolve! Outline: Challenges facing the STEM workforce Who is WiSolve? Who are our partners and clients? The WiSolve experience Recent WiSolve client engagements Why join/how to apply? Networking recep1on to follow!
Exploring off the academic track
Expanding Career Opportuni1es for UW- Madison Trainees Bench Research Business Savvy
Who is WiSolve Consul1ng Group? Mission: Provide our consultants with a unique, hands- on learning experience in the business of science by working with local tech and biotech companies to solve real- world problems
Who is WiSolve Consul1ng Group? Madison non- profit that works closely with UW UW- Madison STEM postdoctoral and graduate student researchers looking to serve the science and technology industries of Wisconsin Variety of career aspira1ons (industry, academic, entrepreneurial) Grow professionally, gain experience, develop our business acumen, improve our network, and gain new opportuni1es
Who is WiSolve Consul1ng Group? 5 execu0ve board members and 20+ founding members Wen Chyan Finance Nasim Jamali Professional Development Natalie Patzlaff, MA Opera1ons Christopher Konop, PhD Marke1ng Jonathan Lenz, PhD Technology
Advisory Board, Mentors & Supporters David Schlesinger, Ph.D. Marke1ng Manager Cellular Dynamics Interna1onal Idella Yamben, Ph.D. Business Development Consultant Center for Technology Commercializa1on Alexandra Chesney, Ph.D. Study Director Covance Mark Cook, Ph.D. Professor Department of Animal Science University of Wisconsin Madison Eileen Callahan, Ph.D. Director Graduate Student Professional Development Office University of Wisconsin - Madison Andrew Cusick, M.Ed. Officer Career Development Office University of Wisconsin - Madison
The WiSolve Experience 1. Consul0ng (5-10h/wk) Market Analysis Price Sensi1vity Analysis Cost Benefit Analysis Company Acquisi1on Targets Grant Wri1ng (SBIR, STTR) Business Plans Product and Market Opportunity Assessment Patent Search Regulatory Affair Strategies Technology Transfer Marke1ng Strategy 2. Educa0onal workshops (3h/mo) Marke1ng IP (Intellectual Property) Regulatory Affairs VC (Venture Capital) Licensing Professional Rela1onship Development 3. Networking (3h/quarter) BioFoward events ACE events Entrepreneurons CTC events Biotech Conferences
The WiSolve Experience Client Engagements Timeline: ~3-8 week long interac1ve engagement Teams: 3-6 people (1 experienced PM, 2-5 consultants) Project Manager: Communica1on point person, assigns tasks, goals, and deadlines Expert Advisor: Guidance when needed. Helps ensure quality of deliverable Each client engagement will have defined goals and deadlines
The WiSolve Process (3-8 weeks) Client Ve]ng Intake Mee0ng First Mee0ng Client Follow- up Final Deliverable Client Work
Client Engagement Adam Swick (Project Manager) Tony Wu Mark Farrugia Anurag Agrawal
Team Adam Swick Postdoc, Cellular & Molecular Biology Developing new ways to combat head and neck cancer Tony Wu PhD Candidate, Process Systems Engineering Assessing economic prac.cability of new technologies Mark Farrugia Postdoc, Biochemistry & Molecular Biology Therapeu.cs for neurodegenera.ve diseases Anurag Agrawal PhD Candidate, Chemistry New pharmaceu.cals for mul.drug resistant bacteria
Current Engagement What do you do? We are helping a bio- material collec1on company clarify its market posi1on and raise capital for expansion. Deliverables Execu1ve summary 1- min & 5- min investor- facing pitches Refined slide deck Time commitment 4-10 hours/week How oaen do you meet? Team weekly Client biweekly
Skills Learned Problem- solving Goal- driven Prac1ce theories & mind pinalls! Leadership Effec1vely influence the minds of others Time management Be flexible Be alert
Client Impact We provide understanding & con.idence. I helped clients develop goals and strategies iden.fy promising market sectors raise X$ capital from investors increase revenue/profit by Y$ For our current client, we helped aqract mul1ple investors, resul1ng in poten1al funding totaling $1.5m.
WiSolve Target Clientele WEB Ideas Research Park Companies Large Companies STARTUP ESTABLISHED WARF/Entrepreneurs Huge Interna0onal Companies ~200 biotech companies in the Madison Area ~9000 graduate students and 900 postdocs @ UW
Advantages for WiSolve Consultants Connec1on to jobs and internships Workshops Networking opportuni1es other grad students and postdocs industry and startups Exclusive opportuni0es (SBIR Ready)
Completed Workshops Consul0ng 101 - Dan Olszewski, Director, Weinert Center for Entrepreneurship Business Plan Wri0ng - Phil Greenwood, Senior Lecturer, Weinert Center for Entrepreneurship Crea0ng Lean Startups - Idella Yamben, Business Development Consultant, Center for Technology Commercializa1on Introduc0on to SBIR Grant Wri0ng - Todd Strother, Senior Technology Consultant, Center for Technology Commercializa1on SBIR Grant Review - Todd Strother, Senior Technology Consultant, Center for Technology Commercializa1on Project Management for Non- Project Managers - Scoq Converse, Program director, UW- Madison, School of Business Career Insider: Healthcare Consul0ng - Lily Jarret, Execu1ve Consultant at Kaiser Permanente
SBIR Ready Program Albert Chen Munish Chhabra Chloe Kim Breq Napiwocki Ye Xu Tian Yang
Team Albert Chen PhD Candidate Microbiology Munish Chhabra PhD Candidate Biophysics Chloe Kim PhD Candidate Biomedical Engineering Breg Napiwocki PhD Candidate Biomedical Engineering Ye Xu Postdoc Systems Biology Tian Yang PhD Candidate Chemistry
SBIR Ready Program Goals: - Prac1ce building a business case for new technology - Develop a good SBIR proposal Small Business Innova0on Research (SBIR) Program - Fund high- risk, high- impact commercial solu1ons Phase I Feasibility $150k Phase II Prototype $1M Phase III Commercializa1on
SBIR Ready Program Session 1: Significance Session 2: Path to Market Session 3: Resources Demonstrate significant need Compe11ve analysis Define final product Define specific aims & quan1ta1ve milestones Budget Ganq chart (1meline) Team Session 4: Finalize Enhanced Market Research Report + Execu1ve summary
A New An1bio1c Technology: Novel compound for trea1ng drug resistant bacterial infec1ons including MRSA and VRE OTT:1402 Commercializa0on Goal: Be acquired by pharmaceu1cal company before clinical trials - New class of an1bio1cs, no known resistance To prove feasibility: 1.) Validate low suscep1bility to resistance development 2.) Assess effect on 4 commonly targeted cellular processes 3.) Improve physicochemical proper1es
SBIR Ready Program Things we learned or found helpful: Academic vs. SBIR grants - Quan1fiable milestones - Defining feasibility Puyng what we learned into prac1ce - Importance of customer discovery - Instructor Feedback/Tips How research is brought to market - What is worth developing Making a budget
Who are we looking for? Mo1vated and commiqed cri1cal thinkers No business experience necessary
Next Steps: Apply to be a consultant! Applica0on & Resume Let us get to know you! Online applica1on will soon be posted on our website (WiSolve.org) and sent out to all aqendees. Due: April 19, 2017 Next Workshop: Consul1ng 101, date TBA (Week of Apr 24 May 5) Dan Olszewski, Director, Weinert Center for Entrepreneurship