1 creating entrepreneurial opportunities by educating for technology commercialization at johns...

1

Creating Entrepreneurial Opportunitiesby Educating forTechnology Commercializationat Johns Hopkins University

FEDERAL LABORATORY CONSORTIUMMID-ATLANTIC REGIONAL MEETING

September 13-15, 2005Cumberland, Maryland

Lawrence Aronhime

Benjamin Gibbs

2

The Johns Hopkins University

Founded in 1876 in Baltimore, MD The first research university in the U.S. Homewood campus

Whiting School of Engineering Krieger School of Arts and Sciences 4000 undergrads and 1400 grads

Other schools include Bloomberg School of Public Health School of Medicine Applied Physics Laboratory

3

The W.P. Carey Program in Entrepreneurship and Management Established in 1996 Part of the Center for Leadership Education within

the Whiting School of Engineering No major in business is offered, only a minor

22+ courses every semester 900+ undergraduate students every semester About 35% of students from Engineering

The W.P. Carey Program In Entrepreneurship and ManagementThe Johns Hopkins University

4

Teaching Entrepreneurship

According to James Fiet of the University of Louisville, we need to get beyond entrepreneurial profiles, anecdotal recommendations, rules of thumb, and “war stories” According to Robert Hisrich of Case Western, “no

unique combination of traits, experiences, and acquired skills differentiates a successful entrepreneur from an unsuccessful one, or even from a manager.”

Again, according to Fiet, the discovery process is at the heart of what we mean by entrepreneurship Entrepreneurship is about discovering a valuable

economic opportunity and exploiting it


5

Entrepreneurial Competence

“Entrepreneurs develop a special competence in interpreting information that signals the existence of opportunities to create new wealth” “Signals consist of new information that has the

capacity to change our understanding of the future” “Entrepreneurial competence consists of knowledge

that cannot be easily transmitted to another agent because it is often tacit knowledge which has been acquired in response to learning by doing” Thus, “entrepreneurial competence can be improved” And it can be taught


6

Teaching Entrepreneurship

The key is learning by doing Opportunities to learn by doing at Hopkins

Tech commercialization projects Business opportunity program Practicum in entrepreneurship Student campus enterprises


7

Growing a Tech Commercialization Program Began in the management accounting class

First projects came from undergraduate design teams in biomedical engineering

And expanded from there to Mechanical engineering design teams The Whiting School of Engineering The schools of Medicine and Public Health The Applied Physics Laboratory The federal lab at Indian Head


8

Working with Tech Transfer Offices Johns Hopkins University

Office of Licensing and Technology Development

Engineering, Arts and Sciences, Medicine BSPH Research Administration

Public Health Office of Technology Transfer

Applied Physics Laboratory Naval Surface Warfare Center, Indian Head

Division Technology Transfer Office


9

Student Projects Stage 1 Assessment

Description of technology and its advantages over prior art Strength of the intellectual property claims Possible applications and fields of use Market size and demand Competitors Opinions of experts Export controls

Stage 2 Assessment Detailed description of the value proposition Potential licensees Path to commercialization Valuation Spec sheet


10

Spring 2005 Projects

Project Sponsor PatentThin film vanadium dioxide spatial light modulators and methods

JHU Applied Physics Lab Issued

Machine health monitoring using signature analysis and lasers

JHU Applied Physics Lab Pending

Compressed gas vehicle fuel storage system

JHU Applied Physics Lab Issued

MEMS multi-directional shock sensor Indian Head Pending

Method and device for clearing firebreaks and controlling fire

Indian Head Pending

Alternative system that provides cryptographic security, auditing and rapid computer access

Whiting School of Engineering

Pending


11

Sample Fall 2005 Projects

Project Sponsor PatentExplosively driven impactor grenade for potential use in law enforcement

Indian Head Issued

Method for depositing cadmium plating for corrosion protection of steel workpieces

Indian Head Pending

Method and system for automated detection of micro-calcification clusters in mammograms


Remote monitoring and relaying for wrist watch alarm


Clip-on type wireless sensor for detecting vapors emanating from explosive type organic compounds



12

The Business Opportunity Option

Students who complete assessments for APL can exercise an option to license the technology establish a new venture complete due diligence work with APL researchers to close any technology

gaps work with APL patent counsel and tech transfer

managers as needed find customers and licensees find investors


13

Practicum in Entrepreneurship

Question: how can we continue to support students who have not graduated, but want to pursue the business opportunity?

Answer: a new course Students apply to enter

Students must submit an initial business plan They form an LLC in the first week of class They establish milestones for prototypes,

customers, and investors


14

Future

New technology commercialization course in Fall 2005

Expand the projects to other departments and federal labs the support network for student teams the involvement of local business leaders the number of students exercising options the number of projects receiving funding

Move student ventures to local incubators after the practicum

Student agency for assessing new technology


15

Successes to Date

Licensing deal and funding for a medical device developed by BME to detect pre-term labor

Commitment to develop a bio-repository at SPH Four students placed with tech commercialization

firms and two in internships Formation of two student-owned ventures

One group exercised its option for an APL technology One group licensed a technology from the Navy


16

Baltimore Shipping Technologies

Formed on February 17, 2005 by students from Prof. Aronhime’s Managerial Accounting class

We were the first students to participate in the Practicum in Entrepreneurship

Established to license the Joint Modular Intermodal Container technology from NSWC Indian Head


17

Our Goals

License the technology from Indian Head

Adapt the military design to suit commercial needs based on our market research

Identify and partner with companies capable of assisting the commercialization process

Launch the commercial JMIC


18

Support

Professor Lawrence Aronhime, JHU Lani Hummel, Director of Industrial Initiatives, JHU Technology Development Corporation of Maryland

(TEDCO) Maryland Technology Extension Services (MTES) Maryland Department of Business and Economic

Development (DBED) Emerging Technologies Centers (ETC) Dr. J. Scott Deiter, Head of Technology Transfer,

Naval Surface Warfare Center, Indian Head Division


19

Progress to Date

Officially licensed the commercial rights to specific fields of use for the JMIC from the Navy

Established a CRADA with IHDIV to further develop the JMIC for commercial markets

Secured $75,000 in development financing from the TEDCO Maryland Technology Transfer Fund (MTTF)

Identified a potential manufacturing partner Working with Maryland DBED to identify potential

first users/customers of the commercial JMIC


20

Future Development

Complete the design of the commercial JMIC and produce prototypes

Test the prototypes at several specific laboratories that specialize in logistics packaging UPS lab in Chicago Sardo Lab at Virginia Tech

Partner with beta customers Commercially launch the JMIC by February

2007


1 creating entrepreneurial opportunities by educating for technology commercialization at johns...

Documents