bridget nooneenterprise executive promotion of new venture creation at trinity college dublin
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Bridget Noone Enterprise Executive
Promotion of New Venture Creation at
Trinity College Dublin
How to Capitalise on TCD’S Successful Track Record in
Funding
• Commercialisation of research • Through
•Licensing of Technology•Campus Company•Spin-offs•Research Contracts
• Leading to•Creation and development of successful KBEs based on university research
TRINITY’S SUCCESS IN RESEARCH FUNDING – SFI/PRTLI
SFI2001 – 7 Projects €44.45m2002 9 Projects €12 m2003 18 Projects €18m
PRTLICycle 1 (1999-2000) – TCD gained €49m. As lead partnerCycle 2 (2000-2002) – TCD gained €27.8m as joint partner
(DMMC)Cycle 3 (2001-2006) – TCD gained €58.6m as lead partner
TCD gained €44.8m as joint partnerTotal Award to TCD: 130m. (estimate)
5 Year Entrepreneurship Programme at Trinity College
OBJECTIVES
• Leadership Recognition - creation and development of successful knowledge-based companies from research
• Increase number of high potential enterprises through the coordination of specialist training and processes
• Develop entrepreneurship education and training programmes for knowledge-based enterprise creation and for the wider community
Who benefits
• Researchers
• Trinity College
• Economy
Basis of SME Formation from University lies in Research
Subjects Genetics Physics
History Medicine Computer Science Mathematics Language Learning Nutrition Biochemistry Mech. & Manuf
Eng
TCD Companies Identigen, Optigen Eblana Photonics, Allegro,
Magnetic Solutions, Cellix* Eneclann M3D* Haptica, Havok, Iona Glassbridge Authentik, Integrate Irl. IEFS Opsona* 3 Projects in the pipeline
*In formation
Research and Innovation Services Functions
Help initiate new research programmes in TCD, identifying funding and providing a “corporate” backdrop to individual research groups efforts.
Develop commercialisation of research results Ensure that TCD and the State gain a share of
the benefits Adapt best international practice to Irish
circumstances for appropriate University/Industry/Government interactions.
Role of Enterprise Executive
Promotion of new Venture Formation Development of Series of Seminars
and Workshops for Researchers and Entrepreneurs
MBA Workout – Partnership with Trinity College MBA Programme
Entrepreneurship Development Programme
Participation in EU Programmes Developing National and International
Networks
LAB-TO-MARKET: JOURNEY Basic Research (Science Foundation Ireland)
Discovery & Patenting
Market Need & Applied Research
Team Building & Business Strategy
Detailed Market, Technical & Financial Research
Business Plan
1st Round Funding & Start-up
Follow-on funding round(s)
PA
T’S
TEAM
HPSU
TEAM
TC
D’S
RIS
Office
Our Strengths: Three background Advantages for launching new
ventures
TCD Reward for InventorsLong experience of R&ISSupport of the Institution
General Enterprise Ireland funding for Early stages
IP PolicyAvailability of Venture Capital – 4th
Level Incubators
International Entrepreneurship Networks –ProcessesBenchmarking
Keys to Success
Provision of incubation space at or close to the University
Provision of a Trinity College Seed Capital Fund
Development of support structures Development of Education and Training
Programmes Development of national and
international Networks Partnerships and alliances with other
universities and financial institutions
International Networks
PAXIS & PANEL – 5 Thematic networks (includes PANEL), 22 European Regions of Excellence
Cluster – Consortium linking universities of Science and Technology for Education and Research.
REEE – European Round Table on Entrepreneurship Education for Engineers – founded by Stanford – goal accelerate entrepreneurship education for scientists and engineers.
Academic Networks – Research Collaboration and EU Programmes
Industrial Liaison Network – third level institutions – national and international
2004 PROGRAMME OF 2004 PROGRAMME OF EDUCATION/TRAININGEDUCATION/TRAINING
• New Idea Generation Workshop• From Research to Innovation• Intellectual Property • Writing the Business Plan• Legal Issues• Building the Team• Raising Money• 2-day Series of Marketing Modules (6) • MBA Workout• Clinics for new projects• CEO Workshop• Development of Case Studies for
training
EXAMPLE – MBA WORKOUTEXAMPLE – MBA WORKOUT
• To accelerate the planning and execution of Knowledge-based spin-outs created by campus entrepreneurs
• To provide “coalface” experience of new business formation for MBA Students at TCD
• To experiment with format for hands-on entrepreneurship education
• One formal programme per year
MBA Workout Real-time laboratory for creating new
ventures Ventures are based on new knowledge, ie on intellectual capital
Work of the MBA teams will make a difference to the future of these ventures
Analysis, programme design, execution, delivery, communication, persuasion…
• Selection criteria• Assessors appointed to each project to monitor progress and award grades to MBA team• 3 formal
• Scoping, Planning, Final Presentation• Informal contact between project groups/MBA teams• Final written report – assessed by Director of MBA Programme and Director of Innovation Services
Process of Workout – 2003-2004
Matching MBA Teams to Projects
Identification of Possible projects – Dec 03 Work with projects over a 3 month period Selection of projects, based on criteria – March 04 Nomination of Assessors to Projects Presentation by Project Teams to MBA Class – April 04 MBA Teams formed Presentation by MBA teams bidding for specific
projects NDAs signed and formal process commenced All formal meetings attended by assessors/reps from
Trinity College Enterprise Centre and Business School
Successful Projects
Bundling of Medical/Genetic Patents from three major research groups
Spin-out application from High Performance Computing Group collaboration with Nutrition Research
Patient Specific Prosthesis Analysis Development of diagnostic kit using
silver nanosensor system for detection of heart disease
MBA students gain valuable experience in dealing with start up enterprises
while contributing an analytical business perspective to the evolution of these enterprises.
And contributing to the evolution of College policy in relation to campus enterprise
Benefits
Results 2004Project 1 – Diagnostic Kit using Silver
Nanosensor System Having Analysed the market for the product
and the company’s market strategy, the recommendation was that the company needs a strategic partner and also recommended some strengthening of the team
Project 2 – Patient Specific Prosthesis Analysis Having researched the route to market for this
product/service, the recommendation was that the project should focus on developing technology and should partner with a prosthesis manufacturer to access end user
Results 2004
Project 3 – Spin-out from HPC Group Assisted promoters to clarify their business
opportunity and identify their route to market. They also analysed how to raise awareness while building equity in the brand
Project 4 – Bundling of Medical/Genetic Patents Developed Financial Scenario model for the
project and developed a blueprint for a ebsite to create a web presence
Bridget NooneEnterprise ExecutiveTrinity College Enterprise CentreThe TowerPearse StreetDublin 2
Telephone: 353-1-6775655Email: [email protected]
Contact Details