ruggero frezza - uni padova - m31 - stanford - feb 14 2011
DESCRIPTION
Presented Feb 14 2011 at Stanford Engineering School.TRANSCRIPT
Università di Padova
Founded in 1222
More than 65.000 students
More than 2.400 researchers
Strong engineering, agricultural,medical and law schools
Budget > 600 Mln Euro
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Tech Transfer Offices in Italy
TT offices have been opened only recently
Only 5 TT offices opened before the year 2000, 58 in the year 2008
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Budget of the top 5 UniversiJes on average ~ 650 Mln Euro
Average on all UniversiJes ~ 210 Mln Euro
Approximately 26% of the funding comes from the government
Another 26% from research contracts
12% comes from the European Union 12% from local regional government
14% from the universiJes own resources
the remaining 10% from different sources, bank foundaJons, etc.
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Yearly budget of Universi<es with TTO
The TT offices declare the following main ac<vi<es:
Support to creaJon and to the development of spinout companies
IP management
Research contracts with companies
Management of conflicts of interest
TTO activities
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Business Plan compeJJons, seminars on business plan wriJng, entrepreneurship
Beneficial condiJons on IP licensing to spinout companies
Lab space, instruments
Company incubators
The University may become a minority shareholder
Support to spinout companies
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How many, where, sectors:
In 2008 the overall number of university spinout companies was higher than 800
The average revenues are about 500 K Euro per year
The creaJon rate was higher than 100/per year since 2006
Spinouts are based mostly in northern and central Italy, but also in some regions of the south like Puglia
The three main sectors are: ICT 33%, Energy cleantech 16%, Life sciences 15%
The spinout scenario
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According to AIFI, the Venture Capital and Business Angel Associa<on in Italy, the total seed investment in Italy is lower than 40 Mln Euro per year
The investments are mostly in companies that are NOT university spinout
Spinout and venture
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Spinout and venture
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Most spinout companies are not fit for investments by venture capitals
Some direct examples of two spinout companies that I personally founded before M31:
eMoJon Srl, first official spinout company of the University of Padova;
VI-‐grade GMBH.
eMo<on Srl
Founded in the year 2000 with an investment of 300 K Euro from a business angel and a private company
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It offers moJon capture systems for clinical applicaJons Based on research on tracking and data associaJon
eMo<on Srl
Sold in 2002 to a public company and merged into BTS Spa www.bts.it
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Today it counts 28 employees and it has revenues for about 5 Mln Euro
VI-‐grade GMBH
Founded with a manager who had an important sale experience in the area
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It offers CAE tools for the automoJve, train and aerospace industry Based on research on the control of mechanical systems
VI-‐grade GMBH
VI-‐grade counts 25 employees and it has revenues for 2.5 Mln Euro
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It is owned by the managers who joined the company one year acer its incorporaJon
IP issues
In both eMoJon and VI-‐grade cases the support by the TTO on the possibility of protecJng the products with patents was non existent. There was no “procedure”
The Italian law assigns the ownership of the invenJon and the rights to the inventor, not to the University
Most TTO do not have budget to cover the costs for the deposit of the patent applicaJon
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The IP scenario
The “top 5” universiJes count at the end of 2008 a porfolio of about 200 patents each
The average of all the universiJes that have a TTO is of about 40 patents each
The investment in IP is, on the average, of about 220 thousand Euro per year for the “top 5” and of somewhat more than 50 thousand Euro for all the universiJes with a TTO
On the average the “top 5” close 5 to 7 licensing deals per year and all the universiJes 1
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The IP scenario
The revenues generated by the licensing deals for the “top 5” universiJes is about 150 thousand Euro per year on average
Netval, an associaJon of 46 TTO in Italy recently assigned to a private company the commercializaJon of their IP
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The minuses of the Italian scenario
Doctoral schools • There are few students • The basin of airacJon is local, few internaJonal students • Entrepreneurship is weak amongst the PhD students • The recruiJng process is defecJve The innova<on ecosystem • There is a limited M&A acJvity on high technology companies • The intangibles are ocen not considered in the evaluaJon of a company • There is no altude to design companies that work in the early stages of the supply chain offering IP
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The pluses of the Italian scenario
Opportuni<es • There are numerous pockets of excellency in research Italy is the third country in the world for number of scienJfic publicaJons • Engineers are prepared, skilled, loyal and do not cost astronomically • Funds are becoming available, see for example the Fondo Italiano di InvesJmento • The UE is pushing on the local regional governments to support the creaJon of new ventures • The quality of life is high and can airact skilled managers and researchers from abroad
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The needs of the Italian scenario
Doctoral schools and research • InternazionalizaJon • Stronger and focused public investments on doctoral programs • Support for hiring few qualified research managers, world famous scienJsts capable of managing large labs
The innova<on eco system • Build the innovaJon supply chain starJng from companies accellerators linked to early stage venture capitals • Focus on the global market for the M&A acJvity
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What does M31 do?
M31 Italia turns innovaJve technologies into start-‐ups.
M31 USA turns technology start-‐ups into successful global companies.
M31 was incubated in Startcube the University of Padova start up accellerator
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