technology entrepreneurship from innovation to business venture center for innovation and technology...
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
CITE Entrepreneurial Finance CITE Entrepreneurial Finance Business Plan Projects for Summer Business Plan Projects for Summer
2007 2007
CITE Entrepreneurial Finance CITE Entrepreneurial Finance Business Plan Projects for Summer Business Plan Projects for Summer
2007 2007
Dr. Cory R. A. Hallam
Director, UTSA Center for Innovation and
Technology Entrepreneurship
June 13, 2007
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
Welcome to the CITE!
At the heart of American enterprise is the desire to create. Technological innovation is the foundation for creating new enterprises, and the spirit of entrepreneurship is the catalyst for turning these innovations into reality.
Through a process of education, experiences, resources, and support, the Center for Innovation and Technology Entrepreneurship (CITE) at the University of Texas at San Antonio (UTSA) is focused on fostering the growth of new technology-based ventures.
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
"I think there is a world market for maybe five computers." -- IBM chairman Thomas Watson, 1943
"Computers in the future may weigh no more than 1.5 tons."--Popular Mechanics, forecasting the relentless march of science, 1949
"Everything that can be invented has already been invented." -- Charles H. Duell, director of the U.S. Patent Office, 1899
Source: http://www.freemaninstitute.com/quotes.htm
Technology at the Core of Progress
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
The Technology Entrepreneur
• Technology Entrepreneurs are the creative force capitalism needs to work
• They generate jobs and strengthen the economy• They strive to make a difference and are motivated by
– Challenges– Achievement– Independence– Accumulation of Wealth
“Ever since I was a teenager, if something was a challenge, I did it and learned it. That’s what interests me about life – setting myself tests and trying to prove that I can do it”
-Richard Branson
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
US Industry Growth by Firm Size
U.S. Job Creation by Firm Size
0
20
40
60
80
100
1-4 5-9 10-19 20-49 50-99 100 -249
250 -499
500 -999
1 000+
Firm Size
% o
f n
ew
job
s c
rea
ted
%of Job Creation
Cumulative % of job Creation
U.S. Job Creation by Firm Size
0
20
40
60
80
100
1-4 5-9 10-19 20-49 50-99 100 -249
250 -499
500 -999
1 000+
Firm Size
% o
f n
ew
job
s c
rea
ted
%of Job Creation
Cumulative % of job Creation
U.S. Job Creation by Firm Size
< 100
100 - 499
500+
U.S. Job Creation by Firm Size
< 100
100 - 499
500+
While the larger companies seem to generate more receipts and salaries per capita, job growth is significantly higher in smaller businesses
Source: [1] U.S. Small Business Administration, Office of Advocacy, based on data provided by the U.S. Census Bureau, Statistics of U.S. Business and Nonemployer Statistics (http://www.sba.gov/advo/research/data.html).[2] New Quarterly Data From BLS on Business Employment Dynamics By Size of, Thursday, December 6, 2005, U.S. Buereau of Labor Statistics, www.bls.gov.
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
Locus of Opportunity
• The United States is a prime location for new technology ventures…
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
How Big is the Problem?
• What are we building a business on?
• What are we selling?• How big is the
problem– $1 000 – forget it– $1 000 000 000 –
count me in!
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
What is for Sale?
• A Technology• A Product• A Service• A Concept• An Image• A Lifestyle• The IP• The Company
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
The Technology Entrepreneur
• Technology entrepreneurs are passionate and skilled individuals that – create new business ventures – using key technologies – based on solid science and engineering.
•The technologies lend themselves to the creation of new products and the delivery of new services•Successful Technology Entrepreneurs demonstrate focus, an unyielding will to succeed, and an ability to move at speeds beyond the typical business world
•The UTSA CITE is committed to growing and nurturing a new generation of technology entrepreneurs
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
A Good Example
•Company based on technology licensed from university health science center•Polymerized bone scaffold, also used for cartilage replacement in Europe•Sold for $76M on $3.3M in sales – a multiple of 23!!!!!
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
Current Projects
1. Texas Research Park Foundation• a) Business plan for building a successful technology research
park in San Antonio• b) Business plan for creating a pre-seed entrepreneurial
venture fund as part of the TRPF
2. WenoHealthcare • Healthcare advertising portal and secure communications for
medical files
3. Hyperion Biotechnology• Home health performance monitoring with biomarkers
4. Dr. Roza Sypniewski• Radiofrequency Treatment of human cells, patent application
and early lab trials in process
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
TRPF
• Part of a larger set of research and strategic planning– MBA & MOT graduate students– Collaborative work with TRPF– Collaborative work with Canary Islands– Results of class project will help set the
investment strategy for the TRPF
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
WenoHealthcare
• Weno Healthcare is the only website that does two extremely valuable things:– Healthcare providers & organizations are allowed a free
advertising mini site to self maintain and manage! This serves the public need to find and compare, as well as, the healthcare industry’s need to explain their services in detail.
– Provides a secure, internal, communication email system. Members can log in and communicate with other members whether they are personal users or other healthcare organizations. It’s essentially, healthcare online rather than healthcare on hold. The organizations and providers that participate with Weno will add value to their own cause by offering their customers and their healthcare referral network this easy to use tool.
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
Hyperion Biotechnology
• America is getting older. People are willing to do what they can to maintain their health well into their 80’s and beyond. Nutrition and exercise are the cornerstones of maintaining a high level of wellness. But here’s the problem: How does one decide what to do in terms of exercise and nutrition? There are literally thousands of nutritional products and diets out there and many claims that are not backed up by solid evidence. People want to know what really works and what doesn’t but that information is almost always not available. Hyperion biotechnology has developed a technology that changes this. Hyperion’s patented physical performance biomarker technology will empower consumers by giving them the tools to evaluate if the changes they make in their lifestyle, including exercise, diet and supplements, are actually improving their ‘wellness’. The technology measures substances found in saliva that are linked to fundamental processes related to how the body uses energy. The device can be used at home and is similar to dipstick technology similar to home pregnancy tests. Because we do not use the test to make a clinical diagnosis, FDA approval is not required. The nutritional supplements industry is also excited about the technology. Now it will be possible for supplements to be tested in a meaningful way as well as providing a unique product to the marketplace.
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Technology Entrepreneurship from Innovation to Business Venture
Center for Innovation and Technology Entrepreneurship
Questions
• Questions?