ueda summit 2012: modern measurement of 21st century university-based entrepreneurship (provance...
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WEXFORDSCIENCE+TECHNOLOGY
From Borders to Horizons -
Collaboration for Scale, Impact, and Prosperity at
The ‘Engaged’ University
Confluence of Events
A shift in some state and municipal economic development efforts in favor of business expansion and creation over pure incentive-laden attraction.
Focus on corporate profits keeping in-house R&D to a minimum and encouraging partnerships.
Challenges to business creation climate and capital markets. There is a silver lining, I think.
Increased state interest in university research as economic development driver.
You, Me, Mike – Here.
Old School Universities
Economic Development Roles• Educated graduates• Major employer• Research • Passive participants
– (attraction efforts)
• Gravitas• Cultural backbone• Destination campus• “Big Thoughts”
Right Idea – Wrong Ruler
Traditional – REMI, IMPLAN
Research, Research, Research
Google and
Gatorade
The Pursuit of Knowledge
Research
Teaching
Service
Knowledge for the sake of knowledge
The Management of Knowledge
Development
Marketing
Sales
Management of knowledge for competitive advantage
The Benefits of Knowledge
Research
Teaching
Service
Development
Marketing
Sales
Pursuit of Knowledge
Benefits of Knowledge
Management of Knowledge
Intellectual Capital
Innovation
Infrastructure
Ecosystems
The Next Generation University
Economic Development Roles• Workforce continuum
– Graduates– Interns-coops– Executive development– Customized training
• Active Leader– Attraction efforts– Business creation– Retention and Expansion
• Extended campus– (physical and technological)
• “Application of Ideas”
•Public-Private partnerships
•Sense of Place
•Integrated activities
•Collaboration for scale
The Metropolitan UniversityOld Dominion University Model
•Core Instrumentation
•Communications network
•Specialized laboratories
•Intellectual Property
•Clusters/Ecosystems
•Magnetic research
•Destination faculty
•Faculty expertise
•Student workforce
•Continuing education
IntellectualCapital
Innovation
Infrastructure Ecosystems
Geographic, Proximate, Intellectual
Oceanography Particle Physics
Modeling and
Simulation
Port & Maritime
Aerospace & High
Performance
Engineering
Alternative Energy
Bioelectrics
WEXFORDSCIENCE+TECHNOLOGY
Maximizing Research Investments
Alternative Energy
Bioelectrics
M&S
Faculty Entrepreneurship
Technology Transfer Translational Research Incubation &
Acceleration Spin-offs Market Expansion Business Attraction
Easy to Say; Harder to Do
PrivateInvestment
Science Research
TechnologicalAdvance
ProductivityGrowth
EconomicGrowth
Job Growth
NewCompanies
New Industries
PublicInvestment
University – Business RelationsVenus and Mars
University Business
Intellectual Property Rights Want to own IP Want to own IP
Value of IP Next Google, Gatorade Have to invest $$$ to Commercialize
Public Domain Publish or Perish Can’t Publish and Protect
Culture Very Bureaucratic Responsive – Bureaucratic
Who Can Say Yes ??? Business Leader
Who Can Say No Tech Transfer, Inventor, Dean, Lawyer, Others
Business Leader
Value of Time Lots of Meetings Time is Money
Priorities Teaching, Research Development, Sales
Customer Facing Development, Research Office, College,
Department, Professor
Sales
The Problem We Are Trying to Solve
OurAssessments
Virginia Universities not universally viewed as ‘business friendly’ (IP &execution)
Lack of single point of contact for University-Corporate relations (non
philanthropic, non-research)
Few linkages between technology and ‘knowledge’ to create industry value
University non-porous for majority of discoveries and scholarship
No University-centric ‘sense of place’ for economic development
Current corporate engagements generally one dimensional and activity-focused
Need to become a “go to” place for solutions.(private and public sector)
Validated by Interviews
The ODU Business Gateway
Providing companies and organizations of all sizes a single entry point to engage the
intellectual capital, innovative technologies, and world-class infrastructure of Old Dominion
University to solve business problems, create new offerings, and unlock operational efficiencies that save time and money.
An Integrated Outreach
Creating a single entry point for corporate relations (non-research, non-foundation)
Establishing non-encumbered consulting capabilities within the University
Marketing the capabilities and infrastructure of the entire University as a single enterprise
Using idle IP as a relationship magnet
Business Gateway
Single Point of Entry FacultyExpertise
Studentworkforce
BusinessPartners
Office ofResearch
Tech Transfer
Colleges
Continuing ED
CareerManagementCenter
Research
Manufacturing Extension Program
Training
CEUs
Graduatejobs
Technology Applications Center
ProcurementAssistance Center
Veterans BusinessOutreach Center
MunicipalIssues
Faculty/StudentEntrepreneurs
SBIR/STTRNeeds
Econ. Dev.Partners
Vets/SWAM
International Companies
Corp. UniversityFellowships
BusinessProblems
Scalable Wrap-Around Services
Business and Entrepreneurial Services
Advanced ManufacturingAnd Industrial Solutions
Strengthening Community Businesses
Business ConsultingTechnology DevelopmentSBIR/STTR GuidanceMarketing ServicesTechnology Transfer (idle)Prototype DevelopmentFair Witness TestingLanguage TranslationSearch Engine Optimization
Lean Process Improvement Six Sigma ProjectsSupply Chain LogisticsISO Certification/Audit PrepHuman Factors ConsultingEngineering ConsultingIndustrial HygieneVPMEP ServicesSustainable Engineering
Veterans Business OutreachCenterProcurement AssistanceMunicipal ConsultingSWAM AssistanceTechnology SandboxBusiness Plan CompetitionPLTWDisadvantaged Business
Assistance
Procurement Assistance Center
Continuing Education
More Impact Lies in Unlocking New Ways to Apply Know-How Companies bringing their own IP to the table Joint venture opportunities w/ equity stake Faculty and student entrepreneurshipDepartment Intrapreneurship
ODU Motion Analysis Clinic
How Is It Going So Far?Strong Success in Existing Services
Manufacturing ExtensionPartnership
ProcurementAssistance Center
Veterans Business Outreach Center
Professional Development
20+ active projects80% repeat10 current continuous
improvement projects with Sentara
150+ active projectsAcross Hampton RoadsOver $20 million assisted
awards since July
Over 400 Veterans assisted since June
Working >25 companies Conducting First Regional
SDVOB - SBA Expo
TRADOC - $300KMerchant MarineEngineering
Unplugged
Over $200 million in economic development impact*
*as measured by NIST
All in This Together
UBED Mission
Focus on University Impact for Business Attraction, Expansion and Creation
Foster Collaboration
Identify and Support Research Strengths
PART OF SOMETHING BIGGER
TENANT ATTRACTION &
SUPPORT
THE WEXFORD NETWORK
COMMUNITY ENGAGEMENT
PHYSICAL ENVIRONMENT
THE KNOWLEDGE COMMUNITY
PHYSICAL ENVIRONMENT
“VIBRANT MIXED-USE COMMUNITY”
COMMUNITY ENGAGEMENT
“EXPANDED SOCIAL & ECONOMICAL FABRIC”
THE WEXFORD NETWORK
“COLLABORATION FOR SCALE”
TENANT ATTRACTION &
SUPPORT “STIMULATE
COLLABORATION & INNOVATION”
PHYSICAL ENVIRONMENT VIBRANT MIXED-USE COMMUNITY
ELEMENTS
Lab Office + Research Building
Flex/Cool Space
Iconic Spiritual Center
Lobbies and Street Science
Housing and Hotel
Multi-Modal and Transit-Oriented
Major Retail
Temporary Uses
Open Spaces
TENANT ATTRACTION & SUPPORT STIMULATE COLLABORATION & INNOVATION
ELEMENTS
Event Programming
Innovation Centers
University & Private Industry Partnerships
Develop the Research Park as the Center for Innovation within the Region
Wexford Networks
Talent & Capital
TENANT ATTRACTION & SUPPORT STIMULATE COLLABORATION & INNOVATION
EVENT PROGRAMMINGFOR PUBLIC SPACES WITHIN BUILDINGS AND OUTDOORSProvide comprehensive programming to promote knowledge
exchange, congregation, and collaboration.
1 Outdoor entertainment
2 Small conference / lecture
3 Gathering at an iconic spiritual center
4 Competition for young entrepreneurs
1 2
4
3
TENANT ATTRACTION & SUPPORT STIMULATE COLLABORATION & INNOVATION
INNOVATION CENTERSATTRACTING ANCHOR TENANTS FROM INDUSTRY:Provide a broad spectrum of space, infrastructure, and programming for
companies in all strategies of development
1 Flexible/cool co-working space
2 Flexible lab space
3 Services – CIC coffee bar
4 Conference center
43
2
1
COMMUNITY ENGAGEMENT EXPANDED SOCIAL AND ECONOMIC FABRIC
• For the park to thrive, the broader community must thrive
• Healthy broader community protects and grows real estate values over time
• Produces level of community support critical for park approvals, subsidies and
improvements
• Generates qualified workforce needed to support Knowledge Community
• Promotes Knowledge Community as hub of regional innovation
WHY COMMUNITY ENGAGEMENT?
COMMUNITY ENGAGEMENT EXPANDED SOCIAL AND ECONOMIC FABRIC
TARGETED WEXFORD PROGRAMS
• In today‟s global economy, building and
retaining an educated, highly-skilled
workforce is key to regional
competitiveness
• Investments in education and workforce
development play an essential role in
growing and retaining talent
• Strong neighborhood schools are
critical to revitalize communities
• Effective STEAM/STEM-H education
is the foundation for a strong
Knowledge Community workforce
WORKFORCE TRAINING EDUCATIONAL PARTNERSHIPS
STIMULATE COLLABORATION & INNOVATION
THE WEXFORD INNOVATION NETWORK
PRIMARY BENEFITS
• Provides platform for exchange of ideas, identify best
practices and programming
• Enhances access to subsidies and provides greater
political influence
• Provides broader support structure for new companies
• Improves value proposition for universities due to broader
private industry connections
• Improves access to venture capital
• Improves value proposition for private industry due to
multiple location alternatives
• Encourages greater collaboration, connectivity, and
congregation of people and ideas
Wexford's nine locations create a platform for learning and sharing between a
broad based group of Wexford, its university partners and the community
A Multidimensional Relationship
Product improvements
New customers
Fresh ideas
Talented employees
Dynamic environment
Engineering expertise
Port of Miami, Halifax
Student design projects
Internships
Knowledge Community
Questions?
Managing DirectorInnovation and Economic Development
WEXFORDSCIENCE+TECHNOLOGY
MODERN MEASUREMENT
OF 21s t CENTURY
UNIVERSITY-BASED
ENTREPRENEURSHIP
UEDA Annual Summit
23 Oct 2012
Mike Provance, Ph.D.
@mikeprovance [email protected]
The Startup Process
System of activities involved in mapping creativity to need, and both to economic value
People, ideas, technology – in that order
– “Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted.” - Einstein
The Startup Process
How does it differ for university-based startups?
– Small business inside a bureaucratic organization
– Higher levels of scrutiny, numbers of stakeholders
– Management talent gaps
– Commercialization chasm
Startup Success
How do university-based startups look at success?
– Jobs are not a measure of success; they are [the]
factors of growth
– First sale
– Reputation & credibility
– Survival
Diversity of source, form complicate measurement
Startup Success
UNIVERSITY-BASED ENTREPRENEURSHIP
THE FORMAL APPROACHTHE INFORMAL APPROACH
Tech Transfer
Training Programs
Incubators
Class Projects
Clubs
Labs, Cafes, and
HallwaysCatalyst programs
Entrepreneurs-in-residence
Long-form mentoring
Ecosystems/networks
Startup Success
greenlitelabs.com
Funding is an
important
metric, but…
Not a measure of
success
Measures the quality
of people, ideas &
technology
assembled
Engaging the Institution & Community
Trends in University-Based Entrepreneurship
– Collaborations between University & Community
– Tension between Quantity & Quality
– Increasing Speed & Variety
Engaging the Institution & Community
Align to institutional objectives & outcomes
– Modifying expectations of institution
• Longer payoff horizons, lower upfront
• Ownership dilution
– Investing in potential
• Remove focus on jobs, place on growth targets
• Building ecosystem to supply management
• „Privatizing‟ the spinoff process
?