Promoting New Venture Creation at Trinity College Dublin: Success Stories and Strategies

1. Promotion of New Venture Creation at Trinity College Dublin Bridget Noone Enterprise Executive

2. 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

3. TRINITY’S SUCCESS IN RESEARCH FUNDING – SFI/PRTLI SFI 2001 – 7 Projects €44.45m 2002 9 Projects €12 m 2003 18 Projects €18m PRTLI Cycle 1 (1999-2000) – TCD gained €49m. As lead partner Cycle 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 partner Total Award to TCD: 130m. (estimate)

4. 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

5. Who benefits • Researchers • Trinity College • Economy

6. Basis of SME Formation from University lies in Research 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 Subjects • Genetics • Physics • History • Medicine • Computer Science • Mathematics • Language Learning • Nutrition • Biochemistry • Mech. & Manuf Eng

7. 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.

8. 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

9. LAB-TO-MARKET: JOURNEY T C D’ S R I S Office P A T’ S T E A M H P S U T E A M

10. Our Strengths: Three background Advantages for launching new ventures TCD Reward for Inventors Long experience of R&IS Support of the Institution General Enterprise Ireland funding for Early stages IP Policy Availability of Venture Capital – 4th Level Incubators International Entrepreneurship Networks – Processes Benchmarking

11. 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

12. 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

13. 2004 PROGRAMME OF EDUCATION/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

14. EXAMPLE – 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

15. 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…

16. Process of Workout – 2003-2004 • 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

17. 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

18. 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

19. Benefits • 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

20. Results 2004 Project 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

21. 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

22. Contact Details Bridget Noone Enterprise Executive Trinity College Enterprise Centre The Tower Pearse Street Dublin 2 Telephone: 353-1-6775655 Email: bnoone@tcd.ie