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Introduction to University Tech Transfer

Introduction to University Tech Transfer. Fall 2013. @Columbia_Tech. Columbia Technology Ventures. Columbia Technology Ventures. www.techventures.columbia.edu. techventures@columbia.edu. What Is Academic Tech Transfer?. Academic research Practical applications

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Introduction to University Tech Transfer

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  1. Introduction to University Tech Transfer Fall 2013 @Columbia_Tech Columbia Technology Ventures Columbia Technology Ventures www.techventures.columbia.edu techventures@columbia.edu

  2. What Is Academic Tech Transfer? • Academic research • Practical applications • Benefit society on a local, national and global basis

  3. Beware the Valley of Death “Somewhere between invention and commercialization, there’s a desolate place where new technologies go to die alone. It’s called the Valley of Death, and it’s littered with the decaying corpses of technologies that never get to realize their potential. Too many technologies will be left to rot on the lonely, dusty road.”

  4. What is “The Valley of Death” Industry & VC Funding Government & Foundation Grants Commercial value The Valley Product Development, Marketing, and Sales Early Market Testing Technical Validation & Prototyping EarlyFeasibility Studies Basic Research

  5. History of Technology Transfer • Pre-1980 • Early-stage research innovations belonged to federal agencies • However, government not motivated to actively commercialize • Only 5% of patents ever commercialized1 • Result: very few products, jobs or other public benefits • Bayh-Dole Act (1980) gave universities right and obligation to patent and commercialize federally-funded inventions • Most universities broadened policies to include all inventions made with university resources Since 1980, rapid adoption among U.S. universities 1: Ashley Stevens, New England Journal of Medicine, Feb 2011

  6. Increasing Focus by Industry on Patenting

  7. 300% Increase in Overall Patent Applications Since 1990 USPTO Activity, 1990 - 2011

  8. US Tech Transfer Productivity “By The Numbers”:Cumulative Inputs and Outputs, 1991 - 2011 ~$695B in Researchfunding ~287,000inventiondisclosures ~165,000 patent applications ~59,000patents awarded 48,064 active license & options, 7,495 start-ups, 130+ new drugs & devices, 300,000+ new jobs $2.4M / disclosure 57% 36% 17% Source: AUTM Licensing Surveys (FY91- FY11)

  9. But the End of One Process is Just the Beginning of Another University’s Funnel Industry / VC’s Funnel Only 1 in 6 inventionsever gets licensed Roughly 1 in 100 pharmacompounds gets approved Roughly 1 in 10 venture investmentsis a significant hit Successfulproducton the market

  10. Commercial Success is Not Easy Columbia Source: AUTM 2011Survey Data

  11. Who Else Does Well, Commercially? Source: AUTM 2011 data except * AUTM 2010 data

  12. Inventions Often Take Years to Get Licensed:Only ~50% of Deals Done by Year 3, only 70% by Year 5 Cumulative% of deals done by year # of licenseswithin elapsed year Source: Review of elapsed time from invention submission to executed license, for all 580 of Columbia’s executed licenses from 1982 until 2011 (29 years)

  13. Elapsed Time from Invention to License Relatively ConstantOnly Slight Variation by Health Science vs. Phys Sci; Exclusive vs. Non-Exclusive All Licenses Physical Sciences only Health Sciences only All Licenses Exclusive licenses only Non-ex licenses only Source: Review of elapsed time from invention submission to executed license, for all 580 of Columbia’s executed licenses from 1982 until 2011 (29 years)

  14. Columbia’s Experience Mirrors that of Other Institutions National Cancer Institute’s Licenses # of Years from Patent Filing to License (1995 – 2009)

  15. “Blockbusters” Drive Most of the Revenue, But are Rare % of active licenses Less than 1% of licenses generate > $1M / year (1) Source: AUTM Licensing Survey (FY04)

  16. And “Big Winners” Take Many Years To Develop ... And Aren’t Always Obvious at the Time Columbia’s Four Biggest Revenue Producers (Revenue per Year)

  17. Additionally, Patent Costs are Large and Incurred Early Source: Columbia University, Patent & Licensing Group 16 CONFIDENTIAL

  18. Columbia’s Tech Transfer Mission • To facilitate the translation of academic research into practical applications, for the benefit of society on a local, national and global basis • To support the research of Columbia faculty by generating funding for the University and facilitating partnerships with industry where appropriate • To educate and serve as a resource for the Columbia community on matters relating to entrepreneurship, intellectual property, and technology commercialization

  19. Columbia Technology Ventures Key MetricsFY08 – FY13 +24% vs. 2008 +68% vs. 2008 +60% vs. 2008

  20. Columbia Technology VenturesAnnual Activity Metrics ~70 licenses & options ~15 start-up companies ~$140M in gross IP revenues Columbia Technology Ventures ~350 new inventions from University research

  21. Wait, Does the University Own Student Inventions?http://bit.ly/TDZoiy

  22. Good Start… But Lots More to Do! ~400 technologiesare currently licensed But ~1400 technologiesare still available! Source: CTV database, Fall 2013

  23. The Path to The Deal Invention report filed Researchdiscovery Patentability analysis Commercial analysis Prioritization License negotiation Patentprosecution Marketing Post-contractcompliance

  24. Products Using Columbia Technology DISCOVERY STUDIO Arrow Catheter

  25. Where Does the Money Go?University Policy On Distribution of License Revenues Gross Revenue First $125K Gross Revenues Over $125K Note: Certain caps and deductions may apply. Please refer to Appendix D of the Faculty Handbook for details.

  26. Many Different Levers to Customize Deal Structure Sample Deal A Sample Deal B Remember, IP licensing is a “repeated game” … so treat people as you will want them to treat you next time!

  27. Columbia’s License Boilerplate Has Evolved Over Time • ~18 pages long • Multiple versions for different situations • Combination of legal and business issues

  28. 150+ Startups Spun Out of Columbia in 20 YearsOf those, 90+ still active, 40+ VC-backed, 9 gone public, 18 acquired Media & Fashion Communications Health Analytics Pharma & Devices Cybersecurity & Corporate Computing System Management ARTS (SMARTS) Cleantech

  29. Entrepreneurship@Columbia: Many Resources Available! Columbia DepartmentsColumbia Tech Ventures Columbia Business School Columbia Engineering Center for Advanced Technology Columbia Journalism Student & Alumni Columbia Venture Community Application Development Initiative http://entrepreneurship.columbia.edu

  30. # of Columbia Start-ups Launched Involving CTV

  31. Thank you! techventures@columbia.edu http://techventures.columbia.edu @Columbia_Tech Columbia Technology Ventures Columbia Technology Ventures

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