Virginia’s Center for Innovative Technology FLC Mid –Atlantic Regional MeetingHow Virginia Leverages Technology Transfer to Encourage Economic Development Dan R. Mills Vice President Regional Operations September 15, 2005
Mission CIT accelerates Virginia’s next generation of technology and technology companies
Regional Operations Portfolios • Early stage technology businesses with significant growth potential; • Businesses have specific needs that CIT can address; • Owner/management team is a capable partner.
Regional Operations-Services • Direct • Technology Business & Market Development • Business & Technical Information Briefings • Federal Funding Assistance • Capital Access Assistance • Technology Transfer (NASA M-A RTTC, et.al.) • Mentoring/Resource Network Development • Indirect • Prototype Development (TAC-ODU) • Advanced Entrepreneurial Support (EC-W&M)
CIT Regional Operations Capacity to follow-up with clients on site is the KEY for successful outcomes Richmond
Regional Operations-Community Support • Funding support and volunteer service to 10 regional technology councils and the Virginia Technology Alliance; • Direct support for the Hampton Roads Technology Incubator: • Provided staff to fill Executive Director; • Secured $195k additional funding from City of Hampton for current year; • Guided expansion of Incubator to James City County.
Regional Operations-Community Support (cont.) • DARPA contract support for SBIR/STTR outreach at Institute for Advanced Learning & Research in Southside VA; • Volunteer service to steering committees for national Sensor Expo & Conference in Tidewater and 4 regional sensor forums; • Volunteer service to National Association of Sensor Science & Technology; • Volunteer service to VA Space Grant Consortium.
Technology Transfer • Past client successes emphasized spin-out: • 1996-2001 • ESI Ash Process Argonne NL • Dilon Scintillation Jefferson Lab • Visual Ultrasonic probe NASA Langley Programs • Avir Gas detection NASA Langley • Tecnico Flexible Molding NASA Langley
Technology Transfer (cont.) • Nascent/Luna Crack detection NASA Langley • Unitika Polyimide Insulation NASA Langley • 2002* • STC Catalysts Oxidation catalyst NASA Langley • 2003 (low temperature) • Truview Retinex NASA Langley • 2004 • Face Int’l Piezoelectric NASA Langley Ceramic Actuator • Luna Fiber Optics NASA Langley
Technology Transfer-FY05 • Present efforts focused on infusion in support of contracts including NASA MA RTTC (TeCC);* • Clear need specification is critical; • Source identification using custom database of VA technology businesses and proprietary vendor information tools;
Technology Transfer (cont.) • Experienced regional staff required to assess both technology and the business status to determine the “match” to the “need specification”; • Successful acquisition requires extensive staff support to achieve assimilation: • Mentoring & resource network development; • Incubator support; • Federal funding; • Private equity investment.
Regional Operations FY05 Results • Provided services to 271 businesses • Services assisted businesses with achieving: • $114.8M in sales and wage gains (EV); • $32.4M in SBIR/STTR awards (LC); • $5.2M in private funding (LC).
Regional Operations FY05 Results (cont.) • Virginia Affiliate of NASA RTTC (TeCC)*operations • Showcased NASA technologies to 2603 companies (25 local & 3 regional events) • 30 requests for NASA technology applications or assistance • 2 Space Act Agreements • Initiated technology infusion focus *Technology Commercialization Center
Regional Operations FY05 Results (cont.) • HRTI support • Provided staff to fill Executive Director • Secured $195k additional funding from City of Hampton for current year • Guided expansion of Incubator to James City County • Staff recognition • Finalist GRTC Leadership Award • Technology Champion Award-Region 2000 Technology Council