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WVU - Innovation, Entrepreneurship, & Commercialization

This Prezi is a work in progress to show proposed relationships between activities that support innovation, entrepreneurship, & commercialization at West Virginia University.Please send comments, suggestions, and questions to jsthomas@mail.wvu.edu
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Jessika Thomas

on 8 May 2013

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Transcript of WVU - Innovation, Entrepreneurship, & Commercialization

Largely unoccupied Innovation, Entrepreneurship & Commercialization at WVU Creating a Mountain of Excellence Current Environment:
Disconnected resources WVU Research The "Hub" Mission:
To facilitate the engagement of faculty, students, and community members in commercialization and business by serving as the hub connecting individuals and entrepreneurship resources.

Vision:
The "Hub" will invigorate the local, state, and regional business communities by supporting the development and growth of new businesses and by connecting existing businesses with intellectual material generated within the University. As a result of activities and support provided through WVU's "Hub," new businesses will be formed in Morgantown and across the State, students and faculty will actively seek to commercialize their innovative ideas, and this area will be seen as a critical link between innovation corridors stretching north to Pittsburgh, south to Charleston, west to Ohio, and east to central Pennsylvania.

Activities
1. Coordinate activities across campus that support innovation, entrepreneurship, and commercialization. While many activities will reside in different units or colleges, the "Hub" will work with representatives across colleges and schools to assure the integration of services and prevent duplication or competition.

2. Serve as a "front door" for students, faculty, community members, and external stakeholders seeking assistance from or partnership with WVU on innovation, entrepreneurial, or commercialization activities.

3. Create a virtual innovation, entrepreneurship, and commercialization clearinghouse that will provide links to existing WVU programs that support innovation and/or entrepreneurship and will offer commercialization support to entrepreneurs across the State through online resources and distant support. A searchable database of all intellectual property should be available through this portal. College of Business & Economics Brickstreet Center for
Innovation and Entrepreneurship WVU Research WVU Research Tech Transfer OTT's mission is:
Encourage invention and innovation at WVU.
Protect the Intellectual Property (IP) rights of WVU by patent, copyright, or other means.
Transfer the results of WVU research to the public by bringing researchers and the business community together in a relationship of mutual advantage.
Generate income for future research and education.
Contribute to local, state, regional and national business competitiveness and economic development. [proposed] Ecosystem Supporting Innovation College of Law Entrepreneurship & Innovation Law Clinic The West Virginia University College of Law’s Entrepreneurship & Innovation Law Clinic offers start-up companies, small businesses, non-profits, and individuals legal services in areas of counseling for a product plan or business organization; licensing; employee and contractor agreements; intellectual property; financing and venture capital; planning and negotiation; dispute resolution; and generalized assistance in business formation, planning, and strategy. EQuad Davis College of Agriculture,
Natural Resources and Design A front door for I/E/C WVU Research LIINC Linking Innovation Industry & Commercialization WVU’s LIINC project is designed to accelerate the commercialization of research results and strengthen its regional economic impact by creating new and improving traditional ties to industry and other regional entrepreneurial universities.

LIINC will aggressively pursue these primary objectives that significantly contribute to the overall goal of creating a stronger innovative and entrepreneurial culture for the faculty, students and surrounding industries and communities:

Visiting universities with successful commercialization efforts to observe and examine best practices while concurrently inviting leaders from peer institutions to visit WVU and provide information and feedback related to their own university’s efforts.
Hosting business development events and workshops for students, faculty, and industry representatives to foster relationships across colleges and create new alliances with industry and academic collaborators.
Coordinating industry visits to campus to directly connect them with relevant faculty researchers. Entrepreneurship
Major & Minor Experiential
Learning Center Currently performs consultation & outreach by student teams, primarily with students from the MBA program.

Plans include the expansion of consulting services using undergraduate students as well and providing free to low fee consulting for WVU employees and students.

Traditional consulting will still be available for WVU offices and external government agencies and private businesses. State-wide High School Business Plan Competition Business Plan Competition Apps Challenge Idea Challenge Perley Isaac Reed School of Journalism Martin-Hall Agency Research Park Connect with
Potential Investors Seed
Angel investors
Venture capital
Business community Incubator Our Mission
To provide the resources and structure to promote, organize and commercialize business startups from concept through sustainable operations for young entrepreneurs enrolled in higher education institutions in the State of West Virginia
Vision
Participation. Education. Commercialization
Priorities
•PROMOTE participation from all four year colleges and universities in Statewide Business Plan Competition
•ORGANIZE resources of students, entrepreneurs, angel investors and venture capitalists in the state of West Virginia
•EDUCATE students and entrepreneurs to facilitate successful innovations and business startups
•COMMERCIALIZE business concepts and ideas by linking the entrepreneurial community of West Virginia TreMonti
Consulting Contracted to provide technical and market assessments of WVU IP. College of Law Entrepreneurship & Innovation Law Clinic By accessing the West Virginia University College of Law’s Entrepreneurship & Innovation Law Clinic, students, faculty, and community members who are engaged in entrepreneurial activities will also enter the ecosystem supporting innovation, entrepreneurship, and commercialization. Individuals and small business who seek assistance from the clinic will be linked into the larger ecosystem. Innovation Lab Shared workspace environment
High energy workshops
Entrepreneurial skills programming
Access to coaches and mentors [proposed] Innovation Lab Shared workspace environment
High energy workshops
Entrepreneurial skills programming
Access to coaches and mentors [proposed] Student-managed low-cost marketing and advertising agency.
Experiential learning.
Affordable services. Perley Isaac Reed School of Journalism Martin-Hall Agency Student-managed low-cost marketing and advertising agency.
Experiential learning.
Affordable services. Future ecosystem:
Coordinated support for
diverse entrepreneurial
activities The"Hub" Serves as a front-door for individuals and businesses wishing to innovate, create, and commercialize.

Directs clients to appropriate services and support systems. [proposed] Outcomes & Services Internal
Patents
Start ups
Non disclosures
License agreements
External
R&D partnerships
Small business formation
Spin offs
SBIR/STTR (Small Business Innovation Research and Small Business Technology Transfer) Research & Development Contracts Through the WVU Research Office, researchers actively solicit contracts to find solutions needed by businesses.

This model of research activity brings external needs into the university environment, focusing innovative work on commercial needs and providing a source of research funding. Technical feasibility Evaluation & Analysis IP & Legal analysis Market/economic feasibility Proof of concept College of Business & Economics Brickstreet Center for
Innovation and Entrepreneurship Business Plan Competition Apps Challenge Idea Challenge Our Mission
To provide the resources and ecosystem to promote, organize, mentor and commercialize business startups from concept through sustainability throughout the State of West Virginia.
Vision
Promote. Educate. Mentor. Commercialize.
Priorities
•PROMOTE participation from students, faculty and entrepreneurs throughout the state
•ORGANIZE resources of students, faculty, entrepreneurs, angel investors and venture capitalists in the state of West Virginia
•EDUCATE entrepreneurs to facilitate successful innovations and business startups
•COMMERCIALIZE business concepts and ideas by linking the entrepreneurial community of West Virginia Consultant is currently studying the research park. A strategic plan with a new direction will be developed. Please remember -

I'm a draft of a conceptual white paper.

Ideas, suggestions, comments, and missing components are always welcome. Please email jsthomas@mail.wvu.edu. The goal How do we get there? Courses, Minors &
Experiential Learning Entrepreneurship major & minor (B&E)
Capstone courses (Statler)
Media innovation (Journalism)
Leadership (Eberly)
MBA consulting program (Brickstreet)
EQuad (Davis)
Professional Writing & Editing (Eberly)
Entrepreneurial workshop for
graduate students (Grad Ed/B&E) Innovation Scouts Innovation scouts work throughout the university to educate faculty and students about the process of protecting intellectual property and commercializing it.

Several models have been proposed:
Graduate students (trained and paid a modest stipend by TreMonti)
Community business people
Faculty interested in entrepreneurship
Scouts within the Tech Transfer office [proposed] With increased funding, the Center will be providing a greater variety of services.

Service fees will depend on the relationship of the client to the University and on the revenue-generating status of the business. For example, students seeking assistance in learning how to develop a business plan will not be charged, but an established community business seeking to have a market feasibility study completed for a planned expansion would hire the Center as a consultant.

Services will be provided by undergraduate and
graduate students as well as faculty, creating
valuable experiential learning opportunities for
WVU students. Existing Competitions Entrepreneur
in Residence The Entrepreneur in Residence will provide guidance and coaching to WVU students and faculty, as well as to community clients, on how to transform an idea into a business. Coaches
& Advisers Coaches and advisers will provide information on creating and running a business as well as on securing investors.

These individuals, recruited through "the Hub" or the Brickstreet center, will help direct innovative ideas through the Hub so that the students and faculty members have access to other support structures. [proposed] SIPPS WV Prime WVU faculty coalition but
not WVU affiliated WV Prime WVU faculty coalition but
not WVU affiliated Expectations
of & for Faculty Younger & entrepreneurial faculty need to perceive the University as supporting entrepreneurial-minded research. Possible structures to encourage these activities include:
revise P&T guidelines and Faculty Handbook (include patents, license agreements, non-disclosures in P&T considerations; rework the one-day/week consulting rule)
provide access to services where the faculty are (roving scouts, online forms for Tech Transfer, etc.) [possibilities] A business acceleration with deskspace and conference space for faculty, students, and the community to use when working on commercialization projects; paper-based resources (e.g. business forms for filing with the State, small library with how-to guides for start ups and developing business plans), computer and printers, receptionist/program assistant support Technical feasibility Proof of concept - Determine if the proposed concept will in fact function as expected

Service is now being provided by TreMonti through a contract with Tech Transfer IP & Legal analysis Determination of ownership of intellectual property; Identification of stakeholders

Some aspects are covered by TriMonti contract, but University policy must be developed to clarify the University's ownership interest especially when providing support for non-employees.

SIPPS should play a role under the direction of the Tech Transfer Office. Market/economic feasibility Market studies to determine the correct commercialization strategy as well as the market's ability to support the idea

Brickstreet Innovation and Entrepreneurship Center anticipates providing these services. Office of
Technology Transfer Additional activities under forthcoming strategic plan Student Competitions State-wide business plan
Apps Challenge
Idea Challenge
College poster presentations
Graduate student conferences
WV Prime / EQuad innovation competition Office of Technology Transfer A forthcoming report on the Research Park and Tech Transfer by a consultant will lay the groundwork for a strategic plan.

A survey of other universities suggests that Tech Transfer may become more aggressive in seeking IP for commercialization, more streamlined for researchers reporting IP, and more engaged with industry partners. Newly funded grant that will provide provisional patent work for student innovators through the College of Law's Entrepreneurship Clinic. Develop local and regional environment to support commercialization outcomes Commercialization activities coming out of WVU will contribute to economic development and job creation in the region. Working with government and business leaders, the University will seek to create an innovation ecosystem that is integrated with its community.

Entities within the University community will need to work in a coordinated fashion to develop relationships with
entrepreneurs who can be coaches and mentors
angel investors
venture capitalists
established business seeking business or technology solutions
local and state government
interested friends and alumni Expanded Services Feasibility Studies
Business plans
Strategic operating plans
Workshops on entrepreneurial activities (offered statewide)
Marketing studies & strategies
Financial analysis
Organizational structures
Process reengineering [currently expanding as Brickstreet CIE] Expanding Services to
Additional Markets and Clients As Brickstreet CIE, services will be provided with different fee structures in order to increase access to services:

Non-commercialized activities of
WVU students & researchers - No fee
University entities - Reduced fee
Local and state government - For fee/No charge
Private industry (incl. spin
offs to mature companies) - For fee A five-year agreement with the West Virginia Department of Education has created the West Virginia High School Business Plan Competition, which will be open to 157 West Virginia high schools and 37,000 high school juniors and seniors. B&E has committed a $10,000 scholarship to the winning team of up to four students if they choose to attend B&E With an Entrepreneurship degree, students will have a stronger foundation for a career in a variety of businesses large or small. A minor in entrepreneurship allows the student to study both the theory and process of entrepreneurship. Coursework focuses on key business skills particular to both large and small ventures. The online course offerings make it ideal for nontraditional students and working professionals. The minor curriculum recognizes independent thinking, decision-making, and effectiveness in a diverse workplace. Brickstreet Center for
Innovation and Entrepreneurship Prototyping Capabilities The ability to create prototypes of devices is essential to the IP protection process. While prototyping resources do exist across campus for certain technologies, there seems to be confusion about how to access these resources and what resources are available.

At the very least, the "Hub" should inventory WVU prototyping capabilities and facilitate agreements for how these capabilities can be used by students, researchers, and others beyond the University entity that manages the prototyping devices. Community Relationships As many individuals and organizations have acknowledged, WVU needs to strengthen its working, investing, and supporting relationships with local, state, and regional governments and private industry.

Ideally these relationships will lead to contracts for business and technology solutions' a fertile environment for business startups, spin offs, and growth; and direct donations. Innovation, commercialization, and entrepreneurship enable a university to have a powerful economic impact on its region that extends far beyond employing staff and faculty and preparing students for the workforce. WVU has recognized its role in supporting economic development for many years, but its activities remain uncoordinated. Consequently, the University’s impact remains far below its potential, and many faculty, students, and state residents are unaware of the breadth of services that the University provides in support of entrepreneurial activities.

The University needs to focus on coordinating its services and providing an access point to services in order to support its economic development mission more effectively. Statement of Need Vision
The Innovation Lab will bring together individuals with diverse skills and innovative ideas to mix freely in a vibrant and energetic location. Their exchanges will generate marketable ideas and commercial activities. The University needs a “front door” for faculty, students, community members, and state residents to access the entrepreneurial services that are available. This function can be described as a one-stop shop that mentors clients so that they can identify their entrepreneurial goals, figure out what they need to do in order to accomplish those objectives, and connects them with other units and programs at the University that provide related services and education.

This white paper proposes that WVU establish a “Commercialization Campus” to coordinate the various services available for innovation and entrepreneurship and to serve as the central hub for individuals and businesses seeking to access those services. Visible and coordinated services will additionally combat the present perception that these activities are not valued at the University and will instead contribute to a culture in which we, as individuals and the University, engage in greater intellectual risk-taking and creativity, seeking to create, not find, our place. The University must identify the various programs and offices that provide academic and business services in support of economic development and must coordinate these activities. Coordination will eliminate internal competition and confusion, enable units to direct clients to the best provider match, and clarify what services are not being provided so that those supports can be appropriately developed. Access point for services: Coordination of services Outcomes of a
coordinated ecosystem: Multiple access points for students, faculty, and external stakeholders to gain access to innovation, entrepreneurship, and commercialization resources
A nurturing environment to support innovative ideas
Coordination of existing activities to improve the success of activities and decrease duplication and internal competition
Ability to direct clients to broad range of available resources
Identification of gaps in the supportive environment and the ability to constructively address those gaps SIPPS SIPPS will provide students with access to patent legal services by developing a system whereby students, with the SIPPS Pilot Project as an intermediary, will be linked with both law students and practicing patent attorneys for the purposes of securing a provisional patent. Student Intellectual Property Patent Services NRCCE A research center and information clearinghouse dedicated to securing our nation's energy needs, protecting our environment and promoting our economic development. Suggestions? Technology Transfer Advisory Board A board of advisers, with representation from client colleges and campus units, will be established to guide the resources and priorities of the Tech Transfer office. [to be enacted] Clients Faculty
Staff
Students
Community members
External stakeholders SIPPS SIPPS will provide students with access to patent legal services by developing a system whereby students, with the SIPPS Pilot Project as an intermediary, will be linked with both law students and practicing patent attorneys for the purposes of securing a provisional patent. Student Intellectual Property Patent Services TreMonti
Consulting Contracted to provide technical and market assessments of WVU IP. NRCCE A research center and information clearinghouse dedicated to securing our nation's energy needs, protecting our environment and promoting our economic development.

The NRCCE also provide conference space which can be reserved for a variety of uses. This space could serve as an excellent resource for meeting and workshops related to innovation, entrepreneurship, and commercialization. State of West Virginia "Local" Community WVU colleges
central units
health science center
research centers High Technology Consortium
SBASECAMP
INNOVA Commercialization Group
Robert C. Byrd Institute
West Virginia Jobs Investment Trust (JIT)
National Energy Technology Laboratory (NETL)
National Institute for Occupational Safety and Health (NIOSH)
K-12 curriculum, STEM & business competitions
Entrepreneurs & business community
Local banks & investors
Friends & alumni SBA/SBDC
State government
I-79 Technology Corridor
Mid-Atlantic Technology, Research and Innovation Center (MATRIC)
HEPC (Division of Science and Research)
Marshall University, other colleges & universities
BioWV
WVCTSI Regional "Technology Corridor" Other colleges & universities: Pitt, CMU, Penn State, etc.
Pittsburgh / western PA investment community
Resources and partnerships for innovation, entrepreneurship, & commercialization
Power of 32
Marcellus Shale Coalition National & Global Opportunities Needs for healthcare, products, & processes
Potential markets & investors
Partnerships to strengthen research and development activities WVCTSI Mary Babb Randolph Cancer Center Mary Babb Randolph Cancer Center So what could it look like? WVU Research LIINC Linking Innovation Industry & Commercialization WVU’s LIINC project is designed to accelerate the commercialization of research results and strengthen its regional economic impact by creating new and improving traditional ties to industry and other regional entrepreneurial universities.

LIINC will aggressively pursue these primary objectives that significantly contribute to the overall goal of creating a stronger innovative and entrepreneurial culture for the faculty, students and surrounding industries and communities:

Visiting universities with successful commercialization efforts to observe and examine best practices while concurrently inviting leaders from peer institutions to visit WVU and provide information and feedback related to their own university’s efforts.
Hosting business development events and workshops for students, faculty, and industry representatives to foster relationships across colleges and create new alliances with industry and academic collaborators.
Coordinating industry visits to campus to directly connect them with relevant faculty researchers.
Full transcript