Giordan, Judith

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InterNano Nanomanufacturing Repository

ecosVC  Research to Innovation to Venture:  An Education and Venture Development Process..  GOAL: Sustainable Materials Commercialization and Innovator Preparation  Judith Giordan Partner – ecosVC Sr. Advisor - National Collegiate Inventors and Innovators Alliance   High Performance Green Nanomaterials for Electronics & Industrial Applications  10th Annual NanoBusiness/NanoManufacturing Summit   Work supported by the National Science Foundation September2011  2011 ecosVC  (www.ecosvc.com) Copyright.  All Rights reserved.  No use without permission ecosVC VALLEY OF DEATH: University  science and engineering innovators are challenged in converting research into commercial innovations, the so-called “Valley of Death”  ecosVC TIME OF BRILLIANCE ecosVC TIME OF BRILLIANCE Nir Kossovsky Steel City re ecosVC Transforming the Valley of Death to a Time of Brilliance and REAP the benefits! • Respect the innovator at least as much as the innovation • Educate for research and fast  innovation and iteration.R2I2V is an interdisciplinary  process – which can be taught and learned. • Address the challenges in venture formation head-on •  Provide  rewards and recognition for innovation in an expanded view of the academic role ecosVC PUBLICATION….PREPRINT • ASEE •  Defines pedagogic background  •  Discusses original research and lit references  ecosVC RESPECTing innovator and innovation • Providing a systematic, focused, cost-effective, scalable approach to venture development and innovator support. • BOTH build value! Idea Research Innovation Scalable Venture Commercial Enterprise Acknowledge Aware Accept Act Accomplish Innovation Innovators ecosVC EDUCATE… TO INNOVATE Only 1 percent of more than 200 U.S. entrepreneurs surveyed cited higher education as a significant motivator toward starting their own venture, while 61 percent cited their "innate drive.“ Northeastern University Survey ecosVC Innumerable undifferentiated “top of funnel” opportunities ADDRESS - CHALLENGE #1: dealflow ecosVC An ecosystem that efficiently validates and structures seed stage deals exists only in Web 2.0, not for STEM ventures CHALLENGE #2: PROCESS, ADVICE, SUPPORT and PRACTICE ecosVC • Low success of STEM translation to commercialization  • Need to “fail fast and iterate”..not easy in STEM CHALLENGE #3: Lost in translation ecosVC Academic Research Mission • Gain knowledge and an understanding of the “world” • Disseminate and share results • Train future STEM practitioners    Idea Research Results Dissemination Traditional  end of academic research impact and researcher role Lens of Research Impact 12 PROVIDing reward and recognition ecosVC Embracing and extended view PROVIDing reward and recognition ecosVC • Respect  the R2I2V PERSONAL CHANGE process •  NO person builds a company alone • Lens of the MARKET as important as Lens of RESEARCH • STEM ventures are not the same as Web 2.0 BUT build for “failing fast” based on business insights • It is not a single event…NO one learned P Chem the first time round! SOLUTIONS TO REAP REWARDS Idea Research Innovation Scalable Venture Commercial Enterprise Acknowledge Aware Accept Act Accomplish Ongoing Education and Training Business Advising Funding ecosVC Centers for Chemical Innovation • The Centers for Chemical Innovation (CCI) Program supports research centers focused on major, long-term fundamental chemical research challenges. CCIs that address these challenges will produce transformative research, lead to innovation, and attract broad scientific and public interest…… CCIs integrate research, innovation, education, and public outreach and include a plan to broaden participation of underrepresented groups.  2011 ecosVC  (www.ecosvc.com) Copyright.  All Rights reserved.  No use without permission ecosVC National Science Foundation • The National Science Foundation (NSF) is an independent federal agency created by Congress in 1950 "to promote the progress of science; to advance the national health, prosperity, and welfare; to secure the national defense…" 2011 ecosVC  (www.ecosvc.com) Copyright.  All Rights reserved.  No use without permission ecosVC Center for Sustainable Materials Chemistry 2011 ecosVC  (www.ecosvc.com) Copyright.  All Rights reserved.  No use without permission ecosVC ecosVC  Transforming the Valley of Death to a Time of Brilliance  Mr. Joseph Steig, Partner  joseph@steig.com •Also: Director of VentureWell, an initiative of the National Collegiate Inventors and Innovators Alliance  •CFO of Long River Ventures Dr. Judith Giordan, Partner judy@jgiordan.com •Also: Senior Advisor to the National Collegiate Inventors and Innovators Alliance  •Managing Director, Intangible Asset Finance for Steel City re ecosVC ecosVC Portfolio Examples • Natural Composites Inc.: university spin-out using natural materials as a petroleum polymer filler and replacement • Qteros: a university spin-out in cellulosic ethanol. • Ecovative Design: university spin-out creating a biodegradable alternative to expanded polystyrene • A privately held oil processing equipment company developing a process for algae oil extraction • A privately held natural composites company creating structural materials in a wide range of sectors • Numerous Fortune 500 companies expanding their portfolios through Open Innovation 2011 ecosVC  (www.ecosvc.com) Copyright.  All Rights reserved.  No use without permission 

GOAL: Sustainable Materials Commercialization and Innovator Preparation

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