hello I am so glad to be here tonight among all of you and especially among my
among all of you and especially among my
among all of you and especially among my fellow speakers who were talking about
fellow speakers who were talking about
fellow speakers who were talking about technology transfer something I’ve been
technology transfer something I’ve been
technology transfer something I’ve been very passionate about for over 20 years
very passionate about for over 20 years
very passionate about for over 20 years now obviously we’ve all been doing this
now obviously we’ve all been doing this
now obviously we’ve all been doing this a long time we just look still so young
a long time we just look still so young
a long time we just look still so young I know but also just the broader the
I know but also just the broader the
I know but also just the broader the broader topic of advancing academic
broader topic of advancing academic
broader topic of advancing academic innovations and I want to talk
innovations and I want to talk
innovations and I want to talk particularly about if I could get my
particularly about if I could get my
particularly about if I could get my slides up that would probably be good
slides up that would probably be good
slides up that would probably be good but I’m going to talk about one
but I’m going to talk about one
but I’m going to talk about one particular point of advancing academic
particular point of advancing academic
particular point of advancing academic innovations and that is traversing the
innovations and that is traversing the
innovations and that is traversing the valley of innovation death or as I call
valley of innovation death or as I call
valley of innovation death or as I call it the void so I call this the void and
it the void so I call this the void and
it the void so I call this the void and it’s also kind of known as the Bermuda
it’s also kind of known as the Bermuda
it’s also kind of known as the Bermuda Triangle of academic innovation so this
Triangle of academic innovation so this
Triangle of academic innovation so this is a traditional representation of the
is a traditional representation of the
is a traditional representation of the void of the value of innovation of death
void of the value of innovation of death
void of the value of innovation of death and that is that academic innovations
and that is that academic innovations
and that is that academic innovations are brought to a certain point in
are brought to a certain point in
are brought to a certain point in academic research and basic research at
academic research and basic research at
academic research and basic research at academic institutions but before
academic institutions but before
academic institutions but before industry is willing to take them on
industry is willing to take them on
industry is willing to take them on they’re usually looking for some other
they’re usually looking for some other
they’re usually looking for some other things to happen with the technology
things to happen with the technology
things to happen with the technology before they’re willing to do so so a lot
before they’re willing to do so so a lot
before they’re willing to do so so a lot of things end up perishing in this void
of things end up perishing in this void
of things end up perishing in this void and a lot of the reasons that these
and a lot of the reasons that these
and a lot of the reasons that these things perish are because of resource
things perish are because of resource
things perish are because of resource constraints that are associated with it
constraints that are associated with it
constraints that are associated with it be it cash Vietnam power and other
be it cash Vietnam power and other
be it cash Vietnam power and other things but what I’m going to talk about
things but what I’m going to talk about
things but what I’m going to talk about tonight are some attributes I see
tonight are some attributes I see
tonight are some attributes I see associated with these technologies that
associated with these technologies that
associated with these technologies that may also make them perish in this void
may also make them perish in this void
may also make them perish in this void so another way to look at it is this all
so another way to look at it is this all
so another way to look at it is this all over the world thousands of academic
over the world thousands of academic
over the world thousands of academic researchers each year are creating
researchers each year are creating
researchers each year are creating innovations now a certain number of
innovations now a certain number of
innovations now a certain number of those are disclosed to the technology
those are disclosed to the technology
those are disclosed to the technology transfer offices through invention
transfer offices through invention
transfer offices through invention disclosures another fraction of those
disclosures another fraction of those
disclosures another fraction of those about 15 to 25 percent of those are
about 15 to 25 percent of those are
about 15 to 25 percent of those are licensed to industry but only a few of
licensed to industry but only a few of
licensed to industry but only a few of those end up making it actually to be
those end up making it actually to be
those end up making it actually to be products that are sold and hope
products that are sold and hope
products that are sold and hope benefiting all of us so why is this so
benefiting all of us so why is this so
benefiting all of us so why is this so important because one of those
important because one of those
important because one of those innovations that’s not making it could
innovations that’s not making it could
innovations that’s not making it could be a cure for pancreatic cancer another
be a cure for pancreatic cancer another
be a cure for pancreatic cancer another one could be as simple as the better
one could be as simple as the better
one could be as simple as the better battery life for your cell phone imagine
battery life for your cell phone imagine
battery life for your cell phone imagine not having to charge your cell phone for
not having to charge your cell phone for
not having to charge your cell phone for a whole month not worrying about it and
a whole month not worrying about it and
a whole month not worrying about it and one of those innovations could be a
one of those innovations could be a
one of those innovations could be a solution to our current dependence on
solution to our current dependence on
solution to our current dependence on fossil fuels so I’m going to talk about
fossil fuels so I’m going to talk about
fossil fuels so I’m going to talk about tonight these attributes that I
tonight these attributes that I
tonight these attributes that I mentioned tonight from my experience at
mentioned tonight from my experience at
mentioned tonight from my experience at Stanford University’s office of
Stanford University’s office of
Stanford University’s office of technology licensing where I was for
technology licensing where I was for
technology licensing where I was for almost 20 years now a lot of people
almost 20 years now a lot of people
almost 20 years now a lot of people think that if you birth a technology at
think that if you birth a technology at
think that if you birth a technology at Stanford basically you haven’t made as
Stanford basically you haven’t made as
Stanford basically you haven’t made as exemplified in this this quote from a
exemplified in this this quote from a
exemplified in this this quote from a recent article that says if a researcher
recent article that says if a researcher
recent article that says if a researcher at Stanford University wants to create a
at Stanford University wants to create a
at Stanford University wants to create a spin-out all he or she needs to do is
spin-out all he or she needs to do is
spin-out all he or she needs to do is print the license scrunch it into a ball
print the license scrunch it into a ball
print the license scrunch it into a ball and check it out the window to the rabid
and check it out the window to the rabid
and check it out the window to the rabid pack of entrepreneurs and venture
pack of entrepreneurs and venture
pack of entrepreneurs and venture capitalists waiting below
capitalists waiting below
capitalists waiting below if only my job had been that easy it
if only my job had been that easy it
if only my job had been that easy it would have been so simple but believe me
would have been so simple but believe me
would have been so simple but believe me there was no rabid pack of entrepreneurs
there was no rabid pack of entrepreneurs
there was no rabid pack of entrepreneurs and venture capitalists waiting below my
and venture capitalists waiting below my
and venture capitalists waiting below my window a lot of technologies that
window a lot of technologies that
window a lot of technologies that Stanford struggled just like they do in
Stanford struggled just like they do in
Stanford struggled just like they do in other places in order to make it out of
other places in order to make it out of
other places in order to make it out of the void and into actual industry and
the void and into actual industry and
the void and into actual industry and then into commercial products and so I’m
then into commercial products and so I’m
then into commercial products and so I’m gonna talk about this the void and some
gonna talk about this the void and some
gonna talk about this the void and some attributes I saw in the void at Stanford
attributes I saw in the void at Stanford
attributes I saw in the void at Stanford particularly with regards to startups
particularly with regards to startups
particularly with regards to startups which are often a mechanism for making
which are often a mechanism for making
which are often a mechanism for making it out of the void so I’m going to give
it out of the void so I’m going to give
it out of the void so I’m going to give two examples and these are made up of
two examples and these are made up of
two examples and these are made up of different things I saw while I was at
different things I saw while I was at
different things I saw while I was at Stanford University so this is the first
Stanford University so this is the first
Stanford University so this is the first example and this it’s a dimension
example and this it’s a dimension
example and this it’s a dimension discovered from the laboratory of
discovered from the laboratory of
discovered from the laboratory of Professor close so professor close and
Professor close so professor close and
Professor close so professor close and some of the researchers are her
some of the researchers are her
some of the researchers are her laboratory find a really interesting
laboratory find a really interesting
laboratory find a really interesting innovation and they disclose it to the
innovation and they disclose it to the
innovation and they disclose it to the technology transfer office I read it
technology transfer office I read it
technology transfer office I read it over I’m really excited about this so I
over I’m really excited about this so I
over I’m really excited about this so I set up a meeting with them and we meet
set up a meeting with them and we meet
set up a meeting with them and we meet at the end of the meeting I’m even more
at the end of the meeting I’m even more
at the end of the meeting I’m even more excited about this particular innovation
excited about this particular innovation
excited about this particular innovation it’s a promising cancer therapeutic and
it’s a promising cancer therapeutic and
it’s a promising cancer therapeutic and I think wow this could really go
I think wow this could really go
I think wow this could really go somewhere
somewhere
somewhere at the end of the at the very end of the
at the end of the at the very end of the
at the end of the at the very end of the meeting professor close to ask the other
meeting professor close to ask the other
meeting professor close to ask the other researchers to leave and to her me to
researchers to leave and to her me to
researchers to leave and to her me to stay behind she closes the door and says
stay behind she closes the door and says
stay behind she closes the door and says I want to do a start-up around this
I want to do a start-up around this
I want to do a start-up around this technology not only that but I don’t
technology not only that but I don’t
technology not only that but I don’t want you to talk about the technology
want you to talk about the technology
want you to talk about the technology with anyone else I I really just want to
with anyone else I I really just want to
with anyone else I I really just want to take this myself
take this myself
take this myself I want to keep this secret for now and I
I want to keep this secret for now and I
I want to keep this secret for now and I want to take this for it and so now I’m
want to take this for it and so now I’m
want to take this for it and so now I’m starting to have some concerns she’s
starting to have some concerns she’s
starting to have some concerns she’s never done a start-up before and so I
never done a start-up before and so I
never done a start-up before and so I offer to introduce her to some different
offer to introduce her to some different
offer to introduce her to some different people around campus that potentially
people around campus that potentially
people around campus that potentially could help her with this there are
could help her with this there are
could help her with this there are different programs around campus that
different programs around campus that
different programs around campus that could help her she could meet advisers
could help her she could meet advisers
could help her she could meet advisers and potentially network to meet some
and potentially network to meet some
and potentially network to meet some individuals that will give her some
individuals that will give her some
individuals that will give her some advice about what to do she accepts some
advice about what to do she accepts some
advice about what to do she accepts some of the meetings but she doesn’t get much
of the meetings but she doesn’t get much
of the meetings but she doesn’t get much out of them because she’s not willing to
out of them because she’s not willing to
out of them because she’s not willing to talk much about what it is that she’s
talk much about what it is that she’s
talk much about what it is that she’s done she decides to go and hit to start
done she decides to go and hit to start
done she decides to go and hit to start pitching to entrepreneurs to start to
pitching to entrepreneurs to start to
pitching to entrepreneurs to start to different investors for to get capital
different investors for to get capital
different investors for to get capital for her venture but here she’s also she
for her venture but here she’s also she
for her venture but here she’s also she runs into some roadblocks because she
runs into some roadblocks because she
runs into some roadblocks because she wants them to sign confidentiality
wants them to sign confidentiality
wants them to sign confidentiality agreements again because she’s very
agreements again because she’s very
agreements again because she’s very being very secretive about what the
being very secretive about what the
being very secretive about what the invention is and investors are sometimes
invention is and investors are sometimes
invention is and investors are sometimes very reluctant to sign confidentiality
very reluctant to sign confidentiality
very reluctant to sign confidentiality agreements without knowing much about
agreements without knowing much about
agreements without knowing much about the invention and how it might interfere
the invention and how it might interfere
the invention and how it might interfere with other things that they’re looking
with other things that they’re looking
with other things that they’re looking at and so as often happens in this
at and so as often happens in this
at and so as often happens in this situations she gets frustrated and
situations she gets frustrated and
situations she gets frustrated and nothing ends up happening with the
nothing ends up happening with the
nothing ends up happening with the technology and with the startup and the
technology and with the startup and the
technology and with the startup and the innovation dies in this valley of
innovation dies in this valley of
innovation dies in this valley of innovation death so he now has a
innovation death so he now has a
innovation death so he now has a different story and that’s the story of
different story and that’s the story of
different story and that’s the story of Professor possibility in a recent and
Professor possibility in a recent and
Professor possibility in a recent and very similar situation where there is a
very similar situation where there is a
very similar situation where there is a technology that she and some of the
technology that she and some of the
technology that she and some of the graduates researchers in her lab
graduates researchers in her lab
graduates researchers in her lab discover I submit an invention
discover I submit an invention
discover I submit an invention disclosure tour office I read it over
disclosure tour office I read it over
disclosure tour office I read it over and once again I’m like yes this is
and once again I’m like yes this is
and once again I’m like yes this is something that’s really promising and I
something that’s really promising and I
something that’s really promising and I go and meet with them and I say I love
go and meet with them and I say I love
go and meet with them and I say I love this and and I learn about it and they
this and and I learn about it and they
this and and I learn about it and they say to me we want to start a company we
say to me we want to start a company we
say to me we want to start a company we want to start a company together around
want to start a company together around
want to start a company together around this technology not only that but we
this technology not only that but we
this technology not only that but we actually know someone who we think
actually know someone who we think
actually know someone who we think actually could help us with this as if
actually could help us with this as if
actually could help us with this as if a student from the lab who’s actually
a student from the lab who’s actually
a student from the lab who’s actually already gone on to a startup and knows a
already gone on to a startup and knows a
already gone on to a startup and knows a little bit about the field I offer again
little bit about the field I offer again
little bit about the field I offer again to introduce them to different resources
to introduce them to different resources
to introduce them to different resources around campus different advisors who
around campus different advisors who
around campus different advisors who potentially could help them with this
potentially could help them with this
potentially could help them with this they take those meetings and through
they take those meetings and through
they take those meetings and through those meetings they actually meet some
those meetings they actually meet some
those meetings they actually meet some potential funders so now they’re
potential funders so now they’re
potential funders so now they’re traveling down this road and they’re
traveling down this road and they’re
traveling down this road and they’re getting a lot of go signals they have a
getting a lot of go signals they have a
getting a lot of go signals they have a potential funder they’ve talked with
potential funder they’ve talked with
potential funder they’ve talked with this person at the company they’ve
this person at the company they’ve
this person at the company they’ve agreed to come as an intern CEO so they
agreed to come as an intern CEO so they
agreed to come as an intern CEO so they actually are looking like they might
actually are looking like they might
actually are looking like they might make it through this valley of
make it through this valley of
make it through this valley of innovation death but I don’t want to
innovation death but I don’t want to
innovation death but I don’t want to make it seem too rosy because even if
make it seem too rosy because even if
make it seem too rosy because even if something ends up making it out of the
something ends up making it out of the
something ends up making it out of the value of an of innovation death and into
value of an of innovation death and into
value of an of innovation death and into industry it doesn’t necessarily mean
industry it doesn’t necessarily mean
industry it doesn’t necessarily mean something is going to end up happening
something is going to end up happening
something is going to end up happening with it and being a product that
with it and being a product that
with it and being a product that benefits you and me but there’s a
benefits you and me but there’s a
benefits you and me but there’s a possibility that it will and that’s what
possibility that it will and that’s what
possibility that it will and that’s what you and I and all the investors and the
you and I and all the investors and the
you and I and all the investors and the world are counting on is that some of
world are counting on is that some of
world are counting on is that some of those are going to make it so I’ve given
those are going to make it so I’ve given
those are going to make it so I’ve given two stories here and I’ve given you some
two stories here and I’ve given you some
two stories here and I’ve given you some examples about what I think sometimes
examples about what I think sometimes
examples about what I think sometimes are the attributes that help these
are the attributes that help these
are the attributes that help these innovations through the valley of death
innovations through the valley of death
innovations through the valley of death valley of innovation death so one is
valley of innovation death so one is
valley of innovation death so one is obviously putting aside your paranoia
obviously putting aside your paranoia
obviously putting aside your paranoia and this can be very hard for
and this can be very hard for
and this can be very hard for researchers they want to keep things in
researchers they want to keep things in
researchers they want to keep things in because they don’t want something to
because they don’t want something to
because they don’t want something to steal their idea so that is very
steal their idea so that is very
steal their idea so that is very understandable but there has to be a
understandable but there has to be a
understandable but there has to be a certain amount of sharing that happens
certain amount of sharing that happens
certain amount of sharing that happens particularly after a patent application
particularly after a patent application
particularly after a patent application is filed and some of the protections are
is filed and some of the protections are
is filed and some of the protections are around the intellectual property that
around the intellectual property that
around the intellectual property that they’ve created at the university and so
they’ve created at the university and so
they’ve created at the university and so a part of a putting aside your paranoia
a part of a putting aside your paranoia
a part of a putting aside your paranoia is admitting that you need help
is admitting that you need help
is admitting that you need help academic researchers in general are
academic researchers in general are
academic researchers in general are wonderful at academic research but it
wonderful at academic research but it
wonderful at academic research but it doesn’t necessarily mean that they’re
doesn’t necessarily mean that they’re
doesn’t necessarily mean that they’re great at other things that are
great at other things that are
great at other things that are associated with getting the technology
associated with getting the technology
associated with getting the technology out of the void and that goes for
out of the void and that goes for
out of the void and that goes for fundraising being ceos of startup
fundraising being ceos of startup
fundraising being ceos of startup companies or other things that are
companies or other things that are
companies or other things that are associated with getting out at the void
associated with getting out at the void
associated with getting out at the void so admitting you need help and off your
so admitting you need help and off your
so admitting you need help and off your go getting going to get that help from
go getting going to get that help from
go getting going to get that help from your networks and relationships so
your networks and relationships so
your networks and relationships so another thing that you need to do
another thing that you need to do
another thing that you need to do as getting things out of the void is
as getting things out of the void is
as getting things out of the void is build your networks and relationships
build your networks and relationships
build your networks and relationships and that’s from the start of the in
and that’s from the start of the in
and that’s from the start of the in finding the innovation to doing take
finding the innovation to doing take
finding the innovation to doing take your technology to develop development
your technology to develop development
your technology to develop development building your business planned around
building your business planned around
building your business planned around getting the technology developed to
getting the technology developed to
getting the technology developed to pitching that to other other people and
pitching that to other other people and
pitching that to other other people and building those networks and
building those networks and
building those networks and relationships is often associated with
relationships is often associated with
relationships is often associated with your having a really good team around
your having a really good team around
your having a really good team around you this was talked about earlier as
you this was talked about earlier as
you this was talked about earlier as well your team is critical for these
well your team is critical for these
well your team is critical for these technologies to make it out of the void
technologies to make it out of the void
technologies to make it out of the void there was a recent survey that was done
there was a recent survey that was done
there was a recent survey that was done of hundreds of venture capitalists that
of hundreds of venture capitalists that
of hundreds of venture capitalists that talked about that asked the venture
talked about that asked the venture
talked about that asked the venture capitalist about what were the most
capitalist about what were the most
capitalist about what were the most important things that were associated
important things that were associated
important things that were associated with your successful investments and as
with your successful investments and as
with your successful investments and as you can see from this slide the most
you can see from this slide the most
you can see from this slide the most important thing associated with their
important thing associated with their
important thing associated with their successful investments were the team
successful investments were the team
successful investments were the team associated with that investment it was
associated with that investment it was
associated with that investment it was also the most important factor for their
also the most important factor for their
also the most important factor for their failed investments so having a good team
failed investments so having a good team
failed investments so having a good team around your technology is critical for
around your technology is critical for
around your technology is critical for it actually making it to success and
it actually making it to success and
it actually making it to success and again one of the things that can help
again one of the things that can help
again one of the things that can help these technologies get out of the void
these technologies get out of the void
these technologies get out of the void is obviously funds and programs the cash
is obviously funds and programs the cash
is obviously funds and programs the cash and the resources that we talked about
and the resources that we talked about
and the resources that we talked about earlier to get them out of the void and
earlier to get them out of the void and
earlier to get them out of the void and these are just some of the examples but
these are just some of the examples but
these are just some of the examples but there are hundreds around the of these
there are hundreds around the of these
there are hundreds around the of these around the United States of these
around the United States of these
around the United States of these programs that are allowing these
programs that are allowing these
programs that are allowing these technologies also to make it through the
technologies also to make it through the
technologies also to make it through the void so why is this so important again
void so why is this so important again
void so why is this so important again because there are hundreds examples of
because there are hundreds examples of
because there are hundreds examples of technologies and spinouts from
technologies and spinouts from
technologies and spinouts from universities and these are just some of
universities and these are just some of
universities and these are just some of them that you know of that are helping
them that you know of that are helping
them that you know of that are helping our society today but if you think about
our society today but if you think about
our society today but if you think about that first slide this first couple of
that first slide this first couple of
that first slide this first couple of slides where I show you the number of
slides where I show you the number of
slides where I show you the number of innovations that are happening at
innovations that are happening at
innovations that are happening at universities and that are not making it
universities and that are not making it
universities and that are not making it through that’s what’s really critical is
through that’s what’s really critical is
through that’s what’s really critical is that there are a bunch of these that
that there are a bunch of these that
that there are a bunch of these that aren’t making it that could be those
aren’t making it that could be those
aren’t making it that could be those things that are helping us so I hope
things that are helping us so I hope
things that are helping us so I hope I’ve given you some ideas that we can
I’ve given you some ideas that we can
I’ve given you some ideas that we can actually help make this void a fertile
actually help make this void a fertile
actually help make this void a fertile Oasis
Oasis
Oasis and I think that there are things that
and I think that there are things that
and I think that there are things that all of us can potentially do to help
all of us can potentially do to help
all of us can potentially do to help that happen be it from making
that happen be it from making
that happen be it from making introductions helping people overcome
introductions helping people overcome
introductions helping people overcome their paranoia knowing successful
their paranoia knowing successful
their paranoia knowing successful startup stories that can help provide
startup stories that can help provide
startup stories that can help provide examples for people to make it and
examples for people to make it and
examples for people to make it and understand how they could take their
understand how they could take their
understand how they could take their technologies through the void and I
technologies through the void and I
technologies through the void and I think this is so important because we
think this is so important because we
think this is so important because we are facing a lot of critical issues in
are facing a lot of critical issues in
are facing a lot of critical issues in the world today and these innovations
the world today and these innovations
the world today and these innovations are potential answers to all of those
are potential answers to all of those
are potential answers to all of those thank you very much
thank you very much
thank you very much [Applause]
[Applause]
[Applause] [Music]
”
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