Post on 21-Mar-2018
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Sujit DeyProfessor, ECE DepartmentDirector, Institute for the Global EntrepreneurDirector, Center for Wireless Communicationsdey@ece.ucsd.edu
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Next Generation Technology Leaders
Start‐ups with Core InnovationEducation
Joint Education: Jacobs and RadyEngineering Leadership, Project Management &
Entrerpreneurism Courses
EducationJoint Education: Jacobs and Rady
Engineering Leadership, Project Management & Entrerpreneurism Courses
Training: NSF I‐Corps (market discovery) Hack4Defense (solving real national security problems)
Training: NSF I‐Corps (market discovery) Hack4Defense (solving real national security problems)
Global TrainingGlobal Training
AcceleratorsAccelerators
• Train influential technology leaders who will drive innovation from concept to commercialization using principles of engineering, business, and practical entrepreneurial thinking
• Provide comprehensive and customized pathways from labs to market• Enable enhanced industry partnerships by facilitating market‐driven research and PoC
Industry Partners
Strategic Investment Partners
Incubators
External Resources
Agile Research Centers
Mentors
EIRs
Internal Resources Industry Collaborations with Impact
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Builds on 16‐Year Track Record of Fostering Entrepreneurism andDiscovery Translation at UC San Diego 100 Teams Trained through NSF I‐Corps
Thousands of students attending graduate courses in leadership and entrepreneurism
80 companies launched
5 large acquisitions
34 active companies
500 jobs created
$220M invested in portfolio companies
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Technology Management and Entrepreneurism Fellowshipfor Engineering Graduate Students
Joint program ‐ Jacobs School and Rady SchoolStarted in Spring 2016 with 35 Graduate Students
(M.S., M.A.S., Ph.D. from all engineering departments)
Spring 2016
Customer-focused Value Creation(for Engineers)
Spring 2017
Lab to Market Workshop(Engineers + Rady MBAs)
Winter 2017
Lab to Market Workshop(Engineers + Rady MBAs)
Fall 2016
Operations Management(for Engineers)
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
8 SessionsFocus on Customer Interviews and Refining Presentations
I‐Corps Phase I
• Business Model Canvas• Value Propositions• Customer Segments• Product‐Market Fit• Elevator Pitch
• Competitive Matrix• Revenue Streams• Cost Structures• Potential Partners
Results:‐ Business Model Creation
‐ Customer Validation‐ Team Formation
4 SessionsFocus on Developing a “Pitch Deck” & Enhancing Presentation Skills
I‐Corps Phase II
• Problem Identification• Product Differentiation• Go to Market Plan• Cap Table• Team Formation
• Financing, Projections & Pro Formas
• Key Milestones• Fundraising• Exit Strategies
Results:‐ Commercialization Roadmap‐ Investor “Pitch Deck”
‐ Viable Business Model with Evidence
3 MonthsFocus on Facilitating Business Team Formation, Company Formation
& Next Steps for Go‐To‐Market strategy
von Liebig Technology Accelerator
• Individualized mentoring and coaching
• Identifying milestones and deliverables
• Business plan• Financial Model• Go‐to‐Market strategy
Results:‐ Defined goals/milestones for Go‐to‐Market strategy
‐ Go/No‐Go decision
6 MonthsFocus on Customer Discovery and Project Validation
I‐Corps Teams (National)
Results:‐ Business Model
‐ Go/No‐Go decision‐ $50,000 NSF Grant
• Value Proposition• Customer use case• Demand Creation
• Channel Development• Revenue Model• Partnership Strategy
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
NSF I‐Corps Program Significant Outcomes Over 2,780 total interviews 9 teams participated in NSF National Program, 2 in process 44 teams with prototypes 17 teams have launched companies 19 teams have filed patents and 19 teams are planning to file patents 26 teams have other types of IP (Trademark, Trade Secret, Software) 20 teams have created websites $2,450,000+ raised plus $450,000 from NSF national program. 18 teams applying for SBIRs
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Hacking 4 Defense CourseSolving National Security Issues through Lean Launchpad Methodology
Student Teams of at Least Four Graduate Students (All Majors)
Problem Sponsors Propose Challenge and Provide Mentor for Students
Students Propose Solution, Conduct Customer Interviews, Build Iterative Prototypes
Industry Sponsors provide funding, mentors
UC San Diego Launches Pilot in Fall 2016 and Full Course Winter 2017
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Path to Market
Commercialization Assessment• Students• Faculty•Alumni•Global Teams
Business Plan Development
Company Formation
Access to Capital
Team Formation‐ I‐Corps, Hack4Defense, Lab‐to‐Market‐ Gordon Leadership Workshops
‐ Entrepreneur Showcase
‐ Triton Fund‐ Rady Fund‐ Strategic Funds
‐ EIR Coaching/Mentoring
Triton Technology Fund$12M Professionally‐Managed Venture Fund Dedicated to Investing in UC San Diego‐Affiliated Early‐Stage Companies
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
• A gap exists between education/training programs and ability to form fundable start‐ups with customer traction
• Many industry engagements fall short of potential impact for lack of ways to validate and translate inventions
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Edge Device:• Performs on‐line learning,
predictive and prescriptive analytics
• Sends only performance‐related, anonymized data to the cloud
Cloud:• Learns from performance of
gateways globally to enhance prescriptive analytics models and recommendation policies
• Sends updated models and policies to gateways
Uplink data
Downlink data
• Significantly reduces data transmission and cloud processing• Personalized contextual learning and recommendations• Real‐time, interactive (Faster Feedback)• Ensures patient data privacy
Hybrid Edge Analytics for Personalized Connected Virtual Care
• Need for live PoC to demonstrate benefits for patients• Need to go beyond lab research and understand patient
requirements, best interaction/recommendation mechansims• Need to understand and integrate with evolving eco‐systems • Need to understand desired cost/functionality/privacy trade‐offs
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Assisted Living
SmartTransport
Adaptive Energy Systems
Connected Personalized Medicine
Embodied Cognitive Systems
Market‐Ready Prototype, Customer/Industry Validation, Business Creation
Technology Accelerator for the Digital Future
Technology Drivers for the Digital Future
Data Stream Analytics
Actions and Agents
New Data
Streams
Research, Development andCommercialization (RD&C)
12 4 November 2016
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Technology Accelerator for the Digital FutureResearch and Development Focused on Commercialization Path
FujiwaraAward
Market‐Ready Prototype Research Plan Market Requirements
Customer Validation Value Proposition, Business Plan
Business Mentor/EIR Industry Sponsor Collaborator Faculty and Student Inventors
VC‐funded Startup(Path to Market
Program, Technology Showcase)
License toIndustry Sponsor
Industry‐SponsoredResearch Centers
I‐Corps Teams
Lab to MarketTeams
CustomerAcquisition
Digital Future Verticals
RESOURCES PEOPLE
Proof of Concept Funds (approx. $50K)University and Partner Prototyping Labs
Business Advisor LeadRady MBAs
Faculty Entrepreneur AdvisorProduct Development AdvisorTechnology Transfer LeadPreferred Service Providers
Outcomes: UCSD Disclosure, IP Agreements, Company Formation, Business Plan, Market‐Ready Prototype, Investor Pitch Deck
SUCCESSFUL EXITAcquisition by Corporate Sponsor, Major Customer for Product, and/or$250K+ from an External Investor
Technology Accelerator for the Digital Future5 Projects Per Year, Each Receives 12 Months of Services
Financial Sustainability Model
SEED: $1 Million Benbough Foundation
$300K UC Office of President (Year 1, with possibility of additional 2 years funding)
POSSIBLE ADDITIONAL REVENUE SOURCES:
Annual $50,000 (25Kx2)$25K Payback from Each Successful Exit$80,000 (20Kx4) $20K Annual Membership Dues from affiliated Venture Funds$50,000 Triton Fund Service Agreement$100,000 Industry‐Sponsored Projects (At least one project in accelerator
to be an industry‐funded RD&C project)
Special Federal Supplemental GrantsFoundation/Federal Technology Accelerator Grants
Endowment Endowment Fund ongoing giving opportunity to fund
Annual Expenditure: $375,000
• $10,000: Business Mentor • $5,000: Rady MBA• $50,000: POC Funds/Prototyping Lab• $10,000: Administration
• Assuming Service Providers are Providing Pro Bono
• $75,000 Total Cost Per Project
• $375,000 To Accelerate 5 Projects Per Year
Previous Model New Model
External, for profit Internal, Non‐Profit
Three Limited Partners and Fund Manager Leverage Multiple Funding Sources: government, industry, donors, foundations, venture stakeholders
Capped at $3 Million Unlimited Growth Potential
8 Years to Liquidation Evergreen, endowment opportunity
Opportunistic Investment Strategy Projects tightly mapped to Jacobs School Research Vision
Depends on Quick Acquisition for Success Grooming for Various Exit Scenarios
Takes Major Equity in Company No Equity
Differences between Previous Model and New Model
Common Vision for Both Models
• Serves UC San Diego Inventors (Faculty, Students, Researchers)
• Harnesses Creative Force of UC San Diego for Public Good and Economic Development
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Entrepreneur’s ShowcaseFour Sessions, 20 Teams Per Year
Pre‐Vetted Entrepreneurial Teams Pitch Technology Company 20 Minute Presentation 20 Minute Q/A 10 Minute Feedback Written Critique
Audience: VCs, Angels, Faculty, Industry, Subject Matter Experts
ResultsAction Items to Enhance Value PropositionPrepared to Present to Potential Investors, Including Triton Fund
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
International Training ProgramsEmpowering the Next Generation of Engineering Leaders to Drive Innovation
FujiwaraAward
Introduction to Commercialization Skillsand US Markets.
1‐2 Weeks 10 Participants Classroom: customer
discovery to business planning
Visit San Diego companies
For Corporate Engineers who want to increase innovation skills and learn how to bring a research project to market.
3‐6 months at UC San Diego
Individual business advisor Milestone‐based coaching Commercialization training
For Start‐up Teams who are preparing to seek customer interest and venture investment in company.
3‐6 months Domain‐specific business
advisor Commercialization
milestones Connections to industry
and investment eco‐system
Innovation Workshop Visiting Entrepreneurial FellowBusiness Accelerator (Path to Market)
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Global Training Partnerships
Objectives:
• Transfer commercialization skills to industry and global partners.
• Turn research into products that benefit society (Lab to Market).
• Create jobs to improve local and global economy.
• Expand global opportunities for UC San Diego.
Program Description: • Practice customer discovery and visit local companies. • Meet startup entrepreneurs and do human‐centered design exercises.• Work with mentors on value proposition, marketing, finance and
intellectual property (IP) protection. • Present pitch decks to investors.
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Success Stories from Global Partners
“The key point I learned from the program at UCSD was that I should validate if my hypothesis is true by going out of the laboratory and meeting industry people to find their pain, the real problem that they have.” From his interviews with Toyota and Mazda, Dr. Hisatake of Osaka University received a $1 million grant for his research on electromagnetic waves.
Partners Topics AttendeesConnect Bogota‐Colombia Lab to Market, Business Model 62Cubic Corporation Brainstorming, Strategic Focus 50Osaka University‐Japan Customer Discovery, Product Design 50KIAT‐Korea Technology Assessment Workshop 47The Biomimicry Institute Value Proposition, Market Sizing 36GSRAC‐Korea Assessment of Stem Cell Technologies 33CAF LADB‐Latin America Feasibility of Technology Incubator 19UANDES‐Chile Commercialization in Life Sciences 18UNITEC‐Honduras Pitch Deck, Marketing, Finance, IP 15Sanofi Corporation Technology Assessment Reports 9
Totals 339
JACOBS SCHOOL OF ENGINEERINGRADY SCHOOL OF MANAGEMENT
Partnerships and Global Initiatives