Commercialisationat Curtin

September 2007

Policy andProcess

Curtin IP Policy

• Find it on the web:

– Research & Development– IP & Commercialisation

– “IP Ownership Policy” Link

– Ownership of Intellectual Property

• Review Process underway– No substantive changes– Clarifications

Actively supports commercialisation

StaffKey Elements

• IP developed by staff:– Generally owned by Curtin

• Including Course Material and Computer Works

– Copyright in scholarly works owned by the creator• E.g. Publications; books• Provision for licence back to Curtin

• Possible Exceptions:– Developed prior to joining Curtin

– Outside normal scope of duties

Students

Key Elements

• IP developed by students:– Owned by students

Exceptions:– Part of Project

• Need for Student Agreements – need for informed decision• Treated as staff member

– Significant contribution by Curtin – excludes scholarships

– Unusual level of Supervisor involvement

– Use of Curtin Background IP

Sharing Returns

• Current Practice at Curtin: – 50% of Net Proceeds from the “Base IP” returned to

Inventors– Most common practice in universities: 33% – Returns due to Curtin’s cash investment not included

• University Share: – 70% of Curtin’s Base IP share allocated to

Division/School/etc– Of this, 30% usually allocated to Division– Agreement needed by all parties on this split

The Process: key elements

Step 1:

Identification and New Enquiry Summary

– Self screening: has it got commercial potential– Provide the information needed for assessment. :

• Business opportunity?• Value Proposition?• Target Market?• Competitive landscape/advantage?• Scientific standing (lit review)?

– Flesh out at meeting

Overarching thought: this is a partnership

We all add value in our areas of expertise

The Process: key elementsStep 2:

Preliminary Assessment – First draft of Opportunity Overview

• IP landscape? Novelty (prior art) search?• Drill down on market/value proposition/competitive

advantage

This is a collaborative exercise

No red flags?

Submit formal Disclosure Form

The Process: key elements

Step 3:Strategy Development

– “Enhance” Opportunity Overview (a living document)– Draw on this to consider:

• Market entry strategy• Revenue model• Development plan• Funding strategy• Expansion strategy• Exit Strategy

Commercialisation Strategy

The Process: key elementsStep 4:Implementation

– CAG endorsement– Secure pre-seed funding

• Curtin Pre-Seed Fund• Private investors/industry• COMET or other grant?

– Identify interim management– Business plan– Meet milestones

Secure resources to execute Business Plan

The Process: key elements

Step 5:Mentor~Manage~Monitor • Curtin’s and Inventors’ Interests

– Negotiate agreements which• Secure rights• Minimise risks• Optimise returns• Provide representation and information• Monitor performance

Another overarching thought…..

This process is non-linear!!

• Several iterations

• Opportunity Overview a living document

– progressively evolves

• CAG interactions

• Investment Committee interactions

Commercialisation Process

Mentor ManageMonitor

Secure rightsfor Curtin

Board Rep.

Etc.

Implement

OpportunityOverview

CAGApproval

Pre-SeedFund

Form Company?

COMET Grant?

Meet Milestones

Business Plan

External Capital

Iterate!

Assess in Detail

IP/FTO

Market Strategy

Development Plan

Competitive Analysis

Revenue Model

Exit Strategy

Comm’n Strategy

Fund?

Pre-Qualify

Breakthrough?

Customers?

Market?

Value Proposition?

Barriers?

Identify

Team

Technology

ReapRewardsRoyalties?Exit?

And Then?

• Change career

• Sell up

• Retire to the Bahamas!!!