Creating a Better Tomorrow
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CREATINGA BETTER TOMORROW
CREATINGA BETTER TOMORROW
Jane MuirUniversity of Florida
Improving the Human Condition
Shortening the journey from discovery to market for
Florida’s tech start-up companies
National Business Incubator Statistics
According to a recent NBIA survey:
• Companies that got their start in an incubator and
graduated – five years after graduation, 87% were
still thriving
• Companies that get their start in an incubator – 78%
stay in the community where they were incubated
• Incubators are a key component to creating startups
in a community
Critical Components for Creating Companies
Facilities – Incubators provide a space for companies to start and a venue to foster connections among critical components
Technology – Most abundant resource
Entrepreneurs – Least abundant resource
Funding – Follows opportunity appropriately matched with an experienced entrepreneur
UF Patents & Licensing
Research Awards
Invention Disclosures
Patent Applications
Licenses/ Options
Executed
2011/12 $644M 319 266 79
2010/11 619 298 145 78
2009/10 678 279 120 67
2008/09 574 271 151 72
2007/08 562 299 167 75
2006/07 583 327 156 74
2005/06 519 260 115 73
2004/05 494 274 133 66
2003/04 475 280 121 64
2002/03 458 264 127 52
2001/02 428 196 86 59
2000/01 380 204 64 37
1999/00 295 166 43 28
1998/99 280 136 47 10
Bridging the Technology GapBridging the Technology Gap
Start-ups are often the most appropriate (only) vehicle to bridge the technology gap
Innovation R&D Hotbeds
MIT, Caltech –And the Gators?How the University of Florida moved to theMajor league of technology startups
BusinessWeek - May 21, 2007
Shared FacilitiesAccess to shared office equipment and amenities, including conferencing facilities and a lobby receptionist.
All-Inclusive LeasesShort-term, leases that minimize financial commitment and include maintenance, common areas, property tax, utilities and high-speed internet service.
Modern LaboratoriesModern laboratories with access to biological safety cabinets, fume hoods, DI water, vacuum, autoclave and more.
Room For ExpansionOur flexible and scalable office areas grow alongside your business.
InformationAccess to the vast resources of scientific and business information located within the UF library system.
High-Speed DataEconomical, flat-rate options for phone, data lines, and video conferencing capabilities.
Weekly SeminarsWeekly seminars and events provide training and networking opportunities
50 Events in 50 Weeks
Empowering WOMEN IN TECHNOLOGY STARTUPS (eWITS)
Create virtual teams
Pair teams with patented technology
Provide entrepreneurial training
Launch real companies www.ewits.org
Unique Aspects
Office of Technology Licensing is a Tenant Source of innovation for starting companies Average more than dozen startups per year Drives traffic and creates collision
Resident Partners Service Providers and Venture Capitalists Pay rent and provide pro bono advice
Resident Partners
MPM Capital Saliwanchik, Lloyd &
Eisenschenk Synogen Wolf Greenfield Edwards Wildman Harbert Venture
Partners Hutchison Law Group James Moore & Co
Unique Aspects
The Hatchery Program created for individuals aspiring to start a company 3 month program = $400 Access to Mentor in Residence Training & networking events
Close to UF and Downtown• Home to 4,000 faculty • 50,000 talented students, $600 million in research average 300 new discoveries annually
First building in Innovation Square – 24/7 Live Work Play environment
Innovation Square Attracting Corporations
MindTree Limited is a global IT and product-engineering services company with over 11,000 MindTree Minds around the world.
Established US Development Corporation in the Innovation Hub April 2012- recently moved into renovated building- 65 employees; projected 400
Conversations with a number of other major companies
- ability to start immediately is appealing
Metrics to Date(Oct. 2011 – Feb. 2013 - 16 months)
26 companies currently in the building
8 graduates > 200 jobs created >$7 million in private
investment
It’s Working as Planned
• Shadow Health - one of first tenants to graduate in July; moved to 6,000 square feet of space in a vacant building downtown
• Two rounds of financing totaling > $1 million; hired 24 new employees, launched its signature product — interactive software that uses a virtual patient to teach students in the health care fields effective communication and assessment skills.
Entrepreneurs Play Important Role
• 99.7% of companies in Florida have fewer than 100 employees
• Those same companies provide 82.4% of all jobs in the state
• 62.9% of Florida businesses employ between 2 and 9 people Source: Florida Trend January 2011
Creative Class Coming to Florida
Richard Florida:Gainesville leads the nation in projected percentage growth of creative-class jobs
Conclusion Commercializing research discoveries to make the
world a better place Creating companies that create jobs Bringing private investment to community Generating licensing revenues to fund more
research Enabling university to attract and retain top
talent faculty
CREATINGA BETTER TOMORROW
CREATINGA BETTER TOMORROW
Jane MuirUniversity of Florida
jmuir#@ufl.edu
www.floridainnovationhub.ufl.edu
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