2014 UEDA Awards of Excellence Wiley Larsen “How to get use-inspired research out of the lab and into the hands of entrepreneurs” The ASU Furnace case study UEDA Theme: Innovation and Entrepreneurship entrepreneurship.asu.edu
UEDA Annual Summit 2014 - Awards of Excellence - Innovation and Entrepreneurship - Furnace Technology Transfer Accelerator
Jun 19, 2015
The Furnace Technology Transfer Accelerator, developed by Arizona State University (ASU), is an innovative startup accelerator designed to form, incubate and launch new companies. It is the world’s first technology transfer accelerator, aimed to help the commercialization challenge for research institutions.
Teams compete for the opportunity to license and commercialize technologies, and selected teams participate in an intensive, nine-month accelerator experience that provides seed funding, office space, and access to top industry mentors. Furnace gives entrepreneurs the opportunity to partner with researchers to form high-potential startup companies. Potential participants must go through a competitive application process in which they select a technology available for license, form a team and create a business proposal for a new company. Companies can be formed around one or more technologies from a single research institution or from several institutions. The hundreds of discoveries available for license include medical devices, diagnostic tools, education technology, advanced materials and security devices, among others.
The Furnace methodology is designed to be a flexible system to drive technology transfer. The objective is to actively ‘push’ intellectual property out of research institutions and into the marketplace. It can be set-up to create new startups or it could be used to licensing to large, medium or small existing companies.
To view the full case study, go to: http://universityeda.org/value-to-members/best-practice-sharing/awards-of-excellence/2014-awards-of-excellence/awards-of-excellence-2014-finalists/furnace-technology-transfer-accelerator/
Teams compete for the opportunity to license and commercialize technologies, and selected teams participate in an intensive, nine-month accelerator experience that provides seed funding, office space, and access to top industry mentors. Furnace gives entrepreneurs the opportunity to partner with researchers to form high-potential startup companies. Potential participants must go through a competitive application process in which they select a technology available for license, form a team and create a business proposal for a new company. Companies can be formed around one or more technologies from a single research institution or from several institutions. The hundreds of discoveries available for license include medical devices, diagnostic tools, education technology, advanced materials and security devices, among others.
The Furnace methodology is designed to be a flexible system to drive technology transfer. The objective is to actively ‘push’ intellectual property out of research institutions and into the marketplace. It can be set-up to create new startups or it could be used to licensing to large, medium or small existing companies.
To view the full case study, go to: http://universityeda.org/value-to-members/best-practice-sharing/awards-of-excellence/2014-awards-of-excellence/awards-of-excellence-2014-finalists/furnace-technology-transfer-accelerator/
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2014 UEDA Awards of Excellence
Wiley Larsen“How to get use-inspired research out of the lab and into the hands of entrepreneurs”The ASU Furnace case study
UEDA Theme: Innovation and Entrepreneurship
entrepreneurship.asu.edu
Wiley LarsenVenture Manager, ASU Office of Entrepreneurship + Innovation
Wiley assists ASU faculty, staff and alumni with commercializing their technologies and intellectual property.
He has experience as a marketing and business development consultant for new ventures as well as extensive experience managing projects for startups, including evaluating business plans, preparing entrepreneurs for pitch events and coaching SBIR/STTR applicants on phase I and phase II commercialization planning.
In addition, he has managed strategic planning initiatives for economic development clients and nonprofit organizations.
about ASU & the New American University model
design aspiration / value entrepreneurship
ASU inspires action. We harness knowledge for innovation and create purposeful ventures in all sectors and realms. We are entrepreneurial as individuals and as an institution.
IDEASOCIAL
BUSINESS ENTREPRENEURSHIP
E+I mission
Our mission is to support regional economic growth and social change; foster an innovative culture among the students, faculty and all units at ASU; and be a national model for E+I at a public research university.
the need
Major research institutions have the same issue: a majority of their patents are never used (95%).
Yet these patents were created via a huge investment in research spending and are coupled with the cost of the patenting process.
the solution
Furnace takes these unused patents and actively “pushes” intellectual property out of the research institutions and into the marketplace where they can be licensed to existing companies or create new startups.
The methodology in selection of technologies, translation, and marketing is key to the success in Furnace. It offers a first-of-its-kind vehicle to face the technology transfer challenge as well as drive economic growth through job creation.
program growth
In addition to Arizona Furnace, ASU was awarded a $1 million grant from the U.S. Department of Defense (USDOD) to work with three laboratories to commercialize USDOD research.
Current lab partnerships include the Air Force Research Laboratory in Rome, New York, the Natick Army Labs in Massachusetts and the Space and Naval Warfare Systems Center Pacific in San Diego, California.
15in Arizona, 15 startup companies were launched through Arizona Furnace.
1.6mstartups that have launched through the Furnace accelerator have raised $1.6M in investment, to date.
1kover 1,000 patents have been evaluated by Furnace for their commercial viability.
impact to date
innovation & entrepreneurship
The sustainability of this initiative will continue as ASU grows new partnerships with research institutions, universities, economic development organizations, funding partners, and entrepreneurial organizations.
Currently, the large interest in Furnace and constant demand to increase commercialization drives the Furnace’s growth. It provides a first-of-its-kind vehicle to deliver technology transfer and drive economic growth through job creation.
2014 UEDA Awards of Excellence
Wiley Larsen“How to get use-inspired research out of the lab and into the hands of entrepreneurs”The ASU Furnace case study
UEDA Theme: Innovation and Entrepreneurship
entrepreneurship.asu.edu
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