Tentative schedule subject to change
Prerequisites: some familiarity with technology licensing and intellectual property.
Wednesday, July 12
1:30 - 1:45 p.m. Welcome and Introductions
1:45 - 2:15 p.m. Startups and Ecosystems
Instructor: Peter Ball, Mayo Clinic Ventures
What is a startup? Why do them? How are they created and nurtured? Entrepreneurs launch startups for a variety of reasons, but university startups are most often created to commercialize research for public benefit, to recruit, reward and retain faculty and students, to promote growth in the local economy and to generate income. Startup success requires cultivation of a fertile ecosystem serving multiple stakeholders. This introductory module provides a framework for addressing numerous issues such as conflicts, valuation, risk management, market analysis, intellectual property, government regulations, licensing, funding, entity formation and execution.
2:15 - 3:15 p.m. Policy Issues: Intellectual Property, Conflict of Interest and Commitment
Instructor: Monica Sveen Ziebell, Mayo Clinic
University startups create a number of challenges to the institution’s relationship with its faculty and students, raising policy issues for intellectual property, conflicts of interest and conflicts of commitment. Well-designed policies and conflict management programs are necessary components of any successful startup ecosystem. In this module we will discuss policy examples to show how thoughtful policies promote appropriate behavior, discourage misconduct, and succeed (or fail) in practice.
3:15 - 3:45 p.m. Break
3:45 - 4:45 p.m. Opportunity Evaluation, Risk Assessment and Resource
Instructor: Joe Feldman, Joseph Feldman Associates
Given a portfolio of startup (and other) opportunities, limited resources, and competing goals, which resources should be allocated to which opportunities? This module will present the startup development roadmap, including milestones, for defining the value proposition, quantifying risk and identifying funding needs. We will discuss intellectual property strategy, market analysis, technical risk, regulatory issues, and contractual due diligence.
4:45 - 5 p.m. Break
5 - 5:50 p.m. I-Corps and Lean Launchpad
Instructor: Christina Pellicane, University of Delaware
Quick iteration and hypothesis testing enable startups to efficiently search for repeatable and scalable business models. This module will describe Customer Discovery, Customer Validation, the Business Model Canvas, and finding Product-Market Fit. You will learn how I-Corps and Lean LaunchPad play a vital role in university startup ecosystems.
6 - 7:30p.m. Welcome Reception
Thursday, July 13
7 - 8 a.m. Breakfast
8 - 8:50 a.m. Incubators, Accelerators and Strategic Partnerships
Instructor: Heather Bakalyar, Liminal Innovation
Incubators nurture early stage ideas or concepts with the goal of creating a promising business model and fundable company. Accelerators refine and scale existing businesses. Strategic partners typically provide capital, product development, marketing and distribution in exchange for access to a startup’s new technology. This module describes how universities work with incubators, accelerators and strategic partners to advance startups.
8:50 - 9:05 a.m. Break
9:05 - 9:55 a.m. Funding Options
Instructors: Ben Johnson, Silicon Valley Bank
Peter Ball, Mayo Clinic Ventures
The startup development roadmap helps identify funding needs from idea to exit. Mapping these needs to the most appropriate funding sources improves a startup’s prospects for success. This module will discuss potential funding sources for each stage of development including federal programs, state and local government, crowdfunding, corporate research collaborations, friends and family, angel investors and venture capital.
9:55 - 10:10 a.m. Break
10:10 - 11a.m. Entity Choice, Funding Issues, Equity Issues
Instructor: Steven Ducommun, Perkins Coie, LLP
In this session we will cover the basics of entity formation, equity terms and venture capital: how it works, what the incentives are, capitalization tables, the principles of dilution, multi-round financing, and differences in terms. We will discuss practical “how to’s” and “don’t do’s” of early-stage company formation and the impact on licensing.
11 - 11:15 a.m. Break
11:15 - 12 p.m. Startup Licensing, Part 1
Instructor: Eric Ginsburg, University of Chicago
A licensing transaction is at the core of every startup opportunity. We will discuss policy issues described in the previous sessions including creation of an environment that supports principled negotiation with a faculty-led startup. We will also discuss licensing terms and provisions to address intellectual property, market and technical risk and regulatory issues.
12 - 1 p.m. Lunch
1 - 2 p.m. Startup Licensing, Part 2
Instructor: Peter Ball, Mayo Clinic Ventures
We continue our discussion of licensing provisions with a focus on equity provisions, funding milestones and exit strategy.
2 - 2:30 p.m. Post Startup Considerations
Instructor: Anne DiSante, Michigan State University
This final session will cover how to manage the university licensor-startup licensee relationship going forward, including what to do when the startup encounters setbacks or pivots, and how to maximize the benefits of successful startups for all stakeholders.
2:30 - 2:45 p.m. Conclusion - Evaluation - Wrap Up