Track E

E3 The Diminishing Returns of Venture Philanthropy

Track: Industry/Academic Partnerships

Target Audience: All Audiences

Daniel J. Catron, University of Miami

Robert M. Gerstein, Marshall, Gerstein & Borun, LLP
Jim O'Connell, University of Miami
Claes Wahlestedt, University of Miami
Catherine Wendelken, Cystic Fibrosis Foundation

The increasing scarcity of federal grant dollars has opened an opportunity for philanthropic ventures to address this funding issue. While faculty members are attracted to foundations that provide such early-stage funding, the costs and risks should be assessed. Funding agreements typically demand participation in the royalty stream for the resulting intellectual property (IP). This can place technology transfer offices in the difficult position of balancing university policies along with faculty interests and the assignment of value within royalty streams. The purpose of this session is to explore the perspectives of the foundation, the technology transfer office and faculty. Common language encountered in such agreements will be discussed, especially the most egregious examples. Foundation representatives will provide insight into the rationale behind such potentially overreaching terms. And participants are encouraged to share best practices and experiences. The exploration of this issue will make this increasingly common source of funding better understood across the campus.

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