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Report Offers Insights On University Ties to Venture Capitalists
Colleagues,
As published by the USC Stevens Institute for Innovation...and reported by Tech Transfer E-News...Universities can improve their ties to venture capitalists by establishing a transparent process to work with them and by better educating faculty members about the nuts and bolts of tech transfer deals, according to a report released yesterday by the University of Southern California (USC).
“Venture Capital-University Interface: Best Practices to Make Maximum Impact” draws on interviews with 94 VCs across the country. The report offers a framework for universities to improve their pitches and to generate successful start-ups from their research by setting proper expectations for faculty members, administrators, and industry partners.
For example, university-generated business plans grossly underestimate the amount of time needed to take a product to market, according to VC respondents. Typically, VCs add two or three years to an estimate provided by a university, the report says.
In addition, tech transfer leaders should spend more time reaching out to investors and building networks of contacts to solicit ideas and advice. Instead many TTOs approach investors with lists of patents, poorly designed proposals, or inappropriate projects, the report adds.
“There are VCs out there that really want to get involved in universities,” says Krisztina Holly, executive director of USC’s Stevens Institute for Innovation and the report’s author. “But VCs go with the people that they know. Universities can take the first steps to start developing those relationships.”
In some cases, faculty members simply fail to understand the needs of investors. In fact, it’s often helpful to have researchers meet directly with VCs in an informal setting...
Read on at: http://stevens.usc.edu/docs/vcstudy.pdf
ENJOY!
CC
As published by the USC Stevens Institute for Innovation...and reported by Tech Transfer E-News...Universities can improve their ties to venture capitalists by establishing a transparent process to work with them and by better educating faculty members about the nuts and bolts of tech transfer deals, according to a report released yesterday by the University of Southern California (USC).
“Venture Capital-University Interface: Best Practices to Make Maximum Impact” draws on interviews with 94 VCs across the country. The report offers a framework for universities to improve their pitches and to generate successful start-ups from their research by setting proper expectations for faculty members, administrators, and industry partners.
For example, university-generated business plans grossly underestimate the amount of time needed to take a product to market, according to VC respondents. Typically, VCs add two or three years to an estimate provided by a university, the report says.
In addition, tech transfer leaders should spend more time reaching out to investors and building networks of contacts to solicit ideas and advice. Instead many TTOs approach investors with lists of patents, poorly designed proposals, or inappropriate projects, the report adds.
“There are VCs out there that really want to get involved in universities,” says Krisztina Holly, executive director of USC’s Stevens Institute for Innovation and the report’s author. “But VCs go with the people that they know. Universities can take the first steps to start developing those relationships.”
In some cases, faculty members simply fail to understand the needs of investors. In fact, it’s often helpful to have researchers meet directly with VCs in an informal setting...
Read on at: http://stevens.usc.edu/docs/vcstudy.pdf
ENJOY!
CC
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