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3 2011 ANNUAL REPORT / TECHNOLOGY VENTURE DEVELOPMENT


INTRODUCTION


Welcome to our 2011 Annual Report


W


elcome to the 2011 Annual Report for the office of Tech- nology Venture Development at the University of Utah. We


are dedicated to supporting all commercialization and entre- preneurial activities on campus, and this publication provides an overview of these efforts during the last fiscal year.


Technology Venture Development, created in 2005, provides many diverse programs and activities. The biggest related departments are the Technology Commercialization Office, which manages all intellectual property on campus, and the Pierre Lassonde Entrepre- neur Center, which provides many student programs. All our efforts fall into one of the following categories, which form the sections in our Annual Report:


THE UNIVERSITY OF UTAH’S


ECONOMIC IMPACT We have a positive influence on the local and national economy, and you don’t need to look any further than our startup compa- nies for evidence. The University of Utah has spun off more than 120 startups since 2005. While these companies vary in their stages of development, many have already had a posi- tive impact on the economy or hold great promise for the future. But startups are only part of the equation. Related efforts include creating business and academic partnerships across the world and engaging with the next generation of entrepreneurs.


ENGAGING OUR


COLLEAGUES Faculty involvement is essential to every stage of technology commercialization. Without the tremendous faculty at the Uni-


‘‘


versity of Utah, the campus would not have the technologies to start new companies or attract corporate interest. Our role is to support innovative faculty members who develop new products or processes by protecting their inventions, helping them find funding for development, locating a corporate partner and, often, help- ing them start a company. To accomplish this, we provide a wide range of programs and services, such as our growing Entrepre- neurial Faculty Scholars program.


ENTREPRENEURIAL EDUCATION We provide some of the most innovative student programs anywhere. The Pierre Las- sonde Entrepreneur Center leads the effort with unique business and entrepreneur programs, including the Utah Entrepreneur Challenge and the Lassonde New Venture Development program. Others offerings in- clude the new Innovation Scholar program, the Bench to Bedside competition and the Startup Center for Students.


‘‘ Utah’s simplified approach to company research


partnerships is perhaps the strategic shift that will have the most profound long-term impact on fostering an entrepre- neurial on-campus culture. Again, though counterintuitive to mainstream wisdom, Utah’s decision to introduce more flexible IP clauses into sponsored research contracts not only increased the number of companies willing to invest in research partnerships, but in five years, has substantially increased the number of resulting downstream commer- cial patent licenses.” — Triple Helix Innovation


The Technology


Commercialization Office is located in Research Park.


INDUSTRY PARTNERSHIPS


AND OUTREACH In addition to cultivating faculty involve- ment, we are constantly looking for ways to partner with individuals and companies wanting to get involved with our programs and services. We work with corporations to license our technologies and secure research agreements. We work with local entrepre- neurs who want to help run a university startup company. And we welcome anyone interested to contact us for ways to get involved.


Learn more about us and our programs at www.techventures.utah.edu, www.tco.utah.edu or www.lassonde.utah.edu.


Faculty involvement is essential to technology commercialization.” ‘‘ The U has gained a


reputation as an invention hotbed that dates to 1965, when then-engineering dean Wayne Brown filed the first invention disclosure for a ‘continuous electroplating apparatus.’” — Salt Lake Tribune


‘‘ Utah has long been known as a


hotbed for technology companies, going back to 1979 with the founding of Novell, which is perhaps granddaddy of all Utah tech companies, followed by big names such as WordPerfect Corp., Iomega, Folio Corp. and Caldera Systems (later known as SCO), among others.”— eWeek


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