TECHNOLOGY
The Statewide Incubator by Rachel Wiley
I
n our September/October issue, we began to address the question of what role, exactly, students play with
regards to innovations on campus. We spoke with Tim Arnold of University of Central Florida, whose attempt at a more functional registration program was not only stifled, but prosecuted. Mean- while, Arnold went on to participate in UCF’s startup accelerator, something with which most universities are familiar. However, major universities and institu- tions in Arizona have partnered to create the first statewide, collaborative accelera- tor to date.
petition and Te University of Arizona, Northern
Called Arizona Furnace, the com- Arizona University,
Arizona
State University and Tunderbird School of Global Management, along with Bio- Accel, Arizona Techology Enterprises, Arizona Commerce Authority, Dignity Health and McDonnell Boehnen Hul- bert & Berghoff, LLP have all partnered to help support this unique accelerator. Arizona State University’s Venture Catalyst was actually responsible for the Furnace idea. So, why Furnace? Gordon McConnell, Assistant Vice President for Innovation, Entrepreneurship, and Venture Accelera- tion at ASU Venture Catalyst, says: “Te joke is that that’s the way people feel in Arizona in May, June, July, August, September and sometimes even October. But Furnace comes from the idea that a block of metal in and of itself has inherent uses, but is useless in and of itself. However, once you put it in a furnace, it comes out the other side and it has a purpose. Tat’s what we’re trying to do with technology transfer.” Since 1980, the universities have been managing intellectual property across America, and since then, the number of startups coming out of universities shot up compared to pre-1980, usually lead by faculty members or licensed to large corporations. “Tese startups tend to sit on a
26 NOV/DEC 2012 •
TODAYSCAMPUS.COM Arizona Furnace:
Christopher McGhay of Salud Móvil, currently working in the Arizona State
University Catalyst program, the first non-profit foundation for parent company mHealth Global Applications.
shelf. Te idea is to take the unencumbered technolo- gies that the university is producing, clean them up and put them out in a shop front. Tat was phase one. Ten we thought, if we’re going to do it, why don’t we get other patent-producing, technology-producing institu- tions in the state of Arizona to join us, and let’s do it as a collaboration as a state?” adds McConnell. Te six-month accelerator provides seed funding, office space and access to top industry mentors, leading to the opportunity to commercialize these technologies into startups through investors – with no equity given away. First, students select a technology, form a team, create a business proposal and apply. Te competition is open to anyone worldwide, with the ACA committing
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