Bridget Noone Enterprise Executive

Promotion of New Venture Creation at

Trinity College Dublin

How to Capitalise on TCD’S Successful Track Record in

Funding

• Commercialisation of research • Through

•Licensing of Technology•Campus Company•Spin-offs•Research Contracts

• Leading to•Creation and development of successful KBEs based on university research

TRINITY’S SUCCESS IN RESEARCH FUNDING – SFI/PRTLI

SFI2001 – 7 Projects €44.45m2002 9 Projects €12 m2003 18 Projects €18m

PRTLICycle 1 (1999-2000) – TCD gained €49m. As lead partnerCycle 2 (2000-2002) – TCD gained €27.8m as joint partner

(DMMC)Cycle 3 (2001-2006) – TCD gained €58.6m as lead partner

TCD gained €44.8m as joint partnerTotal Award to TCD: 130m. (estimate)

5 Year Entrepreneurship Programme at Trinity College

OBJECTIVES

• Leadership Recognition - creation and development of successful knowledge-based companies from research

• Increase number of high potential enterprises through the coordination of specialist training and processes

• Develop entrepreneurship education and training programmes for knowledge-based enterprise creation and for the wider community

Who benefits

• Researchers

• Trinity College

• Economy

Basis of SME Formation from University lies in Research

Subjects Genetics Physics

History Medicine Computer Science Mathematics Language Learning Nutrition Biochemistry Mech. & Manuf

Eng

TCD Companies Identigen, Optigen Eblana Photonics, Allegro,

Magnetic Solutions, Cellix* Eneclann M3D* Haptica, Havok, Iona Glassbridge Authentik, Integrate Irl. IEFS Opsona* 3 Projects in the pipeline

*In formation

Research and Innovation Services Functions

Help initiate new research programmes in TCD, identifying funding and providing a “corporate” backdrop to individual research groups efforts.

Develop commercialisation of research results Ensure that TCD and the State gain a share of

the benefits Adapt best international practice to Irish

circumstances for appropriate University/Industry/Government interactions.

Role of Enterprise Executive

Promotion of new Venture Formation Development of Series of Seminars

and Workshops for Researchers and Entrepreneurs

MBA Workout – Partnership with Trinity College MBA Programme

Entrepreneurship Development Programme

Participation in EU Programmes Developing National and International

Networks

LAB-TO-MARKET: JOURNEY Basic Research (Science Foundation Ireland)

Discovery & Patenting

Market Need & Applied Research

Team Building & Business Strategy

Detailed Market, Technical & Financial Research

Business Plan

1st Round Funding & Start-up

Follow-on funding round(s)

PA

T’S

TEAM

HPSU

TEAM

TC

D’S

RIS

Office

Our Strengths: Three background Advantages for launching new

ventures

TCD Reward for InventorsLong experience of R&ISSupport of the Institution

General Enterprise Ireland funding for Early stages

IP PolicyAvailability of Venture Capital – 4th

Level Incubators

International Entrepreneurship Networks –ProcessesBenchmarking

Keys to Success

Provision of incubation space at or close to the University

Provision of a Trinity College Seed Capital Fund

Development of support structures Development of Education and Training

Programmes Development of national and

international Networks Partnerships and alliances with other

universities and financial institutions

International Networks

PAXIS & PANEL – 5 Thematic networks (includes PANEL), 22 European Regions of Excellence

Cluster – Consortium linking universities of Science and Technology for Education and Research.

REEE – European Round Table on Entrepreneurship Education for Engineers – founded by Stanford – goal accelerate entrepreneurship education for scientists and engineers.

Academic Networks – Research Collaboration and EU Programmes

Industrial Liaison Network – third level institutions – national and international

2004 PROGRAMME OF 2004 PROGRAMME OF EDUCATION/TRAININGEDUCATION/TRAINING

• New Idea Generation Workshop• From Research to Innovation• Intellectual Property • Writing the Business Plan• Legal Issues• Building the Team• Raising Money• 2-day Series of Marketing Modules (6) • MBA Workout• Clinics for new projects• CEO Workshop• Development of Case Studies for

training

EXAMPLE – MBA WORKOUTEXAMPLE – MBA WORKOUT

• To accelerate the planning and execution of Knowledge-based spin-outs created by campus entrepreneurs

• To provide “coalface” experience of new business formation for MBA Students at TCD

• To experiment with format for hands-on entrepreneurship education

• One formal programme per year

MBA Workout Real-time laboratory for creating new

ventures Ventures are based on new knowledge, ie on intellectual capital

Work of the MBA teams will make a difference to the future of these ventures

Analysis, programme design, execution, delivery, communication, persuasion…

• Selection criteria• Assessors appointed to each project to monitor progress and award grades to MBA team• 3 formal

• Scoping, Planning, Final Presentation• Informal contact between project groups/MBA teams• Final written report – assessed by Director of MBA Programme and Director of Innovation Services

Process of Workout – 2003-2004

Matching MBA Teams to Projects

Identification of Possible projects – Dec 03 Work with projects over a 3 month period Selection of projects, based on criteria – March 04 Nomination of Assessors to Projects Presentation by Project Teams to MBA Class – April 04 MBA Teams formed Presentation by MBA teams bidding for specific

projects NDAs signed and formal process commenced All formal meetings attended by assessors/reps from

Trinity College Enterprise Centre and Business School

Successful Projects

Bundling of Medical/Genetic Patents from three major research groups

Spin-out application from High Performance Computing Group collaboration with Nutrition Research

Patient Specific Prosthesis Analysis Development of diagnostic kit using

silver nanosensor system for detection of heart disease

MBA students gain valuable experience in dealing with start up enterprises

while contributing an analytical business perspective to the evolution of these enterprises.

And contributing to the evolution of College policy in relation to campus enterprise

Benefits

Results 2004Project 1 – Diagnostic Kit using Silver

Nanosensor System Having Analysed the market for the product

and the company’s market strategy, the recommendation was that the company needs a strategic partner and also recommended some strengthening of the team

Project 2 – Patient Specific Prosthesis Analysis Having researched the route to market for this

product/service, the recommendation was that the project should focus on developing technology and should partner with a prosthesis manufacturer to access end user

Results 2004

Project 3 – Spin-out from HPC Group Assisted promoters to clarify their business

opportunity and identify their route to market. They also analysed how to raise awareness while building equity in the brand

Project 4 – Bundling of Medical/Genetic Patents Developed Financial Scenario model for the

project and developed a blueprint for a ebsite to create a web presence

Bridget NooneEnterprise ExecutiveTrinity College Enterprise CentreThe TowerPearse StreetDublin 2

Telephone: 353-1-6775655Email: bnoone@tcd.ie

Contact Details