GENESIS GENESIS Group Group Presentation to Presentation to ISRN Conference ISRN Conference April 28, 2009 April 28, 2009 p p , ,
GENESIS Group GENESIS Group What does it do? What does it do? h h d d d d � Tech Transfer Tech Transfer � Industrial Partnerships � Industrial Partnerships Industrial Partnerships Industrial Partnerships � Spin Spin- -offs & Business Incubation offs & Business Incubation � Cluster development Cluster development
GENESIS Group GENESIS Group GENESIS Group GENESIS Group � Commercialize University Research for the � Commercialize University Research for the Commercialize University Research for the Commercialize University Research for the Good of Society Good of Society � Outreach � Outreach Outreach Outreach –private sector & community private sector & community private sector & community private sector & community � Economic Development Economic Development – – Provincial, Provincial, Regional and National R Regional and National R i i l l d N ti d N ti l l
Genesis Group Genesis Group Mobilizing the Community Mobilizing the Community b l b l h h
th Pillar 4 th Genesis Group Genesis Group – – 4 Pillar O O Organization Organization i i i i Liaison and co Liaison and co ordination Academia, Gov t Liaison and co-ordination Academia, Gov’t Liaison and co ordination Academia, Gov’t ordination Academia, Gov t and Industry and Industry Research best practices & novel approaches Research best practices & novel approaches Research best practices & novel approaches Research best practices & novel approaches Design programs Design programs – –adopt or adapt adopt or adapt Secure support from the other 3 pillars Secure support from the other 3 pillars Secure support from the other 3 pillars Secure support from the other 3 pillars Implement new programs Implement new programs
ISRN ISRN Research Infrastructure Research Infrastructure Physical Infrastructure Physical Infrastructure Physical Infrastructure Physical Infrastructure Cultural/creative Infrastructure Cultural/creative Infrastructure
Research Infrastructure Research Infrastructure Research Infrastructure Research Infrastructure � Transfer University technologies to � Transfer University technologies to Transfer University technologies to Transfer University technologies to Industry Industry � Create Spin � Create Spin Create Spin-offs Create Spin offs offs offs � Provide access to University expertise and Provide access to University expertise and f f facilities facilities iliti iliti
Research Infrastructure Research Infrastructure Research Infrastructure Research Infrastructure � Tech Transfer � Tech Transfer Tech Transfer-Lack of receptor companies Tech Transfer Lack of receptor companies Lack of receptor companies Lack of receptor companies � Spin Spin- -offs offs – – lack of Entrepreneurs & Mgt lack of Entrepreneurs & Mgt � Provide access P P Provide access – basement inventors or id id b b basement inventors or t i t i t t weak companies weak companies
Technology Incubator Technology Incubator Technology Incubator Technology Incubator � Physical infrastructure � Physical infrastructure Physical infrastructure Physical infrastructure � Cultural/creative infrastructure Cultural/creative infrastructure � Literature search, visit NB and Calgary Lit Literature search, visit NB and Calgary Lit t t h h i it NB i it NB d C l d C l � NBIA Conference NBIA Conference - - New Orleans New Orleans
Technology Incubator Technology Incubator Technology Incubator Technology Incubator � Visionary Entrepreneurs � Visionary Entrepreneurs Visionary Entrepreneurs Visionary Entrepreneurs � Private Sector Selection Board Private Sector Selection Board � Access to MUN Resources Access to MUN Resources A A t t MUN R MUN R � Advisory Boards Advisory Boards � World Class Mentors World Class Mentors � Angel and VC funding � Angel and VC funding Angel and VC funding Angel and VC funding
Genesis Centre Genesis Centre Genesis Centre Genesis Centre � 7 000 sq ft centre on campus � 7,000 sq ft centre on campus 7 000 sq ft centre on campus -$250 000 7,000 sq ft centre on campus $250,000 $250 000 $250,000 � SIE of MUN SIE of MUN – – Operating costs Operating costs - -$1.2 Million $1.2 Million � Entrepreneurship Chair E t Entrepreneurship Chair - E t hi hi Ch i Ch i - $1.3 million $1 3 $1 3 $1.3 million illi illi � Boards, Mentors, Selection Boards Boards, Mentors, Selection Boards – – Priceless ( volunteers) Priceless ( volunteers)
Entrepreneurship Chair Entrepreneurship Chair Entrepreneurship Chair Entrepreneurship Chair � Motivated students � Motivated students Motivated students Motivated students � Orchestrated start Orchestrated start- -ups ups � Research on entrepreneurship R R Research on entrepreneurship h h t t hi hi
Genesis Centre Incubator Genesis Centre Incubator Genesis Centre Incubator Genesis Centre Incubator � Second City Comedy club � Second City Comedy club Second City Comedy club Second City Comedy club � Entrepreneurial culture Entrepreneurial culture � Peer group support P P Peer group support t t � Farm league for investors Farm league for investors
Mentors & Advisory Boards Mentors & Advisory Boards Mentors & Advisory Boards Mentors & Advisory Boards � Business Plan � Business Plan Business Plan Business Plan � Equity Equity � Market Access M M Market Access k t A k t A � Management Team Management Team
Venture Funding Venture Funding Venture Funding Venture Funding � Researched and advocated � Researched and advocated Researched and advocated -Investor Tax Researched and advocated Investor Tax Investor Tax Investor Tax Credit Program ( 20% and 35%) $250K Credit Program ( 20% and 35%) $250K � Researched and advocated LSVC Fund � Researched and advocated LSVC Fund Researched and advocated LSVC Fund Researched and advocated LSVC Fund- GrowthWorks GrowthWorks � Researched and advocated Pension Fund R R Researched and advocated Pension Fund h d h d d d d d t d P t d P i i F F d d (3%) (3%) – – no luck yet no luck yet
Results Results Results Results � 23 graduates � 23 graduates 23 graduates 23 graduates � $12 million private equity $12 million private equity � Annual sales in excess of $100 million A Annual sales in excess of $100 million A l l l l i i f $100 f $100 illi illi � 2% Royalty on sales or an equity position 2% Royalty on sales or an equity position
Graduates Graduates Graduates Graduates – Garrison (Gibson) Guitars Garrison (Gibson) Guitars
Mobilizing University Expertise Mobilizing University Expertise Mobilizing University Expertise Mobilizing University Expertise
Garrison Guitars Garrison Guitars Garrison Guitars Garrison Guitars � Manning Innovation Award � Manning Innovation Award Manning Innovation Award Manning Innovation Award � Angel and VC funding Angel and VC funding - - $2million $2million � NL plant NL NL NL plant - l l t t $4 -$4 million $4 $4 million illi illi � Employs 40 people Employs 40 people � Exports to 35 countries Exports to 35 countries � Purchased by Gibson � Purchased by Gibson Purchased by Gibson – expanding plant Purchased by Gibson expanding plant expanding plant expanding plant
Graduates Graduates Graduates Graduates – Garrison (Gibson) Guitars Garrison (Gibson) Guitars – Rutter Technologies Rutter Technologies Rutter Technologies Rutter Technologies
Rutter Technologies Rutter Technologies Rutter Technologies Rutter Technologies
Rutter Inc Rutter Inc Rutter Inc Rutter Inc � Technology from the Marine Institute � Technology from the Marine Institute Technology from the Marine Institute Technology from the Marine Institute � Black Box Voyage recorder Black Box Voyage recorder � Sales $75 million ($25 Million Black Box) Sales $75 million ($25 Million Black Box) S l S l $75 $75 illi illi ($25 Milli ($25 Milli Bl Bl k B k B ) ) � 450 employees (250 in NL) 450 employees (250 in NL) � Partner with Memorial on new sub Partner with Memorial on new sub- -sea sea systems systems y
Graduates Graduates Graduates Graduates – Garrison (Gibson) Guitars Garrison (Gibson) Guitars – Rutter Technologies Rutter Technologies Rutter Technologies Rutter Technologies – Virtual Marine Technologies Virtual Marine Technologies
VMT VMT VMT VMT
VMT VMT VMT VMT � Grad student Entrepreneur � Grad student Entrepreneur Grad student Entrepreneur Grad student Entrepreneur � Lifeboat and rescue boat simulators Lifeboat and rescue boat simulators � Angel Investor and VC A Angel Investor and VC – Growthworks A l I l I t t d VC d VC G G Growthworks th th k k $2.5 Million $2.5 Million � Offshore Oil Company and Cruise line Offshore Oil Company and Cruise line sales sales
Graduates Graduates Graduates Graduates – Garrison (Gibson) Guitars Garrison (Gibson) Guitars – Rutter Technologies Rutter Technologies Rutter Technologies Rutter Technologies – Virtual Marine Technologies Virtual Marine Technologies – Verafin Verafin Verafin Verafin
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