Technology Transfer at U-M Accelerating the commercialization of research discoveries and catalyzing startup success KELLY SEXTON Associate Vice President for Research Technology Transfer and Innovation Partnerships PETER FALZON President and CEO Ripple Science 1
“Let’s redefine how world-class university research can fuel a region and solve the world’s greatest challenges.” 2
The University of Michigan’s Innovation Engine The University of Michigan has the largest research voume of any public university in the country. Source: National Science Foundation $1.6B This research enterprise is an engine of discovery. IN ANNUAL RESEARCH EXPENDITURES Technology Transfer is the process by which we move these innovations out FY 2019 of the lab and into the marketplace. 3
To launch successful startup companies, we need: Innovation Talent Capital 4
Talent Talent Mentors-in-Residence 5
Capital: Regional funding disparities create challenges for Michigan startups CA, MA and NY account for 75% of all VC invested in the US 6
Capital: Regional funding disparities create challenges for Michigan startups Average Time from Founding to $500K Raised by US Region Years 7
MEDC SUPPORTED MENTOR IN RESIDENCE From Michigan to Silicon Valley “The Mentor in Residence program and back in 25 short years. was my introduction to the Michigan entrepreneurship ecosystem. I was immediately impressed with the quality of the technology coming out of our universities. Within a year, I returned full time from California to become an investor and entrepreneur in Michigan.”
Our vision is to reduce clinical trial failures by 50% Our technology transforms the patient enrollment and retention experience, the #1 reason cited when clinical trials fail.
ABOUT RIPPLE SCIENCE ❏ Launched Ripple in 2017 ❏ 22 jobs created ❏ $7 million capital raised ❏ $3 million from outside Michigan ❏ MEDC programs played a critical role ❏ Invest Detroit, Invest Michigan, Michigan Rise, Renaissance Ventures
THE “FIRST CAPITAL GAP” ❏ First capital is critical to get a product out the door ❏ “On the coasts” angels who have sold businesses tend to fill this role ❏ “Middle-state” angels tend to be later stage investors ❏ State funded programs fill the “first capital gap” in middle states ❏ Michigan’s MEDC funded programs are critical to level the playing field
RIPPLE DURING COVID ❏ Usage increased across-the-board when research teams went remote ❏ Ripple enables both remote team work and virtual patient monitoring ❏ Ripple is new technology being used to accelerate COVID clinical trials: ❏ US clinical trial to validate a point-of-care rapid COVID antibody test kit ❏ One of the five vaccine trials worldwide in human clinical trial stage of development ❏ And others ... ❏ Crisis catalyzes change. Technology enables that change.
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