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UNC helps
faculty entrepreneurs make their business ideas a
reality |
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Simply defined, technology transfer is the process of taking
university-developed technology with practical applications to the private
sector, leading to new products, services and jobs.
Last month, Tony Waldrop, vice chancellor for research and
economic development, presented a detailed report to University trustees about
the steps the Office of Technology Development is taking to streamline that
process in a way that both encourages and supports the entrepreneurial spirit.
Waldrop cited a 2003 white paper authored by 12 faculty
entrepreneurs that raised concerns about the lack of updated, comprehensive
guidelines and procedures. One issue to be clarified was outlining conditions
under which a faculty member would be entitled to patent rights.
Patent and invention policy
On Jan. 1, the University revised the patent and invention
policy to pinpoint those conditions, Waldrop said.
The policy says that to have ownership, a faculty member
should have developed the invention outside the scope of the inventor’s
employment activities. If the subject of the invention was within the scope of
its inventor’s employment activities, the invention should have been made in
the course of the faculty member’s external professional activities.
The policy also says that the faculty member would not have
been able to use University facilities, equipment or materials, or any
University-administered funds. Furthermore, the development of the invention
should not interfere with the faculty member’s obligation to fulfill his or her
primary University duties in a timely, effective manner.
The Office of Technology Development has also worked to make
it easier for faculty members to navigate the legal complexities associated
with the launch of a startup company.
For instance, a program called “Carolina Express License”
has shortened the timeline for the licensing process to as little as three
weeks while minimizing the company’s legal costs. At the same time, the program
replaces the negotiation for equity between a faculty member and the University
with a cash payment upon liquidation.
Launching startups
The technology development office has partnered with
Kenan-Flagler Business School and the Renaissance Computing Institute (RENCI)
to create Carolina Launch Pad, a business accelerator to support early-stage
technology startup companies and ideas, Waldrop said.
To be considered for Carolina Launch Pad, the startups must
be focused exclusively on information technology-oriented businesses that have
a clear business concept but are still in the pre-funding stage. Carolina
Launch Pad will admit up to five startup companies each fall for a one-year
term.
Waldrop also highlighted Launch the Venture, four courses
taught at Kenan-Flager with support from the Office of Technology Development,
which are designed to help entrepreneurial University teams launch commercial
businesses and social ventures. Any mixture of faculty, staff, postdoctoral
students, graduate students or undergraduate students can make up these teams,
he said.
Launch the Venture has helped more than 100 commercial and
nonprofit ventures since its inception nine years ago.
The Office of Technology Development, working in partnership
with the School of Medicine’s Office of Research and Faculty Development, also
established N.C. BioStart. The program seeks to help emerging biotechnology
startups with their business plans and with access to investors and national
venture capital firms.
Industry partners
It is important that the University “speak with one voice”
with industry partners,
Waldrop said.
That is now possible through the Corporate Partnership
Group, which has participants from the Office of Sponsored Research, the Office
of Technology Development, the Office of University Counsel, the Corporate and
Foundation Office and the dean’s office within the School of Medicine.
Finally, Waldrop cited the development agreement approved
earlier this year between the town of Chapel Hill and the University as a
milestone event that will allow the University in the years ahead to launch the
next phase of entrepreneurship.
A PowerPoint of Waldrop’s presentation is included on the
Board of Trustees Web site, www.unc.edu/depts/trustees/presenta tions.html. |
