2nd Class SD Innovation Economy-Student-Final

2nd Class SD Innovation Economy-Student-Final - Del Foit...

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Unformatted text preview: Del Foit dfoit@ucsd.edu September 27, 2011 Agenda Your Learning Expecta3ons for Quarter •  •  •  •  •  •  How to build a business model How to start a business Project management techniques Entrepreneurial skills Frameworks for idea evalua>on Idea mone>za>on For Classroom Use Only - Del Foit •  Kauffman Founda>on  ­ Entrepreneurship hDp://www.kauffman.org/research ­and ­policy/startup ­ act.aspx For Classroom Use Only - Del Foit Pondering “It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change”.  ­ ­ Charles Darwin, English naturalist For Classroom Use Only - Del Foit San Diego County For Classroom Use Only - Del Foit Sectors •  •  •  •  •  •  •  SoNware Communica>ons Bio/Pharma/Med Device (a.k.a. Life Sciences) Computer & Electronics Environmental Technology Defense and Transporta>on Recrea>onal Goods Source: CONNECT; San Diego Institute for Public Policy Research For Classroom Use Only - Del Foit San Diego Knowledge Based Clusters •  •  •  •  •  •  •  Technology (IT/SoNware/Wireless) Life Sciences Energy & Environment (Clean Tech) Ac>on & Sports Innovators Wireless ­Life Science Alliances Stem Cells Defense & Security For Classroom Use Only - Del Foit San Diego County Clusters For Classroom Use Only - Del Foit Ecosystem •  •  •  •  Legal Firms – 100 Venture Capital Firms – 20 Commercial Banks – 5 Service providers For Classroom Use Only - Del Foit Ecosystem – Large Companies •  •  •  •  •  •  •  •  •  •  •  Sony Nokia Kyocerra HewleD Packard QualComm SAIC Motorola General Atomics Sempra Energy Solar Turbine Goodrich Aerospace •  WD ­40 •  •  •  •  •  •  •  •  •  •  •  •  •  Johnson & Johnson Novar>s Pfizer Lilly Merck Genentech Biogen ­Idec GenProbe Life Technollogies Illumina Amylin Sequenom Res ­Med For Classroom Use Only - Del Foit Ecosystem Networking Venues •  •  •  •  •  •  •  CONNECT MIT Enterprise Forum San Diego Venture Group CommNexus San Diego SoNware Industry Council BIOCOM AeA For Classroom Use Only - Del Foit Roles of University in Boos3ng Rate of Innova3on •  •  •  •  •  As Trainer As Innovator As Partner As Regional Talent Magnet As Facilitator For Classroom Use Only - Del Foit Impact of “Science Parks” •  Stanford Research Park – Bay Area •  Research Triangle – North Carolina •  Sorrento Valley & Mesa – San Diego For Classroom Use Only - Del Foit Where do Innova3ons Come From? Transforma3ons in the U.S. Na3onal Innova3on System, 1976 ­2006 Fred Block and MaZhew R. Keller July 2008 •  …innova>ons recognized by R&D Magazine as being among the top 100 innova>ons of the year over the last four decades. •  …in the 1970s almost all winners came from corpora>ons ac>ng on their own, more recently over two ­thirds of the winners have come from partnerships involving business and government, including federal labs and federally ­funded university research. For Classroom Use Only - Del Foit Where do Innova3ons Come From? •  ...in 2006 77 of the 88 U.S. en>>es that produced award ­winning innova>ons were beneficiaries of federal funding. •  …approximately two ­thirds of the award ­winning U.S. innova>ons involve some kind of inter ­organiza>onal collabora>on  ­ a situa>on that reflects the more collabora>ve nature of the innova>on process and the greater role in private sector innova>on by government agencies, federal laboratories, and research universi>es. For Classroom Use Only - Del Foit Key Condi3ons for Developing Technology Cluster Research Talent Money For Classroom Use Only - Del Foit VC Investments by State: 2010 Massachusetts $2.3 billion Washington $600 million Pennsylvania $500 million New York $1.3 billion California $11.1 billion Illinois $600 Million Colorado $500 million New Jersey $400 million North Carolina $500 million Texas $900 million All Others $3.2 billion 2010 Total Investments - $21.8 billion PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report based on data from Thomson Reuters PwC For Classroom Use Only - Del Foit Venture Capital Investment 2008 2009 2010 USA Total Number Average $28.3 3,985 $7.0M $18.1B 2,893 $6.2M $21.8B 3,277 $6.7M California Total Number Average $14.3B 1,626 $8.6M $9.1B 1,185 $7.7M $11.0B 1,289 $8.5M San Diego Total Number Average $1.2B 126 $9.7M $.9B 107 $8.4M $.9B 118 $7.5M Source: CONNECT: The Money Tree Report by PriceWaterhouseCoopers/National Venture Capital Association based upon data from Thomson Financial For Classroom Use Only - Del Foit Investments by region: Q2 2011 Sacramento/N. CA $28.3M 2 Deals 0% of US total Northwest $161.1M 36 Deals 2% of US total Silicon Valley $2,968.8 M 319Deals 39% of US total North Central $119.8 M 17 Deals 2% of US total Colorado $203.8 M 21 Deals 3% of US total LA/Orange County $541.8M 54Deals 7% of US total San Diego $198.2 M 29Deals 3% of US total Upstate NY $48.7 M 7Deals 1% of US total Southwest $209.6M 14 Deals 3% of US total New England $1,107.8 M 119 Deals 15% of US total NY Metro $624.2M 98Deals 8% of US total Midwest $343.8 M 75 Deals 5% of US total South Central $25.5 M 18 Deals 0% of US total Texas $248.0 M 38 Deals 3% of US total Southeast $293.3 M 45 Deals 4% of US total AK/HI/PR $0 M 1 Deal 0% of US total Q2 2011 Total Investments - $7,516.1 million in 966 deals PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report based on data from Thomson Reuters PwC For Classroom Use Only - Del Foit Philadelphia Metro $89.3M 29Deals 1% of US total DC/Metroplex $304.1 M 44Deals 4% of US total In the Beginning •  The Scripps Ins>tu>on of Oceanography (1903) •  U.C. San Diego (1960) •  Salk Ins>tute (1963) For Classroom Use Only - Del Foit In the Beginning •  The Scripps Institution of Oceanography (1903) •  U.C. San Diego (1960) •  Salk Institute (1963) Today there are over 50 major research institutes in San Diego, with five founded in the last two years. For Classroom Use Only - Del Foit Defense and Security •  Convair was formed in 1943 by a merger of Ruben H. Fleet’s Consair and Vultee. For Classroom Use Only - Del Foit Defense and Security •  Convair was formed in 1943 by a merger of Ruben H. Fleet’s Consair and Vultee. Today there are more than 300 Defense and Security Companies opera>ng in San Diego. For Classroom Use Only - Del Foit IT/Wireless/So`ware •  Linkabitwas founded by UC San Diego professor Irwin M. Jacobs in 1968 as the first “high tech” communica>ons company in San Diego. •  Peter Preuss developed his first soNware package in 1969 and founded ISSCO in 1970. For Classroom Use Only - Del Foit IT/Wireless/So`ware •  Linkabitwas founded by UC San Diego professor Irwin M. Jacobs in 1968 as the first “high tech” communica>ons company in San Diego. •  Peter Preuss developed his first soNware package in 1969 and founded ISSCO in 1970. Today there are more than 1000 IT, Wireless and SoNware Companies opera>ng in San Diego. For Classroom Use Only - Del Foit Life Sciences •  Hybritech was founded in 1978 by UC San Diego professors Ivor Royston and Howard Birndorf as the first “BioTech” Company in San Diego. For Classroom Use Only - Del Foit Life Sciences •  Hybritech was founded in 1978 by UC San Diego professors Ivor Royston and Howard Birndorf as the first “BioTech” Company in San Diego. Today there are more than 600 Life Science Companies opera>ng in San Diego. For Classroom Use Only - Del Foit Energy & Environment •  General Atomics was founded in 1955 as San Diego’s first Energy Company by General Dynamics. For Classroom Use Only - Del Foit Energy & Environment •  General Atomics was founded in 1955 as San Diego’s first Energy Company by General Dynamics. Today there are more than 250 Energy and Environmental Companies opera>ng in San Diego. For Classroom Use Only - Del Foit Ac3on & Sports •  San Diego’s Ac>on Sports traces back to the founding of Gordon and Smith Surqoards in 1959. For Classroom Use Only - Del Foit Ac3on & Sports •  San Diego’s Ac>on Sports traces back to the founding of Gordon and Smith Surqoards in 1959. Today there are more than 600 Ac>on and Sports related Companies opera>ng in San Diego. For Classroom Use Only - Del Foit Company Forma3on California San Diego 2008 2,197 282 2009 2,522 319 2010 2,350 277 Q1 2011 597 70 Source CONNECT: National University System Institute for policy research For Classroom Use Only - Del Foit New Jobs By Industry Sector Software 2009 318 2010 223 Q1 2011 59 Pharma/Bio/Med Tech 280 216 17 Environmental Tech Communications 155 139 60 126 7 37 Computer & Electronics 102 48 4 Defense & Transportation 62 30 5 Recreational 14 24 7 Source CONNECT: National University System Institute for policy research For Classroom Use Only - Del Foit San Diego Patent Ac3vity Published Granted 2008 5,672 2,721 2009 5,983 2,841 2010 6,374 3,986 Source: USPTO, UC San Diego Extension: CONNECT For Classroom Use Only - Del Foit Q1 2011 1,541 1,115 Patent Density 2008 Published SD OC LA 2009 2010 Q1 2011 189 149 61 194 129 56 209 125 58 50 34 14 90 90 41 92 87 42 130 105 49 36 29 11 Granted SD OC LA Source: USPTO, UC San Diego Extension: CONNECT For Classroom Use Only - Del Foit Key Condi3on  ­ Compe33ve Collabora3on Research San Diego Culture of Collaboration Talent Money For Classroom Use Only - Del Foit San Diego Entrepreneurial Culture “The Otterson Culture” •  Help each other – compete in the marketplace •  Team above self •  Region above company •  Poli3cal issues maZer –  FDA Reform –  Security li3ga3on reform –  Etc. etc. •  It’s ok to try and fail (as long as you try again) For Classroom Use Only - Del Foit For Classroom Use Only - Del Foit For Classroom Use Only - Del Foit Timmons Model of the Entrepreneurial Process For Classroom Use Only - Del Foit Mission Statement The mission and purpose of CONNECT is to assist in the crea<on of new science and technology businesses in San Diego For Classroom Use Only - Del Foit •  CONNECT hDp://vimeo.com/28016511 For Classroom Use Only - Del Foit CONNECT •  Founded in 1985 at UCSD –  Government –  Venture Capital –  Entrepreneurs –  Commercializa>on of Research •  Entrepreneurialism educa>on •  Advocacy on behalf of Innova>on ~ 1,500 companies > $10 billion in funding For Classroom Use Only - Del Foit The CONNECT Founders •  Richard Atkinson, Chancellor, UCSD •  Dan Pegg, Economic Development Corp. •  Irwin Jacobs, Qualcomm •  David Hale, Hybritech •  Bob Weaver, DeloiDe •  Buzz Wooley, Girard Founda>on •  Lea Rudee, UCSD Engineering •  Mary Walshok, UCSD Extension For Classroom Use Only - Del Foit For Classroom Use Only - Del Foit CONNECT as Spoke of Wheel For Classroom Use Only - Del Foit San Diego Innova3on Economy For Classroom Use Only - Del Foit The CONNECT Innova3on Quarterly •  •  •  •  •  •  CONNECT ­track New patent applica>ons Research grant awards Research employment Angel and venture capital investment Technology business closings For Classroom Use Only - Del Foit CONNECT Today •  200 Members •  14 Staff •  20 Programs •  100 EIRs; 85 Domain Experts •  900 Volunteers •  300 Events •  10,500 ADendees For Classroom Use Only - Del Foit Acknowledgements •  Julian R. BeDs, Carolyn W.B. Lee, “Universi>es as Drivers of Regional and Na>onal Innova>on: An Assessment of the Linkages from Universi>es to Innova>on and Economic Growth” February 2004 •  Nathan Owen, UCSD Global Connect •  Marco Thompson, Managing Director, Express Ventures •  Ruprecht von BuDlar, Director Innova>on Programs, CONNECT For Classroom Use Only - Del Foit Next Class – September 29th  ­ Prepara3on •  Required Reading –  Chapter 2 [NVC]: Read pgs 41 – 64 –  “A Garage and an Idea: What more Does an Entrepreneur Need?”, Pino G. Audia, Christopher I. Rider, California Management Review, November 2005 •  Assignment –  Review Personal Entrepreneurial Strategy [NVC] Step 1, pgs 68 ­71; be prepared to share with class For Classroom Use Only - Del Foit ...
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