Associate Professor Damian Hine
UQ Business School
Experience in the Implementation of
Innovation and Commercialisation
Ideas?
UQ Successes
Over 30 years of technology transfer at UQ.
Up to 500 invention disclosures a year.
Some Successes:
Gardasil
- sales over $10Bn
Spinifex Pharmaceuticals
- Investment of $1BnTriple P
(Positive Parenting Program)
-
in over 30 countriesTetraQ
- servicing mostly US and Japanese clients
Impedimed
- Market capitalization $254M
We don’t just do it –
we teach it
•
Many universities undertake technology
transfer and research commercialisation.
•
Few have been successful in integrating it
in to their programs.
•
We have integrated commercialisation in
• Lean LaunchPad – National program for CSIRO
• International programs – Vietnam, Chile, Panama, Ecuador, Brazil
• Embedded in our teaching programs – Graduate Certificate in Research Commercialisation; Master of Technology Innovation Management – you can only run these programs successfully if you are already research intensive.
We must remember
–
Researchers are not Entrepreneurs
Researchers are usually doing problem solving science. They will rarely ever meet a final customer/user/patient.
Innovators can combine the elements of each of the others – but are VERY RARE.
CRICOS Provider Number 00025B
Helping
researchers by
lighting a pathway
What do I do with it?
Who will
use it? It is commercially viable?
Does viability matter?
Do I protect it?
How do I protect it? Do I develop
it? How do I develop it? Who will
help me? How long will
it take? How much will
development cost? How do I
fund it? Do I expand it? How do I get
out of it?
What’s next?
I discover something
1. Public/private good discussion – decision on mix
2. Commercial viability or non-commercial value – societal, spiritual, justice, QoL value
3. Types of IP – it would be very rare that it is unique – fit for purpose
4. IPRs and Protection types or not - Level of disclosure, cost and complexity, what
requirements of each type of IP does it meet
5. Who owns the IP – where do you sit, what contractual arrangements are or should be in
place?
6. Advice and support –pate t attor eys, la yers, te h i al support, fi a ial…
7. Market/audience $ and or size, growth, penetration. Not just macro-market, but your actual
market.
8. Competitors and/or collaborators – know the cauldron are you entering.
9. Pathways– compare possible alternatives and decide – start-up, license, JV, SA, spin-off…
10. Development cycle – how long, how much, how hard, how complex
11. Horizons– one to three - looking in to the future for disruptions
12. Supporting financials– including valuation, funding, cost of protection, market revenues.
Where does your idea/technology sit?
One of the best ways to define the
commercial (or non-commercial) viability of
a technology is to assess its excludability
and its rivalry.
Public/private good –
Rival?
Excludable? High
Low
High Low
Private Goods
Public Goods Common Goods
Collective Good
Low cost vaccines
in to Myanmar Full cost
vaccines in to US, Europe
Free vaccines
in to Myanmar
?
Rivalry - Does o e perso ’s use of the good di i ish a other perso ’s a ility to use it?
Excludability - Can people be prevented from using the good?
Demand side and supply side can see things differently.
You can indicate single or multiple
sites and sizes.
Rival?Excludable? High
Low
High Low
Private Goods
Public Goods Common Goods
Collective Good
Time 1
Time 3
Public Good Private Good
Societal
Value
Commercial
Value
Low excludability High excludability
Low rivalry High rivalry
Viability - What type of value dominates?
Commercial
viability or non-commercial
Value
Risk
$$
Proof of Principle
Proof of Concept
Working prototype
Manufacturing prototype
Market launch
You are here
You want to be are
here
De-risking the venture is essential,
but needs time and progress.
You are here
You want to be here
How long will it take?
Questions to ask yourself: Where are you now
(viability)?
How far do you want to take it yourself (Exit strategy)?
By when (Devt Cycle)? With whom (Collaborators)? With whose help (Advice and
Support)?
What will it cost (Financials)?
What’s next Horizons ?
UQ
–
Who Owns it?
9. Reward for Staff Contributors
9.1 The University wishes to encourage innovation by rewarding staff, students and visitors who create valuable IP ("contributors"), regardless of whether that IP vests in research or teaching materials. The University will ensure that the Net Proceeds of Commercialisation are
distributed with
one-third to the contributors, one-third to the relevant
Faculty/Institute and one-third to central University funds.
"Net Proceeds of Commercialisation" means the total of net cash revenues received from commercialising the IP (including royalties, license fees, milestone payments, dividends and proceeds from the sale of shares but excluding R&D funds, consulting funds, returns from direct investment by
the University or a Commercial Company, and any encumbered revenues until the encumbrance is lifted). Net Proceeds of Commercialisation are less
all expenses incurred by or on behalf of the University in respect of commercialising the technology that have not previously been recovered. Who owns the
IP – where do
you sit, contractual arrangements in
Discovery R&d Proof of
Concept Scale-up
Manufacturing Prototype
Research Centre
R&D Consortium Research Organisation
Research Facility
Venture Capital
Government Agency
R&D Funding Agency
Commercial Law
Commercialisation/Translational Organisation
Management and Financial Consultancy
Market Launch
Research Institute
Advice and support–
patent attorneys, lawyers, technical,
Meso Market
–
National market, or those in your specific field –
“This is a $590M market”
Micro Market
–
localmarket, or those directly
competing in your chosen field
– “This is a $90M market”
Macro Market
–
global market in yours and related fields – “This is a
$10Bn market”.
Be realistic and know your market
(everyone, everywhere, now and in the future)
Market/audience $, size, growth, penetration. Macro
Realistic timelines
Development cycle – how long, how much,
De-risking
Value Risk $$ Proof of Principle Proof of Concept Working prototype Manufacturing prototype Market launchCompared with the competition?
How do you propose to get there? How long will it take?
Who else is on the same path? Are they ahead of you or behind you?
What will kill your value?
Knowing the competitive landscape
•
Large number of smaller players
points to a start-up
•
Small number of larger players
points to a licence
•
Also informs exit...
Number of firms Size of firms
Start-up? Licence?
JV?
License to a mid-tier firm? Other options to
Research Catchment Hub Plan Selection and Strategy Exit Strategy 8. Start-up 8.License M&A, Trade Sale Royalty Annuity 1.Research 2. Discovery 3.Disclosure 4.PDD
5. 1st Cut
6. Full Screen
7. IP Protection
9. Investment
9. Clients
9. Partnership
Exit point – not commercially viable Start-Up License 8.Product/ Service
Pathways and partnering
–
UQ and UniQuest
Pathways–
compare as many possible
Research Catchment Hub
Partners
Experience required
Exit point
Plan Selection and Strategy Exit Strategy
8. Start-up 8.License M&A, Trade Sale Start-up License Royalty Annuity 1.Research 2. Discovery 3.Disclosure 4.PDD 5. 1st Cut
6. Full Screen
7. IP Protection
8.Product/ Service Comm Mgr UniQuest Analysts, UniQuest Internships Comm Manager, UniQuest, Patent Review Committee, Lawyer, Patent Attorney, Researchers Commercialisation in Practice MICD, GM, Researches Analysts, Lawyer, Patent Attorney, Project Team iLab Internship CSIRO Internship AIC Internship 9. Investment 9. Clients 9. Partnership Industry UniSeed, Angels, iLab Incubator, VCs,
Industry, Enterprize
C&R, International Projects, UQBS Commercialisation
UQ Business School - Grad School - UniQuest - JK Tech - - UniSeed - iLab INTERNAL PARTNERS
EXTERNAL PARTNERS Angel Network - Enterprise Connect - Accelerating Commercialisation–CSIRO – BTP – Lawyers– Patent Attorneys - Companies
SKILLS Technology Valuation Business Model Negotiation Partnering Planning Structures Governance Analysis IP Strategy IP Protection Project Mgmt Legal Pitching/Sale UQ
EDUCATION IP Management Commercialisation in Practice
UniQuest Internship Commercialisation Workshop
The Three Horizons Model
–
planning your technology trajectory
The Alchemy of Growth, Baghai, Coley & White
Horizons –
one to three – the future is
now.
Horizon 1:
• Your current technology position
Horizon 2:
• Leveraging your current technology to build your second generation technology
Horizon 3:
Your technology position may
change across horizons.
Rival?
Excludable? High
Low
High Low
Private Goods
Public Goods Common Goods
Collective Good
Main technology
Second tech
Financials
They reflect every other area
They help get finance and investment funding
Supporting
financials and
CRICOS Provider Number 00025B
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