Economic Development Update · The global precision farming/agriculture market totaled nearly $3.3...

Office of Economic Development and Industry Relations

Economic Development Update

Dr. Michael CrumVice President, Economic Development and Business Engagement


Noteworthy News at ISU

Iowa State became an NSF I-Corps Site in 2017.

Iowa State received an i6 grant from the U.S. Department of Commerce Economic Development Administration to support startup companies in the food and food-related industries.

Iowa State won the Innovation and Economic Prosperity University TALENT AWARD from the Association of Public and Land Grant Universities (APLU). The award honors an institution with exemplary initiatives in education and workforce development.


Technical Assistance FY17Center for Industrial Research and Service

About

• Administers four programs• Procurement Technical

Assistance Program• Manufacturing Extension

Partnership Program• Economic Development

Administration University Center Program

• Technology Assistance Program ($1.366M approp.) Industrial Incentive Program Non-directed Applied Research Directed Technical Assistance

Technology Assistance Program

Served 379 companies

$164.1M economic impact

375 jobs created or retained


About

• ISU administers State Network• 15 regional centers (4 hosted by

Regents Universities; 10 hosted by community colleges)

• No fees assessed• State appropriation $1.036M

Federal appropriation $1.152MLocal match $0.574M

• State funds leverage federal funds

Iowa Small Business Development Centers

Business Assistance FY17

Each month SBDC helped clients:

Raise more than $9M capital Increase sales by more than

$9.3M Create more than 150 new jobs Start 24 new businesses


Technology Transfer FY2017

• ISU currently has 199 license and option agreements yielding income.

• Last year ISU technologies resulted in 85 license and option agreements globally with 39 in Iowa.

• Iowa companies earned $9.9M revenue from ISU licensed technologies (worldwide revenues were $95M).

• Eight startup companies based on ISU technologies were formed in Iowa.


About

• Projects pair ISU faculty with Iowa companies

• Provides critical source of gap funding

• Since inception: 151 projects funded 130 projects completed >100 Iowa companies

participated 53 startups received funding

Regents Innovation Fund (RIF) Commercialization Program Summary

Impacts

$17.6M in externally funded projects (approx. $3 generated for every $1 invested in research)

34 new invention disclosures

32 new technology firms enabled by this funding

314 research publications


ISU Research Park FY17

• New commercial

• Established Iowa companies

82 Companies and Research Centers plus 13 Affiliates

30 pre-incubator companies 13 new companies in FY17

2,000+ Employees (+150 with affiliates)

250+ Interns

Since Inception 325 Existing Companies5,029 Existing Employees


Startup Factory

About• A 52-week intensive program -

formal training, resources, and access to a network of business mentors, advisors, counselors and investors

• Companies align with strategic platforms:

7 Digital/Precision Ag2 Biobased products1 Vaccines/immunotherapies1 Medical devices

Impacts

• >$6 million in venture financing raised

• 45 companies started program, 36 still active

• >48 jobs created


Solving Real Problems

With Real Solutions

Through Big Ideas

DecisionPxETALYC – Emerging Trend Analytics


2,500Iowa

Internships

1000Iowa

companies268

communities

5,000Students

Entrepre-neurship, startup, &

small business classes

and programs

134Eng.

capstoneprojects

112projects

with

54 Iowa companies

250+Interns at the ISU

Research Park

12Business teams

16Students

43Projects

91 Students

Iowa State University has a 95% placement rate for new graduates within 6 months of graduation.

Workforce Development


Contribution to State Economic Development Initiatives

• Participation with IEDA and Innovation Council• Pathways Workgroup• Advanced Manufacturing Workgroup• Bioscience Workgroup

• ISU-Led Bioscience Industry Platforms• Vaccines and Immunotherapeutics (Balaji

Narasimhan)• Precision and Digital Agriculture (Pat Schnable)• Biobased Chemicals (Brent Shanks)• Medical Devices (led by U. Iowa)


• Global vaccine market revenue is $33B with 6% growth through 2021

• Animal vaccine segment is $6B with 5% growth through 2021

• Iowa is well-positioned to be a leader in R&D-driven innovation and economic growth in this area

• Unique confluence of leading vaccine companies, USDA research and regulatory facilities, and ISU and UI’s research expertise and capabilities

• Coordinate triangulated assets and expand partnerships that will lead to economic development

• Impact: Reduced use of antibiotics in food animals; more efficient production agriculture; and efficacious and easy-to-administer vaccines for livestock

Vaccines and Immunotherapeutics Platform

Ecosystem for Animal Health and Vaccines in Iowa


• Research: Nanovaccine Institute, Center for Food Security and Public Health, Institute for International Cooperation in Animal Biologics, Antimicrobial Research Initiative

• Examples: Vaccines against swine and avian influenza, bovine RSV

• Tech transfer• ISURF-licensed technologies have led

to vaccine-related start-ups at the ISU Research Park

• Industry partnerships• Collaborations with multiple companies

on vaccines and therapeutics• Workforce development

• Interdepartmental Microbiology, Immunobiology programs

• Veterinary Biologics training program

ISU’s Innovation Ecosystem for this Platform


Precision & Digital Agriculture Platform

• Iowa is the largest corn and soybean producer in the U.S. In 2017, U.S. produced 14.6B bushels of corn & 4.39B bushels of soybean. Of that, Iowa’s contribution to corn and soybean production were 2.6B (~18%) & 562M bushels (~13%) respectively [USDA].

• The global precision farming/agriculture market totaled nearly $3.3 billion in 2016 (and is expected to hit $5.9B in 2021) – representing a fast-growing market

• Iowa’s strengths that can be leveraged for precision & digital agriculture platform:o Existing agricultural machinery cluster engaged in research and commercialization activitieso Network of ISU research stations and commodity groups’ on-farm researcho ISU’s top-ranked graduate agricultural engineering program (ranked #1 by U.S. News & World

Report, 2017)o ISU’s strengths in “big data” analytics and the plant sciences

Impacts: o Enable farmers to optimize timing, amount and placement of seed, fertilizer,

pesticides, irrigation and other inputs to maximize yield with minimum input costo Increased yield stabilityo Significant investments opportunities by start-ups and existing Ag-related

companies


Precision & Digital Agriculture Platform

• Sensors/Phenotyping systems• Remote sensing• Guidance systems• Systems for monitoring and

handling waste streams/emissions• Controls and interfaces• Software and analytical systems• Real-timed decision support• Cloud and remote services• Variable rate input application

systems

Data analyses & futures markets

Reduced production costs, increased profitability and yield stability & smaller environmental footprint

UAVs, robots, & sensors


EnGeniousAg

Start-ups

Workforce Development


Biobased Chemicals Platform

• U.S. chemical market is >$250B/year which is nearly that of fuels.

• Iowa leads the nation in deployed capital in the agricultural processing industry.– Economics of agglomeration opportunity

• First in the nation biobased chemical production tax credit (2016).

• Iowa is acknowledged as a national leader in biobased chemicals.

• Iowa has an emerging biobased chemicals innovation ecosystem.

• Impact: Value-added use of agricultural products that creates wealth across the state. Biobased chemicals can lead to products with new performance properties while being renewable.

http://www.cultivationcorridor.org/assets/pdf/Iowa-Biobased-Chemicals-Full-Report.pdf


• Research: • Center for Biorenewable Chemicals (CBiRC)• BioCentury Research Farm• Center for Metabolic Biology• Center for Bioplastics and Biocomposites• Bioeconomy Institute (BEI)• Center for Crop Utilization Research

• Tech transfer (CBiRC)– >40 invention disclosures– 8 startups to date– 7 STTR/SBIR grants– 2 pre-paid license agreements

• Industry partnerships– 49 CBiRC members since inception– 24 CB2 members since inception– RAPID biorefinery projects (BEI)– Numerous industry-sponsored projects

• Workforce development– Technology-led entrepreneurship course– Pre-college STEM education

Examples of Large Member Companies:

ISU biobased chemical

Methyl paraben2-Phenoxy ethanol

Preservative

25 mm

22 mm

15 mm

ISU’s Innovation Ecosystem for this Platform


Innovation Ecosystem Established by CBiRC

TECHNOLOGY

INDUSTRYUNIVERSITY

Early Stage ResearchIowa State University led

Early Stage Translationto Startups and Industry

Industry Members fromUSA, Europe and Japan


TECHNOLOGY

UNIVERSITYConnect with additionalISU and UI centers

Support commercial development

INDUSTRY

ECONOMIC DEV

Industries in IowaIndustries locating in Iowa

Seamless connection with:Iowa Economic DevelopmentVenture Capital

New Innovation Ecosystem: Biobased Chemicals


Possible Platform Partnership System

PLATFORMX

Iowa State University (ISU)Platform Director

Lead CenterRelated Centers and Programs

Iowa Biodevelopment Center (IBC)Platform Manager / CTO

Bioscience Platform Advisory Committee (BPAC)Industry and Commodity Groups, Venture / Angel Capital,

National Labs, University and Regional Partners, IEDA / IIC, ISU

Economic Development Update · The global precision farming/agriculture market totaled nearly $3.3...

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