The Role of Higher Education in Technology Based Economic Development
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Emerging Ventures Ecosystem EVE The Role of Higher Education in Technology Based Economic Development
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Transcript of The Role of Higher Education in Technology Based Economic Development
Emerging Ventures Ecosystem
EVE
The Role of Higher Education in
Technology Based Economic
Development
Mission
EVE’s mission is to turn Entrepreneurs’
dreams into reality by accelerating the
commercialization of innovations out of
the University and into the market place.
What is EVE
EVE is the Emerging Ventures Ecosystem at
Rensselaer Polytechnic Institute we maintain a
store front at 216 River Street in Troy, NY
EVE is not a brick and mortar incubator rather it
utilizes a distributed model where services are
provided to the companies at their location
EVE has a close affiliation with the Centers of
Excellence at RPI and the other college based
incubators in the Region via Accelerate 518
History
RPI opened the first University based Incubator in 1980
There have been 8 directors over the last 31years.
Some of the notable successes include:
Map Info, Albany Molecular Research, Vicarious Visions,
1st Playable, Bullex and eCovative Design
EVE was introduced on February 7, 2011 representing
the new paradigm in incubation – utilizing a Distributed
business model
Current Status
Starting with 8 companies in February 2011 we
now have 32 companies in EVE
The mix includes student, faculty and alumni
companies as well as companies who are not
affiliated with RPI
Market segments include: software, clean tech,
bio, nano, gaming, ecommerce and internet
companies
They range from pre-seed (developing an idea),
to seed (working demo and pre-revenue) to
emerging (early revenues)
What services does EVE provide
Mentoring and Coaching
Access to RPI resources-Centers of Excellence
like CATS, CFES, and CASE for technical
evaluations, prototyping, consulting
CEO Round Table
Business Plan development and review
Marketing and Sales planning
Help Desk and Professional Services
Networking Events and Memberships-CEG,
Chambers, etc.
Interns
Services continued…..
Development and review of Quarterly goals and
objectives
Identification and assistance recruiting key staff
and temp resources
ID Card access to on campus programs
including the library, athletic facilities and guest
speakers
Assistance preparing Investor/Funding
presentations
Introduction to Angels and VC’s
Services continued…
Limited financial assistance for memberships,
events, prototyping, market studies, business
plan competitions
Annual Show Case
Business Model
Companies do not pay for our services
RPI is compensated in one of the following
ways:
– Students and Faculty develop IP which RPI owns and
licenses
– Companies license Technology and RPI gets a
royalty
– Companies use RPI resources to assist in developing
technology, prototyping, analysis or consulting and
RPI gets equity
– Combination of Equity and Royalty
How do the pieces fit together
Severino Center-Idea Stage
– Student Sandbox
– Mentors
– Marketing Grants
EVE – Incubation
– Focus on Quarterly Goals
– Mentoring/Coaching
– Professional Services
EVE – Acceleration
– Focus on Funding
– Sales and Marketing
– Staffing
Severino CenterEIR’s
Foundry RPIBiz Plan Comp
Burhmaster Grants
Alumni Mentors/Advisors
Placement in Ideally Suited
Location • Downtown Troy• Other Incubators• Watervliet Arsenal• Renss. Tech Park
Incubation Program
• Support programs• Advisory Boards
Fund•Alumni Investors
•Investment Mgmt Board
Research
Pre Seed Seed – Early Stage
Acceleration –Early Stage
Emerging Ventures Ecosystem (EVE)
Institute Advancement
12
RPI Centers of Excellence
CATS- Center for Automated Technologies and
Systems http://rpi.cats.edu
CASE-Center for Architecture Science and
Ecology http://rpi.case.edu
CFES-Center for Future Energy
Systemshttp://www.rpi.edu/cfes
LRC-Lighting Research Center
http://www.lrc.rpi.edu/
Office of Technology Commercialization
Close affiliation with EVE
Goal to increase the number of patents issued
and the revenue from licenses
Streamlined Student License
Developing an Express License for Faculty
IP generated from Sponsored Research as well
as Independent Research – Student and Faculty
Individuals can purchase licenses from RPI
http://rpitechnology.com/
