Meeting the challenges of Technology commercialization in

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Meeting the Challenges the Commercialization
Process
Nebraska Innovation Forum March 30, 2006

• Tom Walker
• Exec. VP and COO, i2E, Inc.

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Meeting The Challenges

• i2E Overview
• Navigating Business Growth
• Business Capital Lifecycle
• Commercialization Model

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About i2E

• Founded in 1998
• Private not-for profit Oklahoma Corporation
• Offices in Oklahoma City and Tulsa
• Staff of 12

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Mission

• Home grown economic development by
• fostering the birth and
• nurturing the growth of
• advanced technology companies
• in Oklahoma

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Our Goals

• Increase the Number of Knowledge-Based Companies
• Develop and Grow Financing Resources
• Accelerate Technology Commercialization and
  Wealth Creation

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Our Products

• Proof-of-Concept Capital
• Alternative Funding Sources
• Commercialization Services
• Entrepreneurial Resources

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Partner Brands

• Oklahoma Technology Commercialization Center
• OCAST initiative founded in 1998
• Technology Business Finance Program (TBFP)
• OCAST initiative founded in 1999
• Reynolds Governors Cup
• Privately Sponsored initiative founded in 2005
• Enterprise Oklahoma Venture Fund (EOVF)
• Private 6.2 MM fund founded in 2002

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Typical Day
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Our Services

• Technology/ Innovation Services
• Enterprise Development Services
• Networking
• Access to Capital

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Technology Innovation Services

• Technology Market Reviews
• Commercialization Road Maps
• University Outreach

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Enterprise Development Services

• Technology, Market Competitive Assessment
  Research
• Comprehensive Strategy Business Plan Review
• Emerging Enterprise Evaluation Workshop
• Development Critique of Investor Presentation
• Introduction to Capital Sources

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Networking

• Emerging Enterprise Evaluation Workshop
• Tech Night Out
• Award Events
• Governors Cup

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Access to Capital

• Grant Writing Assistance
• Technology Business Finance Award Program
• Angel Investors, Gap Specialty Interest Funds
• Enterprise Oklahoma Venture Fund I
• Venture Capital Funding

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Results

• 1100 entrepreneurs interviewed
• 600 companies pursuing commercialization
• 150 have secured 300 million in equity
  investment
• 145 million paid in exit events

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Navigating Business Growth

• New Product Innovation
• Product Validation
• Market Validation
• Profitable business model
• Capital Plan
• Go-to-Market Strategies
• Execution

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Commercialization Roadmap
Guiding Principles

• Complete each stage
• Focus product, market and business
• Reduce risk by completing activities
• Use activities as milestone markers
• Achieve market validation ASAP
• Develop a profitable business model

The ideals which have lighted my way and time
after time have given me new courage to face life
cheerfully, have been kindness, beauty and truth.
Albert Einstein
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Featured in
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Meeting the Challenges the Commercialization
Process
Nebraska Innovation Forum March 30, 2006

• Tom Walker
• twalker_at_i2E.org
• www.i2E.org