Sn

1
Technology Commercialization Through Spin-off
Companies
Karel Klusacek Technology Centre AS
CR Prague klusacek_at_tc.cas.cz
2
Technology exploitation

• Technology exploitation - how to convert a
  knowledge to money (while research converts money
  to a knowledge)
• Technology transfer university traditionally
  license their technology to established companies
• Technology commercialization formation a new
  company (by a university) around a new technology
  spin-off companies

3
Technology Value Build Trajectory
Internal
Incubator
Own premises
UNIVERSITY ROLE
100
ENTRANCE TO INCUBATOR
Public Shareholders
Remaining risk
Points of change Option for exit by SELL (or
LICENSE) or continue BUILD
IPO
of final value
80
Late VC
COMPANY FOUNDED
VALUE ADDED BY INCUBATOR
60
Seed Funds / Early VC
40
Business Angels
20
Family, Friends and Fools
0
1
2
3
4
6
7
8
5
years
Source ETeCH AG, Switzerland
4
Income generated by technology exploitation
Academic year 2000/2001 M.I.T. Stanford University University of Cambridge University of Oxford
Royalty income 26.6 m 50 m 2.4 m 4.2 m
Equity income 55.6 m 2.12 m Not published Not published
of research budget arising from technology exploitation 9.7 9.1 1 1.8
5
Investment into spin-offs an example from
Cambridge