Currall Energy Nano

Technology and Economic Development: Promoting the Formation of New Nanotechnology Start-up Companies Steven C. Currall, Ph.D.William and Stephanie Sick Professor of EntrepreneurshipAssociate Professor of Management, Psychology, and Statistics Founding Director, Rice Alliance For Technology and Entrepreneurship http://www.alliance.rice.edu3 May 2003: 

Technology and Economic Development: Promoting the Formation of New Nanotechnology Start-up Companies Steven C. Currall, Ph.D. William and Stephanie Sick Professor of Entrepreneurship Associate Professor of Management, Psychology, and Statistics Founding Director, Rice Alliance For Technology and Entrepreneurship http://www.alliance.rice.edu 3 May 2003

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Breakthrough technologies in energy or nanotechnology are often best developed by small groups of highly-skilled, risk-taking individuals. Many students in fields relating to the energy sector (e.g., chemistry) will be employed in start-up companies. ACS data showed that approximately 50% of doctoral students in chemistry going to the for-profit sector took jobs in companies of 50 or fewer employees. Why Emphasize Entrepreneurship?

Background: A Little History...: 

Background: A Little History... In every geographical cluster of high tech firms, three ingredients are present: Entrepreneurship“infrastructure” organizations Investment funding (e.g., venture capital) Universities as catalysts

Universities as Catalysts: 

Universities as Catalysts In every geographical cluster, universities have played a fundamental role: Silicon Valley: Stanford and UC Berkeley Boston’s Route 128: MIT Research Triangle: UNC, Duke, NC State Austin: U. of Texas

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Create the authoritative initiative at Rice to: Coordinate a forum for exchange among the science, engineering, and entrepreneurship communities Develop and actively facilitate team-based approaches for the study of and creation of new entrepreneurial business concepts, new jobs, and new sources of wealth for Rice and the U.S. economy Mission of the Alliance

Rice Alliance as Catalyst : 

Rice Alliance as Catalyst Rice faculty and administration (e.g., Science, Engineering, Management and others) Rice Alliance Current students (Science, Engineering, and Management) Rice alumni Houston’s Texas Medical Center (e.g., M.D. Anderson, Baylor, UT Health Sciences Center) and Gulf Coast Consortium Members of business community (e.g., entrepreneurs and large tech corporations) Houston area entrepreneurship organizations (e.g., Houston Technology Center, Texas eComm, MIT Enterprise Forum, TechExecs TiE, Texchange, et al.) Venture capital and investment community

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Identify Candidate Innovations Analyze Potential of Innovations & Formalize Business Plan Distribute Business Plan to Partner Network Alliance Formation of Teams G r o w t h Alliance identifies technical innovations via OTT and alumni network Networking opportunities for linking technical talent with business talent Courses on entrepreneur-ship and related courses “Business Thought Leader Speakers” Venture capitalists, angels, and alumni “Southwest Business Plan Competition” Assisted Commercial- ization and Early Stage Business Incubation Infusion of additional technical and/or management talent Prototype or “beta version” development From Innovation to Start-up Firm

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Equip researchers with knowledge of the process of company formation. Articulate what are appropriate roles for scientists and engineers in start-up companies. Promote proper interactions between academic researchers and members of the financial investment community. Alliance’s Entrepreneurship Education Workshop: October 2003

Alliance Forum Events: 

Alliance Forum Events All Alliance events are open to the public and promote interaction among business persons, technologists, and investors Entrepreneurs who present at Forum events get access to a "talent pool" of potential collaborators, mentors, and investors Forum events welcome involvement of individuals from large technology companies as well as service providers such as attorneys, accountants, and consultants

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Alliance has assisted the launch of 115 new technology businesses during its first three years of operation: Energy, nanotechnology, biotech, and information technology. The Rice Alliance has provided support to nanotechnology startups. The Rice Alliance: Commercializing New Technological Discoveries

Nanotechnology Firms Founded at Rice and Supported by the Alliance: 

Nanotechnology Firms Founded at Rice and Supported by the Alliance Three nanotech startup firms that have been assisted by the Rice Alliance: Molecular Electronics Corp. ($8M in angel funding) Nanospectra Biosciences, Inc. (Small Business Innovation Research funding; raised angel funding) Carbon Nanotechnologies, Inc. ($30M in two rounds of funding)

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Second annual Rice Alliance “Technology Innovation Forum” on nanotechnology, 24 January 2003 Annual Center for Biological and Environmental Nanotechnology “Nanodays” conference. Energy Innovation Forum, autumn of 2003 Get involved: http://www.alliance.rice.edu Houston Can Lead the Nation in Commercializing Nanotechnology