The document discusses commercializing scientific research from a venture capital perspective. It provides background on the author and their firm Highland Capital Partners. It then discusses the venture capital investing environment, the tech transfer environment at universities, and criteria for evaluating investment opportunities. The document concludes by presenting several case studies of successful companies spun out of universities that received venture capital funding, and emphasizes the importance of backing exceptional people.
1. F E B R U A R Y 2 0 0 7 Commercializing Science: A Venture Capital Perspective R O B E R T F. H I G G I N S H A R V A R D B U S I N E S S S C H O O L S C I E N C E – B A S E D B U S I N E S S S E M I N A R
11. Deal Flow & Equity into VC-Backed Companies Amount Invested ($B) Number of Deals Source: Dow Jones VentureOne/Ernst &Young $25.7 2454 2006
12. Where are the VC dollars going? Dollars Invested 2006 IT 54% Other 4% Business & Consumer 10% Healthcare 32% Biopharma 57% Healthcare IT/IS 5% Healthcare Services 6% Medical Devices 32% Source: Dow Jones VentureOne/Ernst &Young $25.7 Billion $8.2 Billion
16. 0 0.5 1.0 10 5 0 1.5 15 US patents (in ‘000s) filed issued Net license income $B US University Patents & Licensing Trends 93 94 95 96 97 98 99 00 01 02 03 Source: The Economist & Association of University Technology Managers
17. Milken’s “Top Ten” Rankings Source: The Milken Institute Mind to Market: A Global Analysis of University Biotechnology Transfer and Commercialization, September 2006 By Number of Publications By Number of Patents Issued By Number of Start-ups UCLA 10 Univ of Wash 9 Wash U, St. Louis 8 Johns Hopkins 7 UCSD 6 UPenn 5 UCSF 4 University of London 3 University of Tokyo 2 Harvard University 1 University Rank Penn State University 10 Harvard University 9 Univ of Michigan 8 Univ of Chicago 7 UCSF 6 Univ of Wisconsin 5 Johns Hopkins 4 Stanford 3 MIT 2 CalTech 1 University Rank Univ of Minnesota 10 UPenn 9 USC 8 Univ of Illinois 7 Univ of Michigan 6 Stanford University 5 Georgia Tech 4 Caltech 3 Univ of CA System 2 MIT 1 University Rank
18. Overall “Top Ten” in Tech Transfer Source: The Milken Institute Mind to Market: A Global Analysis of University Biotechnology Transfer and Commercialization, September 2006 Milken’s “University Technology Transfer & Commercialization Index” 2000 – 2004 *** Harvard University New York University University of Michigan University of British Columbia Brigham Young University University of Minnesota University of Florida Stanford University Caltech University of CA System MIT University 10 18 9 8 7 6 5 4 3 2 1 Rank
41. F E B R U A R Y 2 0 0 7 Commercializing Science: A Venture Capital Perspective R O B E R T F. H I G G I N S H A R V A R D B U S I N E S S S C H O O L S C I E N C E – B A S E D B U S I N E S S S E M I N A R
Notes de l'éditeur
Mention what Kent asked you to speak about what VCs look for when commercializing science Greg Verdine, Eric Lander, etc. have already spoken at seminar