Learn how to implement an effective outsourcing strategy to reduce your backlog of invention files, get more deals done, and boost faculty relations
When tech transfer leaders at Texas Tech University Systems (TTUS) found their office with a backlog of 300 inventions and insufficient in-house staff to adequately evaluate all of them, they made a carefully crafted move to team with Austin, TX-based LGE Execs to outsource their evaluation, management, and financing functions. The result: more of the university’s IP is pushed forward, more licensing deals are completed, and more faculty members are satisfied that their inventions are getting the attention they deserve.
If your TTO, like most, is sitting on some promising technologies but lacks the bandwidth and/or expertise to move them toward commercialization, it may be time to consider the growing number of options for outsourcing. With a variety of risk-reward structures that can limit out-of-pocket costs, the outsourcing strategy is gaining favor – particularly now as more tech transfer offices struggle with staff and budget crunches, making it even harder to handle a backlog of promising innovations and disclosures. As a result, opportunities are missed, and faculty researchers become frustrated. When structured and managed effectively, outsourcing is helping an increasing number of TTOs get more IP assessed, developed, and licensed while freeing up staff time and helping solidify faculty relations.
That’s why Technology Transfer Tactics’ Distance Learning Division has lined up Amber Dean, associate managing director in Texas Tech’s Office of Technology Commercialization, and Newt Hamlin, chairman of Texas Multicore Technologies, a company formed to commercialize technology from TTU, for an enlightening audio program:
Successful Outsourcing for Tech Transfer Organizations
The decision to outsource tech transfer work must be considered carefully, planned carefully, and managed carefully to ensure optimal results. This nuts-and-bolts program will offer insight into:
- Why TTUS chose to outsource
- What functions were outsourced and why
- Who they outsourced to and why (not all functions left the university system)
- The cost savings and productivity gains produced by outsourcing
- How TTUS created more jobs using an outsourcing strategy
- Lessons learned
- A before-and-after look at TTUS’ technology commercialization efforts—you’ll be amazed at the results!
- The benefits and challenges of outsourcing in regard to:
- technology assessment and triage
- networking and partnership opportunities
- faculty relations
Your Expert Panel
Amber Dean – Associate Managing Director – Office of Technology Commercialization
Amber joined the Texas Tech University System in May of 2008 and since then helped increase invention disclosures by 39% and license agreements by 275%. Prior to her current role, Amber was Vice President of Business Development for a $3B Lubbock-based banking institution. Her expertise is in the areas of marketing and business development, and after joining the TTU-OTC staff she has used that expertise to market/license over 300 university technologies to industry and investor partners along with fellow colleagues in the OTC. Since joining Texas Tech, Amber has assisted in most all of the negotiations of the 10 license agreements executed in 2008 and the formation of two start-up companies, and currently manages a portfolio of over 100 inventions.
Newton F. Hamlin – CEO of SEAM Aero and active chairman of Texas Multicore Technologies
Currently Newt serves as CEO of SEAM Aero, a company based on engineering IP developed at the University of Oklahoma that provides state-of-the-art technologies for maintenance, repair and overhaul of public and private aerospace companies and defense facilities. He also serves as active chairman of Texas Multicore Technologies, an Abilene, TX company formed to commercialize technology from Texas Tech University. TMT is finalizing development of a new software language that provides maximum efficient use of multicore chips. In addition Newt provides management, governance, fundraising and M&A advice to a wide range of companies, including one that is resurrecting and redesigning the world’s first composite airplane, the Windecker Eagle. Over the past 38 years Newt has founded, or served as CEO or director, of companies in the software, hardware, marketing consulting, financial services, medical research, third party logistics and food products industries. In 2005 he co-founded Westlake Securities, a leading Austin-based boutique investment bank. Newt has been involved in raising more than $240 million in growth capital, and has provided M&A advisory services for a dozen companies. Technology transfer and commercialization of IP from US and European universities has been Newt’s business passion since the mid-90s.