Venture philanthropy is rising in the ranks of options for university TTOs to fund not only research, but start -ups as well. This fresh approach to funding R&D and IP commercialization takes concepts and techniques from the venture capital finance and traditional philanthropy development worlds and combines them to help fund promising technologies and spinouts.
Two prime examples of venture philanthropy are having a big impact on gap funding at Purdue University: the well-established Trask Innovation Fund (focusing on proof of concept and prototyping), and the newly redesigned Emerging Innovations Fund (which bridges the gap between the enterprise formation and third-party equity financing).
Each fund is unique in its set-up, management and deployment of funds and each is successfully helping to turn university innovations into market-ready products and companies. To help other schools learn from and adapt these venture philanthropy models, Technology Transfer Tactics’ Distance Learning Division has recruited the team that oversees the funds to provide detailed guidance on how to establish your own fund within your university.
Please join Jonathan Gortat and Vicky Montenegro from Purdue’s Office of Technology Commercialization for this practical one-hour program:
Venture Philanthropy for Technology Transfer:
Establish a New Funding Source for Your Innovations
Here’s what your colleagues from Purdue’s OTC will discuss:
- The how-to’s of forming, managing and administering a philanthropic venture fund
- Step by step advice on how to build a fund within your university\
- History on each of the venture funds came to be
- Collaborating rather than competing with the Development Office
- Internal and external marketing strategies
- Targeting donors with pitches focused on innovation
- The legal structure of each fund, and why these options work
- How the funds are handled administratively
- How funds are distributed
- How each fund has evolved over time
- Lessons learned from each evolutionary stage
Meet Your Presenters:
Jonathan Gortat, Project Manager in the Purdue Office of Technology Commercialization, is responsible for all aspects of technology transfer including invention evaluation, patent prosecution and strategy, negotiation of agreements, and commercialization strategy. He is also coordinator of Purdue Research Foundation’s Emerging Innovations Fund.
Vicky Montenegro, Project Manager in the Purdue OTC, is responsible for managing the invention disclosures from Purdue University’s College of Agriculture. As a manager, she oversees the evolution of the disclosed innovations through the process that takes these innovations from the university’s laboratories and experimental fields to their licensing to industry for commercialization.