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Title: Commercialization Council venture news
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Title: Commercialization Council venture news
Series Title: Commercialization Council venture news
Physical Description: Serial
Creator: University of Florida Commercialization Council
Publisher: University of Florida Commercialization Council
Publication Date: Spring 2005
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Bibliographic ID: UF00088889
Volume ID: VID00007
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Table of Contents
    Venture capital
        Page 1
        Page 2
    Partnering
        Page 3
        Page 4
    Start-up success
        Page 5
        Page 6
        Page 7
Full Text
Venture Newsletter


Commercialization Council
* UNIVERSITY OF

"5FLORIDA VENTURE NEWS


'CetngaMr ]IViban Enrereeui alCltr an Flatli.mn th Iu-asu Comecaz1o of iFBae reho ies'


Spring 2005


Members of the
Commercialization Council

Office of Technology Licensing
David Day Director
Jane Muir Associate Director


Univ. of Florida Foundation
Christopher Needles
Assistant VP/Development


Sid Martin Biotechnology
Development Incubator
Patti Breedlove Incubator Mgr.


The University of Florida is playing a major role in developing the
state's development as a technology business hotbed. In this issue
you will read about the impact our start-up companies are having
on Florida 's economy, as well as a number of initiatives to connect
investors with promising new technologies. This is an exciting time
to be involved with commercialization at UF!


VENTURE CAPITAL

Investment in UF Start-ups Pays Dividends to Florida
Economy

Companies based on University of Florida technologies contribute
nearly half a billion dollars to Florida's economy annually, according
to an analysis by UF's Center for Building Better Communities.
Florida Gov. Jeb Bush praised the economic impact results and UF's
efforts to grow biotech companies.

"It's vitally important that we continue our efforts to help start-up
companies get technologies from the university laboratories to the
marketplace in order to strengthen Florida's economy," Bush said.

The study, commissioned by the UF Economic Development
Administration University Center housed in the UF Office of
Technology Licensing, analyzed the 2003 revenue of 61 companies
with connections to UF, records from UF's Office of Technology
Licensing, and garnered additional information from 34 of the
companies that responded to a survey.

The 2003 direct impact of the companies was measured at $186.2
million this includes sales, jobs and income generated by the
companies. Indirect and induced impacts (the economic activity
generated by businesses selling goods and services because of the
presence of the UF-connected companies, and the economic
activity generated from spending by employees of those
companies, respectively) totaled another $270 million, for a total
impact of $456.2 million. The analysis also indicated direct
employment of 921 people and total employment direct, indirect
and induced of 1,925 jobs in Florida.

"For every dollar of revenue generated, another $1.44 is generated
in the Florida economy," said project manager Rhonda Phillips,
Director of the Center for Building Better Communities in UF's
College of Design, Construction and Planning. "And for every job


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The Commercialization Council
is funded by the

Office of the Vice President for
Research

Dr. Winfred M. Phillips
Vice President for Research

PO Box 115500
(352) 392-1582
http://rgp.ufl.edu


The UFCC Venture e-newsletter is
sent to you by the University of
Florida Commercialization Council.

To be removed from the UFCC
Venture mailing list, please email
jmuir@ufl.edu.


The information contained in UFCC
Venture may not be reproduced
without the permission of the
University of Florida
Commercialization Council.


created by these companies, another 1.08 jobs is created in the
Florida economy."

Win Phillips, UF's vice president for research, said the analysis
confirms that university technology transfer is a significant
contributor to the Florida economy.

"As the university continues to evolve in the 21st century, its role
in helping position Florida as a high-tech powerhouse will be even
more important," Win Phillips said. "An emphasis on science and
research will increasingly make the state a preferred destination for
technology workers and other 21st-century professionals."

David Day, director of the Office of Technology Licensing, said that
until recently UF technologies were licensed primarily to major
corporations.

"But many major corporations have chosen to let smaller start-ups
lay the groundwork for new technologies, with an eye toward
acquiring the most successful of those companies," Day said, so
beginning in 2001 the university also concentrated on licensing its
emerging technologies to start-up companies that could nurture the
science. Since then the number of new licenses has grown
dramatically, from eight in 1999 to 64 in 2004, with more than 20
percent of them being to new or existing UF start-ups.

For example, in December, UF start-up NeuroBionics Corporation
announced completion of a $6 million Series A private equity
financing co-led by Sprout Group and Three Arch Partners. Even
more recently, EnviroFlux a start-up company born of the
university's Integrated Technology Ventures (ITV) program -
achieved an important milestone by being accepted for admission
to the Gainesville Technology Enterprise Center (GTEC).

For more information about these and other UF start-up companies
and investment opportunities, visit the Office of Technology
Licensing's Start-Up Companies page at
http://www.rgp.ufl.edu/otl/startup.html.

UF Again a Leader in Licensing Income

The Association of University Technology Managers (AUTM)
released its annual survey of 232 U.S. universities, hospitals, and
research institutions. The University of Florida once again ranked in
the top 10 in revenue from licensing income, as it has since the
inception of AUTM's survey in 1991.

UF's Office of Technology Licensing also ranked 6th in money
invested in patenting activities, 7th in number of start-ups formed,
and 8th in number of invention disclosures received, with faculty
submitting nearly 300 new discoveries during fiscal year 2003.

This year's survey focused on the far-reaching impacts of
technology transfer, such as making life-changing products
available to consumers and helping form new companies and jobs.
Survey respondents reported 374 new companies based on an
academic discovery were formed during fiscal year 2003. As
reported in the Chronicle of Higher Education, more than one-


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quarter of these start-ups came from seven institutions that each
created 10 or more companies: the University of Florida, along with
the University of California system, the University of Pennsylvania,
Cornell and Stanford Universities, and the Georgia and
Massachusetts Institutes of Technology.

One of UF's start-ups, Applied Genetic Technologies Corp. (AGTC),
closed on a $15.25 million series A-1 round led by InterWest
Partners of Menlo Park, CA. AGTC is using the funds to complete
phase I human clinical trials and phase II/III manufacturing for a
gene therapy treatment for a form of emphysema that is the most
common potentially lethal hereditary disease among adults in the
United States.

The Food and Drug Administration recently cleared the way for
Oragenics, another UF start-up which went public last summer, to
begin human clinical trials on a gene-related treatment for tooth
decay.

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PARTNERING

UF Joins Florida High Tech Corridor Council

In an effort to expand technology-based jobs across central Florida,
UF recently joined the Florida High Tech Corridor Council, which
connects universities and area companies willing to pay for
research expertise to improve business prospects. Membership in
the regional economic development body which includes Tampa 's
University of South Florida and the University of Central Florida in
Orlando will potentially open doors to companies from the Tampa
Bay area all the way to the Space Coast.

Benefits of the new collaboration include numerous partnership
opportunities for UF faculty and students to work with Corridor
companies and institutions that provide matching funds to
underwrite research projects. It also significantly expands potential
ROI in UF-based companies, further leveraging the economic
impact of our spin-offs.

According to Win Phillips, UF's Vice President for Research, the
Corridor council is a key to creating a regional high-tech hub in
central Florida similar to North Carolina's Research Triangle. The
geographic area spanned by the 23 counties represented on the
council is roughly the same size as California's Silicon Valley.

2005 Corporate Leaders Summit, "Medical Technology
Innovation at UF: Emerqinq Business Opportunities"


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The UF Foundation has organized a day-long event that will feature
many of UF's most exciting innovations in medical technology and
will address current industry trends and emerging business
opportunities. The 2005 University of Florida Corporate Leaders
Summit will be held Friday, May 13 at the Hilton UF Conference
Center in Gainesville.

The outstanding lineup of industry leaders slated to speak at this
event includes:

The keynote address will be delivered by John Brown,
Chairman of the Board at Stryker Corporation who is one of
the renowned leaders in the orthopaedics device industry
The luncheon address will be given by David Holveck,
President of Johnson & Johnson Development Corporation,
the new venture creation arm of J&J
An interactive, capstone panel discussion that will feature
three prominent UF alumni: Jeff Gold of Cryovascular
Systems, John Sheets of J&J/Ethicon and Reggie Groves of
Medtronic, as well as Richard Tarr of J&J/DePuy

In addition, there will be presentations by UF faculty and
administration highlighting areas of excellence in medical
technology research. The event will culminate with a cocktail
reception at the new UF & Shands Orthopaedics and Sports
Medicine Institute.

The event is free of charge but attendance is by invitation only. For
more information about the Corporate Leaders Summit, contact Jim
Feeney at (352) 392-0838 or jfeeney@uff.ufl.edu, or visit
www.uff.ufl.edu/stakeholders/ CorporateLeadersSummit

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TRAINING


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SBIR Seminar

The UF EDA University Center will once again bring national experts
Gail and Jim Greenwood to UF to give a workshop on SBIR/STTR
application process. The Greenwoods will be here sometime in
Spring 2005.

Second Annual Florida Tech Transfer Conference

The University of Florida is helping to ensure the second annual
Florida Tech Transfer Conference will be an even greater success
than the first. Last year over 400 people discovered more than 100
new technologies from 11 of Florida's research universities.

This year's event, to be held May 18-19 at the Hilton Walt Disney
World in Orlando, will feature technologies from UF as well as
Florida State University, Florida A & M, University of Miami, Florida
Atlantic University, Florida International University, Nova
Southeastern University, University of Central Florida, University of
North Florida, University of South Florida, and University of West
Florida.

Partnering with the Florida Research Consortium, Tampa Bay
Technology Forum, and Central Florida Technology Partnership, UF
will help present technologies with significant commercial
potential in Biomedical, Defense, Security, Lasers & Optics,
Software, Simulation, and MEMS/NEMS. Another highlight of the
event will be the Innovation Florida Showcase, a full day of
presentations from Florida's most promising university spinout
companies seeking early stage capital.

The conference welcomes industry professionals, investors, and
entrepreneurs to what will be an impressive display of emerging
technologies and commercialization opportunities from the state's
leading research universities. For more information, visit the
conference website at www.flatechtransfer.org.

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START-UP SUCCESS

ITV Efforts Produce Start-up: EnviroFlux

One of the first projects undertaken by a student team in UF's
Integrated Technology Ventures (ITV) program, EnviroFlux has
successfully applied to become a resident of the Gainesville
Technology Enterprise Center (GTEC), a local technology business
incubator.

ITV companies are composed of a CEO, a business development
team of business students (coached by entrepreneurial faculty),
and a multidisciplinary technology development team of
undergraduate engineers (coached by engineering faculty). The
company is supported by a variety of commercialization specialists


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from the Office of Technology Licensing, Center for
Entrepreneurship and Innovation, and the Integrated Product and
Process Design program.

Designed to provide engineering and business students with an
intense, immersive entrepreneurial experience, the ITV program
organizes a virtual company around a UF-developed technology.
The platform technology used by EnviroFlux, for instance, is the
Passive Flux Meter (PFM) designed by UF Associate Professor Kirk
Hatfield of the Department of Civil and Coastal Engineering, along
with Professor Michael Annable, Dr. Palakurthi Rao, Assistant
Professor James Jawitz, Dr. Harald Klammler, John Cherry, Beth
Parker, and Dr. William McDougal, Director of the UF Coastal
Engineering Lab. Dr. Hatfield and Dr. Annable serve on the
EnviroFlux Board of Directors.

EnviroFlux made headlines last year when it won first prize in the
undergraduate category of the Howard J. Leonhardt Business Plan
Competition. After developing a successful alpha system prototype
for the competition, the EnviroFlux team decided to take the next
steps to get their product to market.

"In addition to being a rewarding experience for me and for my
student co-workers," said Jared Kennedy, a serial entrepreneur
recruited by UF's Office of Technology Licensing to serve as CEO of
the EnviroFlux business team, "EnviroFlux offers a much-needed
solution to an expensive problem for property owners faced with
environmental clean-up."

EnviroFlux estimates that there are tens of thousands of industrial,
commercial, former Department of Defense and Department of
Energy sites that need to be evaluated for groundwater
contamination its type, severity, and spread. These two agencies
alone spend $50 million per year on such site assessments. The
company's PFMs will be manufactured by National Screen
Corporation of Milton, Delaware. Targeting mid-to-large size
environmental consulting firms, EnviroFlux will place orders on a
project-to-project basis until the sales volume reaches a steady
rate of growth that would enable forecasting of future PFM
requirements.

"Each of these business model and strategy decisions were the
responsibility of our ITV student team," says team member Matt
Tillman, VP of Sales and Marketing for EnviroFlux. Tilman's B.S. in
electrical engineering and MBA are from UF. He spent five years as
Sales Territory Manager for telecommunications test equipment
manufacturer Acterna. Other team members who remain active in
EnviroFlux Corp. are Nathan Fuentes and Jay Stannard.

CEO Kennedy has extensive experience in early stage engineering
and technological service companies. He attended the U.S. Naval
Academy and began his post-naval career at the Babcock and
Wilcox Company, where he launched the organization providing
service support for the current generation of nuclear power plants.

For more information about EnviroFlux, contact Matt Tilman at
matthew.w.tilman@cba.ufl.edu. To learn more about UF's ITV
program, visit the website at
http://www.ippd.ufl.edu/News/ITVoverview.html.


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Venture Newsletter


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Check here for upcoming events:

Calendar of Events


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