Presented Feb 14 2011 at Stanford Engineering School.

2. Università
di
Padova
Founded
in
1222
More
than
65.000
students
More
than
2.400
researchers
Strong
engineering,
agricultural,medical
and
law
schools
Budget
>
600
Mln
Euro
2

3. Tech
Transfer
Offices
in
Italy
TT
offices
have
been
opened
only
recently
Only
5
TT
offices
opened
before
the
year
2000,
58
in
the
year
2008
3

4. Yearly
budget
of
Universi<es
with
TTO
Budget
of
the
top
5
UniversiJes
on
average
~
650
Mln
Euro
Average
on
all
UniversiJes
~
210
Mln
Euro
Approximately
26%
of
the
funding
comes
from
the
government
Another
26%
from
research
contracts
12%
comes
from
the
European
Union
12%
from
local
regional
government
14%
from
the
universiJes
own
resources
the
remaining
10%
from
different
sources,
bank
foundaJons,
etc.
4

5. TTO activities
The
TT
offices
declare
the
following
main
ac<vi<es:
Support
to
creaJon
and
to
the
development
of
spinout
companies
IP
management
Research
contracts
with
companies
Management
of
conflicts
of
interest
5

6. Support
to
spinout
companies
Business
Plan
compeJJons,
seminars
on
business
plan
wriJng,
entrepreneurship
Beneficial
condiJons
on
IP
licensing
to
spinout
companies
Lab
space,
instruments
Company
incubators
The
University
may
become
a
minority
shareholder
6

7. The
spinout
scenario
How
many,
where,
sectors:
In
2008
the
overall
number
of
university
spinout
companies
was
higher
than
800
The
average
revenues
are
about
500
K
Euro
per
year
The
creaJon
rate
was
higher
than
100/per
year
since
2006
Spinouts
are
based
mostly
in
northern
and
central
Italy,
but
also
in
some
regions
of
the
south
like
Puglia
The
three
main
sectors
are:
ICT
33%,
Energy
cleantech
16%,
Life
sciences
15%
7

8. Spinout
and
venture
According
to
AIFI,
the
Venture
Capital
and
Business
Angel
Associa<on
in
Italy,
the
total
seed
investment
in
Italy
is
lower
than
40
Mln
Euro
per
year
The
investments
are
mostly
in
companies
that
are
NOT
university
spinout
8

9. Spinout
and
venture
Most
spinout
companies
are
not
fit
for
investments
by
venture
capitals
Some
direct
examples
of
two
spinout
companies
that
I
personally
founded
before
M31:
eMoJon
Srl,
first
official
spinout
company
of
the
University
of
Padova;
VI-­‐grade
GMBH.
9

10. eMo<on
Srl
Founded
in
the
year
2000
with
an
investment
of
300
K
Euro
from
a
business
angel
and
a
private
company
It
offers
moJon
capture
systems
for
clinical
applicaJons
Based
on
research
on
tracking
and
data
associaJon
10

11. eMo<on
Srl
Sold
in
2002
to
a
public
company
and
merged
into
BTS
Spa
www.bts.it
Today
it
counts
28
employees
and
it
has
revenues
for
about
5
Mln
Euro
11

12. VI-­‐grade
GMBH
Founded
with
a
manager
who
had
an
important
sale
experience
in
the
area
It
offers
CAE
tools
for
the
automoJve,
train
and
aerospace
industry
Based
on
research
on
the
control
of
mechanical
systems
12

13. VI-­‐grade
GMBH
VI-­‐grade
counts
25
employees
and
it
has
revenues
for
2.5
Mln
Euro
It
is
owned
by
the
managers
who
joined
the
company
one
year
acer
its
incorporaJon
13

14. IP
issues
In
both
eMoJon
and
VI-­‐grade
cases
the
support
by
the
TTO
on
the
possibility
of
protecJng
the
products
with
patents
was
non
existent.
There
was
no
“procedure”
The
Italian
law
assigns
the
ownership
of
the
invenJon
and
the
rights
to
the
inventor,
not
to
the
University
Most
TTO
do
not
have
budget
to
cover
the
costs
for
the
deposit
of
the
patent
applicaJon
14

15. The
IP
scenario
The
“top
5”
universiJes
count
at
the
end
of
2008
a
porfolio
of
about
200
patents
each
The
average
of
all
the
universiJes
that
have
a
TTO
is
of
about
40
patents
each
The
investment
in
IP
is,
on
the
average,
of
about
220
thousand
Euro
per
year
for
the
“top
5”
and
of
somewhat
more
than
50
thousand
Euro
for
all
the
universiJes
with
a
TTO
On
the
average
the
“top
5”
close
5
to
7
licensing
deals
per
year
and
all
the
universiJes
1
15

16. The
IP
scenario
The
revenues
generated
by
the
licensing
deals
for
the
“top
5”
universiJes
is
about
150
thousand
Euro
per
year
on
average
Netval,
an
associaJon
of
46
TTO
in
Italy
recently
assigned
to
a
private
company
the
commercializaJon
of
their
IP
16

17. The
minuses
of
the
Italian
scenario
Doctoral
schools
•
There
are
few
students
•
The
basin
of
airacJon
is
local,
few
internaJonal
students
•
Entrepreneurship
is
weak
amongst
the
PhD
students
•
The
recruiJng
process
is
defecJve
The
innova<on
ecosystem
•
There
is
a
limited
M&A
acJvity
on
high
technology
companies
•
The
intangibles
are
ocen
not
considered
in
the
evaluaJon
of
a
company
•
There
is
no
altude
to
design
companies
that
work
in
the
early
stages
of
the
supply
chain
offering
IP
17

18. The
pluses
of
the
Italian
scenario
Opportuni<es
•
There
are
numerous
pockets
of
excellency
in
research
Italy
is
the
third
country
in
the
world
for
number
of
scienJfic
publicaJons
•
Engineers
are
prepared,
skilled,
loyal
and
do
not
cost
astronomically
•
Funds
are
becoming
available,
see
for
example
the
Fondo
Italiano
di
InvesJmento
•
The
UE
is
pushing
on
the
local
regional
governments
to
support
the
creaJon
of
new
ventures
•
The
quality
of
life
is
high
and
can
airact
skilled
managers
and
researchers
from
abroad
18

19. The
needs
of
the
Italian
scenario
Doctoral
schools
and
research
•
InternazionalizaJon
•
Stronger
and
focused
public
investments
on
doctoral
programs
•
Support
for
hiring
few
qualified
research
managers,
world
famous
scienJsts
capable
of
managing
large
labs
The
innova<on
eco
system
•
Build
the
innovaJon
supply
chain
starJng
from
companies
accellerators
linked
to
early
stage
venture
capitals
•
Focus
on
the
global
market
for
the
M&A
acJvity
19

20. What
does
M31
do?
M31
Italia
turns
innovaJve
technologies
into
start-­‐
ups.
M31
USA
turns
technology
start-­‐ups
into
successful
global
companies.
M31
was
incubated
in
Startcube
the
University
of
Padova
start
up
accellerator
20