News and Events >CU Technology Transfer Office Calls for Business Advisors

CU Technology Transfer Office Calls for Business Advisors

March 15, 2005

For the past two summers the University of Colorado Technology Transfer Office (TTO) has operated a program that expedites the process of technology commercialization by forming project teams to evaluate CU technologies and develop concept companies. Project teams consist of CU student interns, TTO licensing staff and members of the Front-Range professional business community. Since its inception, more than 75 professionals, including prominent IP attorneys, venture capitalists, management consultants, technology domain experts and serial entrepreneurs, volunteered their time, contacts, expertise and energy. Over the past two summers, 78 cases were reviewed, resulting in eight start-ups, the execution of nine exclusive licenses and the advancement of other opportunities through the creation of licensing strategies and business plans that will eventually lead to commercialization outcomes. These assessments prove invaluable to the TTO in sorting out what IP is protectable, marketable, and worth pursuing at any given time. A graduate of the 2003 CTCP program, ARCA Discoveries, Inc., provides an excellent example of the success of the program. The program brought together an MBA student with academic and business experience in medical technologies with experienced, local business advisors to work with the researcher to develop a business strategy and plan. The company is currently pursuing Series A financing. A graduate of the 2004 summer program now has a seasoned CEO in place, a working prototype and $1.45 million in seed round financing. Several of the summer program cases also applied for the TTO's new early stage 'Proof of Concept' fund, and one company was awarded the first $100K investment. The companies were all aided in their efforts to apply for this source of critical funding through this program.

Overall, the summer program creates new relationships, identifies opportunities and increases understanding about technology transfer between the University and the Colorado business community. The TTO is currently seeking Front-Range business professionals and firms with an interest in volunteering their time and expertise to serve as business advisors to the summer 2005 program. If interested, please contact David Allen at david.allen@cu.edu.