Dual Use Hawaii presents at the Hawaii Venture Capital Association Meeting
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Transcript of Dual Use Hawaii presents at the Hawaii Venture Capital Association Meeting
Hawaii’s Dual Use CompaniesTransitioning for Growth
Hawaii Venture Capital AssociationSeptember 13, 2006
Ian Y. Kitajima
The Message
Next step is Sustainability, i.e., moving away from relying on federal R&D dollars at the current levels
The Message
How we can achieve this is to focus on improving our…
CompetitivenessCommercializationCooperation
The Opportunity
Dual Use Companies Technical People Technology Focus
Have less Business People Market Focus Business models that are sustainable
A VC’s Top 10 List on Dual Use10. My questions make no sense to them, they think I’m stupid9. Small service providers and 8(a)s not setup to change the world8. VC’s won’t fund commercialization within existing walls7. Many should consider licensing, and forget6. Most need a marketing person, asap5. Understands gov’t contracting process but not the VC funding process 4. Manage multiple projects well, not setup to focus on one technology to
commercialize. 3. Transition from collegial to entrepreneurial culture will be difficult. 2. Struggle to think beyond the gov’t customers 1. Focus more on technology dev, than on biz dev
Federal R&D Funding
$4BRDT&E* 10 yrs
*Research, Development, Test & Evaluation
Source: Enterprise Honolulu Defense & Dual Use Strategic Plan
Federal R&D Funding
$323.5M63 RDT&E Projects
in 2005 Source: Enterprise Honolulu Defense & Dual Use Strategic Plan
Other Data
ð49th75 / yrPatent Activity
ð47th1?Business created from UH R&D (2000-2002)
➶24th$3.5M / yrSBIR grant funding
➶15th65 / yrScientists & Engineers % of WF
➶~ 80+No of Defense DU Companies
TrendRank2003
Sources: HIPA 2005 Policy Review; University of Hawaii OTTED, U.S. Department of Commerce, Bureau of Economic Analysis; U.S. Department of Commerce, Census Bureau; National Science Foundation/Science Resources Study Division; U.S. Bureau of Labor Statistics; Milken Institute; National Venture Capital Association; U.S. Patent & Trademark Of.ce; U.S. Of.ce of Management & Budget; U.S. Small Business Administration.
SBIRs/STTRs - Competitiveness
National competition of ideasSeed funding for high-risk ideasDue diligence by national expertsReduce risks – technical, team, marketNon-dilutive capitalFFF (Friends, Family, FEDS)
SBIR ProgramPhase I – Funds Feasibility StudyPhase II – Funds PrototypePhase III – BYOF, rights to sell
“First Wed”Social gathering to foster
Relationship building Collaborations Knowledge sharing
Focused on industry issues Defined by industry Driven by industry Owned by industry
Yahoo GroupsList of MembersCalendar Alerts
File UploadsLinksPolls
Custom DatabasePhoto GalleriesPush to Email
Language Barrier
Non-imaging SOI utilizing BD is cool!
Who’s the market, how big?
Technology, Team, TractionTraction, Team, Technology
The man wants a blue suit, turn on the blue lights
Vitamin or Painkiller?
Good questionWho’s the competition?
Study the solicitationWhat’s the problem?
Dual Use CommunityVenture Community