FINAL PLENARY SPACE RACE SHORT apr 23 2016 (3)
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Transcript of FINAL PLENARY SPACE RACE SHORT apr 23 2016 (3)
Hyper-Accelerating Commercialization and Economic Growth by
Catalyzing the Start-up Ecosystem Prepared for LES- Confidential & Proprietary the Center for Advancing Innovation and Gazelle Futures - Do Not Distribute without Permission
POWERING GROWTH:
Team Capability: • 20 years + experience in commercializing inventions;
evaluated 75K+ inventions• Advisors: Serial Entrepreneurs, Industry, Foundations• Core Team: ~20 people. 90% PhDs, MBAs• 120+ high profile, strategy engagements:$21B profit
Unique Challenge-Accelerator given IP & Talent Access:• Derisked IP: 21 agreements across NASA, NIH, NCI,
CDC, etc• Talent: 85+ Serial Entrepreneurs, Industry, etc.
Evolution:• Derisked IP: More Federal Labs• Disrupting the Venture architecture norms
CAI’s Approach
Commercialization Strategy Startups & Industry
Due Diligence – Selecting Investments & Technologies
Select the Best Federally Funded Inventions
Maximize Commercial PotentialOperators & Management Talent
Prepared for LES- Confidential & Proprietary the Center for Advancing Innovation and Gazelle Futures - Do Not Distribute without Permission
Center for Advancing Innovation—Overview
New Model for Venture Philanthropy with outsized returns
Spun out 33 Companies from NIH; 1200+ Jobs Created; 19 Agreements with NIH and NASA
Prestigious Awards & Recognition HHS, NASA, White House, Wired, Nature, Huffington Post, CBS etc.
Challenge AcceleratorsSince 2012
-‐
500
1,000
1,500
2,000
2,500
3,000
3,500 2009
2011
2013
2015
2017
2019
2021
2023
2025
2027
2029
2031
RE ($
Billion
s, PPP
1)
CAGR Forecast of GERDII Expenditure (based on UNESCO 1996-‐2009)
BrazilCanadaChinaIndiaJapanRussiaS. KoreaSingaporeUSEU
4
In addition, R&D forecasts show China will surpass the US by 2019
2019
Sources: CAI Analysis Model, UNESCO Institute for Statistics1PPP: purchasing power parity (PPP) asks how much money would be needed to purchase the same goods and services in two
different countries II Gross Expenditure on R&D
2009 RE Top 5:
1. US2. EU
3. Japan4. China5. S. Korea 2031 RE Top 5:
1. China2. US3. EU
4. Japan5. S. Korea
China
USEU
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Global Expenditure on R&D (GERD)
Global forecasts predict similar trends: lost leadership position in 2014
Sources: CAI Analysis Model, WIPO
CAGR Forecast Patents Issued(based on 1996-‐2009)
CAGR Forecast Patent Applications(based on 1996-‐2009)
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
2009 2016 2021 2026 2031
Patent App
lications
EU India Japan S. Korea US
0
100000
200000
300000
400000
500000
600000
700000
800000
900000
1000000
2009 2016 2021 2026 2031
Patent Grants
EU India Japan S. Korea US
US
US
0
10
20
30
2009 2031
Millions Paten
t Ap
ps
0
10
20
30
2009 2031
Millions Paten
t Gran
tsChina (surpassed the US in 2014)
China (surpassed the US in 2014)
Prepared for LES- Confidential & Proprietary the Center for Advancing Innovation and Gazelle Futures - Do Not Distribute without Permission
Global PATENTS
Globally, return on innovation is declining; the US is not declining as fast!
Sources: CAI Analysis Model, UNESCO Institute for Statistics, World Bank GDP
Estimates
0
10
20
30
40
50
60
70
80
90
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
GDP / RE
CAGR Real GDP (Applied to Nominal) Forecast / CAGR GERD Forecast
(based on 1996-‐2009 World Bank, UNESCO)
Brazil
Canada
China
India
Japan
Russia
S. Korea
Singapore
US
EU
US China
Country CAGR ‘02-‐’09
CAGR ‘04-‐’09
India 2.6% 6.5%
Russia 2.6% 9.4%
Canada 2.1% 6.2%
US 1.3% 0.04%
EU 1.0% 0.93%
Brazil -‐0.9% 11.3%
Japan -‐2.1% -‐1.5%
S. Korea -‐2.8% -‐4.0%
China -‐2.9% 6.9%
Singapore -‐4.3% 2.6%
CAI Proprietary and Confidential. Do not distribute outside of CAI without written permission
GERD CAGR
Global RETURN on Innovation
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,0002009
2012
2015
2018
2021
2024
2027
2030
GDP (Billions)
CAGR Real GDP Forecast Applied to Nominal GDP
(based on 1996-‐2009 World Bank)
SingaporeUnited StatesJapanSouth KoreaCanadaRussiaBrazilIndiaEUChina
GDP Growth Rate
US = 2.32% China = 9.25%2024
Sources: CAI Analysis Model, UNESCO Institute for Statistics, World Bank GDP Estimates
Innovation Arms Race
LicensedMove to translational researchMore funding in lab; science continuesNo funding in lab to continueWithdrawn/terminated licenseTerminated by inventor
Federally Funded Research
Invention Disclosed and Potentially Patented
Product
Translational Research,<0.1%
Inability to Find and Fund Promising Inventions
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Problem: Identifying the Best Inventionsand Furthering R&D
915
122
2619
132
458
804
1150
31%27%
55%
12%
96%
42%
79%
0%
20%
40%
60%
80%
100%
120%
0
500
1000
1500
2000
2500
3000
Federal2Labs Top2Hospitals Top2Med2Schools Top2Universities Bottom2 Hospitals Bottom2Med2Schools
Bottom2Universities
%"of"D
isclosures"R
emov
ed"from
"She
lf
Additio
nal"D
isclosures"R
emov
ed"from
"Shelf
Yearly"Additional"Disclosures"Removed"from"Shelf"by"Segment"–Best=in=Class"Performance(%"Removed"from"Shelf)
Segment Federal2Labs Top2Hospitals Top2Med2Schools Top2Universities Bottom2 Hospitals Bottom2Med2Schools
Bottom2Universities
#2of2Institutions 8 5 35 3 16 41 45
114/Federal2Lab
12K742Additional2Inventions
7K252Additional2Inventions
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150,000 inventions from the top 145 institutions
Potential
CurrentState
Key$InsightUS.universities.can.still.improve.by.at.least.25%,.while.federal.labs.have.>80%.potential.growth.in.
every.stage.of.commercialization
0%10%20%30%40%50%60%70%80%90%100%
Licenses.&.Options.+.
Startups
Invention.Disclosures.
Patents.Issued.
Patent.Applications.
License.Income.
Current$Universities$Potentialvs.$Average
(AUTM$2002<2009)
0%10%20%30%40%50%60%70%80%90%
100%
Licenses.&.
Options.+.…
Invention.
Disclosures.
Patents.Issued.
Patent.
Applications.
License.Income.
Current$Federal$Labs$Potentialvs.$Average
(NSF/NIST$2002<2009)
Sources:.The.Center.for.Advancing.Innovation.Analysis.Model,.NIST,.NSF,.AUTM.Survey.2002V2009
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Average State
Average Performance Opportunity
Potential
CurrentState
Key$InsightUS.universities.and.federal.labs.
have.>500%.potential.growth.in.at.every.stage.of.commercialization
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Licenses.&.Options.+.
Startups
Invention.Disclosures.
Patents.Issued.
Patent.Applications.
License.Income.
Current$Universities$vs.$BIC$Potential (AUTM$2002=2009)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Licenses.&.Options.+.
Startups
Invention.Disclosures.
Patents.Issued.
Patent.Applications.
License.Income.
Current$Federal$Labs$vs.$BIC(NSF/NIST$ 2002=2009)
Sources:.CAI.Analysis.Model,.NIST,.NSF,.AUTM.Survey.2002U2009
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Best-‐‑in-‐‑Class Performance Opportunity
Dimension Current State (2009) Opportunity % DifferenceGDP $49,068,748,297 $864,230,818,581 1661%# Licenses 3922 43885 1019%
Current Universities Potential
Dimension Current State (2009) Opportunity % DifferenceGDP $4,056,551,354 $623,614,223,359 15273%# Licenses 1462 31667 2066%
Current Federal Laboratories Potential
Dimension Current State (2009) Opportunity % DifferenceGDP $53,125,299,651 $1,487,845,041,940 2701%#Licenses 5384 75551 1303%
Cumulative Potential
3-‐6% Inventions x
80-‐90% failure rate$500 billion to $1.5 trillion
The $1.5 Trillion Opportunity
What is it? A business plan and start-up challenge featuring inventions conceived and developed by scientists at NASA
Challenge Goal: Drive economic growth and create/ amplify entrepreneurial platforms by commercializing NASA inventions
Challenge End Point: New startups launched with seed funding
Space Race Overview
Step 1: Create PIA Agreement
Step 2: Received Invention Database Info
Inventions ~50,000
Step 3: Perform Due Diligence on Portfolio
…
MarketAttractiveness
TechQuality
Operational Feasibility
Other Categories§ Patent life§ Capital efficiency§ Progress vs. promise
Step 4: Recommend Disposition
Commercialize
Reward
Kill
Restructure
Step 5: Determine CommercializationPath
Startup License
Large Co License
CRADA
Other Business
Model
Phase I: Due Diligence
Phase 2: Startup Challenge
Select Inventions Crowdsource TeamsEvaluate Elevator
SpeechesEvaluate Business
PlansLaunch Startups
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The Model
Phase 0:
Enter ChallengeJan. 19th2015–May 1st 2016
• Teams submit proposed team and accept CDA. Rolling entry into challenge
• Jan. 19th: Open challenge for entries, rolling acceptance
st
Phase 1:
Elevator
Speech
May 2nd
2016 –Jun. 15th2016
• Teams develop a 2 minute elevator speech video and also a 350 word executive summary
• Jun. 5th: Due date for elevator speech and executive summar
Phase 2:
Business PlanJun. 16th
2016 –Sep. 9th2016
• Teams develop a 10 page business plan accompanied by a 10-‐20 minute live pitch
• Aug. 21st: Due date for business plans
• Aug. 22nd –Aug. 26th: Live
Phase 3:
Start-‐up
Sept. 9th
2016 –TBD
• Teams launch their startup; raise capital and apply for a license
• Bi-‐weekly milestones for teams –schedule to be outlined
• TBD: Announce startup
Space Race Challenge Timeline
Select SPACE RACE Challenge Topic and Engage Stakeholders
Planning
Startup teams paired with world-class, seasoned exec level industry experts
Mentorship
Invention Selection
Tailored Training
Curriculum
Business Plan and Live Pitch
Multi-Disciplinary Teams Enter
2 minute video with executive summary
Elevator SpeechWinners and Finalists Selected
Identify 5-10 commercially viable inventions
Form Team and Select Invention
Letter of Intent - robust teams enter with world class mentors
Elevator speech - 5 teams per invention evaluated & down-selected
Business Plan - Teams pitch to world class panel of judges
Winning teams become founders of startup, negotiate license & raise seed funding
12 Month Intensive & Disciplined Accelerator Training
500-1000 people combine to form multi-disciplinary teams
PartnershipAnd Licensing Agreements
LAUNCHSTARTUPS
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Space Race Overview and Accelerator Training
NA
SA
Inve
ntio
nsTe
ams
For
med
wit
h in
vent
ions
Star
t-up
s F
orm
edP
oten
tial
Exi
ts
Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1 Team 1
Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2 Team 2
Team 3 Team 3 Team 3
Team 4 Team 10 Team 12 Team 4 Team 10 Team 8 Team 15 Team 10 Team 9
Invention #1 Invention #2 Invention #3 Invention #4 Invention #5 Invention #6 Invention #7 Invention #8 Invention #9 Invention #10
Startup #1
Startup #2
Startup #3
Startup #4.A
Startup #5
Startup #6
Startup #7
Startup #8.A
Startup #9
Startup #10
Startup # 4.B
Startup #8.B
Year 1 Startups Year 2 Startups
Exit #4.B
Exit #7
Confidential & Proprietary – Center for Advancing Innovation and Gazelle Futures LLC
- Do Not Distribute
Space Race—Crowdsourcing Top Global Talent
Overview:Self-monitoring electronics that can detect and diagnosewirefaults, determine fault location,
A Device For Wire Fault Detection and Rerouting
Electrical and Electronics
and autonomously transfer electrical power or data connectivity to an alternate wire path
Inventions –Electrical and Aeronautics
Overview: A ceramic composite (CMC) acoustic liner for aircraft engines that offers increased noise reduction with a lighter, more compact, and heat resistant design
Light Weight Acoustic Liner to Reduce Noise in Aircraft Engines
Aeronautics
Overview: A Lightweight UAV sensing and control system able to be fitted for drones and nano-drones reaching one pound or less and/or <6-inch wingspans,
Light Weight UAV Sensing and Control System
allowing for long flight segments due to its power-saving capabilities
Inventions –Robotics
Overview:Rugged, lightweight, small autonomous robot excavator
RASSOR Robotic Excavator
used in inaccessible sites such as high-risk mining, search and rescue as well as disaster response applications
Inventions –Optics
Overview:A 3D imaging laser system that uses a simple lens system to simultaneously generate a
High-resolution, real-time three-dimensional imaging
one-dimensional or two-dimensional array of optical (light) spots to illuminate an object, surface or image to generate a topographic profile.
Overview:Cost effective method for high precision polishing to shape optical surfaces by employing an
Electrochemically Enhanced Mechanical Polishing (EEMP)
electrochemical and mechanical shaping / polishing method
Inventions –Energy
Overview:Airborne Wind Energy (AWE) vehicles use the wind to generate power at higher altitudes;
Kite-like Wind Power Generation Control System
this invention maximizes and optimizes AWE power generation
Overview: A solid oxide fuel cell capable of power densities 5X of a normal power cell due to a unique fabrication
High-Power Density Solid Oxide Fuel Cell and Fabrication Process
process utilizing a freeze-tape casting method
Inventions –Materials and Coatings
Overview:Novel use of laser surface pattering and chemical film coatings to create surfaces resistant
Surface Particle Contamination Mitigation Methods
to water, dust, organic growth, and other surface contaminants
Overview:Liquid and micro-particle powder coating applied on the surface of reinforced concrete for
Liquid Coating for Corrosion Prevention in Rebar
corrosion prevention and structural integrity in steel rebars
Unique Inventions, Incredible Deal Flow Example NASA Robotics Invention
Overview:Rugged, lightweight, small, autonomous robot excavator used in sites such as
RASSOR Robotic Excavator
high-risk or inaccessible mining, search and rescue, as well as disaster response applications
Only invention to exploit $25 quadrillion extraplanetary mining industry; $200B to $1T of value in just one asteroid
TRL 9, space-flight tested, $35.8M taxpayer dollars invested in R&D
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11 more late-stage inventions: • Focused on space technologies, precision
medicine, clean energy, and others • Selected from NASA portfolio of 24K+
inventions: 100+ commercially viable space inventions; 300+ precision medicine
Expanding portfolio: patents and inventions from DoD, DoE, DARPA, Navy and other government-funded agencies
Low deal flow: currently only ~90 VC-backed space companies from 2000-2015
Opportunity: develop world-changing technologies, create new industries and ecosystems, drive outsized growth and returns
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Startup Challenge Evolution to Fund
Early investors end up <20% minority interest, often without
enough power to kill the “walking dead” & redeploy
Investors attempt to short list the best out of the
noise through quality of team, traction and solid
plan
Investors often deal with unsophisticated founders
who don’t understand governance or valuation
Early Stage investors often receive 100’s if not 1000’s of pitch decks, emails or via
fast pitch events for dealfow
Invest(1-5)
Term Sheet(5-10)
Diligence(10-25)
Pitch(100’s)
Diligence(1000’s)
Invest(2-5)
SourceBPs &
Teams/Tech(5-10)
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Solving Early Stage Investing Problems
Quality Strategic Deal FlowStruggles to find worthy opportunities
matched to strategic needs
Capital EfficiencyMost IP is capital & time intensive. Cost
reduction levers are key, e.g., startup nimbleness and regional advantages
Skilled Startup TeamsSeasoned entrepreneurs seeded in teams
prevent rooky mistakes
Accelerated ResultsTeams require funding and go around the
US to raise it for 6-12 months
Commercialization RisksInventions require de-risking –
lead to high failure rates
Favorable TermsLicensing agreements often have onerous
deal terms and are quick to negotiate
R&D$Productivity
Size$of$R&D$Organization
Large&Pharma&Co’s
Optimal&Size
89%
92%
65%
21%
52%
34% VALUE&OPPORTUNITY&ANALYSISYOUR&PRODUCT
adventureindependance
securitysensualityconfidence
power
comfortsafety
ease3of3use
visualauditorytactile
olfactorytaste
point3in3timesense3of3place
personality
socialenvironmental
reliableenabling
craftmanshipdurability
LOW MED HIGH
Emotion
Ergonomics
Aesthetics
Identity
Impact
Core4Tech.
Quality
Profit4 ImpactBrand4ImpactExtendable
COMPETITION&(OR&NEXT&PRODUCT)adventure
independancesecurity
sensualtiyconfidence
power
comfortsafety
ease3of3use
visualauditorytactile
olfactorytaste
point3in3timesense3of3place
personality
socialenvironmental
reliableenabling
craftmanshipdurability
LOW MED HIGH
Emotion
Ergonomics
Aesthetics
Identity
Impact
Core4Tech.
Quality
Profit4 ImpactBrand4ImpactExtendable
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Gazelle Solves Pipeline Challenges
An early stage venture capital fund that leverages exclusive, low-cost access to a large
portfolio of risk mitigated inventions combined with a proven and award winning “Startup
Challenge Accelerator” to rapidly launch new capital efficient companies and grow jobs.
Gazelle Futures Mission
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Financial Impact
$90MEndowment
20Companies
56%+Fund IRR
Investing + “venture philanthropy” of LP’s 50% split carry creates a sustainable source of future funding
Proven, award winning accelerator matches inventions to region’s strengths & significantly increases new startups
Securing the majority of equity at the early stage captures all value creation, resulting in strong for all investors
Even with highly conservative assumption of 90% failure failure rate, startups jobs generate a large commerce impact in area
$600M
Social Impact
$180MInvestor Returns
Limited Partners that invest capital are positioned to realize strong exit return multiples over the 10 yr life
GDP Impact
82%Employment
Challenge graduates have attractive entrepreneurial skills that lead to high job placement success in market
2500Trained
Over 500+ people per year x 5 years receive advanced STEM training during the 12 month accelerator process
18KTotal Jobs
Growing Life Science oriented startups creates a large multiplier effect, leading to job growth throughout the local ecosystem
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Measurable Impact with $20MM FundTarget Case
Gazelle Futures Fund Overview
9 yr | 4 yr InvestingFund Horizon
Match to Region Strengths
Market Focus
Seed to Series AStage Focus
$20MM Segments ($100MM Total)
Total Fund
Under-valued RegionsGeographic Focus
Performance BasedGP Carry Interest
5x + Exit TargetsOutsize Returns
$200K - $1.2MMInvestment Size
10-20 Seed | Series AInvestments
Substantial 100%Equity Positions
Gazelle Futures | 9508 Burning Tree Road; Bethesda, MD 20817 [email protected] | (202) 438-2208 | www.gazellefutures.com
Fund MissionDe-risked, Capital Efficient
§ Builds on successful startup model§ Breast Cancer Startup Challenge, Neuro
Startup Challenge§ Kaufmann Foundation proprietary
research§ STEM and entrepreneurship education
DifferentiationUnique Deal/Team Access§ Unprecedented no/low-cost
licensing access § De-risked portfolio of 24,000 NIH
& NASA inventions§ Crowd source global talent
Investment Strategy“Lead Seed”-Founder Friendly
§ Up to $1MM+ seed investments § Founder friendly support from
industry experts§ lowest cost/% ownership and
maintaining substantial positions through future dilutive rounds
Social Impact Financials100% Performance Based
§ Performance based IRR goals§ Creation of regional endowment§ 2.5% mgmt fee for Challenge
Accelerator.
Confidential & Proprietary | DO NOT DISTRIBUTE
Experienced Investment Team
Rosemarie H. TrumanManaging Partner
- CEO, Center for Advancing Innovation- Launched 33 Award Winning NIH Startups- 22 Yrs & $210B+ F500 Growth Strategy- IBM, Goldman, JP Morgan, E&Y, Oracle
Nick DonafrioBoard Chairman
- IBM VP of Global Innovation and Technology for 35 years (IBM Watson)
- Industry and thought leader- MITRE, Liberty Mutual, Wigix, others
BENEFITS
Disruptive Investors
§ Outsized returns and IRRs§ Diverse invention
portfolio: energy, personalized medicine, adv. manufacturing
§ Performance driven fund§ Proven, efficient, data
driven, award-‐winning, investment model
§ Impact investing with multiplier effect
§ Network expansion –AUTM, BIO, White House, etc.
Government andTech Transfer:
§ Multiplier effect in impacting public health, energy, medicine, other sectors
§ Supports the Presidential Memorandum and Startup America
§ New paradigm of commercializing inventions
§ Expanded private funding for R&D
§ New platform to train the next generation of scientists
§ Support STEM education
Powering Growth:
§ Train 1000s new STEM entrepreneurs§ Create 100s startups§ Create millions of new jobs§ Support regional sustainability§ Contribute to GDP through new products
CAI and Gazelle Futures:
§ Drive and accelerate high growth business§ Increase the volume of commercialization§ Accelerate ground breaking innovations
Key Takeaways for Stakeholders
Rosemarie Truman: (202) 438-2208
twitter.com/centerinnovate
www.thecenterforadvancinginnovation.org
https://www.linkedin.com/company/the-center-for-advancing-innovation-inc-?trk=biz-companies-cym
Contact
9508 Burning Tree Road, Bethesda, MD 20817
The Center for Advancing Innovation, INC
Gazelle Futures, INC
Rosemarie H. Truman | Founder and CEO Sourav Sinha | Entrepreneur in Residence
Key Takeaways
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§ YOU can do this too! We’ve built a nice platform AND have lessons learned
§ Join the SPACE RACE; build a team; be a judge; advise the challenge; mentor a team
§ GAZELLE is seeking strategic partnerships & advisors; please connect with us if interested
THANK YOU
ROSEMARIE TRUMAN, FOUNDER AND CEOSOURAV SINHA, ENTREPRENEUR IN RESIDENCE
THE CENTER FOR ADVANCING [email protected]
TEXT: 202 438 2208
Healthy Cell Cancer Cell
No Effect Azonafide Kills Cell
§ Winner of Breast Cancer Startup Challenge by the National Cancer Institute (NCI)
§ Awarded grants from Avon Foundation for Women, NASA/Center for the Advancement of Science in Space (CASIS), and the Horizon 2020 Program (UK)
§ Winner of MassChallenge & MassBio 2014 Startup Accelerators§ Winner of the Rice Business Plan Competition§ Raised seed financing, currently raising a bridge round§ Partnered with 14 pharma partners all over the world§ Partnered with 6 academic labs all over the world§ Offices in Boston and London § Closed Startup Exclusive Option License Agreement with the NCI§ Showcases: TEDMED, World ADC Summit, Engage Forum Tokyo,
Protein & Antibody Engineering Summit (Shanghai & Boston ’15)
Team Progress
Startup Challenge Evolution to FundCAI$performsdue$diligence
on$exclusive$access$invention$portfolio
CAI$runs$challenge/accelerator,$crowd;sourcing$ startup$teams.$Teams$apply$for$SBIR$funds
CAI$selects$winning$business$plans$and$teamsC$CAI$facilitates$licensing$agreement
Gazelle$exclusive$$deal$with$CAI$to$perform$due$diligence
Gazelle$creates$company$vehicle$ for$inventions$– and$owns$100%
Gazelle$funds$startup$leadership$and$provides$first$tranche$fundingC$owns$55%$equity
Space&Race
Gazelle$performs$ongoing$governance$and$has$strict$go/no;go$milestones
Gazelle$puts$in$Series$A$fundingC$funding$ is$matched.$Valuations$double
Liquidity$Event$
Gazelle$pays$out$to$LPs
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Who Can Join the SPACE RACE?Recruiting Multi-Disciplinary Teams
Team Design:
Mandatory Requirements
Challenge TEAM Business
Legal
Invention Specific Technical
Seasoned Entrepreneur
Typical Participation
Students:• Graduate and undergraduate students• Post-docs as well as those in residency
Others - match skill sets of mentors to invention and team:• Business Development Leaders from Large Companies
• Key Opinion Leaders• FDA/Regulatory• Venture Capitalists
• Clinical Research Outsourcer (CRO)
• Over 18 years old*• At least three students on the team
*and younger with parent’s permission as long as the rest of the team meets requirementsConfidential & Proprietary to The Center for Advancing Innovation. Do Not Distribute