a decade of innovation · venturelab ranking 24 1 rice alliance for technology and...

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Tech Square: A Decade of Innovation

!!

Stephen Fleming Vice President

<[email protected]>!@stephenfleming

7/24/2014

mailto:[email protected]

7/24/2014 Creating an Innovation District 2

Stephen Fleming

19+ years venture capital investment experience. – General Partner, Alliance Technology Ventures

(affiliated with Georgia Research Alliance). – 18 investments as lead investor,

11 profitable exits incl. 4 IPOs, $650M acquisition

BS, Physics, Georgia Tech (Highest Honors). 15 years operational experience at AT&T Bell Labs, Nortel, LICOM (venture-backed startup). – Supervised startups developing first ADSL modem and one of the first

cablemodems in early 1990s.

Multiple advisory boards at Georgia Tech; endowed chair in telecomm; occasional instructor in undergrad & MBA entrepreneurship programs. Joined Georgia Tech staff in 2005; now Vice President, EI2 Atlanta native; regional technology leader.

7/24/2014 Creating an Innovation District

Innovation

“Innovation” is our middle name... What do we mean by “innovation”?

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What is Innovation?

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A New Innovation District

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2001


Connecting Campus to City

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Tech!Square

Main Campus


Major GT Commitment

Buy the land! Relocate the College of Business. Relocate and expand Professional Education. Relocate and expand research laboratories. Relocate and expand ATDC incubator. Build a hotel. Host campus activities there. Be a landlord for retail & restaurants. Encourage adjacent commercial development.

Become a tenant in their buildings, too. Expand pedestrian, bike, transit connectivity, plus

added parking.7


September 2001

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A New Innovation District

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“Crossing the Chasm”

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Bridge over I-75/85

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Walkable Urban Environment

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Mixed-Use Retail & Food

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Physical Proximity

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Physical Proximity

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Physical Proximity

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Department of Economic Development


Physical Proximity

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Physical Proximity

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We’re Not the Valley

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Lessons from the Valley

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What Works?

Free markets Availability of capital Intellectual property protection Collaborative culture & social networks Flexible career paths Welcoming to outsiders & immigrants Meritocratic advancement Acceptance of failure as learning experience Continuous replenishment –Of bright young people –Of interesting new technologies

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GT Innovation Ecosystem

On Campus...

In the Community...

...and Beyond!


Turning Georgia Tech’s most promising research into dynamic startup companies.

VentureLab

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Educate

Curate

Create

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3/31/2014 The Role of the University in an Innovation Ecosystem

VentureLab Ranking

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1 Rice Alliance for Technology and Entrepreneurship Rice University United States

2 VentureLab Georgia Tech United States

3 UB Technology Incubator State University of New York, Buffalo United States

4 NDRC LaunchPad Trinity College Dublin Ireland

5 SETsquared Universities of Bath... United Kingdom

6 Innovation Centre University of the Sunshine Coast Australia

7 Tech 20/20 University of Tennessee United States

8 ATP Innovations University of Sydney Australia

9 STING KTH Royal Institute of Technology Sweden

10 NCTU Innovation Incubation Center National Chiao Tung University Taiwan

&#1 Engineering/Science Incubator#1 Early Stage Incubator



OnCampus...

In the Community...

...and Beyond!

7/24/2014 Creating an Innovation District4/11/2013 The University’s Role in an Innovation Ecosystem2/7/2013 Georgia Tech: Hub of Atlanta’s Innovation Ecosystem

ATDC Member Companies

Helping Georgia entrepreneurs build and launch great technology companies.

~40 GT spinouts

~400 from thelarger innovation ecosystem

Currently over 400 member companies

7/24/2014 Creating an Innovation District 27

ATDCApril 2013

In Depth: 12 Business Incubators That Are Changing the World



OnCampus...

In the Community...

...and Beyond!


NSF I-Corps

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NSF I-Corps

National Science Foundation Innovation Corps –Developing entrepreneurial knowledge in

university scientists and engineers –Built on Stanford’s Lean LaunchPad course –Curriculum initially led by Silicon Valley

investors and entrepreneurs –Georgia Tech was one of first two

universities chosen by NSF to scale I-Corps nationwide

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A New Collaborative Model

“No company has a monopoly on useful knowledge anymore. Useful knowledge is becoming more and more widespread all over the world.” –Henry Chesbrough

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Neighbors at Tech Square

“When we locate a Foundry facility, our number one criterion is to be part of an ecosystem that fosters innovation, which usually occurs at the intersection of premier education, high technology, and an entrepreneurial mindset.”

40+ employees –Product planning –Strategy –R&D –Design engineering –Product testing !“Creative class” wanted to be in Midtown, not the suburbs

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Panasonic Automotive!Systems Co. of America

They came for the talent, and stayed for the innovation environment


Coming Soon…

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Lessons Learned

Public/private partnership. Long-term planning and commitment. Balancing multiple constituencies. Build on core competencies. Make friends with the neighbors. Be a good neighbor. Never stop experimenting!

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For Further Information

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Stephen Fleming Vice President, Enterprise Innovation Institute

Georgia Institute of Technology http://innovate.gatech.edu!

!!

Personal blog: http://www.academicvc.com Email: [email protected]

Twitter: @stephenfleming!!!

Download this file at http://files.academicvc.com


For Further Information

36

Stephen Fleming Vice President, Enterprise Innovation Institute

Georgia Institute of Technology http://innovate.gatech.edu!

!!

Personal blog: http://www.academicvc.com Email: [email protected]

Twitter: @stephenfleming!!!

Download this file at http://files.academicvc.com

CC BY-NC-SA 3.0

a decade of innovation · venturelab ranking 24 1 rice alliance for technology and...

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