university of alaska fairbanks research foundation
DESCRIPTION
University of Alaska Fairbanks Research Foundation. A tool for translating university intellectual property to economic development and managing risk Dan White, Associate Vice Chancellor for Research, UAF Adam Krynicki, IP Specialist, UAF. Why. Take and isolate risk Hold equity - PowerPoint PPT PresentationTRANSCRIPT
University of Alaska Fairbanks Research
Foundation
A tool for translating university intellectual property to economic development and managing risk
Dan White, Associate Vice Chancellor for Research, UAFAdam Krynicki, IP Specialist, UAF
Why• Take and isolate risk
• Hold equity
• Make decisions at the speed of business
• Support UAF in ways that are difficult for state entities
• Increase start-up activity
What• Not-for-profit corporation
• Often referred to by the IRS designation 501(c)(3)
• Run by an independent board of directors
• Staffed by UAF employees
Who
Board structure could include
• Management from UAF
• Regents
• Faculty members
• Community members
• The time is now – deal flow is growing and will support the organization
• Peer institutions formed research foundations in mid 1900’s
• WSU, Virginia Tech, Iowa State, Wisconsin and many others
When
• Arms length - legally separate entity
• But UAF has board membership and significant but not complete control
Relationship to UAF
• Articles of incorporation
• Bylaws of the corporation
• Agreement between UAF-RF and UAF
Documentation needed
• Clear conflict of interest management approval process
• System to allow “rental” of university space and resources
Other arrangements
• To have the capacity to build startups, we need:
• Means to take and isolate risk;
• Methods to hold equity in startups;
• Flexibility to make decisions at the speed of business;
• Methods to manage conflict of interest for innovators and for industry.
Summary
• Board of Regents and President’s Approval
• Establishment of Board of Directors
• Articles of Incorporation and bylaws
• Maintain a lean startup approach
• Equity, risk management
• Scale programs as they become sustainable
Future actions
If you have any comments or questions, please contact:
Dan White at [email protected]
Adam Krynicki at [email protected]