Creating New Business Plans and Ventures
The following was written by Beth Goldstein, one of our ATI Interns who is currently working with member company, Terapio, about her takeaways from one of the classes in the Product Realization and Technology Commercialization seminar series on Creating New Business Plans and Ventures.
The speaker last Friday, October 2, 2009 was Mr. Rob Neville, the executive chairman of ATI Member Company, Savara Pharmaceuticals. He had a successful career in software engineering that allowed him to invest in a new company. He was interested in a more altruistic technology company that could make a difference when he was introduced to Savara. This company is using nanotechnology and current drugs to create better pulmonary delivery for drugs such as TB medications. His talk was on Business Plans- or the lack thereof. He recommended that in today’s climate you spend more time planning then writing a business plan and use discovery driven development for creating new ventures.
*assemble a good team of advisors and board members
*leadership is key
*passion for what you do creates a better vision for your company
*integrity makes you a better boss
*decisiveness, commitment, and teachability are import skills when leading a company
*identify your market and ask customers for feedback
About the Class
Are you interested in technology commercialization and entrepreneurship? The Product Realization and Technology Commercialization graduate level seminar is hosted in conjunction with the Austin Technology Incubator (ATI), the Office of Technology Commercialization (OTC), and the Idea to Product ® program (I2P®). It is open to the UT community and will be held on Fridays from 3 – 4 pm in the Engineering Teaching Center, ETC 2.136. The seminar will cover topics essential to technology commercialization and entrepreneurship, such as ‘Market validation and customer needs’, ‘Risk, return and product design’, ‘Legal and IP issues’, ‘Technology transfer and commercialization at UT’, ‘Understanding funding sources’, ‘Entrepreneurs as innovators’, ‘New venture creation and business plans’, ‘Market launch’, and ‘the Global Idea to Product Competition’. A complete schedule of topics is attached to this email.
Furthermore, we will be hosting Technology Commercialization Office Hours on the first Fridays of the month: 9/4, 10/2, and 11/6 immediately following the seminar. If you have an idea and are interested in learning how to commercialize your idea or start a company, now is your chance to ask your questions and brainstorm ideas with ATI, OTC, and I2P.
8/28 Technology Commercialization Introduction
9/4 Market Validation and Customer Pain
9/11 Risk, Return and Product Design
9/18 Legal Issues: Intellectual Property and Business Formation
9/25 Technology Transfer and Commercialization at UT
10/2 Creating New Ventures and the Business Plan
10/9 Understanding Funding Sources
10/16 Entrepreneur as Innovator and Leading a Technology Venture
10/23 Market Launch
10/30-31 Global Idea to Product® Competition, AT&T Center