Best Practice Area | Description | Related Events |
Defining Gap Funding Approaches
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- Models/Structures of COA member programs, evolution from one to multiple fund programs
- Adopting common community language/definitions for fund types (Translational Research, Proof of Concept, Startup/Seed, etc.)
- Identifying nuances in approaches, needs and challenges (size/type of institution, location, tech area specific, etc.)
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- Defining Gap Fund Approaches
- Gap Fund Process Tactics/Approaches
- Create and Manage a POC Gap Fund
- Create and Manage a Startup Gap Fund
- Model Reviews (UI, UM)
- Model Reviews (UB, UGA, UNE)
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Assessing and Reporting Impact and Performance Metrics
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- Effect of gap funding on the technology commercialization process (process metrics, activity, econ dev, etc.)
- Ability of gap to attract outside commercial and investment interest (leveraged capital, licenses, community involvement, etc.)
- Quantifying the need for more attention and resources directed at the capital gap
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- Establishing Common Impact Measures and Reporting to Stakeholders
- Assessing and Reporting Impact and Performance Metrics
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Raising and Sustaining Gap Funding Programs (R&S)
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- Tactics to R&S funds from institutional support and coordination (royalties, equity, donor/alumni funds)
- Tactics to R&S funds from external support (government programs, foundations, co-investment with corporations/investors)
- Approaches to keep sources of funding engaged throughout the gap funding process
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- Raising and Sustaining Gap Fund Programs
- Turn Alumni, Foundations, and FOUs into Gap Fund Investors
- Secure and Sustain Gap Funding Support from Your State and Region
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Evaluating Technologies and Startups for Gap Funding Programs |
- Methods to evaluate opportunities for funding (scorecards, rating, outsourcing/insourcing, professional feedback/expertise), etc.)
- Forming and sustaining advisory groups (in-person, virtual), process structure/management, and setting expectations
- Setting project targets and delivering feedback on successful/declined projects
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- Evaluating Tech and Startups for Gap Funding
- Accelerator Support Programs (UC, UMN)
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Cultivating Gap Fund Support Programs
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- Attracting and incorporating talent from on-campus experts/programs and from the outside(EIR/mentors/consultants)
- Use and examples of external support services that have positively impacted in the development of opportunities
- Partnering with other public/private programs in the innovation ecosystem (accelerators, incubators, etc)
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- Accelerator Support Programs (UC, UMN)
- Cultivating Gap Fund Support Programs
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Attracting and Collaborating with Commercial and Investment Partners |
- Methods to grow network of commercial and investment partners
- Co-development/feedback/investment approaches with corporations/startups/investors
- Asset/Startup positioning and communication to generate interest
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- Attracting and Collaborating with Sources of Investment
- Attract External Investors to Gap Funded Projects and Startups
- Turn Alumni, Foundations, and FOUs into Gap Fund Investors
- Correlation Ventures
- Samsung Innovation
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Communicating the Value, Need, and Expectations of Gap Funding Programs |
- General awareness of the innovation process/timeline, the role of university, and the need/positioning of gap funding programs
- Increasing public/political interest/engagement in high-tech innovation relative to other priorities
- Managing the expectation of process/program outcomes with internal/external stakeholders
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- Approaches to Marketing and Promoting Gap Fund and Accelerator Programs
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Coordinating Gap Funding Programs with Campus Units and Priorities |
- Coordination/collaborating with other offices on campus (Research, Development/Foundations, Alumni, Colleges/RCs, etc.)
- Aligning gap fund program/multiple campus funds with the tech commercialization process
- Leveraging the COA resources/activities to support buy-in and engagement across the institution
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- Accelerator Support Programs (UC, UMN)
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Implementing Policies and Incentives (P&I) that Support Gap Fund Programs |
- Understanding institutional P&Is for inventors, Conflict of Interest (COI), ownership, tenure, etc.
- Understanding P&Is to attract/structure outside partnerships/investment like research/tax incentives, collaboration agreements, COI, etc.
- Expanding on and adopting creative P&I approaches that are demonstrating success
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Managing Inventor Involvement in the Gap Funding Process |
- Communicating the program to generate quality interest and submissions
- Leveraging the gap fund program process to educate, develop relationship, and improve the current asset/future submissions
- Approaches and tactics to set expectations of involvement, ownership, and compensation in the developing asset/startup
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- Accelerator Support Programs (UC, UMN)
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Structuring the Financing and Ownership of Gap Funded Technologies and Startups
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- Form of funding (grant/investment) and funding disbursement approach (milestone, tranche, staged, etc.)
- Approaches to equity/royalty dispersion
- Tactics to maintain and manage ownership position through the maturation of the technology/startup
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- Providing Oversight and Maintaining Relationships with Funded Projects/Startups
- Structuring Investments
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