slides on University Venturing and New Realities

Report
University Venturing and
New Realities
Dr. Shelley A. Harrison
October 16, 2013
Personal Journey (Credentials)
Harrison Enterprises,
Inc.
PolyVentures
I and II, L.P.
1
Education and
Research
2
Entrepreneurs
hip,Science &
Technology
3
Venture Capital
Leadership
Activities
4
Board Member
and Strategies
Consultant
Where to go now?
What is CUSP?
CUSP was announced by Mayor Bloomberg as part of the NYC
Applied Sciences Initiative on April 23, 2013.
The CUSP Partnership
University Partners
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National Laboratories
NYU/ NYU-Poly
University of Toronto
University of Warwick
CUNY
IIT-Bombay
Carnegie Mellon
University
•
•
•
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City & State Agency Partners
Industrial Partners
•
•
•
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IBM
Microsoft
Xerox
Cisco
• National
Con Edison Grid
• Siemens
Lutron
• AECOM, Arup, IDEO
Lawrence Livermore
Los Alamos
Sandia
Brookhaven
• The City of New York








Buildings
City Planning
Citywide Administrative Services
Design and Construction
Economic Development
Environmental Protection
Finance
Fire Department
 Health and Mental Hygiene
 Information Technology and
Telecommunications
 Parks and Recreation
 Police Department
 Sanitation
 Transportation
• Metropolitan Transit Authority
• Port Authority of NY & NJ
A diverse set of other organizations have expressed interest in joining the partnership.
Big Cities + Big Data
•
•
The world is urbanizing
Cities are the loci of
consumption, economic
activity, and innovation
Cities are the cause of our
problems and the source of the
solutions
•
•
All cities must be better for global issues
Individual cities need to be “best” for competitiveness in
talent, capital, …
o Be efficient, resilient, sustainable
o Address citizen quality of life, equity, engagement
Big Cities + Big Data
• Informatics
capabilities are
exploding
o Storage,
transmission,
analysis
• Proliferation of
•
Global network traffic, 30% CAGR
static and mobile
sensors
Internet of things
Source: www.intel.com
How to instrument a city?
Infrastructure
Environment
Condition, operations
Meteorology, pollution,
noise, flora, fauna
People
Relationships, location,
economic
/communications
activities, health, nutrition,
opinions, organizations, …
Properly acquired, integrated, and analyzed, data can
•
•
•
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Take government beyond imperfect understanding
o
Better (and more efficient) operations, better planning, better policy
Improve governance and citizen engagement
Enable the private sector to develop new services for
citizens, governments, firms
Enable a revolution in the social sciences
Looking South from
the Empire State Building
Manhattan in the Thermal IR
199 Water Street
Built 1993 :: 998,000 sq ft
electricity, natural gas,
steam
LEED Certified
Photo by Tyrone Turner/National Geographic
Other synoptic modalities: Hyperspectral, RADAR, LIDAR, Gravity,
Magnetic, …
Some Sensor Stats: United
States
1/3 of large police forces equip patrol cars
with automatic license plate readers that
can check 1,000 plates per minute
~ 400,000 ATMs record
video of all transactions
4,214 red-light cameras
761 speed trap cameras
30 million commercial
surveillance cameras
300 million mobile phones
494,151 cell towers
Source: Wall Street Journal (January 3, 2013) – “In Privacy Wars, It’s iSpy vs. gSpy”
The CUSP Vision
The Center for Urban Science and Progress
(CUSP) is a unique public-private research
center that uses New
York City as
its laboratory and classroom
to help cities around the world become more
productive, livable, equitable,
and resilient. CUSP observes,
analyzes, and models cities to optimize
outcomes, prototype new solutions,
formalize new tools and processes, and
develop new expertise/experts. These
activities will make CUSP the world’s
leading authority in the emerging field of
“Urban Informatics.”
CUSP’s Scale
Research
Education
Commerci
alization
Located in Downtown Brooklyn with
• 60,000 ft2 leased in 1 MetroTech
• 150,000 ft2 + 40,000 ft2 incubator post-2017 at 370 Jay Street
At full length, CUSP’s funding is projected be some
$70 million/yr
CUSP Projects
01
8
tnecreP
6
4
2
0
005
The Noise Project
004
003
002
001
).tF .qS/utBk( ytisnetnI ygrenE ecruoS dezilamroN rehtaeW tnerruC
The Building
Energy Usage
Project
0
The Staten
Island Balloon
Project
University Venturing at
New York University
NYU Entrepreneurial Institute
Vision
Create a culture that values, promotes &
facilitates entrepreneurship campus-wide.
Entrepreneurial Ecosystem
Inspire
Educate
Connect
Accelerate
Fund
 Entrepreneurs
Festival
 Entrepreneurs
Speaker series
 MadebyNYU

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
Handbook
Scientist’s Guide
Website & news
Startup
Bootcamps
 LLP Educators
Grants
 Day 1 Expos
 Entrepreneurs
Network
 Faculty
Entrepreneurs
 Dormcubator
 Leslie eLab
 Technology
Venture
Competition
 Venture Fellows
 Founders Forum
 NSF I-Corps
 Summer
Launchpad
 Innovation Venture
Fund
 Prototyping Fund
 ITP Women
Entrepreneurs
Festival
 Multiple speaker
series
 Incubator
Internships
 Startup Job Expo
 Entrepreneurship
Classes
 Biotech Internship
 Innovation Lab
 Lean Startup
Bootcamp
 R.E.A.L.
Workshops
 Varick Street
Incubator
 DUMBO Incubator
 CoFounders Lab
Events
 NYU-Poly
Greenhouse
 ACRE/Urban
Future Lab
 Changemaker
Challenge
 Inno/Vention
 New/Social
Venture
Competitions
 Sounding
Board/Help
Desk/EIRs
 Venture Mentor
Network
 Studio BE
 ARSF Grants
 Green Grants
 NCIIA E-Team
Grants
 TAC Awards
Bold = New Programs in 2013
Entrepreneurs Festival
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2-day celebration of
history of
Entrepreneurship at NYU
o
o
o
o
o
5 Founder Keynotes
6 Entrepreneur Panels
24 Startup Roundtables
6 Venture Workshops
1 Giant Party
All speakers & panelist are
NYU alumni/faculty
>750 paid attendees from
13 different NYU colleges
Great participation &
support from NYC startup
community
NYU Alumni Keynote Speakers
Rachel
Jack
Herb
Dan
Alex
Stern
Dorsey Kelleher Porter Douzet
NYC CDO Twitter & Southwest Zynga/ TheLadders
& Ground Square Airlines OMGPOP
Report
Venture Capital Sponsors
NYU Entrepreneurs Network
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Multi-disciplinary collaborative of >20
entrepreneurship & innovation clubs
Participation from 10 NYU schools
Facilitates coordination between
students organizations, faculty & staff,
alumni & the NYC startup community
Organizes NYU-wide events &
programs:
o Hackathon – November 15–17th
o Collaboration Fund
o Entrepreneurs Festival
$200k Entrepreneurs Challenge
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NYU-wide, 8-month long startup challenge
Bootcamps, workshops, coaching, pitch practics, etc.
$200,000 across 3 tracks: New, Social & Technology
Ventures
500 participants, 170 teams, 13 NYU schools/colleges
‘13-14: Leveraging Lean Launchpad methodologies
Innovation Venture Fund
• $20 million seed fund
• Formed in 2010 to
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•
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accelerate technology
commercialization & new
venture creation
$100-250k direct
investments in NYU startups
Connection to service
providers & other resources
Syndicate building
7 investments to date
Growing portfolio
•Social-mobile app for bite-size reviews
•Acquired
ENIAC Ventures,
Jim Pallotta, Larry Lenihan & others
by
•Gauri Manglik (CAS '10) & Orion Burt (CAS '12)
•Next generation sports analytics
•RRE, David Tisch, Penny Black & others
•Sean Weinstock (Law '12)
•Crowdsourced workflows for metadata creation
•Mike Priest, Michael Solomon, Phil O’Brien & others
•Professor Panos Ipeirotis (Stern)
•Next generation, compact vending system
•Joanne Wilson, Brad Feld, David Tisch & others
•Brian Shimmerlik (Stern ‘13) & Abuhena Azad (Poly ‘13)
Growing portfolio
•POC diagnostic test for active tuberculosis (TB)
•Originate Ventures & Ben Franklin Tech Partners
•Profs Suman Laal (Med), Susan Zolla-Pazner (Med),
Dan Malamud (Dentistry & Med) & Bill Abrams (Dentistry)
•Developing oral RORɣt inhibitors for treatment of psoriasis +
•BioMotiv
•Prof Dan Littman (Med) & Dr. Jun Huh (Med)
•Interactive, medically accurate virtual 3D anatomy
•FirstMark Capital, Nat Turner, Zach Weinberg & others
•Research Profs John Qualter (Med) & Aaron Oliker (Med)
NYU-Poly Incubators
NYU-Poly Incubators
Timeline
2004
Opened the Brooklyn Enterprise for Science and
Technology on the Metrotech Campus
2009
Opened two incubators in Hudson Square, Manhattan
• “Varick Street Incubator”
• “NYC ACRE” (Accelerator for a Clean and Resilient
Economy)
2012
Opened third incubator in DUMBO, Brooklyn
• “DUMBO Incubator”
NYU-Poly Incubators
1. Economic Impact
•
Through both direct and indirect job creation, taxes and spending, the joint economic impact of the incubators has
been $251.2
•
million
By 2015, the impact is projected to be $719.8
million
2. Strong Job Creation
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Since 2009 NYU-Poly Incubators have created 900
Jobs
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By 2015 the incubators will have created nearly 2,600
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The average graduate of an NYU Poly incubator makes $72.230
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Former and current members contributed roughly
jobs
$31.4 million in tax revenue from ‘09 to ‘12
3. Capital Raised
147% from the time they enter the incubators until they
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Current tenants expect a funding growth rate of
graduate
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Incubator graduates have substantially higher funding/revenue upon graduation
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More than $65
million in total has been raised by incubator companies to date
NYU-Poly Incubators
New Realities
The University-Industry Liaison
• Creates a reciprocal ecosystem of human capital
and R&D for both corporations and universities.
• Develops a localized global network of
opportunities and partnerships.
• Empowers new waves of entrepreneurs with
resources and experience.
“…Double-edged sword…VCs might fund entrepreneurs who could disrupt
the institution’s business model, such as Coursera.”
- James Mawson, Global University Venturing July 2013 Issue
Perhaps the best response to this challenge equal universities reinvent selves.
Assets: experts in full range of liberal, scientific, technologic, career oriented
knowledge engaged in continuous research and teaching.
University Goal: Life-long provision of the best range of knowledge, creative
thinking, career, social interaction and societal well-being in most suitable
delivery modalities and affordable costs!
Hopefully we are open to further discussions over panels, dinners and beyond.

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