Yale Ventures

Transcript

• 00:00Thank you for joining. This
• 00:02is the OAPD,
• 00:03workshop series.
• 00:05And, it's a great,
• 00:07opportunity today to have Yael
• 00:08Ventures joining us, to tell
• 00:10us a little bit about
• 00:10what we should all know
• 00:11and, things that, our resources
• 00:14and possibly for us to
• 00:16work with and take advantage
• 00:17of,
• 00:18the resources. So
• 00:19Josh, Javal is gonna, I
• 00:21think, introduce the rest of
• 00:22the team, and he is
• 00:23director over at Yellow Ventures.
• 00:25And it's a great honor
• 00:26to have you guys join
• 00:27us today. So thank you.
• 00:29Great. Well, thank you, Jonathan.
• 00:30We appreciate the invitation. And,
• 00:32on behalf of my colleagues,
• 00:33Susan Carr and Jim Boyle,
• 00:34who you'll hear from in
• 00:35just a moment, we're delighted
• 00:36to be with you to
• 00:37talk to you for a
• 00:38little while today about Yale
• 00:40Ventures and a number of
• 00:41the programs that are
• 00:44available to support you,
• 00:47in your efforts to take
• 00:48your
• 00:49research discoveries and and inventions
• 00:52and hopefully translate them for
• 00:54the benefit of society.
• 00:55So,
• 00:57for those of you that
• 00:58don't know, Yale Ventures is
• 01:00you can think of it
• 01:01as, like, the umbrella organization
• 01:02for innovation and entrepreneurship across
• 01:05Yale. So we sit in
• 01:07the provost's office, so we
• 01:08support the entire university, but
• 01:10we are heavily focused on
• 01:11the school of medicine,
• 01:12which of course is where,
• 01:14you know, an enormous amount
• 01:15of the research at Yale
• 01:16takes place, but you should
• 01:17know that you are part
• 01:18of this ecosystem of a
• 01:20number of different organizations,
• 01:22both across campus as well
• 01:23as in the broader New
• 01:24Haven and Connecticut
• 01:26community
• 01:27that exist to support,
• 01:30the development and launch of
• 01:31new startup companies
• 01:33and to help them scale
• 01:34and be successful,
• 01:35across campus and here in
• 01:37New Haven.
• 01:38To give you a sense
• 01:39of the the some of
• 01:40the numbers behind the activity
• 01:42going on here at Yale,
• 01:44you can see you may
• 01:45you may be aware Yale
• 01:46invests about a billion three,
• 01:48in research per year. That
• 01:49number is growing steadily.
• 01:51And as a result of,
• 01:53that work, we generate a
• 01:54lot of new intellectual property,
• 01:55and we actually have over
• 01:57twenty four hundred patents currently
• 01:58issued, many more, in process,
• 02:02over nineteen hundred technologies that,
• 02:04you know, we're working to
• 02:06market to, license out to
• 02:08the private sector where they
• 02:09can attract investment and hopefully
• 02:10be developed.
• 02:12One of the ways we
• 02:13do that is we help
• 02:14launch our own startup companies,
• 02:15and in fact, we've launched
• 02:16over two hundred startup companies
• 02:18in the last decade
• 02:19that have collectively raised over
• 02:20six billion dollars in funding.
• 02:23And to support that journey,
• 02:25we give out every year
• 02:26over six million dollars in
• 02:28grants,
• 02:30aimed to support the development
• 02:32of some of the most
• 02:33promising technologies, and you're gonna
• 02:34hear a lot more about
• 02:35that in in over the
• 02:36course of the the next
• 02:37few minutes here.
• 02:39At EO Ventures, we organize
• 02:41the activities that we're directly
• 02:43responsible for really into four
• 02:44categories. So the first one
• 02:46is IP and licensing services,
• 02:48and this is a team,
• 02:49that we have that's focused
• 02:51on partnering with all of
• 02:52our faculty,
• 02:54as they're doing your research
• 02:56and hopefully identifying
• 02:58new discoveries
• 02:59to work on the IP
• 03:00strategy around those discoveries, make
• 03:01sure that we're taking steps
• 03:03when we're ready to protect
• 03:04that intellectual property by filing
• 03:06patents or or, copyright or
• 03:08trademark protection as as applicable.
• 03:11And then once we have
• 03:13the patent, we have that
• 03:14intellectual property protected, we work
• 03:16on, identifying how to license
• 03:18it out and actually execute
• 03:19those license agreements,
• 03:21with with the private sector
• 03:23again so that we can
• 03:24get those technologies in the
• 03:25hands of organizations
• 03:26who will invest in them,
• 03:28and hopefully bring them to
• 03:29market.
• 03:31Every faculty member will have
• 03:33assigned to them a member
• 03:34of our business development team
• 03:35in this group. And so
• 03:37if you don't have somebody
• 03:38assigned to you, and you
• 03:40would like to talk to
• 03:41someone from our team, please
• 03:42reach out to us anytime
• 03:43or even,
• 03:44you know, put a a
• 03:45drop something in the chat,
• 03:46and we'll make sure you
• 03:47get connected to somebody from
• 03:48this team who can work
• 03:49with you, throughout your your
• 03:51journey here at Yale.
• 03:53The second, group of activity
• 03:55we call innovation training and
• 03:56start ups, and I'm not
• 03:57gonna go into this too
• 03:58much right now because that's
• 03:59actually gonna be the bulk
• 04:00of what Susan and Jim
• 04:01talk about in just a
• 04:02moment, but this is a
• 04:03collection of a number of
• 04:04different programs
• 04:05that provide very hands on
• 04:07support and
• 04:08translational funding,
• 04:10to support a number of
• 04:11the most promising technologies and
• 04:12to be a partner to
• 04:14our faculty as they're thinking
• 04:15about options for their their
• 04:17discoveries and their and their
• 04:18IP going forward.
• 04:20The third group is corporate
• 04:21strategy and engagement, and this
• 04:23is a team that works
• 04:24with private industry, usually large
• 04:26organizations,
• 04:27where there is some amount
• 04:29of shared,
• 04:30research interest between what they're
• 04:31doing and what we're doing
• 04:32here at Yale. And we'll
• 04:34work together to forge alliances
• 04:36and partnerships where those companies
• 04:37will support research here at
• 04:39Yale, often fund research here
• 04:40at Yale, and we'll work
• 04:41together with their scientists oftentimes
• 04:44on,
• 04:45challenges that we're we're both
• 04:46interested in.
• 04:47And so if there's a
• 04:49a company that you're interested
• 04:51in working with or you're
• 04:52aware of one of the
• 04:53big alliances at Yale and
• 04:54you wanna figure out how
• 04:55to get involved,
• 04:56it's another area. It'd be
• 04:57good to reach out to
• 04:58us, and we'd be happy
• 04:59to help support you.
• 05:01And then finally, innovation community.
• 05:03And,
• 05:05Yale has in a strong
• 05:06interest in seeing,
• 05:08all of the startups we're
• 05:09spinning out and all of
• 05:10the output of this work.
• 05:12As much as possible, stick
• 05:13around,
• 05:15to take root here in
• 05:16New Haven, to contribute to
• 05:18the economic development and creation
• 05:20of jobs and opportunity
• 05:21here in New Haven. It's
• 05:22obviously good
• 05:24for all of us if
• 05:25the city is growing and
• 05:26thriving as it is right
• 05:27now.
• 05:28But it's also helpful to
• 05:29the startups if
• 05:30it's,
• 05:31easy for them to stick
• 05:32around, be close to the
• 05:34founding scientists who typically are
• 05:36staying in their faculty jobs
• 05:37here at Yale so they
• 05:38can spend a lot of
• 05:39time together. And it can
• 05:40actually help improve the chances
• 05:42of success of these start
• 05:43up companies. And so we
• 05:44work hard with a lot
• 05:45of partners outside of the
• 05:46university in city and state,
• 05:49organizations and governments to make
• 05:51sure that we've got
• 05:52the lab space and the
• 05:54capital and the talent and
• 05:55all of the other elements
• 05:57that are needed to help
• 05:58support,
• 05:59early stage start up companies
• 06:00and help them be successful.
• 06:02We'll talk a little bit
• 06:03about about some of the
• 06:04activities there a little later,
• 06:05in particular, some of the
• 06:06events and one of the
• 06:06big events that's coming up
• 06:07in just a week just
• 06:08a couple of weeks at
• 06:09the end. So with that,
• 06:10I'm gonna turn it over
• 06:11to, I think, first, Susan,
• 06:14who, can introduce herself briefly
• 06:15and then talk a little
• 06:16bit about some of these
• 06:17programs that we run to,
• 06:19support innovation training and startups.
• 06:21Sure. I am Susan Carm,
• 06:23director of faculty engagement here
• 06:25at Yale Ventures.
• 06:26And my role is specifically
• 06:28to to welcome in all
• 06:29the faculty that are interested
• 06:31in the innovation space and
• 06:33sort of shepherd them through
• 06:34the process as well as,
• 06:36you know, direct them to
• 06:38all of the services that
• 06:39we have to offer. So,
• 06:41I'll start off by just
• 06:42giving a little bit of
• 06:43a framework of how we
• 06:44think about faculty innovation. You
• 06:46know, we're here to support
• 06:48all innovation across the ecosystem,
• 06:50but we take a special
• 06:51interest in supporting the needs
• 06:52of faculty.
• 06:54And so we we do
• 06:55that by thinking about we,
• 06:56you know, we recognize that
• 06:57all of you
• 06:59have tremendous demands on your
• 07:00time. And so we look
• 07:02at this as how can
• 07:03we make the the possibility
• 07:06of working
• 07:07on innovation and working on
• 07:09commercialization
• 07:10projects and programs. How can
• 07:12we make that easier? How
• 07:13can we lower the barriers?
• 07:15We know that one way
• 07:16to do that is by
• 07:17just offering
• 07:18services and education.
• 07:20If, you know, all of
• 07:22you have, very, very niche
• 07:25areas of expertise,
• 07:27and
• 07:28given the focus that you
• 07:29have in your research and
• 07:30your clinical work,
• 07:32it makes sense to us
• 07:33that providing business services and
• 07:35all the education around how
• 07:36you actually commercialize a product
• 07:38is an important service that
• 07:40we can provide to make
• 07:41the process easier for you.
• 07:43So we've created
• 07:44quite a variety of different
• 07:46educational programs
• 07:47as well as supporting
• 07:50teams that are executing. If
• 07:51you have a piece of
• 07:52innovation that you want to
• 07:54take to market, we know
• 07:55that one of the things
• 07:56you'll need is good translational
• 07:58funding. And so we take
• 08:00a strong interest in making
• 08:01sure that any faculty that
• 08:03present themselves to Yale Ventures,
• 08:05that they have not only
• 08:06the IP and licensing support
• 08:07that they need, but that
• 08:08they also have the educational,
• 08:12topics that they need in
• 08:13order to learn about this
• 08:14space, as well as translational
• 08:16funds.
• 08:17So Jim is going to
• 08:18get into a little bit
• 08:19more detail about our accelerators
• 08:21that are relative relevant to
• 08:22the school of medicine. I'm
• 08:24gonna go over some of
• 08:25these other programs that I
• 08:26think you'll find are helpful
• 08:28as well. Josh and Jim,
• 08:30feel free to chime in
• 08:32on anything that you want
• 08:33to give a little bit
• 08:34more, focus to.
• 08:36So this is a great
• 08:37slide that really kind of
• 08:38helps
• 08:39helps,
• 08:41understand all the programs that
• 08:42we have and all the
• 08:43steps along the way because
• 08:44we know that it's it's
• 08:45a bit of a journey.
• 08:46Entrepreneurship
• 08:47and innovation and commercialization,
• 08:49it it's quite a journey.
• 08:51And so we start by
• 08:52offering,
• 08:53education such as our product
• 08:56VentureLab Canvas. This is something
• 08:57new that we've just launched
• 08:59this spring,
• 09:00and it's content for Yale
• 09:02faculty and their teams,
• 09:04by Yale experts.
• 09:06And so we have on
• 09:08the VentureLab Canvas portal,
• 09:10a series of resources that
• 09:12are just quick consumable,
• 09:14ready to serve,
• 09:16educational resources about Yale Ventures
• 09:19and about
• 09:20how innovation
• 09:21is launched from Yale.
• 09:23And that includes,
• 09:25information on our IP and
• 09:26licensing team. So we encourage
• 09:28everyone to start with Venture
• 09:30Lab Canvas. Start by reaching
• 09:31out to me. I'm happy
• 09:32to to, you know, point
• 09:34you in the right direction.
• 09:35But VentureLab Canvas is a
• 09:36great place to start. And
• 09:38then we as Josh said,
• 09:39we also connect absolutely everyone
• 09:42who is interested in this
• 09:43space with an IP and
• 09:44licensing expert that can be
• 09:45their expert to help them
• 09:47understand
• 09:48what their intellectual property is
• 09:50and what the different means
• 09:51are to protect that intellectual
• 09:52property and then hopefully license
• 09:54it. We have our accelerators
• 09:56for the translational funding, but
• 09:57we also have teams of,
• 10:00VentureLab associates
• 10:01who are very talented,
• 10:04usually school of management, sometimes
• 10:05school of medicine, and school
• 10:07of public health,
• 10:09students.
• 10:10Postdocs, grad students who are
• 10:12trained to provide services for
• 10:14our faculty innovators. And so
• 10:16we have a at at
• 10:18any point in time, we've
• 10:18got a large stable
• 10:20of really talented
• 10:22individuals
• 10:23that can help you think
• 10:24through your product, think through
• 10:25your innovation, think through the
• 10:27the competitive landscape,
• 10:29and really understand better what,
• 10:32innovation in that space needs
• 10:33to look like.
• 10:35And then we also do
• 10:36our customer discovery program, which
• 10:38is a program that I
• 10:39run through the, an NSF
• 10:41grant. It's called I Corps,
• 10:43and it really helps you
• 10:44to map out a path
• 10:45to the customer.
• 10:46And then we go all
• 10:47the way through prototype development
• 10:49and piloting. One of the
• 10:50big bottlenecks for a lot
• 10:51of innovation
• 10:52is actually having a site
• 10:54to take that first step
• 10:56of piloting the product in
• 10:57the market. And so we
• 10:59help support efforts
• 11:01to get those
• 11:03original proof of concept and
• 11:04prototypes built and tested.
• 11:06We've got, a product called
• 11:08VentureLab Workshops that we use
• 11:10at inflection points when you've
• 11:12built an innovation and you're
• 11:13really trying to get past
• 11:14a few obstacles,
• 11:16business decisions that need to
• 11:18be made, we bring in
• 11:19experts to help you with
• 11:21that decision making process.
• 11:23Then whether it's a spin
• 11:24out to a company or
• 11:26whether it's a license to
• 11:27a third party, our IPM
• 11:29licensing experts are there to
• 11:30help with that as well.
• 11:32And then, all the way
• 11:33on the back end, when
• 11:34you're you're you're ready to
• 11:36reach market, we actually have
• 11:38great connections and support services
• 11:40for helping connect with other
• 11:42funding opportunities.
• 11:45This is another way of
• 11:46sort of showing the same
• 11:48information, which is we wanna
• 11:50help you all the way
• 11:50from the ideation phase all
• 11:52the way through launch. And
• 11:53we've got a variety of
• 11:54different programs to help with
• 11:56all of those
• 11:58different phases
• 11:59of
• 12:00of, launching a commercial
• 12:02product.
• 12:04The ideation phase is particularly
• 12:05important. We really encourage you
• 12:07to reach out to us
• 12:08early. You it's never too
• 12:10early to reach out to
• 12:11us with an idea.
• 12:13We're here to talk. We're
• 12:14here to help you think
• 12:15through the idea and just
• 12:16be, you know, excellent thought
• 12:18partners with you.
• 12:21I'm gonna go through just
• 12:22a couple more of the
• 12:24specific programs in a little
• 12:25bit more detail.
• 12:27Again, it's never too early
• 12:28to reach out to us
• 12:29with an idea. So if
• 12:30you have a, a well
• 12:32thought out
• 12:33idea or a concept for
• 12:35an innovative product or service,
• 12:38you can come to us
• 12:39and we can help you
• 12:40think through who the paying
• 12:41customer might be for that
• 12:43for that innovation. We encourage
• 12:45everyone before you ever write
• 12:46a line of code, before
• 12:48you ever
• 12:49create,
• 12:51you know, your first,
• 12:53prototype,
• 12:54it's good to make sure
• 12:55that you really understand who
• 12:57the paying customer is
• 12:59at the back end of
• 12:59that process. And so we
• 13:01like to try and and
• 13:02push that up to the
• 13:02front and have you think
• 13:03through that very clearly through
• 13:05our I Corps program.
• 13:07And it's a brief program.
• 13:08It's it's you know, we
• 13:09do our our regional program
• 13:10here over two months. And
• 13:12over those two months, you
• 13:13do twenty interviews with potential
• 13:15customers just to validate your
• 13:17hypothesis and make sure that
• 13:19the the problem you think
• 13:20you're solving, that you've created
• 13:22the right solution, and that
• 13:23it fits.
• 13:26That you can also move
• 13:27on to the national I
• 13:28Corps program, which does come
• 13:29with a fifty k grant
• 13:30as well. We've had good
• 13:31success at getting our teams
• 13:32from the regional program into
• 13:34the national program.
• 13:37Just a few words about
• 13:38our investor network and fundraising
• 13:40support.
• 13:42So, you know, all of
• 13:43the steps we we find
• 13:44that faculty often come to
• 13:45us and say, they want
• 13:46to do this, but they
• 13:47just need help. They just
• 13:48need to be pointed in
• 13:49the right direction. And so
• 13:50we've got,
• 13:51you know, whether it's lawyers
• 13:52or accountants or,
• 13:54a variety of different services
• 13:55to set up the structure
• 13:56of your business,
• 13:58we can we can help
• 13:59support those efforts as well.
• 14:01And then we also have
• 14:02our investors in residence program.
• 14:04We'll talk about this one
• 14:06a little bit more,
• 14:08when we talk about our
• 14:09EIRs. But,
• 14:10we know that when you
• 14:12think about launching a business,
• 14:14when it comes to funding,
• 14:15we understand that you have
• 14:17to have the the viewpoint
• 14:19of the investor in mind.
• 14:21And so we try to
• 14:22support our ventures by having
• 14:24them think through,
• 14:26what their innovation,
• 14:27what their business, what their
• 14:28venture looks like from the
• 14:30lens of an investor.
• 14:33So our e more about
• 14:35our EIRs and IIRs. This
• 14:36is an incredibly useful asset
• 14:38that we have here at
• 14:39Yale.
• 14:40And and we're really very,
• 14:41very fortunate to have not
• 14:43only a group of two
• 14:45hundred volunteer EIRs and IIRs,
• 14:48in our,
• 14:50you know, at our,
• 14:53in our stable of assets.
• 14:55You know, we also have
• 14:57a a person who's devoted
• 14:58on our team, Min Kim,
• 14:59who curates this team and
• 15:01make sure that we have
• 15:02a wide variety of experts
• 15:04to meet all the various
• 15:05venture needs.
• 15:06And curation involves getting to
• 15:09know all of these EIRs
• 15:10and IIRs
• 15:12and making sure that we're
• 15:14engaging with them. These are
• 15:15we keep these folks pretty
• 15:16busy.
• 15:17We have a wide variety
• 15:18of ways that you can
• 15:19tap into this expertise as
• 15:21Yale faculty
• 15:22and work with somebody that
• 15:23is either actively engaged in
• 15:25the field you hope to
• 15:27you hope your venture will
• 15:28meet or,
• 15:30is
• 15:31is recently retired and and
• 15:33really has the bandwidth necessary
• 15:35to sort of walk you
• 15:36through the process of innovation.
• 15:38So, again, two hundred EIRs
• 15:40and IIRs.
• 15:42We distinguish between the two
• 15:43because sometimes
• 15:44it's very important to have
• 15:46the investment perspective,
• 15:47and that's a slightly different
• 15:49perspective
• 15:50than having those that have
• 15:51actual operator experience
• 15:53who have been in the
• 15:54field and have experience
• 15:56working,
• 15:57in
• 15:58the commercial markets,
• 16:00on the front line. So
• 16:01we like to have a
• 16:02series of both and to
• 16:04provide both to you.
• 16:06Just a few more words
• 16:07about the associates that I
• 16:08mentioned. You know, at any
• 16:10given point in time, we've
• 16:11got about sixty five associates
• 16:13that we've hired that are
• 16:15available to us. And some
• 16:16of them are dedicated to
• 16:17specific programs and others are,
• 16:20in our VentureLab
• 16:21pool of associates that you
• 16:22can tap just for short
• 16:24engagements.
• 16:25And this is a resource
• 16:26that we use, that I
• 16:28personally use quite a lot
• 16:29because when I'm working with
• 16:30a faculty member that has
• 16:31a particular challenge or a
• 16:33particular idea that needs development,
• 16:35it's it's invaluable to get
• 16:37a really bright, talented
• 16:39student who can take on
• 16:41that challenge, really study the
• 16:42marketplace, do all of the
• 16:43market landscape mapping, and help
• 16:46you understand
• 16:47what the opportunity really is.
• 16:49So, these two assets combined
• 16:52together,
• 16:53VentureLab
• 16:54associates as well as our
• 16:55EIRs and IIRs.
• 16:58We combine those two assets
• 16:59in VentureLab workshops,
• 17:01which is where when any
• 17:03innovation is at an inflection
• 17:05point or a faculty member
• 17:06just feels like they they
• 17:07have an idea that needs
• 17:08additional guidance and support, we
• 17:10put together a ninety minute
• 17:12workshop. We have you work
• 17:13with the associates to really
• 17:15build,
• 17:16a compelling story to tell
• 17:18to a panel of EIRs
• 17:20and IIRs.
• 17:21So we have ninety minutes
• 17:22for them to
• 17:24to talk to them and
• 17:25to get their perspective on
• 17:26the business decision that you're
• 17:28trying to make.
• 17:31So I'm gonna pass off
• 17:32to Jim Boyle now who's
• 17:34gonna walk you through those
• 17:35translational funds,
• 17:37specifically our Yale accelerators. Jim?
• 17:39Thanks, Susan.
• 17:41Good afternoon, everyone.
• 17:42I I just wanted to
• 17:43sort of, like, touch upon
• 17:44the fact that, first of
• 17:45all, names,
• 17:46my responsibilities are all faculty
• 17:48facing programs,
• 17:50including these accelerators. You see
• 17:52a picture here on the
• 17:52screen in front of you.
• 17:54This is usually where we
• 17:55get greater share of, faculty's
• 17:57attention because we're talking about
• 17:59money. And we realize how
• 18:00important having having access to
• 18:02capital is for derisking some
• 18:04of the science that you've,
• 18:06that you've started that you
• 18:07feel like you you have
• 18:08more work to do. But
• 18:09I think the the points
• 18:10that Susan's making about,
• 18:12the workshops and the people
• 18:14who can help shape
• 18:16the early ideas that that
• 18:17faculty bring,
• 18:18to us for consideration and
• 18:20for and for possible commercialization
• 18:23is very, very important.
• 18:24The dollars by themselves
• 18:26are are fabulous. We're very,
• 18:28very lucky to have so
• 18:28much,
• 18:29generous donor support of these
• 18:31funds, and I'll talk about
• 18:32them in a second. But
• 18:33I think and this is
• 18:34really the call to action,
• 18:35you know, where faculty see
• 18:36us as as sourcing, as
• 18:38being responsible for the distribution
• 18:40of these funds.
• 18:41We have external advisory boards
• 18:43of folks from industry who
• 18:45help us choose the best
• 18:46projects in each of these
• 18:47areas.
• 18:48The Blavatnik Fund for, what
• 18:50what are cons considered to
• 18:51be breakthrough therapeutics, the
• 18:54Innovation Fund for, new technologies
• 18:56coming from the school of
• 18:57school of engineering, and that
• 18:58can be a collaboration between,
• 19:01folks from elsewhere in the
• 19:02university too, but there has
• 19:03to be at least one
• 19:04faculty member from engineering on
• 19:06that team.
• 19:07The Colton Center, four projects
• 19:08involve involving either, allergy or
• 19:11immunity or autoimmunity.
• 19:13The brand new fund, HealthTechWorks,
• 19:16thanks to, a lot of
• 19:18a lot of heavy lifting
• 19:19by by Susan to think
• 19:20about this this new initiative.
• 19:22We're now,
• 19:24focusing
• 19:25on a non therapeutics health
• 19:27care track
• 19:28for all the folks who
• 19:29have ideas that do not
• 19:30lead to,
• 19:32to therapeutic solutions, to pills
• 19:34in a bottle. So this
• 19:35includes
• 19:36devices diagnostics, digital health, clinical
• 19:38decision support. So this is
• 19:40the broad category. We're very
• 19:41fortunate to have, this new
• 19:43fund and and a new
• 19:44director to to lead this,
• 19:46for the university, and we'll
• 19:47be accepting applications later this
• 19:49year for that track.
• 19:51And lastly, planetary solutions, which
• 19:52is a fancy way for
• 19:53you all to say, climate
• 19:55tech and things that,
• 19:57help mitigate, climate,
• 19:59climate change.
• 20:00All of these funds collectively
• 20:02are you know, we're putting
• 20:03in somewhere between six and
• 20:04seven million dollars a year.
• 20:06Awards range on the low
• 20:08side,
• 20:08about fifty or eighty thousand
• 20:10dollars on the high side.
• 20:11In Blavatnik, as much as
• 20:13three hundred or four hundred
• 20:14thousand dollars.
• 20:15The call to action for
• 20:17faculty is generally once or
• 20:19at most twice a year.
• 20:20In the in the case
• 20:20of Blavatnik, we have many
• 20:22awards in the in the,
• 20:24late late spring, early summer
• 20:25called accelerator grants and then
• 20:27a larger process in the
• 20:28fall. All of these, processes
• 20:31will have,
• 20:33a cycle coming this coming
• 20:34fall, especially Colton and HealthTechWorks
• 20:37and Blavatnik. So we would
• 20:38strongly encourage
• 20:40anyone interested or or colleagues
• 20:42of yours who may not
• 20:42have been able to join
• 20:43this call to to keep
• 20:44your eyes open for that,
• 20:45and we'll certainly pass that
• 20:47those dates along to you
• 20:48as well.
• 20:50Susan, can you go to
• 20:50the next slide, please?
• 20:56The spinouts is,
• 20:58I I won't spend too
• 20:59much time looking at at
• 21:00the spinouts other than to
• 21:02say, historically,
• 21:03it's been dominated by folks
• 21:04who have been,
• 21:06in health care generally
• 21:08and in therapeutics in particular.
• 21:10But in recent years, we've
• 21:11seen a market increase of
• 21:13of folks from other schools
• 21:15and from other programs
• 21:16coming up with, either
• 21:18research
• 21:21tools, new new techniques for
• 21:23making making, elaborate measurements,
• 21:25in laboratories
• 21:26as well as, devices and,
• 21:29some,
• 21:29some health care,
• 21:31health care,
• 21:33software companies as well. So
• 21:34this is something that we're
• 21:36we're we're hopeful to have,
• 21:39a constant stream of companies
• 21:40in in the near future
• 21:41coming to us outside therapeutics
• 21:44as well.
• 21:45The recent IPOs, you may
• 21:47have seen the names, you
• 21:48may have seen the name,
• 21:50for instance, such as as
• 21:51Innozyme.
• 21:52Many of these companies here,
• 21:54while
• 21:55they're we're very proud to
• 21:57say that, you know, they've
• 21:58they've had exits.
• 21:59Sometimes they're years in the
• 22:00making. Innozyme,
• 22:02which is which which was
• 22:03founded by,
• 22:04our colleague, Demetrius Braddock from,
• 22:07from the Department of Pathology,
• 22:08that was an idea that
• 22:10Demetrius first came
• 22:11came up with more than
• 22:13a decade ago,
• 22:14to to help patients who
• 22:15are suffering from an enzyme
• 22:17deficiency, e n p p
• 22:18one.
• 22:19And it's but it's taken
• 22:20more than a decade for
• 22:22him and his startup to
• 22:23basically get to the point
• 22:24that they're they're now, they
• 22:26were just recently last year
• 22:27acquired by a much larger
• 22:29biotech company, BioMarin.
• 22:31So now they're they're in
• 22:32a in a much better
• 22:33position to help bring bring
• 22:34solutions to patients.
• 22:39Susan, can you can you
• 22:40go to the next slide,
• 22:41please?
• 22:43A a couple a couple
• 22:44of other companies here that
• 22:46are are worth mentioning.
• 22:48For instance, you know, just
• 22:49staying on the theme of
• 22:51of researchers from Yale who
• 22:53have long,
• 22:55labored in the laboratory with
• 22:57with unique solutions.
• 22:58John Crystal, who, has been
• 23:00here for a great many
• 23:01years. I'm sure many of
• 23:02you know John. You know,
• 23:03John has long been,
• 23:05a disciple of, of the
• 23:07glutamate receptor as a as
• 23:08a way to affect solutions.
• 23:10And it was it was
• 23:11John's insight
• 23:13on glutamate rather than serotonin
• 23:14that led to the breakthrough
• 23:16for Halder Therapeutics, which was
• 23:18one of the largest acquisitions,
• 23:21of a of a Yale
• 23:22startup,
• 23:23ever when it was acquired
• 23:24by J and J, for
• 23:25for three billion dollars.
• 23:27Not to be outdone, we're
• 23:29we are beginning to see,
• 23:31signs of of,
• 23:33of serious commercialization
• 23:34coming from the other side
• 23:35of campus too.
• 23:37Yale, as some of you
• 23:38might know,
• 23:39has been famous for a
• 23:40number of years for its
• 23:42deep research in the in
• 23:43the in the, quantum space,
• 23:45the quantum computing space, and
• 23:47Quantum Circuits, which was one
• 23:49of us one of the
• 23:49startups started by one of
• 23:50our faculty members in engineering.
• 23:52Rob Fulkoff
• 23:53was acquired recently by another
• 23:55company for a significant amount
• 23:57of money. And we think
• 23:58this is gonna usher in
• 23:59a a very important age
• 24:00for for deep tech coming
• 24:02from the other side of
• 24:03campus too. So we're excited
• 24:04we're excited to see that.
• 24:06Susan, can you go to
• 24:07the next slide?
• 24:11On the licensing side of
• 24:12the house, I think it's
• 24:13also fair to say that
• 24:15while while we're we're very
• 24:16proud of the startups that
• 24:17we we formed, we don't
• 24:19want every faculty member to
• 24:20think that we're only interested
• 24:22in in faculty members becoming
• 24:24entrepreneurs themselves and having to
• 24:26run a new start up.
• 24:27We are very pleased when
• 24:29we can help affect the
• 24:31transition of technologies
• 24:32as licenses
• 24:34from the university laboratory out
• 24:35to larger concerns. So we
• 24:37really we really want faculty
• 24:39members to to, to be
• 24:41mindful of the fact that
• 24:41we'll work with them too
• 24:42to find enterprise licensees for
• 24:44their technologies.
• 24:45Not everything has to be
• 24:46a start up, and I
• 24:47think that's an important statement
• 24:48to make.
• 24:53I'm gonna I'm gonna let,
• 24:55our colleague, Josh, talk about
• 24:56the summit because I know
• 24:57this has been something that
• 24:58he has he has labored
• 25:00on since he first joined
• 25:01us a few years ago,
• 25:02and I know he's, he
• 25:03has lots to say about
• 25:04this. Okay. Well, this is
• 25:05the last bit, but this
• 25:06is a this is a,
• 25:08an encouragement actually to join
• 25:10us.
• 25:11So I mentioned earlier that
• 25:12we do a lot of
• 25:13events at Yale Ventures, and
• 25:14that's really,
• 25:15an opportunity to bring people
• 25:17together, to bring investors
• 25:19to New Haven,
• 25:20who may not be here
• 25:21full time from, you know,
• 25:22coming down from Boston or
• 25:23from New York or elsewhere,
• 25:26and industry partners to meet
• 25:27you, to meet our faculty,
• 25:28to meet our innovators, and
• 25:30meet our emerging start ups.
• 25:32And the biggest one of
• 25:33the year is in two
• 25:34weeks. Two weeks from today
• 25:35actually kicks off, the Yale
• 25:36Innovation Summit.
• 25:38There's a robust,
• 25:40six track agenda here that
• 25:42includes a biotech track, a
• 25:43health track,
• 25:44as well as other tracks
• 25:46that represent the breadth of
• 25:47innovation at Yale, including
• 25:49civic and climate and,
• 25:51tech and arts even. And
• 25:53all those tracks have,
• 25:55panels with,
• 25:56experts talking about trends in
• 25:58the in the industry. There's
• 26:00pitch competitions. I believe,
• 26:01over two hundred and sixty,
• 26:03startups will be pitching for
• 26:05over three hundred and fifty
• 26:06thousand in prize money,
• 26:09and there's great food and
• 26:10concerts and a lot of
• 26:12fun as well. So,
• 26:13we encourage you to join
• 26:14us. If you go to
• 26:15ventures dot yale dot e
• 26:16d u, you'll be able
• 26:17to find the registration without
• 26:18too much trouble. But if
• 26:20you're at all interested in
• 26:21this area
• 26:22of action at Yale, I
• 26:23definitely encourage you, find some
• 26:25time to stop by the
• 26:26summit,
• 26:27and take it in.