October 2010 - Michigan Energy Forum - Jim O'Connell
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The Michigan Venture Center aims to enhance start-up opportunities at the University of Michigan by focusing on business formation and mentorship, leveraging university and external partnerships. It highlights its strengths, such as the top ranking of UMich's Office of Technology Transfer, and emphasizes the need for resources like incubation facilities and post-launch business development. Key challenges identified include the requirement for fundable management and managing a gap in funding for 12-18 months outside the university.
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October 2010 - Michigan Energy Forum - Jim O'Connell
- 1. Michigan Venture Center The One-Stop Hub for U-M Start-Up Venture opportunities Jim O’Connell
- 2. Michigan Venture Center • Expand on existing Business Formation Group • Expand our mentoring and development talent • In-depth knowledge of our venture partners – be the “go-to” team for great venture opportunities • Leverage our University and external partnerships
- 3. Michigan Venture Center • Leverage Current Strengths – Umich OTT top five nationally in all metrics – Core business formation staff – Team approach with licensing, legal, marketing – A focus on talent (utilizing alumni / local connections) – U-M internal partnering for innovation, translation research funds and student talent – External partnering for pre-seed funds, talent and business acceleration resources
- 15. Expanded Services to Consider • Incubation facilities and equipment • Business services (legal, accounting, business development) • Post-Launch business development/expansion
- 16. Jim’s Opinion: Biggest Challenges to Creating More Ventures • Fundable management • 12- 18 Month “Gap” outside the university