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This course is for experienced technology transfer managers whose portfolios includes expertise technologies, that may be best commercialised in a spin-out company.

Why Join This Course?

The course is interactive, you will learn through case studies and role play facilitated by those who have been actively involved in building, financing and managing successful university spin-outs.

Who Should Attend?

This course is for experienced technology transfer managers whose portfolios includes expertise technologies, that may be best commercialised in a spin-out company. We explore what sort of technologies are best commercialised in this way, and the role of TT managers in setting the initial business strategy.

Learning Objectives

  • Gain an overview on the process of spinning out a company from a research institution
  • Introduction to funding, especially venture capital (VC) financing
  • How to manage conflicts of interest regarding scientists, founders, research institutions and TTOs
  • Deepen your knowledge using interactive case studies

Course Topics

  • When and why to spin-out
  • Agile approach to creating a new venture
  • Acting like an entrepreneur
  • Building a management team and distributing equity
  • Strategic Financing
  • Due diligence
  • Managing conflicts of interests
  • Surviving a spin-outs
  • Legal  Agreements
  • Creating and analysing a Term Sheet
  • Managing equity investments
  • Programme
  • Speakers

Programme

  • Mon 17 October 2022

    • 09:00 - 09:30    Course introduction

    • 09:30 - 10:30    When and why to spin-out

      There are basically two ways of commercialising a new technology as a result of academic research: licensing as is and adding value in a spin-out. How do you decide whether to form a spin-out: what are the criteria and when is the decision made?

      Here we explore the decision making process and some bad reasons for spinning out.
      Jeff Skinner

    • 10:30 - 10:45    Coffee Break

    • 10:45 - 12:15    Agile approach to creating new venture

      In the bad old days we needed a business plan to be taken seriously internally or by investors. Such plans looked lovely but were often works of fiction. Then came a new – and to most of us – refreshing methodology called ‘lean’. This prioritised purposeful experimentation and ‘customer discovery’ over planning.

      In this session explore what ‘lean’ means for us and how it shapes our role.
      Jeff Skinner

    • 12:15 - 13:00    Lunch Break

    • 13:00 - 14:30    Acting like an entrepreneur

      What does it mean to be a ‘commercial manager’ of a tech-based entrepreneurial venture? We need to know, partly because to begin with we are often thrust into this role and partly because most ventures need to recruit such a person. We should know what role they fulfill, the right skills and attitudes and what might go wrong unless there’s a good peer-to-peer relationship with the academic leads. 
      In this session, we study the tactics of one such person, learning what, how, and why they prioritise in order to add value to a new venture.

      Jeff Skinner

    • 14:30 - 15:00    Coffee Break

    • 15:00 - 16:30    Building a management team and distributing equity

      Most new ventures develop for a year or more before they raise any money at all. However, a lot of people can be involved and somehow their input has to be paid for, or at least recognised. The only currency a spin-out has is equity and it’s tempting to start allocating shares to contributors. Sometimes this is a good thing but mostly it isn’t (or is premature) especially when talking percentages.

      Here we look at one case where equity is being carved up - we ask who should get what and whether there are alternatives form of ’compensation’.
      Jeff Skinner

    • 16:30 - 17:30    IP as the Primary Asset

      Intellectual property is one of the core assets in any new venture (alongside an entrepreneurial team). It serves as a deterrent to imitators (should the venture become successful) and therefore gives investors assurance that they’ll have a monopoly position and a healthy return on investment. It also acts as a non-compete clause from the academic founders themselves.

      However, spin-outs are fragile so we need to take greater care when licensing to a new venture in case it fails. In this session, we examine the terms under which IP should be licensed to a spin-out.
      Tanja Benedict

  • Tue 18 October 2022

    • 09:00 - 10:15    Managing conflict of interest

      Founding academics are vital to the business in the early years but few leave their posts within the university. It is better for the company and the university, and the academic, if they keep a close association with both. However, this entails the academic wearing multiple ‘hats’ and creates the potential for conflict of interest situations which need to be managed. What is the KTO’s role in minimising and managing these conflicts?

    • 10:15 - 10:30    Coffee Break

    • 10:30 - 11:30    Creating and analysing a Term Sheet

      In the process of creating a startup, a term sheet is a relevant document to “summarise” basic elements of a (to be agreed upon) negotiation / discussions

      A term sheet can be used to summarise the IP agreements, can be used to summarise financing details of your start up, can be used for a SPA agreement, and so on. In this session you will learn about key elements, do’s and don’ts and also analysing and interpreting term sheets.
      Anja Zimmermann

    • 11:30 - 12:30    Legal Agreements

      The legal agreements for a spin-out are far more complex than any Research and Development or license agreement.

      There can be many separate agreements covering different aspects of the investment, the company, and the relationship with the university.

      The structure of these documents can set the agenda for the negotiations and it is vital that the KTO has a clear understanding of what and who (potentially, up to four sets of lawyers) is involved.

    • 12:30 - 13:15    Lunch Break

    • 13:15 - 16:15    What an investor looks for in potential investments

      For this session, we invite an investor, who is often the first customer of a new venture, to talk about what they look for in a new venture.

      An opportunity to ‘test’ some of the suggestions we’ve made over the last couple of days.

    • 14:15 - 15:15    Strategic Financing

      Getting equity instead of an upfront payment is standard when founding a spin-off company from a research organisation. This session gives an introduction to the skills set needed to manage equity.

      You will look into:

      What is Equity? TLA? - Ideal cycle of funding - Exit mechanisms - IPO - Acquisition? and “The Dark Side” … may the force be with us.

    • 15:15 - 15:45    Coffee Break

    • 15:30 - 16:30    Surviving a spin-out

      For us, a spin-out is just another project. For the founding team of researchers, it can be their moon-shot. It may be the best idea they will ever have. Moreover, it will necessitate them dedicating themselves to the venture, often at the expense of their academic careers. The risks are high and the rewards uncertain

      For this session, we’ve invited a researcher who founded a new diagnostics company two years ago and who is now, enjoyably, getting it off the ground. We have asked her to tell the story of her business so far and to talk about what it has meant for her personally.

    • 16:30 - 17:30    How to use, rather than waste, ‘Proof-of-Concept’ funds

      Nowadays many KTOs have access to early-stage financing (PoC-type) funds and this will be the first independent source of dedicated finance. The tragedy is that this funding is very often wasted, either spent on the wrong things or the right things but in the wrong order.

      The key is prioritisation and in this session, we explore how you decide how to spend early-stage financing to the greatest effect. We also show how such thinking links to investment strategy.
      Jeff Skinner

  • Wed 19 October 2022

    • 09:00 - 09:45    Preparing for exit

      Everyone is looking to exit someday. What are the primary routes and alternatives to exit? What are the stages along the way in terms of company-building, finance and regulatory? How does the exit strategy affect the strategy within the company and the behaviour/thinking of those involved in the company? What are the preparations and processes that have to be in place from the start?
      Anja Zimmermann

    • 09:45 - 10:45     Due diligence requirements of an investor

      Investors need to be assured that the spin-out owns all its assets and has no lurking liabilities. This is what the ‘due diligence' process is about – essentially a lot of questions that the founders (academics plus university) need to answer with promises (warranties) or documents.

      This can be trivial if you are disciplined (build a ‘document room from day one) but will be a nightmare if you leave it until the last minute or do things in too informal a way. In this session, we look at a semi-fictional case – asking whether the highly-entrepreneurial founders sowed the seeds of their own oblivion.

    • 10:45 - 11:00    Coffee Break

    • 11:00 - 12:30    Valuation

      How do you determine the value of an early-stage venture? There are a number of different methods, some theoretical to the point of useless, some vague but defensible and others without any basis whatsoever (but still used!) The truth is that each has merits and are best used in combination, but how?

      In this session, we study the different methods of early-stage valuation and use a simulation (circulated beforehand) in an attempt to weave them together and help you to make sense of them all.
      Jeff Skinner

    • 12:30 - 13:15    Lunch Break

    • 13:30 - 15:30    When a bad strategy can kill a great technology

      In this summative session, we explore the reasons for an apparent new venture failure – specifically whether the technology itself was at fault (inasmuch as it offered no compelling advantage) or whether the commercial strategy and management were at fault. Having thoroughly dissected the strategy we ask whether the founder has built any value in the business – and so whether it’s worth reviving.

      This session illustrates - and thus gives you the opportunity to apply - many of the topics covered over in the course.

      Jeff Skinner

    • 15:30 - 16:00    Course wrap-up

      Review of the learning achieved in the course, a wrap up of the teaching and evaluation of the work.

Speakers

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What people say about us

ASTP corroborates the strong need for profound insights and exchanges on practices, instruments and competencies that cut across functional, organisational, institutional, sectorial and geographic boundaries.

Koenraad Debackere
Koenraad Debackere - KU Leuven, Belgium

What people say about us

I learned more in the training course for 3 days than I did in the last 3 months at my job. The lectures were informative & interesting.

Hanna Sonnig
Hanna Sonnig - Setterwalls Advokatbyrå, Sweden

What people say about us

Organisation and speakers were great, so enthusiastic about their work and very good at transferring their knowledge.

Sarka Bartova
Sarka Bartova - Research Centre Rez, Czech Republic

What people say about us

ASTP brought the right structure and terminology to my knowledge of technology licensing.

René Widmer
René Widmer - ETH Transfer, Switzerland

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The course exceeded my expectations. We exchanged experiences and learned different options of approaches to existing problems.

Patricia Lima
Patricia Lima - Instituto Superior Technico, Portugal

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Most relevant, interesting and practical training I have ever had, very interactive an multi-disciplinary. It makes an IMPACT.

Edith van Lishout
Edith van Lishout - KU Leuven, Belgium

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ASTP Conference offers great networking and learning opportunities;  a chance to share knowledge with colleagues from various areas of expertise.

Bruno Woeran
Bruno Woeran - Merinova OY - TII President, Finland

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International presence is amazing, so many countries, universities... represented here!!

Christian Massus
Christian Massus - SATT Aquitaine, France

What people say about us

As always, superb topics and inspirational speakers. Great networking. Well worth the time out of the office!!! Great work HQ, thank you.

Peter Deakin
Peter Deakin - Chalmers University of Technology, Sweden

What people say about us

This course gives an in-depth understanding on managing contract portfolio, including research contracts, license agreements, and other collaboration agreements.

Ram Siddappa
Ram Siddappa - Erasmus MC, Netherlands

What people say about us

Most experienced technology transfer crew in the Europe.

Krzysztof Maternicki
Krzysztof Maternicki - Jan Dlugosz University, Poland

What people say about us

Just perfect 3 days full of information and perfect communication.

Petr Kubečka
Petr Kubečka - Palacký University Olomouc, Czech Republic

What people say about us

The course Software Specific Challenges is a must for every TTO/KTO professional, especially for those working with Social Sciences and Humanities!

Brechtje Vreenegoor
Brechtje Vreenegoor - Radboud University, Netherlands

What people say about us

Fruitful discussion.

Cecile Henrich-Burkhardt
Cecile Henrich-Burkhardt - Technical University of Munich, Germany

What people say about us

Technology transfer is ever changing and a key piece for the competitiveness of your institution, this course is an excellent tool to prepare yourself for that challenge.

Ricardo Castro
Ricardo Castro - Centre for research in agricultural Genomics, Spain

What people say about us

I am happy to be able to share my own experiences with other colleagues via various courses, and I enjoy every moment I can spend in this network. Proud to be part of the ASTP community!

Paul van Dun
Paul van Dun - KU Leuven, Belgium

What people say about us

Thank you for such enjoyable inspiring event, great choice of the lecturers!!!

Linda Ondrackova
Linda Ondrackova - University of Pardubice, Czech Republic

What people say about us

Recent studies on both sides of the Atlantic, directed by either ASTP or AUTM, demonstrate the tremendous economic and societal benefit and value technology transfer has brought us.

Koenraad Debackere
Koenraad Debackere - KU Leuven, Belgium

What people say about us

A lot of fruitful discussions with experienced peers. Very helpful sessions.

Sara Matt-Leubner
Sara Matt-Leubner - University of Innsbruck, Austria

What people say about us

The event had something to offer all members of the TT community from entry level to mid-career and beyond.

John Gleeson
John Gleeson - University of Limerick, Ireland

What people say about us

Was great to meet counterparts in my profession who may share my experiences, but who may also have other ideas and approaches.

Tim Moser
Tim Moser - Netherlands Cancer Institute, Netherlands

What people say about us

I had a great experience and met high profile professionals.

Antonio Menegatti
Antonio Menegatti - Politecnico di Milano, Italy

What people say about us

This was the right decision giving me the broadest overview, confidence, tools, network and support that is fundamental to feel right in my daily decision process and to keep on learning.

Ricardo Castro
Ricardo Castro - Centre for research in agricultural Genomics, Spain

What people say about us

The best opportunity to learn and discuss common issues and interests directly with peers.

Ian Nicoud
Ian Nicoud - LURIS, Netherlands

What people say about us

One very long and hard day, but very useful for my work in TTO.

Petr Kubečka
Petr Kubečka - Palacký University Olomouc, Czech Republic

What people say about us

Exciting training, even after almost 10 hours I am curious about more experience and knowledge.

Petr Suchomel
Petr Suchomel - Palacký University Olomouc, Czech Republic

What people say about us

The experts, the specific content and the informal setting will improve you as a professional.

Brechtje Vreenegoor
Brechtje Vreenegoor - Radboud Universteit, Netherlands

What people say about us

This course gives an in-depth understanding on managing contract portfolio, including research contracts, license agreements, and other collaboration agreements.

Ram Siddappa
Ram Siddappa - Erasmus MC, Netherlands

What people say about us

Perfect place to meet colleagues and share experiences on Technology Transfer.

Lidia Aguilera
Lidia Aguilera - University of Luxembourg, Luxembourg

What people say about us

Good opportunity to discuss common issues with fellow professionals and to get updates about the community.

Giuseppe Visimberga
Giuseppe Visimberga - Leiden University, Netherlands

What people say about us

Perfect balance of learning and networking.

Smiljka Vikic-Topic
Smiljka Vikic-Topic - University of Zagreb, Croatia

What people say about us

ASTP has excellent courses to immerse yourself into the world of tech transfer.

Qing Cai
Qing Cai - Vrije Universiteit Brussel, Belgium

What people say about us

It was great to experience the uncomplicated and fruitful exchange with colleagues from all over Europe, as well as the positive professional spirit of this conference.

Franck Döbrich
Franck Döbrich - Universitat des Saarlandes WuT GmbH, Germany

What people say about us

ASTP Annual conference is a unique opportunity to take time to exchange best practices among TT professionals and to network at an EU level.

Cécile Cavalade
Cécile Cavalade - ULB TTO, Belgium

What people say about us

It is always encouraging to see that other TTOs are encountering the same problems that we do!

Aurore De Boom
Aurore De Boom - Université Libré de Bruxelle, Belgium

What people say about us

ASTP has attained a unique position that has turned it into a highly valued player on the global technology transfer scene.

Koenraad Debackere
Koenraad Debackere - KU Leuven, Belgium

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Starting or changing any procedure at a TTO/Institution is challenging and I could not think of anything better than learning with the best.

Ricardo Castro
Ricardo Castro - Centre for research in agricultural Genomics, Spain

What people say about us

Excellent organisation, multifarious activities, great atmosphere… I can't say enough about how well it is tailored to the needs of technology transfer professions.

Tamara Čolić Milosavljević
Tamara Čolić Milosavljević - Centre of Technology Transfer - University of Belgrade, Serbia

What people say about us

This is a wonderful conference to expand the horizon of my knowledge of tech transfer and commercialisation.

Seung-Ho Lee
Seung-Ho Lee - Deltatech-Korea, South Korea

What people say about us

Three days of learning and networking in Dublin at ASTP annual conference. What a great event!!

Sandra Aresta
Sandra Aresta - CIBIO - Centro de Investigação em Biodiversidade e Recursos Genéticos, Portugal

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The new website signals this pioneering, resonating role and is a tribute to the many accomplishments and innovations European TTO’s have generated and implemented over many years, thus strengthening both our economy and society.

Koenraad Debackere
Koenraad Debackere - KU Leuven, Belgium

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Great atmosphere to learn and to share experiences.

Maria Ruiz Novales
Maria Ruiz Novales - Interface-Enterprises - University of Liege, Belgium

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Excellent professional gathering, perfect collection of topics and very up-to-date insight.

Ludovic Urgeghe
Ludovic Urgeghe - University of Mons, Belgium

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Great networking, new knowledge and inspiration!

Jonas Rimbäck
Jonas Rimbäck - University of Gothenburg, Sweden

What people say about us

The software training filled in the many blanks and brought my 'fractioned' knowledge in a structured way. Very useful!

Ilse Sienaert
Ilse Sienaert - KU Leuven R&D, Belgium

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A must-do for any staff involved in technology transfer and start-up creation.

Frederic Ratel
Frederic Ratel - Institute of Chemical Research of Catalonia, Spain

What people say about us

ASTP's conference helped us to network with decision-makers in the technology transfer industry and provides a great platform to discuss future innovation in this sector.

Christopher Römer
Christopher Römer - Inventtory, Germany

What people say about us

Always simply inspiring! That is ASTP.

Filip Auinger
Filip Auinger - Palacký University Olomouc, Czech Republic

What people say about us

From day one ASTP has been a tremendous help. Learning throughs seminars and workshops or meeting peers for discussions, there is always someone around to exchange ideas with.

Paul van Dun
Paul van Dun - KU Leuven, Belgium

What people say about us

I strongly recommend the course, even if you are not going to set-up an office but you are part of the team that wants to change or improve how technology transfer is done at your institution.

Ricardo Castro
Ricardo Castro - Centre for research in agricultural Genomics, Spain

What people say about us

I really like the course and the networking. I would like to come again.

Nancy Goel
Nancy Goel - Qatar Foundation, Qatar

What people say about us

This course offers an opportunity to meet likeminded people, share tips and tricks, and dive into different approaches to help you set up and improve KTO processes.

Brechtje Vreenegoor
Brechtje Vreenegoor - Radboud University, Netherlands

What people say about us

Great networking and learning opportunities to share knowledge with colleagues from their various areas of expertise.

Bruno Woeran
Bruno Woeran - Merinova OY - TII President, Finland

What people say about us

There was ample opportunity to learn from colleagues through the workshop sessions or more formally through speakers either sharing their years of experience or their state of the art research. Well worth attending.

John Gleeson
John Gleeson - University of Limerick, Ireland

What people say about us

The expert-panel discussion educated me in strategic and meritorious choice of inventions to approach investors and manage investment funds for establishing a spin off.  

Ram Siddappa
Ram Siddappa - Erasmus MC, Netherlands

What people say about us

Working and Learning with old and new friends – best way to do it!

Sara Matt-Leubner
Sara Matt-Leubner - University of Innsbruck, Austria

What people say about us

The software course has provided invaluable information as our TTO expands to take on software cases.

Tom Withnell
Tom Withnell - University of Vienna, Austria