eavesdropping in houston

Overheard: Houston experts discuss how to navigate tech transfer

Panelists from the University of Houston and Houston Methodist discussed tech transfer challenges and opportunities for academic innovators. Photo courtesy

Groundbreaking and disruptive innovations across industries are coming out of research institutions, and their commercialization process is very different from other startups.

An expert panel within Technology transfer discussed some of the unique obstacles innovators face as they go from academia into the market — like patenting, funding, the valley of death, and more.

Missed the conversation? Here are eight key moments from the panel that took place at the University of Houston's Technology Bridge on Wednesday, May 19.

This event was hosted by InnovationMap and University of Houston.

“If your technology can immediately impact some industry, I think you should license out your technology. But if you think that the reward is much higher and does not yet match something in the industry, you should go the high risk, high reward path of doing it yourself. That’s a much more challenging. It takes years of work.”

— Hadi Ghasemi, co-founder of Elemental Coatings and Cullen associate professor in the department of mechanical engineering at the University of Houston, says on how tech transfer usually happens via those two pathways. Ghasemi explains that it also depends on the academic's passion for the product and interest in becoming an entrepreneur.

“There’s a mismatch in that you can have a really clinically impactful technology but still not have money to develop it into a product.” 

— Rashim Singh, co-founder of Sanarentero and a research assistant professor of pharmaceutics at the University of Houston College of Pharmacy, says on the different priorities from within academia and within the market.

“What I’ve seen is if you know you want to patent something, tell the right people early. Make sure you have the right players involved. Our tech office already has venture, Pharma, etc. partners that can help with the patent process.”

— Ginny Torno, administrative director of innovation and IT clinical systems at Houston Methodist

“You don’t need to be fully transparent about your technology. As a company, you need to have some secret sauce."

— Ghasemi says on the patent and paper publishing process. Academics are used to publishing their research, but when it comes to business, you need to hold some things close to the chest.

“One of the most important piece the UH Tech Bridge has provided is the wet lab space to develop these technologies a little further toward commercialization. … Wet lab is very precious space in Houston specifically because there isn’t much here.”

— Singh says on how important access to lab space is to the entrepreneur.

"“You’re starting to see more and more organizations that have innovation arms. ... There are a lot of focus on trying to make Houston another innovation hub, and I think there is more support now than even a few years ago.”

— Torno says on what's changed over the past few years, mentioning TMC3 and the Ion.

“Try to serve private capital as soon as possible. The grant money comes, and those are good and will help you prove out your technology. But once you have private money, it shows people care about your product.”

— Ghasemi says as a piece of advice for potential tech transfer entrepreneurs.

“The biggest gap is to arrange for funding — federal, private, etc. — to support during the valley of death.”

— Singh says on the struggle research-based startups, especially in drug discovery, faces as they fight to prove out their product and try to stay afloat financially.

Trending News

Building Houston

 
 

In observance of Women’s Entrepreneurship Day on November 19, here are four key considerations for women who want to start their own businesses. Photo via Getty Images

Almost four years ago my business partner and I started Volante Integrated Planning, a Houston-based office of Northwestern Mutual focused on comprehensive financial planning. I always aspired to run a business; however, I knew there were many factors to consider before making that leap.

According to the 2022 Northwestern Mutual Great Realization survey, 24 percent of respondents say they want to start a new business in the next two years. While starting your own business sounds appealing, leaving your current job and becoming an entrepreneur can be a difficult transition and it’s no secret that women have to approach our career paths differently than men.

As I recognize there is no one-size-fits-all approach to starting and managing your own business, I wanted to share a few valuable lessons and key takeaways that I learned from my own experience:

1. Seek advice and counsel

When it comes to starting your own business, it’s important to go through the proper financial and legal steps. In order to do this, there are three people you should consider developing a relationship with. The first is a financial planner who can assist you in growing your business by creating a budget and finding ways to leverage your current assets to set you up for long-term success. The second is a Certified Public Accountant who has experience in your industry to help you navigate the unique intricacies of being a business owner. Lastly, an attorney who can help you draw up the necessary documents and think through what needs to be included to protect you and your family.

2. Build your team

You will always need a support system and business team to lean on no matter how much experience you have in your industry or in running a business. I knew early on that I wanted to partner with someone to make it more fun and add higher value to our clients. Before launching our business partnership, we went through varying business cycles together to ensure we would mesh well, from a value standpoint, both financially and personally. This business “courtship” is critical to ensure you build the kind of trust needed. It is also important to develop the culture and values you want for your business first and choose partners or team members that align with those values.

3. Don’t be afraid to be authentic

People are drawn to authenticity rather than if you try to fit into a box, which is why it’s important to stay true to yourself in all aspects of your business. By being your true, authentic self, you can put a plan in place to start a business that is a reflection of your values and morals. If being a working mom is a part of your identity, don’t be afraid to make that known to the team. There is nothing that says you have to start a business a certain way, so make it yours and own it.

4. Give yourself grace

As women, we have a tendency to want to do it all, but it’s important to give yourself grace and be intentional with how you prioritize your time. There are certain life factors and considerations that ultimately influence how women prepare for their financial futures, especially when it comes to running a business. If starting or managing your business is the priority at the time, it’s OK to let your social life or fitness routine, for example, take the back burner for a period of time.

Being a female business owner has its challenges, but it is also extremely rewarding. If you’re considering starting your own business, it’s important to remember to stay true to yourself and do your due diligence to prepare for whatever unique challenges may be thrown your way.

------

Jennifer Steil is a Houston-based financial planner for Northwestern Mutual.

Trending News