Tag Archives: sethuraman panchanathan

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ASU revises royalty policy, more proceeds to researchers

Arizona State University researchers with inventions licensed to existing companies or to form new startups will be entitled to a larger share of the proceeds under a new university policy developed by the Intellectual Property and Institutional Review Committee and approved by President Michael Crow.

Under the previous policy, net licensing proceeds (after administrative and legal fees) were split equally between the inventor(s), their lab(s) and the university. Effective as of Nov. 1, the “lab share” will be reduced so that a greater percentage of royalties flow directly to inventors.

“For the modern American research university, technology transfer is a critically important pathway for disseminating the knowledge needed to solve major societal challenges and boost our state and regional economies,” said Crow. “For the past decade we have reshaped our efforts in this area to engage more of the faculty in this process, speed the journey from lab to market and reward inventors for their time and effort.”

Technology transfer at U.S. research institutions is governed by the 1980 Bayh-Dole Act, which set consistent ground rules for inventions arising from federal funding. Prior to Bayh-Dole, the rights to most university technologies reverted to the funding agencies, with the result being that the government had successfully licensed fewer than five percent of the technologies represented by the 28,000 patents it had accumulated.

Bayh-Dole sought to spur innovation and increase the number of research discoveries that were translated into treatments, products or services that benefit the general public. Under its provisions, universities own these inventions and are required to share royalties with the inventors, though they have broad flexibility in how they structure the payouts.

“The changes to ASU’s royalty-sharing policy are designed to incentivize innovation and were adopted after an intensive process involving faculty input and deliberation,” said Sethuraman “Panch” Panchanathan, ASU’s senior vice president for Knowledge Enterprise Development. “The new model recognizes and incentivizes the transformational research being done by ASU faculty across every department and campus.”

For the first $10,000 in net income for a licensed technology: The creator(s) receive half of net royalties, with the lab receiving one-sixth and the university one-third.

After the first $10,000 in net income: The creator share varies by the number of listed inventors on a sliding scale from 40 percent for a solo inventor up to 50 percent for five or more. The university share remains one-third and the lab share adjusts accordingly. The lab share is capped at $2 million on an annual basis.

The full policy on royalty sharing is available here.

Arizona Technology Enterprises (AzTE) is a separate limited liability company formed in 2003 that acts as ASU’s exclusive intellectual property management and technology transfer organization. Funded by ASU, AzTE comprises industry and university professionals with extensive experience in technology evaluation, product development, marketing, capital formation, IP protection and licensing and commercialization.

ASU, through the activities of AzTE, is annually one of the top-performing U.S. universities in terms of intellectual property inputs (inventions disclosed by ASU researchers) and outputs (licensing deals and start-ups) relative to the size of the university’s research enterprise.

The Association of University Technology Managers (AUTM) prepares an annual report collecting the technology commercialization results for almost 200 universities and research hospitals. In the past five years, among research institutions that achieved at least $300 million in annual research expenditures, ASU was one of just four schools to achieve top 10 rankings for licensing agreements, startups and invention disclosures per $10 million in research.

In FY14, ASU faculty working with AzTE set new record highs in invention disclosures (261), U.S. issued patents (56), startups (12), and licenses and options (90).
To date, more than 70 companies have been launched based on ASU discoveries. In just the last three years, these companies and their sub-licensees have attracted $163 million in funding from venture capital firms and other investors.

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Obama appoints ASU leader to National Science Board

Sethuraman “Panch” Panchanathan, Arizona State University’s senior vice president of the Office of Knowledge Enterprise Development and a key member of ASU’s research and innovation efforts, has been appointed to the U.S. National Science Board by President Barack Obama.

Panchanathan is the first American of Indian origin to be appointed to this preeminent board, which focuses on national science and technology policy.

In making the announcement of Panchanathan’s and others appointments, President Obama said: “Our nation will be greatly served by the talent and expertise these individuals bring to their new roles. I am grateful they have agreed to serve in this Administration, and I look forward to working with them in the months and years ahead.”

In addition to being an advisory body to the U.S. President and Congress on science and engineering issues, members of the 25-member board establish the policies of the National Science Foundation (NSF) within the framework set forth by the President and Congress. The NSF is a major science-funding agency with an annual budget of $7.2 billion (FY 2014) and the goal of promoting the progress of science; to advance the national health, prosperity, and welfare; and to secure the national defense.

“Panch has worked tirelessly in advancing Arizona State and its rapidly growing research enterprise, promoting our unique capabilities and what we offer businesses and government agencies, and leading the way to a greater public understanding of the benefits that scientific research and technology development have to offer,” said ASU President Michael Crow. “Panch exemplifies the spirit of innovation, entrepreneurship and social responsibility that ASU aims to cultivate. It is fitting that he be on this important board so that his influence can extend to the benefit of the nation.”

“This is a fantastic opportunity to help our nation be in the vanguard of global competitiveness through the rapid advancement of science, technology, entrepreneurship and innovation,” Panchanathan said. “It is truly an honor to serve our nation in this capacity.”

Drawn from industry and universities and representing a variety of science and engineering disciplines and geographic areas, NSB members are selected for their eminence in research, education or public service, and records of distinguished service. NSB members are appointed for six-year terms.

In addition to his work with OKED, Panchanathan is a professor in ASU’s School of Computing, Informatics, and Decision Systems Engineering. He is also director of the Center for Cognitive Ubiquitous Computing (CUbiC).

Panchanathan recently was named a Fellow of the National Academy of Inventors. He led a team that received two Microsoft Imagine Cup awards, he has been chosen for the Governor’s Innovator of the Year for Academia award and the ASU Leadership Award.

Panchanathan has published or presented more than 400 papers in refereed journals and conferences, and is a Fellow of the Institute of Electrical and Electronics Engineers, the Society for Photo-Optical Instrumentation Engineers and the Canadian Academy of Engineering.

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GPEC puts together a science and technology strategy

Even when the state was known for copper, cattle and citrus, Arizona has relied on being an innovator to drive its economy.

“Arizona’s economic position has historically been defined by science and technology,” says Steven M. Shope, president of Mesa-based Sandia Research Corporation, “especially if you look back to the 1940s and 1950s, when the state put a wealth of resources into attracting new technologies.”

Those efforts, Shope says, paid off and made Arizona a leader in the electronics, semiconductor, aerospace and defense industries.

“Now, we need more science and technology to transform Arizona into a knowledge economy and lift our productivity and export growth from below national average,” Shope says.

To help make that happen, the Greater Phoenix Economic Council (GPEC) has directed its Innovation Council — which is co chaired by Shope and Todd Hardy, associate vice president of economic affairs for Arizona State University — to study the community’s high-potential assets, look for commercialization opportunities and put together and science and technology strategy that will help drive a knowledge-based economy in Arizona. The backbone of that strategy will be building on the state’s existing strengths.

According to Sethuraman Panchanathan, senior vice president at ASU’s Office of Knowledge Enterprise Development, those strengths include the state’s world-class research universities, research centers and institutes, a large highly trained workforce, a vibrant entrepreneurship ecosystem, a concerted effort on improving business climate in the cities and the state, plans for rapid growth by existing science and technology businesses, and an enhanced quality of life.

“Our best strengths come from the companies already here — established businesses like Intel, Avnet, Boeing and Honeywell,” Shope says. “Arizona also has lower workforce costs and good transportation connectivity to other markets, both of which are attractive for science- or technology-based businesses.”

So how does Arizona tranlate those assets into further expansion and enhancement of the science and technology sectors?

“We’re already world leaders in solar research and development and manufacturing and there is still strong potential for innovation within our aerospace and electronics industries, as well as in healthcare and personalized medicine,” Shope says. “However, we need to fill in the gaps with regards to access to capital, markets and talent in order to realize that potential. GPEC’s Innovation Council is working to develop a strategy that leverages these resources, harnesses new ones and further diversifies our economy into these areas.”

Panchanathan says the key to creating a successful strategy will be, “Convergence of purpose between the various economic development entities in Arizona, securing investments that can be deployed to attract new businesses to Arizona, and creating incentives for attracting local and global businesses to Arizona.”

Already driving Arizona’s electronics sector is Intel, with its recent $5 billion expansion, and companies like Boeing and Honeywell are fueling the aerospace sector. Those three companies are driving innovation within our communities and their local supply chains, Shope points out.

Top develop its science and technology strategy, Shope says says GPEC’s Innovation Council is conducting a deep market analysis to identify long-term opportunities in science and technology, and learning how to target growth from initiatives in other regions. GPEC is building the business case among private leaders to establish focus and build resources around a few select initiatives.

“A well thought-out strategy should include building up each community’s unique assets and driving growth into new markets by establishing centers of excellence around emerging products and technologies,” Shope says. “Increasing funding to the universities for R&D is also critical, as is developing funding and resources for entrepreneurs. Educating the entrepreneur is also an important goal. In particular, R&D funding from federal sources, such as (Small Business Innovation Research) SBIR and (Small Business Technology Transfer Program) STTR, is an ideal mechanism for launching new technologies. However, this funding is becoming increasingly competitive. We need to be sure that Arizona small businesses can be highly competitive in these funding programs.”

Arizona SciTech Festival - AZ Business Magazine January/February 2012

SciTech Festival Spotlights Arizona As Growing Power In Science, Technology

Techno party: SciTech Festival will put spotlight on Arizona as a growing power in science and technology

Arizona Gov. Jan Brewer says there is no better way to launch the state’s second century than by creating future leaders in industries that Brewer sees as crucial for the state’s economic vitality.

“Arizona is an emerging world leader for advances in aerospace, aviation and defense, semiconductor and electronics information technology, optics, life science, health science, renewable energy and telecommunications,” Brewer says. “Now, we must focus on ushering in the next generation of great scientific and technological leaders and must cultivate the scientific talents of all its students.”

To cultivate and inspire that talent, the Arizona Technology Council Foundation, Arizona State University and the Arizona Science Center have teamed up to create the First Annual Arizona SciTech Festival, a grass roots collaboration of more than 200 organizations in education and industry — including major employers like Microchip, Catholic Healthcare West, Raytheon and Orbital — designed to showcase how science, technology, engineering, and mathematics (STEM) could drive the state’s economy over the next 100 years.

“The SciTech Festival will be the perfect way for Arizona to start rebranding itself around science and technology,” says Chuck Vermillion, chief executive officer and founder of Scottsdale-based OneNeck IT Services.

According to Jeremy Babendure, a biomedical scientist and director of the festival, officials expect more than 100,000 people to attend more than 300 festival-related activities that will take place throughout the state over a six-week period.

“I went through the Arizona school system and then went to ASU,” Babendure says. “But when it came time for me to engage in scientific research, I went out of state. This festival will show the next generation of Arizona scientists what is going on their back yard and show them that it is possible to stay in Arizona and engage in meaningful scientific work.”

Festival organizers hope to showcase the state as a national leader in science, technology, and innovation. Activities will include workshops, conversations, debates, exhibitions, concerts, and guided tours for young people and adults.

“The festival will offer a high-profile way for Arizonans to appreciate the rich base of sophisticated research and technology in our state,” says Sethuraman Panchanathan, deputy senior vice president and chief research officer at ASU.

In addition to the three founding partners, sponsors of the SciTech Festival include, Cox, Avnet, SRP, Boeing, the Arizona Commerce Authority, the Flinn Foundation, US Airways, DPR Construction, Maricopa Community Colleges, Creative Engine and the Helios Education Foundation, which committed $50,000 to the festival.

“By supporting the (festival), Helios believes more Arizonans will become aware of the role STEM plays in our economy,” said Dr. Jo Anne Vasquez, vice president and program director, Arizona Transition Years; Teacher and Curriculum Initiatives. “In order for Arizona to be a player in the new global economy, Helios supports educational initiatives that create a college-going culture with an emphasis on academic preparation in STEM education.”

Getting Arizona’s young people interested in science and technology at a young age is one of the primary goals of the SciTech Festival, says Chevy Humphrey, president and CEO of Arizona Science Center.

“The problem we are having now, is that many of the students in Arizona who are interested in the STEM subjects in school, aren’t staying here after they graduate,” Humphrey says. “We need to find a way to get students interested in science and technology at a younger age and figure out a way to keep our talented young people here. Once we do that, we will have a better chance of attracting great minds and great companies to our state.”

Having a solid resource of home-grown talent is a topic often raised by employers looking to move to Arizona, Panchanathan says.

And for companies like Microchip Technology Inc. in Chandler, a leading provider of microcontroller and analog semiconductors, the idea of inspiring students that could become part of a home-grown workforce is one of the benefits that will be derived from the festival for generations to come.

“This is the kind of thing that can start to change the culture and get young people excited about science and engineering,” says Michelle Ragsdale, senior public relations specialist for Microchip, which is participating in three SciTech Festival events. “They will get an opportunity to see how math, science and technology shape our lives. they will have the opportunity mingle with innovators who are making a difference. They will be able to say to themselves, ‘Hey, if I take science, I will be able to do this.’”

Babendure says festival events include a Tech Crawl in Chandler, the “Science of Baseball” in Scottsdale, the “Science of Chocolate” in Glendale, and the “Science of Galileo” as part of the Arizona Renaissance Festival. All of the events, Babendure says, are meant to get Arizona resident excited about science and technology.

“The festival is designed to help the public better understand the strong relationship between the state’s current, outstanding research and technology and the immense potential it offers for Arizona’s future,” said Steven G. Zylstra, president and CEO of the Arizona Technology Council. “State and local leaders … support this initiative as a powerful vehicle for leveraging productive synergy among stakeholders in the scientific, educational, and business communities leading to increased output of future innovators in STEM and resulting in more jobs and increased economic stability.”

Brewer agrees that celebrating science and technology with events like the SciTech Festival is “critical to raising student and public awareness of the impact science and technology have on our lives and to inspire the next generation of scientific leaders.”

One of the events that Microchip is excited to be involved with, Ragsdale says, is the FIRST Robotics Duel in the Desert on Feb. 18. At the duel, FIRST (For Inspiration and Recognition of Science and Technology) high school teams will hold a scrimmage testing out their robots for the upcoming FRC (FIRST Robotics Competition) Arizona Regional. Those that watch the Duel in the Desert will get to meet the teams, talk to the teachers, and see the robots in action.

“Events like this will show young people that you don’t have to be a sports star or TV star to be famous,” Ragsdale says. “It will elevate the excitement about STEM education and open up a new world of opportunities for them.

“But in the bigger picture, the festival will put the focus on Arizona as a location and showing the world that we are paying attention to STEM education,” Ragsdale says. “Hopefully, companies will start to see Arizona not just as a place to come for the great weather, but because we are serious about creating and inspiring the next generation of innovators.”

For more information on the Arizona SciTech Festival and a complete schedule of events, visit azscitechfest.org.

Arizona Business Magazine January/February 2012