Director of Venture Development

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Work type: Full-time
Location: Storrs Campus
Categories: Administrative Services

TCS supports breakthrough research and cutting‑edge innovation that benefits society and fuel economic development through a coordinated approach between tech transfer, licensing and startup teams, and enables success for faculty, business, Connecticut, and beyond, resulting in:

• $1.4 Billion Total funds raised by UConn incubator companies.
• $620 Million in Economic impact of UConn research.
• 771 Patents granted based on UConn innovations.

Reporting to the Associate Vice President for Research, Innovation, and Entrepreneurship, the Director of Venture Development will be committed to advancing technology-based entrepreneurship and innovation as part of its role in promoting economic growth and development for the state of Connecticut, the region, and the nation. Technology Commercialization Services (TCS) aims to support faculty with venture development and startup formation at UConn

The Director of Venture Development will have the following responsibilities: a) identifying, developing, and expanding entrepreneurial opportunities for UConn faculty, students, and companies in UConn’s Technology Incubation Program, b) work directly with entrepreneurs on all UConn campuses, including UConn Health, to form new ventures and support existing startups in all disciplines, c) have a portfolio of inventions that they will be responsible for marketing and licensing, d) recruit new startups to join TIP, and e) help raise risk capital for UConn startups.

The ideal candidate will have a track record of licensing, engagement of successful technology startups, and the experience to identify and support the next generation of entrepreneurs. They will bring an ability to balance financial and business acumen with an aggressive, creative, and dynamic approach to startup creation.

• Work closely with Technology Transfer group within TCS to support and educate faculty and students on entrepreneurship. In particular, they will help educate faculty about successful commercialization strategies, and related business and financial models necessary to attract partners and investment.
• In conjunction with other UConn innovation and entrepreneurship programs and faculty leaders, the position provides educational and advising services prior to company formation to help startup teams research market opportunities among a broad range of industries; develop and deliver educational programming and curriculum addressing a variety of business topics to inform and support new and existing venture development and growth; collaborate with entrepreneurial programs university-wide, including those within academic departments and schools/colleges, to establish, operate, and support a portfolio of UConn programs such that they are well-coordinated and highly effective.
• Work with new venture teams to identify and meet specific business and scientific milestones critical to commercial success; help them utilize strategies to de-risk technologies and acquire funding throughout the innovation continuum, at a minimum during seed stage and series
  
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• Continuously evaluate and identify funding options for a portfolio of startups, and prepare companies to attract funds from public investment programs such as those offered by Connecticut Innovations, CT Department of Economic and Community Development, and federal SBIR/STTR programs, as well as angel and venture capital organizations.
• Partner within UConn and beyond to develop substantial sources of capital for University startups. Cultivate strong relationships within the CT, NY, and MA investment communities, including leading VCs, angel investors, and corporate funding partners. Lead efforts to develop and execute investor and partnering forums at UConn including a signature event such as an annual symposium with the expressed purpose of aligning investors with faculty/student entrepreneurs.
• Develop a dedicated pool of subject matter experts to mentor, advise, and/or manage teams on technical, regulatory, legal and business topics.
• Coordinate with the UConn Technology Incubation Program (TIP) to transition ventures into TIP as they develop from virtual to physical operations.
• Work closely with the licensing team for review of technologies disclosed to Technology Commercialization Services to determine the optimum pathway for commercialization; and promote those that are startup opportunities among entrepreneurial communities at UConn and throughout Connecticut.
• Approximately twenty-five percent (25%) of job responsibility will be licensing. This position will have a portfolio of inventions and work closely with the TCS Licensing team on tech transfer and negotiation of technology licenses with industry and startups.
• Manage and lead projects and programs that are important for the mission of Technology Commercialization Services and the Office of the Vice President of Research.
• Oversee the…