Director of Technology Incubation and Venture Development

UConn Careers•Storrs, CT

11d

About The Position

The Office of the Vice President for Research (OVPR) is competitively recruiting talented venture development professionals to join our growing Technology Commercialization Services (TCS) team. 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. The University of Connecticut (UConn) is a top-ranked public research university and land grant institution, rurally situated in the “ Quiet Corner ” of Northeast Connecticut. Reporting to the Associate Vice President for Research, Innovation and Entrepreneurship, the Director of Technology Incubation & Venture Development will have two primary responsibilities: a) responsible for running the Technology Incubation Program – which is the Incubator program at UConn supporting UConn and non -UConn startups both at Storrs and Farmington, and b) responsible for identifying, developing, and expanding entrepreneurial opportunities for UConn faculty and students. The selected candidate will work directly with faculty and students on all UConn campuses, including UConn Health, to form new ventures and support existing startups based on UConn technologies in the physical sciences, life sciences and engineering, across a broad variety of business sectors such as biotech, pharmaceuticals, medical devices, diagnostics, aerospace, cleantech and software, among others. The Director will also be responsible for attracting non-UConn startups in the TIP including offering them advise, guidance, and connections to investors. They will be responsible for working with VCs and investors and maintain a thriving entrepreneurial ecosystem. The ideal candidate will have a track record of leading successful technology and startups and will seek opportunities to identify and support the next generation of entrepreneurs. The Director of Venture Development will bring an ability to balance financial and business acumen with an aggressive, creative, and dynamic approach to startup creation, including having deep understanding of financial models (cap table, equity distribution and financial impacts during investments). The candidate should have knowledge and experience with federal funding programs like SBIR/STTR that support startups.

Requirements

Bachelor’s degree and at least five years of experience working in technology commercialization or innovation.
Demonstrated experience acting as an integrated member of a TCS team and engaging both faculty and external partners.
Demonstrated experience forging mutually beneficial partnerships with industry.
Experience with issues and challenges associated with venture development and startup launch from universities.
Demonstrated experience leading a team who support TIP.
Demonstrated interpersonal, written, and oral communication skills.

Nice To Haves

Advanced degree in STEM preferably in engineering, physical sciences, or life sciences.
Proven track record for raising capital for early-stage companies and understanding of financial models.
Experience creating and conveying a great story including pitch decks.
Deep connections with investment community.

Responsibilities

Efficiently run the TIP establishments at Storrs and Farmington and provide startups with support, guidance and advice to help them move through the startup life cycle.
Supervise TIP professional staff members.
Educate, recruit, and support faculty and student entrepreneurs to launch new technology-based ventures; facilitate creation of business planning, commercialization pathway, market assessment, development, and connections; coach to develop investable business plans and identify funding opportunities.
Work closely with the TCS staff and various deans and department heads across UConn to educate faculty and students on entrepreneurship.
Conduct efforts to instruct faculty on the alignment of NIH and other federal agency goals with commercialization, and to understand business and financial models necessary to attract partners and investments.
In conjunction with UConn’s other student and faculty innovation and entrepreneurial programs, provide educational and advising services prior to company formation to help startup teams research market opportunities among a broad range of industries; develop educational programming and curriculum addressing a variety of business topics to inform and support new and existing venture development and growth; establish, operate, and support a portfolio of UConn programs such that they are well-coordinated and highly effective.
Work with startups to identify and meet specific business milestones critical to commercial success; help them utilize strategies to de-risk technologies and help in acquiring funding throughout the innovation continuum – from proof of concept to initial public offering or sale, and including funds able to support lead optimization, pre-clinical proof of concept and Investigational New Drug (IND) approvals.
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.
Identify and attract experienced entrepreneurs to lead, advise, mentor, and potentially invest in startups.
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.
Review 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.
Work closely with the TCS staff to facilitate tech transfer for new UConn technology companies.