Meeting the Challenges of Economic Development in Iowa

"Meeting the Challenges of Economic Development in Iowa" Jordan L. Cohen Vice Pres. Research & Economic Development The University of Iowa IMMI, March 25, 2010

Evolving Role Of Public Research Universities in Economic Development THEN Ø Maximizing the public good and economic value of innovation from faculty, staff and students through commercialization via start-up companies and/or licensing Ø Driven by Baye Dole Act regarding responsibilities of institutions to make results of federally funded research available for the public good

Evolving Role Of Public Research Universities in Economic Development NOW Innovation: research to create knowledge that can have economic impact, move ideas to marketplace Knowledge to grow business: through consulting, job training and start up assistance Core Mission: Produce a generally educated populace and professionals to serve communities – engaged with community colleges through on site and distance programs Urban and Regional Planning: to assist communities Focus for Art, Culture and Athletics

Who is associated with Iowa Centers for Enterprise ? University of Iowa Research Foundation University Research Park John Pappajohn Entrepreneurial Center Office of Vice President For Research & UI Colleges and Research Centers Small Business Development Center Community Partners EDC, Priority One, ICAD, Venture Development Groups

Supporting Economic Development and Entrepreneurship Across Iowa Ø Licensing UI technologies to Iowa companies to support innovation and company growth Ø Faculty/Student Consulting Projects to provide strategic business planning services to new and growing Iowa companies Ø Internships to connect top University of Iowa undergraduate and graduate students with Iowa companies Ø College/Company/Community Partnerships to distribute knowledge, advance technology, and create opportunities for business creation and expansion

Terpenoid Therapeutics Bio. Ventures Tennant Spin out from NIH funded Faculty research UIRF – patent Costs, business plan, EIR $200 K Series A Funding - $1. 5 M GIVF Proof of concept IDED Demo $150 K Business diligence $104 K SBIR/STTR $414 K

J & J Solutions TIC Tennant Student Based Company- 2008 Funding Competitive Grants: $63, 000 IDED Demo: $150, 000 Seed Capital: $162, 000 Venture Funding >$1. 5 M Currently 4 Employees Advisors JPEC EDC UI

Accelerating Technology Commercialization- UIRF Capabilities INNOVATION PAST PRESENT PRODUCT STARTUP Intellectual Property DEAL License Intellectual Property “Gap” Funding Entrepreneur-in. Residence (EIR) License Startup Formation Entrepreneur-in. Residence (EIR) Idea Pipeline FUTURE Idea Funding Applied R&D Centers Proof of Concept Venture Startup Formation Financing Funding Intellectual Property SBIR Assistance License

John Pappajohn Entrepreneurial Center Economic Development Initiatives Ø Faculty/Student Consulting Projects Ø Consulting and Mentoring Services Ø Wellmark Venture Capital Fund, Pappajohn Business Plan Competition and Other Funding Programs Ø Distance Education – Primarily Targeting Iowans with Associate Degrees and Needing Entrepreneurial Management Education/Training Ø Strategic Partnerships with Economic Development and Entrepreneurship Organizations Ø Youth Entrepreneurship – Jacobson Institute for Youth Entrepreneurship

Small Business Development Center • Free, confidential, customized business counseling • Assist businesses up to 500 employees • Conduct low cost workshops that teach practical skills and techniques to business owners and entrepreneurs • A Nationally accredited entrepreneurial development organization • Helps entrepreneurs start, operate & grow their businesses • Helps existing businesses to expand grow

Research Park Overview • 25 active companies – 9 Park companies and 16 business incubator companies • University Anchor Laboratories – – – Center for Biocatalysis & Bioprocessing UI Iowa Pharmaceuticals (formerly, Center for Advanced Drug Development) National Advanced Driving Simulator University Hygienic Laboratory Oakdale Medical Research (MTF) Infectious Diseases Inflammation Program (MTF) • 2 Business Incubators – Bio. Ventures Center and Technology Innovation Center • Employ approx. 2, 000. • Employees come from 31 counties and 107 cities in Iowa State of Iowa

UI Research Park & Business Incubator Companies Life Sciences ASL Analytical Cellular Engineering Technology Exemplar Genetics Integrated DNA Technologies J&J Solutions Kem. Pharm Terpenoid Therapeutics Vertex Pharmaceuticals Animal Health Cargill Animal Health Education Noel-Levitz Pearson Vangent Medical Imaging QI 2 VIDA Diagnostics Business Solutions The Thomas Group Brighton Group Software Development AMBIGroup Bio: Neos Componica LLC Digital Artefacts Innovative Software Engineering Inno. Matix, LLC LMS International Ramaanchar Engineering Stanley Consultants, Inc.

What we offer • Quality space – Wet laboratories and office space that can be tailored to a company’s specific R&D needs • Financial assistance for lab and office fit-out • Incubator Tenants benefit from sustained relationships with UI in the form of access to: – – – – Specialized research facilities Library access Faculty consultation Research collaboration Access to students as interns and employees Business planning Introductions to local & state government agencies and regional business community Help in identifying potential sources of investment and other funding and communications. 13

Iowa Initiative for Sustainable Communities §Students and faculty in the school of Urban and Regional Planning are working with community leadership in Decorah, Anamosa, Wellman, and Columbus Junction to enhance their sustainability. §Outreach and engagement §Meaningful experiential learning § Housing, beautification, renewable and alternative energy usage

Community College Linkages a. b. c. d. e. f. g. h. Entrepreneurial Management Certificate at 11 CC’s Nonprofit management Certificate available on-line Articulated Wind Energy program with Iowa Lakes Community College A. A. B. S. Residential Construction Management with Indian Hills CC & Iowa Western CC RN to BSN Completion Program available statewide to associate degree graduates with RN Licensure BA in Social Work in cooperation with DMACC Additional on-line courses in Business, Economics, Political Science and Mass Communication BAS/BLS available statewide

Contact Information ICE: Enterprise-centers@uiowa. edu VPR: Jordan–Cohen@uiowa. edu ; 335 -2132; 5 -3999 JPEC: David-Hensley@uiowa. edu; 335 -3941 UIRF: Pamela-York@uiowa. edu; 335 -4311 UIRP: Diane-Gallagher@uiowa. edu; 335 -1022 SBDC: Paul-Heath@uiowa. edu; 335 -3742 Urban and Regional Planning; Charles-Connerly@uiowa. edu; 335 -0039 Continuing Education; Chet-Rzonca@uiowa. edu; 335 -2527