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Those who can do ... those who teach can
Carleton University fund aims to turn staff, student research into reality
Vito Pilieci
The Ottawa Citizen
Wednesday, April 03, 2002
The Ottawa Citizen
Academia Gets Entrepreneurial: Chemistry professor Wayne Wang, who developed a material for optical equipment wafers, is one of the first researchers to take advantage of a new Carleton University program.
Carleton University has established a fund to get research ideas out of the ivory tower and into the real world.
The Carleton Foundry Program will give researchers both the business planning expertise and seed financing they need to start new technology companies, Luc Lalande, the university's director of the technology and research development, said yesterday.
The program will help market ideas, giving the university public exposure and prestige. And possibly a cut of the profits.
"These are people who come up with great ideas and concepts," said Mr. Lalande. "They may not be the ones who will grow the company, but they will often be the seeds of new ventures."
The university also said it was hiring the business consulting firm Keystep Growth & Finance to counsel its researchers.
Keystep will help the businesses draft a sustainable business model that illustrates the commercial potential of their products.
"In these institutes there is a stronger interest in not just doing the research, but looking into the business aspect and how to commercialize their technology," said Peter Kallai, president of Keystep. "We bring that to the table."
Carleton will also provides guidance on raising extra venture capital from external financiers.
Chemistry professor Wayne Wang is developing a new material for computer chips. Now, he will now have the opportunity to market his new chip manufacturing technology to a world of potential clients.
Mr. Wang, who is one of the first researchers to take advantage of the program, said he has spent more than 10 years perfecting his technologies. A $6,000 investment will allow him to market his material.
"We are actively pursuing local companies as well as international companies," said Mr. Wang, who has started his own business, TWLinks Inc., and employs three people in Ottawa.
Mr. Lalande expects the average funding to be about $15,000. Researchers can leverage the university money with further money from government grants and tax incentives.
© Copyright 2002 The Ottawa Citizen
Those who can do ... those who teach can
Carleton University fund aims to turn staff, student research into reality
Vito Pilieci
The Ottawa Citizen
Wednesday, April 03, 2002
The Ottawa Citizen
Academia Gets Entrepreneurial: Chemistry professor Wayne Wang, who developed a material for optical equipment wafers, is one of the first researchers to take advantage of a new Carleton University program.
Carleton University has established a fund to get research ideas out of the ivory tower and into the real world.
The Carleton Foundry Program will give researchers both the business planning expertise and seed financing they need to start new technology companies, Luc Lalande, the university's director of the technology and research development, said yesterday.
The program will help market ideas, giving the university public exposure and prestige. And possibly a cut of the profits.
"These are people who come up with great ideas and concepts," said Mr. Lalande. "They may not be the ones who will grow the company, but they will often be the seeds of new ventures."
The university also said it was hiring the business consulting firm Keystep Growth & Finance to counsel its researchers.
Keystep will help the businesses draft a sustainable business model that illustrates the commercial potential of their products.
"In these institutes there is a stronger interest in not just doing the research, but looking into the business aspect and how to commercialize their technology," said Peter Kallai, president of Keystep. "We bring that to the table."
Carleton will also provides guidance on raising extra venture capital from external financiers.
Chemistry professor Wayne Wang is developing a new material for computer chips. Now, he will now have the opportunity to market his new chip manufacturing technology to a world of potential clients.
Mr. Wang, who is one of the first researchers to take advantage of the program, said he has spent more than 10 years perfecting his technologies. A $6,000 investment will allow him to market his material.
"We are actively pursuing local companies as well as international companies," said Mr. Wang, who has started his own business, TWLinks Inc., and employs three people in Ottawa.
Mr. Lalande expects the average funding to be about $15,000. Researchers can leverage the university money with further money from government grants and tax incentives.
© Copyright 2002 The Ottawa Citizen
