Interview with NUtech Ventures

Mon, 03/14/2022

As part of its work highlighting innovators in the dynamic tech sector in Nebraska, the Nebraska Governance and Technology Center is reaching out to regional tech leaders and organizations to ask them a few questions about their work, how they got started, and where they see their organization headed in the future. Today we are featuring an interview with NUtech Ventures, the commercialization affiliate for the University of Nebraska-Lincoln and University of Nebraska at Kearney, about their work taking tech inventions from the lab to the marketplace, making research innovations available that have a positive impact on society.

 

Tell us a little about NUtech Ventures and the work that you do.

NUtech Ventures is the commercialization affiliate for the University of Nebraska–Lincoln and the University of Nebraska at Kearney. We manage inventions that are developed by university faculty, staff and graduate students. Our goal is to transfer these inventions from the lab to the marketplace, where they ultimately will be available for sale as a product or service that impacts society. And we also promote entrepreneurship through programs and resources, including our campus program, Nebraska Introduction to Customer Discovery.

How does the commercialization process work? It all starts when campus personnel tell us about their new invention. Then our team evaluates it and decides whether to pursue intellectual property protection and subsequent commercialization. We assess three main areas: the existing patent landscape, market scope and size, and commercialization readiness, or how far along it is in the development phase.

After filing a patent on the invention (or protecting it with a copyright), our team markets and licenses it to companies. A license enables companies to further develop the invention into a product or a service. NUtech licenses inventions to external companies and startup companies formed by university inventors. A few examples of NUtech’s licenses include companies that are developing crash cushions for roadside safety, using data to improve agricultural practices, and developing drone technology to fight fire with fire.

 

How has NUtech grown as an organization?

Within the past four years, NUtech has added additional roles to support licensing, intellectual property protection, marketing and communications, and entrepreneurship programming. We’ve also continued to expand our outreach efforts across campus, regularly partnering with colleges and departments to host events and training. Since our intern program began in 2014, we’ve worked with 66 student interns from seven colleges across UNL’s campus. And while we continue to commercialize many inventions from STEM fields, including engineering and agriculture, our team has also been focusing on the humanities and education. For example, we recently licensed a feature documentary film to a nationwide film distributor, and it is now available for purchase on iTunes and Amazon.  We also licensed a substance abuse prevention program to colleges in Missouri.

 

What is the business climate like for tech companies in Nebraska?

The business climate is experiencing unparalleled investment. Lincoln companies raised nearly $300 million in venture capital funding in 2021, according to the Lincoln Journal Star. Virtual Incision, co-founded by university professor Shane Farritor, raised $46 million in November 2021. The company is developing a surgical robot that can perform minimally invasive surgeries. Sentinel Fertigation, recently founded by UNL graduate student Jackson Stansell, has raised funds from the Husker Venture Fund, Launch LNK, Invest Nebraska and others. Jackson’s company is developing technology that provides recommendations for farmers applying nitrogen fertilizer. These investments bring university innovation one step closer to the marketplace, where they will be widely available for commercial use and societal impact.

 

What advantages does Nebraska pose for a tech startup?

The University of Nebraska–Lincoln has a motto, “Every person and every interaction matters.” That motto is also reflected in Nebraska’s close-knit startup scene. It’s an advantage for startup founders looking for introductions, connections and access to resources. In fact, one of NUtech’s goals is to help connect university startups with people and resources across the state. Participants in our entrepreneurship program receive more than training; they also learn about programs, resources, and next steps they can take in furthering their startup company.

Nebraska has other significant resources, too. There are programs with the Nebraska Department of Economic Development, Invest Nebraska, NMotion and Startup LNK, as well as local investors, including the Nebraska Angels. There are also federal programs, such as the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR), which are especially relevant for university startup companies.

 

Where do you see NUtech Ventures heading over the next five to ten years?

NUtech is continuing on a growth trajectory to commercialize inventions across all disciplines and support startup companies and prospective entrepreneurs. University inventors are well-positioned to start a company and “de-risk” the technology. “De-risking” refers to the initial process of finding product-market fit and ensuring there are customers for the invention. This is an integral step to gaining further traction and getting university-based products out into the world. By hosting training programs and providing resources, NUtech wants to help university entrepreneurs develop a strong foundation. And ultimately, our goal is to increase the societal benefit and economic impact of university innovation.

 

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