FAQ

The EFS was created in the Fall of 2007, and became the cornerstone of the University of Utah’s “culture of impact.” The EFS membership now includes over 155 faculty members representing all 14 of the U’s 14 colleges and schools. The EFS comprises faculty who have founded successful companies, faculty still assessing whether to embark on this risky yet rewarding pathway, and individuals still seeking opportunities to bring their creative works and inventive discoveries to the marketplace. The EFS members serve as mentors for each other and for some 5000 student and postdoctoral entrepreneurs, thereby creating networking and educational opportunities that transcend the classroom and laboratory.

The EFS has three main objectives: (i) to help faculty understand the challenges in translating their research or creative works into the private sector, (ii) to help faculty understand and navigate the commercialization process, and (iii) to help faculty find appropriate human and financial resources to maximize the likelihood of success.

The EFS provides support in many ways.

• First, EFS provides a willing network of like-minded, creative, and innovative individuals with whom to share ideas and identify new opportunities.
• Second, many EFS members have “been-there-done-that” with respect to converting a technology to a product, and in starting up and/or operating a company.
• Third, many EFS members are outstanding artists, designers, communicators, legal and business scholars, and social facilitators who seek to participate in the cross-disciplinary teams needed for commercialization.
• Finally, EFS members have networks – in the university, but more importantly in the business, finance, and legal sectors – that can provide advice and direction

No, the EFS does not provide negotiation services. The EFS provides advice on how to identify a business partner with negotiating experience, and has offered workshops on how to negotiate licenses or term sheets.

The first step should be disclosure of your invention to Technology & Ventures Commercialization (TVC), which is now a web-based process. The EFS becomes involved with TVC in evaluating technical and practical potential of disclosures, and in identifying potential mentors.

For direct contact or other questions, contacting any present or past member of the EFS Executive Committee (identified on our website) with the appropriate expertise is strongly encouraged. The Director of the EFS, Glenn Prestwich (gprestwich@pharm.utah.edu) and Ronald Weiss (weissrl@aruplab.com), are also good contacts.  In addition, reaching out to the leadership of the Center for Medical Innovation (John Langell, John.Langell@hsc.utah.edu) or the Center for Engineering Innovation (Florian Solzbacher, florian.solzbacher@utah.edu) is encouraged.

That depends. The TVC cannot negotiate a license for you. It can, however help you start a company, and can also help you you're your technology up the value curve prior to company launch. TVC can also help you identify and select management to help you operate the company, which is the preferred pathway for most busy and commercially inexperienced faculty members. You, as the faculty inventor, could serve as a technical advisor or scientific officer. The best course of action is to meet with one or more EFS mentors, and with the TVC, to identify potential business-savvy individuals who can help make decisions on how best to launch and operate a company.

1. The EFS participates in networking, innovation, and educational programs throughout the year, in collaboration with the Lassonde Entrepreneur Institute, the Center for Medical Innovation (CMI), the Center for Engineering Innovation (CEI), and the Technology & Ventures Commercialization (TVC) teams.
2. The EFS is a co-sponsor with CMI for the annual Translational Medicine Symposium.
3. The EFS runs an annual trans-disciplinary retreat, with themes designed to bring new combinations of faculty together to create disruptive new opportunities.
4. The EFS co-sponsors periodic cross-disciplinary mixers – Mix*Ology – themed on one topic, two hours, and infinite possibilities.
5. The EFS co-sponsors the website create Connections, with the College of Fine Arts. This project brings together scientists, artists, designers, humanists, entrepreneurs and engineers to inspire, connect, reflect and refine creative and innovative experiences across the entire University of Utah campus. This is the U of Utah web page for the Alliance for Arts in Research Universities (A2RU), in which the EFS is a prominent participant.
6. The EFS solicits nominations for two annual awardees for the Distinguished Innovation and Impact Award (DIIA).

Simply contact Glenn Prestwich by e-mail, and express your interest in becoming part of this dynamic and exciting community of faculty entrepreneurs.

• The EFS links you to innovators from many different disciplines.
• The EFS allows you to explore entrepreneurial opportunities prior to making an “all-in” commitment to start a company.
• The EFS connects you to seasoned business people in the private sector, and connects you to the expertise and the colleagues necessary to build a successful multi-disciplinary team.
• The EFS integrates you into all aspects of the culture of impact on campus.
• The EFS provides collegial advice from established academic entrepreneurs.