Each year OTT helps launch high-quality start-up companies based on discoveries made by Emory faculty or staff. Over the past few months, OTT set out to interview a selection of the entrepreneurs and VCs we have worked with and pick their brains about what it takes to make a successful startup venture.
How has OTT contributed to the success of your start-up?
Michael Lee (Chairman & CEO of the Emory start-up Syntermed): By understanding that success does not end with the execution of an agreement, but rather that the execution of an agreement can produce success. Also through ancillary marketing and PR awareness that only the Emory brand and reach can command.
Terence Walts (President & CEO of two Emory start-ups, Transfusion & Transplantation Technologies (“3Ti”) and Cambium Medical Technologies): By continuing to be very supportive and patient as well as continuing to serve as an extraordinarily important “co-partner and valued stakeholder” in these ventures. I continue to view OTT as an important part of our team. OTT is also excellent in getting the word out to the local entrepreneurial community on emerging Emory technologies, not only via their website, but also via their periodic OTT Breakfast Clubs. OTT has played a very important role in helping my Emory start-ups seek out and secure very early grant monies and other financings.
Daniel White (President & CEO of the joint Emory/Georgia Tech start-up Clearside Biomedical): I think it is important that OTT recognizes what is being brought to the table by the entrepreneur and works with the entrepreneur to avoid onerous licensing terms that could prevent financing and, potentially, exits.
Ed Cannon (President & CEO of the Emory start-up NovAb): Emory OTT has been most helpful to us in getting our early stage start-up, NovAb, Inc., off the starting line. Specifically, Kevin Lei (Director, faculty & start-up services) is responsible for introducing me to Max Cooper, our scientific founder, which led to NovAb’s formation. Additionally OTT has been instrumental in matching NovAb’s programs with Georgia Research Alliance (GRA) funding opportunities, positioning the company for visibility with other potential funding sources through SEBIO and other biotech organizations and facilitating collaborations with other Emory scientists. We have likewise benefited from extensive intellectual property strategy discussions with the OTT patent attorneys as we begin to establish IP protection for our technology and discoveries.