The event, held at Zions Bank, is a lot like speed dating – university representatives get 90 seconds to pitch a technology to a table of investors, entrepreneurs and executives.When the buzzer rings, they must move to the next table.Faculty members at the U, for example, disclose more than 200 inventions every year, but only a fraction of those technologies are being licensed to startups or established companies.Most other university in the state faces a similar challenge.The goal is usually to license these technologies to a company that can develop and package them into a profitable product or service.But the new research is often highly sophisticated – on the cutting edge of science – so finding a partner can be challenging.
The purpose of this, and future events, is to present as many technologies as possible to potential business partners.With a little luck, participants will get a few phone numbers – and maybe a date to discuss the technology and a partnership. It could lead to a joint venture, seed funding, research partnership or startup company.“Matching technologies with investors is a lot like dating,” says Bryan Ritchie, director of the U’s Technology Commercialization Office (TCO).“You never know how it will begin, you never know how it will develop, and sometimes it stops with no explanation whatsoever.
May 22, 2012 – The University of Utah is calling it “speed teching” (pronounced teck-ing) – and it’s a lot like speed dating.
The state’s leading research institution today welcomed investors, entrepreneurs, and executives and leading universities to the first University Innovators Speed Teching Showcase.