[vc_row el_class=”breadcrumbs”][vc_column][vc_column_text][\/vc_column_text][\/vc_column][\/vc_row][vc_section el_class=”start-ups”][vc_row][vc_column][vc_column_text]Research is the seed capital for creating knowledge to foster innovation: FY19 Annual Report for Duke New Ventures<\/em><\/p>\n

Each year, Duke research yields new ideas and innovation with the potential for commercialization. Our highly-skilled and talented faculty and staff supply the Office of Licensing and Ventures (OLV) with an endless pipeline of novel opportunities.<\/p>\n

The commercialization of these ideas starts with converting research at Duke into intellectual property (IP). For those inventors who want to be more hands-on with their technology, they can opt to form their own spin-out company instead of licensing to an existing one. An entrepreneur\u2019s starting point for turning Duke IP into a start-up company is Duke New Ventures.[\/vc_column_text][\/vc_column][\/vc_row][vc_row css=”.vc_custom_1535394535521{padding-top: 15px !important;}”][vc_column][vc_column_text]Two Duke spin-outs, Precision BioSciences and PhaseBio Pharmaceuticals, went public this past spring\u00ad\u00ad bringing Duke\u2019s total IPOs to nine. Located here in the Triangle, Precision\u2019s recent opening of a new $26 million manufacturing facility is spurring economic growth and interest in the area, acting as an \u201canchor tenant”.<\/p>\n

$\"Phasebio$ <\/p>\n

$\"Precision$ <\/p>\n

From TSA body scanning technology to software that can predict and overcome cancer drug resistance, 16 new start-up companies were added this year to the growing list formed from Duke research\u2013bringing Duke\u2019s overall start-up total to 142. 14 of this years 16 are staying in North Carolina, with 29 of 32 total start-ups remaining in the Triangle over the past two years.<\/p>\n

Additionally, six of Duke\u2019s ventures \u201cgraduated\u201d this fiscal year\u2013meaning they have procured the management and capital to move forward, either via financing or with sales revenue. Congratulations to Cellective Biotherapy, Gavil\u00e1n Biodesign, MicroElastic Ultrasound, Phitonex, SV Analytics, and CCDS.<\/p>\n

FY19 Duke Start-ups $\"List$ <\/h2>\n
The Duke New Ventures team has made\u00a0over 115 introductions\u00a0for our portfolio companies this year\u2014to investors, management, service providers, and strategic partners. These introductions resulted in management team hires, partnerships, and sales for our startups.<\/p>\n
\u201cI\u2019m excited about the role Duke New Ventures is playing in the Duke Entrepreneurial ecosystem and beyond,\u201d said Hallford. \u201cOur ties with I&E, Pratt, DIHI, Fuqua, ORAQ, CTSI, BioLabs NC, and the School of Medicine have never been stronger.\u201d<\/p>\n
Hallford feels this is largely due to his MIRs\u2014the heart of the program. The culture of collaboration starts with them working behind the scenes to connect Duke startups and move things forward.\u00a0This year, two new MIRs joined the team\u2014Diane Ignar and Doreen Grech.<\/p>\n
Ignar and Grech made an immediate impact in coaching Duke startups for Duke New Venture\u2019s first ever Venture Day this past May. At this event,\u00a0eight Duke companies pitched their novel ideas, along with five poster presentations, in front of a dozen venture capital (VC) firms, including 10 from out of town.<\/p>\n
$\"Rob$
Rob Hallford at Duke Venture Day May 2019<\/figcaption><\/figure>\n
\u201cThree of our companies have proceeded into due diligence with VC firms in attendance\u2014a testament to the quality of startups coming out of Duke,\u201d Hallford said.<\/p>\n
Overall, $372 million was raised by Duke start-ups this past fiscal year, bringing the total capital raised in the past 25 years to just over $5.4 billion.<\/p>\n
Another facet of Duke New Ventures is the New Venture Fellows program, which continues to make great strides. New Ventures had\u00a0nine Fellows last Fall and 13 this Spring. NVF efforts have played a key role in advancing many startups this past year.<\/p>\n
Jess Levitt, Assistant Director for Fuqua\u2019s Health Sector Management (HSM) Program who works closely with many of the NVFs noted that the NVF program has been of increasing interest to both current and prospective HSM students.\u00a0It appeals to students with a variety of career interests, from those looking to work with start-up companies, students interested in joining a venture capital firm, those hoping to work in strategy roles or on mergers and acquisitions, to individuals hoping to start their own company someday.<\/p>\n
\u201cAll of these students benefit from working on meaningful projects where they have the ability to make a real impact and do so in a learning-based environment under the expert guidance of an MIR with the support of the New Ventures Program,\u201d Levitt said.<\/p>\n
The resources we put in place for our start-ups\u2014the MIRs and New Venture Fellows\u2014are one part of the equation, aimed at telling a clear story for every opportunity. \u201cIt\u2019s only when these stories resonate with and engage the broader entrepreneurial ecosystem that Duke innovations can take off and move toward the market,\u201d said Robin Rasor, Executive Director for OLV.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_separator][\/vc_column][\/vc_row][\/vc_section]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"
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