How do you become an entrepreneur by licensing an award-winning product? What is the strategy for raising funds when that product is still in a prototype stage and you don’t control development? How do you entice potential strategic partners and prevent them from bypassing you to work directly with the inventor? Two companies that have taken different approaches to this challenge will present in this unique Startup Lab.
Dr. Phillip Myers, a serial entrepreneur, recognized the potential and licensed the Cyclone engine, gaining exclusive access to selected markets. The Cyclone engine is a highly-efficient external combustion engine that is capable of running on virtually any liquid or gaseous fuel. The Cyclone engine is being considered as the prime mover of DARPA's robotic mule and is the winner of the Society of Automotive Engineers Innovation of the Year and Popular Science Top Ten. Dr. Myers will discuss his challenges and successes and lessons learned. Also presenting is Wayne Morse of American Dynamic Flight Systems. This Maryland company is developing an Unmanned Aerial Vehicle (UAV) capable of vertical takeoff and a 300 knot speed. You will learn how this small, audacious team has gained the respect aerospace industry leaders.
Panelists
Dr. Robert Finkelstein, Founder and President of Robotic Technology Inc. (RTI), is responsible for the development of autonomous intelligent robots and intelligent systems, technology assessments, operations research, business development, and other professional services, for clients in government, industry, and academia. The company serves clients nationally and internationally - in military and civil advanced technology systems - especially in robotics, unmanned vehicles, and intelligent systems. Dr. Finkelstein is also a Professor at the University of Maryland University College in the Graduate School of Management and Technology. Since 2008 he has also served as Director of the Intelligent Systems Laboratory in the Clark School of Engineering at the University of Maryland, College Park. Dr. Finkelstein earned a BA in Physics from Temple University, an MS in Physics from the University of Massachusetts, and an MS and Applied Scientist degree (in Operations Research) and Doctorate (in Systems Theory and Cybernetics) from the George Washington University.
Rocky Lee, former Vice President and Global Director at BTG International Inc., a leading technology investment and commercialization firm with a portfolio of 500+ technologies underpinned by 3,000+ patents. As General Manager of BTG's Biopharmaceuticals Business Unit, he created and ran a new multi-million dollar investment portfolio focused on emerging technology products and platforms in medical devices, drug delivery, diagnostics and genomics. As BTG's Head of Corporate Strategy & Development, Mr. Lee led an investment strategy/operations restructuring that drove a $500M+ gain in market capitalization within 12 months. Finally, in leading BTG's New Ventures and Business Development activities, Mr. Lee developed the investment strategy for BTG’s $50M corporate technology venture fund and initiated formation of a $150M European fund, Limeburner Capital, in partnership with leading investment banks, ventures funds, and research organizations. Prior to BTG, Mr. Lee was a Director at top pharmaceutical seller Bristol-Myers Squibb where he served in various marketing, strategic planning, and business development functions. Earlier in his career, Mr. Lee was a strategy consultant at Bain & Company. Mr. Lee is currently a PhD candidate at The Wharton School, University of Pennsylvania. He received his MBA in Finance from The Wharton School and his BA with honors from Harvard University.
Dr. Michael Branicky, Program Director, Computer & Network Systems at the National Science Foundation. Professor Branicky's research is in the area of “Hybrid Systems,” which are those combining discrete and continuous inputs, outputs, states, and dynamics. Within this area he has made contributions to stability and complexity theory, optimal control, planning/verification algorithms, and simulation. He has also successfully worked on applications, including flexible manufacturing, robotic assembly, control over networks, multi-agent control, and biology (including cardiac bioelectricity, learning, and multi-functionality in networks of neurons). Dr. Branicky received a BS and MS in Electrical Engineering and Applied Physics from Case Western Reserve University. He achieved the ScD. in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology.
Presenters
Dr. Phillip F. Myers is founder and President of Advent Power, a company whose mission is to rapidly and profitably develop, manufacture, and sell innovative engines for power generation and motive power applications. As an Engineering Officer at the Air Force Logistics Command Headquarters, at Wright-Patterson AFB, then Lt. Myers made key recommendations for logistics management practices and participated in various war planning activities. Dr. Myers has personally performed every business function in a company from the factory floor up to president and chairman of the board. He has served as a senior staff or line officer in medium to large companies and as founder and chief executive of several of his own companies. He holds a five-year industrial and systems engineering degree and an MBA from The Ohio State University. He was a three-time Ford Foundation Fellow at the Harvard Business School where he received his doctorate in 1966.
Wayne Morse, Chief Executive Officer, American Dynamic Flight Systems, an advanced technology development company focused on the development of innovative aerospace and defense systems and technologies. Prior to his current role, Mr. Morse was a Senior Manager with General Dynamics in their Armaments and Technical Products division. He received his undergraduate degree from Excelsior College.