770_  A valuable resource for commercializing - Part 1 of 2
 Kate Tallman, Director of Tech Transfer for CU Boulder and Tim Bour, Executive Director, Boulder Innovation Center discussed commercialization of innovative ideas and inventions as well as support offered entrepreneurs. Kate introduced him, "Tim's been with the Boulder Innovation Center for a little over 3 years, and he has built the program from one focus mainly on software and organics and natural into one that now works with all kinds and sectors of technology including clean tech and the biosciences space. So the BIC has become a valuable resource for commercializing university technology. Can you give us some background on what the BIC is?" Time replied, "First of all, most traditionally, people think of the BIC as an incubator, but with some important differences. We're structured as a nonprofit, as a 501c6 nonprofit. We don't have any incubator space, we don't take any equity in our clients and we don't charge any success fees. This is different than many incubators you'd find around the country. But we find that it's really dealt well in terms of working with universities and it also does well in terms of growing jobs in the community, and that's one of our key outcomes. We currently have six market segments; we work in the area of clean tech which includes bio fuels, solar, software, building materials, anything that has a reduction in energy and efficiency in energy. Currently we have 750 advisors in our network and they're pretty evenly divided in those six segments. We currently have 35 outside clients and we work with between 70 and 100 companies a year that become BIC clients. Now of those 35, today right now, 24 of the 35 are based on CU research." Listen for more entrepreneurial support systems... 
Related Links: Boulder Innovation Center || Tech Transfer Channel ||CU Technology Transfer Office || CU TTO News ||  Keywords: Tim Bour, Kate Tallman, Boulder Innovation Center, CU TTO, Tech Transfer, Commercializing, Clean Tech, BioScience, Engineering, IT, Natural, Organic, Space. Channel: CU TTO 8969899 bytes 1/11/10 LISTEN to Tim Bour & Kate Tallman

775_ An opportunity for angel investors and startups 
Part 2 of 2  Tim said, "There are two elements of the financial picture. One is how do we get funded and the second one is what do we do to help the companies we work with get funded."Kate Tallman, Director of Tech Transfer for CU Boulder and Tim Bour, Executive Director, Boulder Innovation Center continued their discussion about commercialization of innovative ideas and inventions. He continued, "Our operating budget is around $350k a year, I'm happy to report we are in the black for 2009 and we project we'll be in the black for 2010. It's been a very difficult year, we've been able to inspire the people who sponsor us to continue to do so, because of the work we're doing trying to create more jobs and start new companies. Of the $350k we get about $150k from CU, different sections of CU that have an interest in clean tech, the Tech Transfer Office, bioscience, but all together $150k. The City of Boulder is also a funder of the BIC, the Boulder Chamber of Commerce and the Boulder Economic Council. Now with public sector, the University has a very clear goal which is to commercialize research. Kate continued with the 'angel investors'. Tim explained, "We've taken on investment into our companies as a strategic goal for 2010. We started our effort back in November. We have about 100 investor types, mostly angels, some others, in our network right now. We took a look at them and realized a lot of the investors had an affinity to one of our segments. So in November we put together what we called an Angel Showcase where we had about 20 angel investors in clean tech, we brought them into a showcase with three companies two of which were from CU and happy to report that those companies are in talks with some of the investors." Listen for more...
7979034 bytes 1/18/10 LISTEN to Tim Bour