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Virginia Tech

Location: BlacksburgVA 24061 Document ID: AC086-0MYJ Posted on: 2018-07-1207/12/2018 Job Type: Full-time

Job Schedule:Full-time
2018-08-11
 

Associate Director of New Ventures

Virginia Tech is a public land-grant university, committed to teaching and learning, research, and outreach to the Commonwealth of Virginia, the nation, and the world. Building on its motto of Ut Prosim (that I may serve), Virginia Tech is dedicated to InclusiveVT-serving in the spirit of community, diversity, and excellence. We seek candidates who adopt and practice the Principles of Community, which are fundamental to our on-going efforts to increase access and inclusion, and to create a community that nurtures learning and growth for all of its members. Virginia Tech actively seeks a broad spectrum of candidates to join our community in preparing leaders for the world.

Position Summary:
The Office of the Vice President for Research and Innovation at Virginia Tech is seeking an Associate Director of New Ventures. The office oversees the university-wide strategic initiatives and operational functions of Virginia Tech's $520+ million research enterprise and is home to Link, The Center for Advancing Industry Partnerships, which is taking a holistic and integrated approach via a Discovery to Market model. This position is key to the ambitious plans Virginia Tech is making to be a leading 21st century land grant university that delivers innovative solutions to the most pressing global challenges of our time.
A successful candidate will work closely with stakeholders across the university to facilitate the commercialization of technologies with a focus on start-ups, new venture development, and licensing to small enterprises. In this role, the Associate Director will build collaborative relationships with key entrepreneurial faculty, staff, and post-docs, solicit invention disclosures in support of startup company formation, develop curriculum and training events for those interested in engaging in a startup, and track portfolio companies' progress to foster entrepreneurship, innovation and research commercialization. A successful candidate will work as a member of a matrixed team to strong innovation management, including business development professionals and Associate Directors and Directors of Technology Commercialization.
Reporting to the Executive Director of Link, a successful candidate will:
- Build and nurture a commercialization network of community members, wherein the network combines deep experience with early ventures and breadth across Virginia Tech's areas of technology innovation.
- Leverage the commercialization network to advance and develop innovative technologies and help develop commercialization skillsets among faculty, post-doctoral, and graduate student inventors.
- Collaborate with other Link members to evaluate opportunities, inform appropriate commercialization paths, and in some cases, pursue start-up formation in parallel with other commercialization activities.
- Manage patent prosecution with external patent counsel to assure the patent strategy is followed, and intellectual property rights are appropriately protected.
- Develop informational sessions for stakeholders on issues relevant to investments in startup companies.
- Cultivate intellectual property from multiple sources to expand Virginia Tech's startup pipeline.
- Assist with early business development, potential customer interactions, and business/development partners.
- Market startup companies and technologies to prospective investors; serve as a liaison with potential investors.
- Draft and negotiate commercial license agreements with startups, and ensure compliance of licensing obligation.
- Source new venture investments including meetings with founders and entrepreneurs, attending relevant conferences and networking events, and calling on new prospects.
- Conduct detailed industry, business, and financial due diligence on prospective investments; prepare in-depth financial and data analysis for potential investments, including customer and management references, market sizing and mapping, and industry research.
- Support development of pitch materials, grants, and other communication materials.
- Develop financial models relating to financing, restructurings, valuation analyses and liquidity, and perform careful evaluation of ROI opportunities.
- Engage with Entrepreneur in Residence ( EIR ) program that optimizes deployment of current and recruit new EIRs.
- Oversee the relationships and advise the Virginia Tech portfolio companies with recommendations and coaching.
- Develop and document best practices for growing start-ups and mentoring programs within the Virginia Tech innovation ecosystem.

Required Qualifications:
- Master's Degree OR Bachelor's degree (in a physical science or engineering) and demonstrated progressively responsible professional experience focused on commercialization of early innovative technologies within a university environment or start-up, and/or appropriate industry or discipline.
- Experience/knowledge in key functional areas, such as company formation, licensing, commercialization, and deal structuring.
- Progressive leadership experience in either a university technology transfer office, in a start-up, or within industry leadership positions responsible for new ventures.
- Excellent communication and interpersonal skills, including public speaking, presentation and pitches.
- Strong organizational skills and an ability to handle multiple and complex tasks and projects concurrently.
- Demonstrated energetic and visionary leader with commitment to teamwork.
- Willingness to travel on a frequent basis.

Preferred Qualifications:
- Proven industry, investment, and/or small enterprise experience.
- Connections and experience working with venture capitalists and/or angel investors across industries.
- Demonstrated networking skills, including negotiating strategic, business-to-business agreements and assisting companies with finding additional financing.
- Early stage fund development and management experience.
- Previous business development/strategy experience in creating and implementing progressively complex strategies using data analytics, technical/domain knowledge and information, and competitive/market intelligence to guide decision making.



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