Southeast TechInventures Signs Master Licensing Agreement with The University of North Carolina at Chapel Hill
Posted: 02-17-2009 : RESEARCH TRIANGLE PARK, N.C.

RESEARCH TRIANGLE PARK, N.C. – Southeast TechInventures, Inc. (STI) today announced the signing of a Master Licensing Agreement with The University of North Carolina at Chapel Hill. The agreement’s goal is to streamline negotiations and accelerate the acquisition of intellectual property – a key step in the technology commercialization process. STI works in partnership with university-based inventors to efficiently commercialize the most promising new technologies.

“Southeast TechInventures supports inventors through the entire early stage commercialization process,” said Cathy Innes, Director, Office of Technology Transfer, UNC Chapel Hill. “Their proven success in this arena aligns with our strong tradition of fundamental and applied research, licensing and transferring technology into the marketplace.”

Ashok Mendiratta, STI’s Chief Commercialization Officer, sees great potential in STI working with distinguished researches at UNC to assist them in commercializing their technologies. “As a technology accelerator, our primary focus is to help universities and inventors bring promising new innovations to market,” said Mendiratta. “To be successful in this arena requires leading-edge scientific breakthroughs and collaborative partnerships.”

STI uses Small Business Innovation Research (SBIR) grants and other government and corporate funds to further develop technology. STI’s proof-of-concept and prototype development model is demonstrated in its SBIR grant success rate, which is twice the national average. To achieve this success, STI gets actively involved in developing technologies and associated business plans and then connects with its strong network of angel and VC investors to get funding to commercialize the technologies.

The combination of a proven process and expertise has already resulted in 17 spin-off companies formed to fully launch products. The spin-off companies are in the areas of life sciences, medical devices, diagnostics, photonics, optoelectronics, materials and IT. Mendiratta further stresses the importance of involving industry experts throughout the process. “We have pioneered a unique partnering program with key leaders in a variety of industry sectors. These industry partners provide market validation and pull for technologies.”

STI is currently working with several UNC Chapel Hill early-stage technologies and is interested in identifying other promising research that might benefit from STI’s approach to commercialization. In addition to UNC Chapel Hill, STI has similar licensing agreements with several other universities in North Carolina and will continue to look for opportunities to partner with other top research institutions.

About UNC Chapel Hill’s Office of Technology Transfer
The Office of Technology Development (OTD), in support of the university's mission to encourage innovation and disseminate knowledge, serves the university and the public by licensing innovations developed by faculty, students and staff. The services include evaluating, patenting, licensing and assisting faculty in obtaining research support from corporate sponsors. OTD’s professional project managers have considerable expertise in science, business development and intellectual property law. The intangible benefits of technology transfer are as important as the financial payback to the University and its researchers. Like the roots bring nourishment to the whole tree, the activities of the Office of Technology Development spread the benefits of University research to Chapel Hill, the Research Triangle, the State of North Carolina and its industries, and, ultimately, the global community. onc@unc.edu www.ott.uncc.edu

About Southeast TechInventures
Based in Research Triangle Park, NC, Southeast TechInventures, Inc. (STI) was incorporated in January 2003. STI has pioneered a commercialization process powered by their proprietary TechInventures Accelerator ProcessSM. This process involves a unique intellectual property licensing methodology; the ability to obtain funding for technology and prototype development (via Small Business Innovation Research grants and other government and corporate funding sources); develops business plans and then obtains institutional funding for commercialization; and facilitates market pull through industry partnerships. STI’s technology focus areas include: (1) Medical devices, (2) Photonics and Communications, (3) Nanotechnologies, and (4) Materials. STI spin-off companies currently include Advanced Liquid Logic, Bioptigen, Oncoscope, ImagineOptix, Ridge Diagnostics, and MBright. For more information, please visit www.southeasttechinventures.com.