WPI Campus, Salisbury Labs, Room 115
Registration 6 p.m.
Meeting 6:30 p.m.
Admission Fee $7
The New England area is known as one of the country's hot-spots for technical innovation. What if, as an entrepreneur, you wish to start a company based on a solid technological advance about which you may have heard but of which you were not the originator? You may be able to license the technology. Such a situation could save you years of your own development work and millions of dollars. Major corporations cross license technology all the time. But is it possible to license technology to start a new business? What are the advantages and disadvantages to licensing technology?
The January meeting of the WPI Venture Forum will address the above issues as well as the ins and outs of starting a business with licensed technology. The Forum will provide an opportunity to gain insight in the process of licensing and what is necessary to sign the deal.
The speaker for the evening will be Jack Turner. Turner is a Technology Licensing Officer for the MIT Technology Licensing Office, a group that is well known worldwide for businesses that they have started with licensed technology. Turner joined the Licensing Office three years ago after working for more than twenty-five years in engineering and senior management positions at three Boston-area high-technology companies. The MIT Licensing Office has a staff of 25 and a portfolio of 200 patent licenses. Nearly $1 billion in development capital has been invested, creating more than 2,000 jobs. Turner will cover the general aspects of licensing technology, highlighted by specific cases from his ever growing lists of companies.
Case Presentation
Peter B. Lothes, president
Chas. G. Allen Co. Inc.
25 Williamsville Road, Barre, MA 01005
The January case study will be a discussion of a "re-startup" situation. The Chas. G. Allen Co. Inc., is a 120-year old company with a new owner. Allen manufactures metal-working machines that form components of large manufacturing machines.
Allen would like to bring traditional manufacturing quality to the market as machine tool orders climb. Due to a shrinking market for production-run machines and foreign competition, the company's products have not sold as well in recent years. Peter Lothes, president of the company, would like to change the focus of the company to include contract manufacturing and manufacturing partnerships. Moneys from these operations will be rolled back into the company for further development. His plan is to double the $2.5 million sales in the next few years, and double sales again in another three years.
The company will see suggestions and guidance from our panel concerning its plan in the following areas:
€ The marketing of the contract manufacturing side of the business while increasing machine tool sales.
€ Using world-class manufacturing and TQM concepts to improve overall competitiveness.
€ To manage and finance short and long term goals to carry out the company's new mission.
The mission of the WPI Venture Forum, sponsored by the WPI Alumni Association, is to promote and serve technology-based entrepreneurial activity through education, networking, and recognition. It meets monthly during the academic year on the WPI campus. For additional information about Venture Forum and to be placed on its mailing list call (508) 831-5821.
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