Workshop unites scientists, investors
Steven Schultz
More than 250 investment professionals attended a workshop Jan. 5 to hear presentations by Princeton scientists whose research has potential commercial applications. The workshop focused on the burgeoning fields of photonics, nanotechnology and biotechnology.
The event was a first for the University and is part of an increasing effort to create industry-university partnerships to develop scientific findings into commercial technologies.
The workshop, which included talks by industry leaders about trends and opportunities in science entrepreneurship, featured presentations by 18 scientists on subjects ranging from neuroscience to optical devices for a faster Internet.
The response from both faculty members and the business community has been "most rewarding," said Joseph Montemarano, director for industrial liaison at Princeton's Center for Photonics and Optoelectronic Materials (POEM).
The workshop was organized by POEM in collaboration with the Princeton Materials Institute, and the offices of technology licensing at Princeton University and at the Princeton Plasma Physics Laboratory.
"This is a monumental event for Princeton," said Caren S. Franzini, executive director of the New Jersey Economic Development Authority. "Princeton, to the outside business community, is viewed as a university that is very internal. Today marks a day when Princeton says 'We do have valuable research being done here and it does have commercial applications and it's a good thing.'"
Partnerships with industry are essential to a vibrant engineering program, POEM director James Sturm told the group. "We can't survive as an academic institution, as an intellectual enterprise on our own," he said. "Even if Princeton does not make a dime, we need these partnerships if we are going to succeed."
For many scientists in attendance, making presentations to investors was a novel experience, but one that they view as increasingly valuable.
"I never imagined I would be talking to a group whose interests are primarily in commercializing technology," said neuroscientist Joseph Tsien. "Now I see it more positively, as one component of a dynamic research project."
"I'm a little terrified," acknowledged Sandra Troian, professor of chemical engineering, as she prepared to give her talk. Her research on controlling the flow of minute amounts of liquid may lead to miniature devices that could be used in drug discovery and other fields. Troian said it would be her first attempt to explain her work to a group other than scientific colleagues.
Until a few years ago, Troian's work was strictly basic research, and she had no reason to present it to people outside her field. She was surprised, she said, when her findings suddenly began to have commercial applications.
"The pace has become a lot faster, but I find I prefer it that way," she said. "It's a lot more fun."
Montemarano said that feedback he's received from both scientists and investors has been positive. He has begun to form an advisory board to create a similar event, which he hopes to schedule for late spring.
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