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Spinoffs: pain and pleasure
BOOKS & MEDIA UPDATE
Spinoffs: pain and pleasure Scott Shane’s new book on university spinoffs examines the process of transforming research into a product and should be read by all those involved in technology transfer, says Tim Cook. This book is a comprehensive review of research by the author, Scott Shane, and others in the US and elsewhere. It provides not only a clear and wellstructured review of the data, but also the sources are always quoted, giving the reader an index of the literature. Shane spent many months in the Technology Licensing Office at Massachusetts Institute of Technology, one of the leading exponents of academic entrepreneurship and spinoffs, and the foreword from Lita Nelson, the long-term leader of that office, underwrites her support for his conclusions. The structure of the book is particularly clear and well presented. The first chapter gives an overview, describing the three following sections. Two chapters explain why university spinoffs are important economic entities and describe their history. The next five chapters discuss the factors that affect their creation: the university context, societal context, the technology, and the people. The final section of three chapters covers the process of creating spinoffs, specifically extracting the technology from the research, transforming the technology into a product, and raising finance. One aspect I found particularly helpful is that whenever the author gives a list of factors, he tells you how many there are, then gives a one-sentence description of each. This is followed by an expanded discussion giving a paragraph or more on each of the factors. This enables the reader to see the structure of the issues and follow the arguments easily, and is a pleasing contrast to some books on this subject, which are more a monotonic narrative than a structured presentation. Where helpful to illustrate a point, there are quotations from those involved in spinoffs, both successful and unsuccessful. The many data tables, as well as the odd diagram to illustrate the process, serve to break up the text and provide ready references. Chapter 13, entitled The Problems with University Spinoffs, should be required reading by the head of
50
September 2004
any university venturing into this field and for any technology transfer officer operating in it. The review of problems, both those arising from conflicts with university goals and objectives and those of managing the process, are well defined and clearly analyzed. Any institution would be well advised to devise answers to the problems posed before starting out. The only criticism I can find to make of this book, and reviewers are always supposed to find something to complain about, is the price of £65 (although I did find a second hand copy at £59.89). This means that the book is probably not for airport book stalls but rather one for those with a serious interest in the subject or for libraries, both academic and public. For the serious reader it will amply repay their cost and concentration; for libraries, I do not see how any business library can justify not holding it. It will be an essential resource for the increasing number of academic researchers and MBA students looking at this field, since it provides them with an overview and bibliography in one easily accessible format. Having been involved in spinoffs as an investor, manager and, for the last seven years, a university Scott Shane Academic Entrepreneurship: University Spinoffs and Wealth Creation Edward Elgar Publishing (2004), 352pp., ISBN: 1-84376-454-7 $100.00 /£65.00
promoter, I thoroughly recommend this book to academics researching the subject or thinking of spinning out a company; to university technology transfer managers and senior administrators whose institutions would benefit from spinoffs; to investors who, by acquiring a deeper understanding, could enhance their returns; and to local and national politicians who, by understanding the contribution spinoffs could make to their economies, would see the value of encouraging them. Tim Cook is managing director of Isis Innovation Ltd., the technology transfer company of the University of Oxford, UK.
Introduction to Quantum Mechanics in Chemistry, Materials Science, and Biology Sy M. Blinder Academic Press (2004), 319 pp. ISBN: 0-12-106051-9 $47.95 / £29.95
Blinder presents an introduction to quantum mechanical principles for undergraduates and graduates not taking physics courses. The book explains the experiments that led to the development of quantum theory, the basics of atomic and molecular structure, and the foundations of modern applications such as molecular spectroscopy, lasers, and nuclear magnetic resonance imaging.
Liquid Crystals, Laptops, and Life Michael R. Fisch World Scientific (2004), 376 pp. ISBN: 981-238-901-6 $84 / £51
Fisch frames this introduction to the physics and chemistry of semiconductors, polymers, and liquid crystals with descriptions of their functions in laptops and living organisms. After an introduction to the basic science of atoms and molecules, the properties of these materials and examples of their applications are covered.
The Handbook of Nanotechnology. Nanometer structures: Theory, Modeling, and Simulation Akhlesh Lakhtakia SPIE Publications (2004), 576 pp. ISBN: 0-8194-5186-X $88
This handbook describes the theoretical aspects of nanometer structures, including thin films, photonic band gap structures, quantum dots, carbon nanotubes, and quantum information processing systems. Advances in modeling and simulation are also discussed.
Expert Graduate Undergraduate
Spinoffs: pain and pleasure Scott Shane’s new book on university spinoffs examines the process of transforming research into a product and should be read by all those involved in technology transfer, says Tim Cook. This book is a comprehensive review of research by the author, Scott Shane, and others in the US and elsewhere. It provides not only a clear and wellstructured review of the data, but also the sources are always quoted, giving the reader an index of the literature. Shane spent many months in the Technology Licensing Office at Massachusetts Institute of Technology, one of the leading exponents of academic entrepreneurship and spinoffs, and the foreword from Lita Nelson, the long-term leader of that office, underwrites her support for his conclusions. The structure of the book is particularly clear and well presented. The first chapter gives an overview, describing the three following sections. Two chapters explain why university spinoffs are important economic entities and describe their history. The next five chapters discuss the factors that affect their creation: the university context, societal context, the technology, and the people. The final section of three chapters covers the process of creating spinoffs, specifically extracting the technology from the research, transforming the technology into a product, and raising finance. One aspect I found particularly helpful is that whenever the author gives a list of factors, he tells you how many there are, then gives a one-sentence description of each. This is followed by an expanded discussion giving a paragraph or more on each of the factors. This enables the reader to see the structure of the issues and follow the arguments easily, and is a pleasing contrast to some books on this subject, which are more a monotonic narrative than a structured presentation. Where helpful to illustrate a point, there are quotations from those involved in spinoffs, both successful and unsuccessful. The many data tables, as well as the odd diagram to illustrate the process, serve to break up the text and provide ready references. Chapter 13, entitled The Problems with University Spinoffs, should be required reading by the head of
50
September 2004
any university venturing into this field and for any technology transfer officer operating in it. The review of problems, both those arising from conflicts with university goals and objectives and those of managing the process, are well defined and clearly analyzed. Any institution would be well advised to devise answers to the problems posed before starting out. The only criticism I can find to make of this book, and reviewers are always supposed to find something to complain about, is the price of £65 (although I did find a second hand copy at £59.89). This means that the book is probably not for airport book stalls but rather one for those with a serious interest in the subject or for libraries, both academic and public. For the serious reader it will amply repay their cost and concentration; for libraries, I do not see how any business library can justify not holding it. It will be an essential resource for the increasing number of academic researchers and MBA students looking at this field, since it provides them with an overview and bibliography in one easily accessible format. Having been involved in spinoffs as an investor, manager and, for the last seven years, a university Scott Shane Academic Entrepreneurship: University Spinoffs and Wealth Creation Edward Elgar Publishing (2004), 352pp., ISBN: 1-84376-454-7 $100.00 /£65.00
promoter, I thoroughly recommend this book to academics researching the subject or thinking of spinning out a company; to university technology transfer managers and senior administrators whose institutions would benefit from spinoffs; to investors who, by acquiring a deeper understanding, could enhance their returns; and to local and national politicians who, by understanding the contribution spinoffs could make to their economies, would see the value of encouraging them. Tim Cook is managing director of Isis Innovation Ltd., the technology transfer company of the University of Oxford, UK.
Introduction to Quantum Mechanics in Chemistry, Materials Science, and Biology Sy M. Blinder Academic Press (2004), 319 pp. ISBN: 0-12-106051-9 $47.95 / £29.95
Blinder presents an introduction to quantum mechanical principles for undergraduates and graduates not taking physics courses. The book explains the experiments that led to the development of quantum theory, the basics of atomic and molecular structure, and the foundations of modern applications such as molecular spectroscopy, lasers, and nuclear magnetic resonance imaging.
Liquid Crystals, Laptops, and Life Michael R. Fisch World Scientific (2004), 376 pp. ISBN: 981-238-901-6 $84 / £51
Fisch frames this introduction to the physics and chemistry of semiconductors, polymers, and liquid crystals with descriptions of their functions in laptops and living organisms. After an introduction to the basic science of atoms and molecules, the properties of these materials and examples of their applications are covered.
The Handbook of Nanotechnology. Nanometer structures: Theory, Modeling, and Simulation Akhlesh Lakhtakia SPIE Publications (2004), 576 pp. ISBN: 0-8194-5186-X $88
This handbook describes the theoretical aspects of nanometer structures, including thin films, photonic band gap structures, quantum dots, carbon nanotubes, and quantum information processing systems. Advances in modeling and simulation are also discussed.
Expert Graduate Undergraduate