Conférence Innovation Ecosystems

Conférence Innovation Ecosystems

everybody big and warm welcome thank you for being here this evening thank you for your interest in this conference my name is l'homme Vela I'm the director of the technology transfer office uniteq and we are here to not only celebrate our 20th anniversary but also to thank all the actors and partners of the ecosystem that make this technology transfer true and I'm very glad that we see many people tonight many friends many colleagues and so it's very nice for me to open this conference and I just want to give a few information about Unitec for those of you who don't know what we need tech is and then I will give the word to the guest speakers that will go on with the conference so I just quickly will cover in few slides what Unitec is doing and what our I would say success if we can see success in the last 20 years so initech has four main activities you can see on that slide the first one the most important one is to do what we call valor is as shown which is technology transfer the second one is very important it's training we have a lot of possibility to get people more confident about what is technology transfer specially the student and people from the University and University Hospital of Geneva we also run a proof-of-concept fund which allow to support research up to 30,000 Swiss franc to actually take a discovery and develop it further hopefully to get a success in technology transfer with the license at the end and finally the events this is one of them for our 20th anniversary we have a series of event I will just close my presentation quickly on another one but this is very important for us to also of course network meet you meet other colleagues our partners or investors and this is part of what we do now in terms of numbers I I won't spend a lot of time but you just want to want to give you a bit of a taste of what happened in the last twenty years of activities of Unitec we just went beyond the 1,000 inventions that were disclosed by researcher to in attack and evaluated among them there is 350 that are still active and we are working on them out of these inventions 200 more than 250 inventions were filed as a patent applications and we work also with outside patent attorneys some of them here tonight thank you for this also very important support for us out of these 250 patents 150 have been granted that also good news for us that means we have a strong intellectual property portfolio and of course the goal is to actually transfer these discoveries to companies and this more than 250 licenses also designs for me the most important sign is the one of a success meeting convincing and negotiating and concluding agreements with private partners out of these licenses we got about 7.3 million Swiss fan pack which is split among the researcher the group and the University and the hospital and out of that and this is also very important we have 45 spin-offs we will have a few examples tonight and this is very important for us also to help people develop and launch new ventures and create jobs and hopefully have an impact later on the last number it's most important for me is the number of private investment in the area based on spin-offs and I think this is a key number for me it's not the money that we is flowing in to the university is the money that is flowing in the region the ecosystem and this 800 million Swiss franc they help to create jobs they have to buy equipment launched startup so I think it's for me it's the most important number in these 20 years just to give you what's going on in Switzerland I want also spend too much time on that there are only two ranking I know of technology transfer in countries and Switzerland is very well placed right now when ranking is IMD the other one is the World Economic Forum I'm not saying we are the best and we have guests from USA and Israel they also very well ranked I think Switzerland is among the top five clearly and I think it's also linked to the success not only of University uniteq the researcher but also the ecosystem if you just look back in question of time I made this graph this morning quickly these this is exactly the same ranking that you saw on the left before but just in a matter of time so you see the evolution of Switzerland Israel and USA I took three countries and you see that Switzerland studied a bit like 10 11 12 and slowly but surely made his way to the top and I think I'm very happy tonight we have three representative of top countries in technology transfer rankings just to finish up my presentation I said it's a thank you it's a thank you for the ecosystem and I'm happy you are here tonight and we organised a few months ago special event for the students because also it's very important for us to train and to encourage students to be creative and what you see here is a series of pictures of people students that are involved in entrepreneurship in at the University and we wanted to thank them of this effort and I like also to acknowledge the work of Manno with on the back with photos apart man on can you just wave she made the project real by making this picture of these hundred students and I think it's very important when you are in the university to realize the importance of the creativity of the students and we hope in the future the students will become entrepreneur and maybe in 20 years I won't be here but they will be in the room and maybe my successor will also acknowledge their work so thank you very much I'm looking forward for this conference and I will give the word to Mary for presentation about Stanford ecosystem thank you I have to put the mic really far at least you guys can see me over the podium I've gone to speak many places where I have to stand on a box because people can't see me and you have a laptop there so this is quite nice okay I'm Mary Albertson I work in the office of technology licensing at Stanford University and I'm also the immediate past president of autumn how many of you know what autumn is awesome so I'm gonna talk a little bit about Stanford and how its growth has been related to Silicon Valley's growth it's a pretty brief description but hopefully it'll give you an idea so in 1950 Silicon Valley didn't even exist the area that's now considered Silicon Valley was mostly orchards fruit orchards but in 1951 Varian leased a building in Stanford's industrial park and this is generally considered the birth of Silicon Valley the term wasn't used in publication until 1971 although people were using it commonly so an important person is Fred McCready Terman he and Wallace Stirling have been called by a lot of people the fathers of Silicon Valley Walla Sterling was the president of Stanford from 1949 to 1968 and Frederick Terman was both a Dean of the School of Engineering and a Provost so together they set up this program the University Honors cooperative program this was basically a program that allowed engineers who are already at companies to come back and take some courses so they could stay abreast of what the latest research was but it also allowed the staff to understand what was going on in the companies and this is really a cornerstone of Stanford's entrepreneurial philosophy they really want their faculty to stay connected with the companies in the area and they he founded the first industrial park it's now called Stanford Research Park but you'll see in a little bit what the size of that is and who who is involved in that and just to give an idea of how much of an impact he had on Silicon Valley at one point he was mentoring half of the grad students in electrical engineering and even once Bill Hewlett left and formed HeLa Packard he would come back frequently to bounce ideas off of Frederick so the objectives of Wallis and Frederick were to recruit top-tier faculty in targeted disciplines recruit top-tier graduate students and have them stay in the area creating this intellectual pool and then to bring height and to keep them there they had to have companies so they wanted to bring high tech industry into the area to hire those graduating students to participate in research collaborations because again they really thought it was important for industry to stay tied with the university to support and participate in industrial affiliates programs in an industrial affiliates program is a program where companies pay money and they basically get early access to technology they go to conferences and things but they also get access to the graduate students who hopefully they'll hire later sponsor research they always like money for research and to provide consulting work for the faculty and this is a different philosophy than some universities Stanford likes it when the faculty spend part of their time tied to industry and then obviously as the source of gifts and donations the university helped take money anyway can get it so this is a comparison between 1950 and 2018 and I think you'll have access to these I'm not going to read through all of them but a couple numbers that are particularly interesting is if you look at the number of graduates there were about 2800 in 1950 and then in 2018 there were over 9,000 and looking at the faculty number it's grown from 370 to just over 2000 the last number I want to point out is the sponsored research at the bottom went from 11 million to our current one point six four billion dollars in sponsored research and since this is where we get all of our technologies most of which are transferred with the grad students it's increased so significantly that we are a big presence in Silicon Valley as far as a source of technologies oh I should say to that most of that sponsored research more than 80 percent is government sponsored research so the Silicon Valley today is over 1,800 square feet square miles square feet and has a population of about 3 million the average annual earnings of somebody who works there is a hundred and thirty one thousand dollars but the median home price is nine hundred and sixty eight thousand dollars so one of the biggest problems we have is keeping people in Silicon Valley and recruiting people to Silicon Valley because of the cost of living there's a lot of good technology there but you have to be able to afford to live and there are thousands of high tech companies located there this next number I find pretty impressive twenty four point nine billion dollars a VC investment in the area that includes Silicon Valley and San Francisco so Stanford Research Park the original purpose was to earn income but that was revised pretty quickly to reflect what Stanford was trying to do which is place Rd focused companies near Stanford so it was started in 1951 with 209 acres and as I mentioned before the first tenant was variants soon after Shockley transistor and hewlett-packard came and Gila Packard is still there talking a little bit about the growth you can see over the years the number of companies increased have 40 companies they doubled the acreage and then in 85 there were over a hundred companies you can see the last two bullets talk about revenue Stanford gained some revenue from this with rent and things and then Palo Alto was pretty happy because in taxes and things like that they made money to the benefits that they were touting to people who would come here is access to Stanford University's students proximity to venture capital there's a bunch of venture capital on Page Mill Road which isn't far from here sustainable buildings and believe it or not the Palo Alto weather some people like to move there because of the weather we don't have snow there so I'm all excited about the snow it's unique the research park today has a hundred and fifty companies which is basically the limit currently and 23,000 employees 700 acres so that increased again and then the industry is really diverse it goes from electronics to biotech to law firms so we have a lot of different people there a list of tenants that are there you see Hewlett Packard is still there Tesla's they are VMware so talking about all this technology transfer in its various ways students through our office faculty Consulting what is the point in the point is impact what impact does this technology make and you can see there's over forty thousand active companies that can trace their roots back to Stanford this is not obviously just founding companies that's only a small percentage its faculty consulting on people's scientific advisory boards and students which again is the number one way we transfer technology more than 5.4 million jobs and 2.7 trillion dollars in annual were world revenues these are numbers that are pretty hard to get but they've done some particular surveys where they feel confident in them these last numbers I found when I was researching for this talk to be really interesting I wouldn't thought they would be so high but at the Stanford faculty and alumni 29% reported being entrepreneurial 32% have been investors early employees or board members on the startup and that's a really high number and then the last of those who became entrepreneurs 55% chose Stanford due to the entrepreneurial environment so this is 55% of those who said they were entrepreneurs in the pool of alumni and faculty so three factors of success at Silicon Valley the technical social and educational infrastructure the capital sources and the intellectual pool of talent so how do we help our entrepreneurs at Stanford there's the Stanford entrepreneurship network which has 43 different programs and there's a few listed up here but I'll talk a little bit about the first one bio design and this is a year-long course focused on medical devices and they have teams and the teams have a variety of people there are scientific people they're doctors they're people from the business goal and they try to get a mix on each team and what they do is they go out to practicing physicians and ask them what problem do you have that needs a solution they do needs assessment when they get an idea of a solution that they want to work with they come back with that and do market research build a prototype and things like that they also file a provisional application and at the end of this year they have to give a pitch to VC about if I formed a company what would it look like and why should you fund it actually there's a fair number of these students who do want to start companies so they come to us at that point they've already filed a provisional and we talk about what we're gonna do with that and then terms for our potential license the Stanford presidential venture fund the only involvement that my this has with that is that in our license agreements we actually have to include a clause that says the presidential venture fund can invest up to ten percent in any funding round so so far they've funded every startup that we've done a license with but they don't have to and then this academic venture exchange ADX is really interesting this has turned out to be pretty cool there's 12 universities who participate and basically it's a database that has a list of entrepreneurs who are looking for opportunities and very early-stage startups or technologies that the universities have where they're looking for a management team so then those are matched up the entrepreneurs can look at the opportunities or you can proactively look for an entrepreneur and I have a company in start-up company where the faculty wanted to start a company he didn't have a management team he didn't really know what to do we didn't want to license him because we didn't know if he was gonna have any success he got paired with one of the entrepreneurs on this database and he got hired as the CEO and he is still the CEO they've had I don't know what their success rate in but they've had a pretty good success rate in matching people up oh and then our office which I forgot to mention our involvement isn't in starting the companies it's in licensing them technology but we try when we're doing our license agreements to make them fit the fact this is a very early-stage technology in a very early stage company unlike many universities we don't proactively help them we don't write business plans we don't introduce them to VC or anything like that we are in an environment where there are so many people who are good at writing business plans and good at having a network of VC and good at making a pitch deck so we just let people in the environment handle that part and we stick to the licensing oops know what I did so to talk a little bit about my office our philosophy the first thing we look at is transferring the technology for society's benefit you'll notice the first thing on here isn't making money we would like to make money but that's not what we're in this for we want to see the technology get out there and get developed so that's part of doing what's best for the technology and this means when you're talking about doing a license you have to assess who is best able to develop the technology and can you split up fields of use and things like that to get more than one company working on it and then do as many good deals what this means is doing deals where you've picked a licensee who can develop the technology also that you hope to get good revenue if they ever make a product so you negotiate a good earned royalty and you try and make it as broadly available as possible so we try and do a lot of deals we don't ask for the most money we've never I shouldn't say never it would be very rare for us to walk away from a deal because of the money we try and make it work and this is because as my former boss that we're planting seeds we have to do a whole bunch of these licenses we can't predict which ones are going to be big winners so we have to do a lot of licenses and do them in such a way that we're helping industry make success so these are statistics for last fiscal year we made just over forty five million dollars in revenue this is compared to fifty thousand in 1970 our office was founded in 1970 we signed one hundred and fifty-seven licenses last year as compared to three in 1970 but the number that might be interesting is to look that we did half of these were non-exclusive licenses that means half of these licenses had to do with technologies that were biological material or tool technologies something that somebody would use to make a product people are usually surprised at this but those aren't are in the most part only big moneymakers although we do find with some of them we did 36 exclusive ones and then 41 option agreements most of our option agreements are too startup companies that don't they're very early-stage so they don't necessarily have funding yet they may not have a management team so we do an option with them that says for six months we won't license the technology they have to meet some kind of diligence requirement so if they tell me they're gonna raise two million dollars in six months I put in there if you raise two million dollars in six months you can then negotiate a license agreement so 41 options is a lot and like I said most of those are gonna be startups a lot of them will never end up executing a license because the company will disband in the first six months 22 startups again these are not ones we proactively started and the number is definitely low compared to other universities we don't have an economic development mandate which is basically part of the reason why we don't actively start companies these are companies that came to us and wanted a license so I want to talk a little bit about equity we take equity in our startups and a lot of people at other universities really push getting equity more equity than you do you can see we only made a million dollars in equity cash out last fiscal year and I say only because we made 41 million dollars in cash royalties and compare this to the research budget of the university it's one point six four billion dollars so our little one million dollars as far as the university is concerned doesn't move the needle at all 404 million cumulatively from equity a big chunk of that about 336 million was from Google so we have other statistics that say without Google so SEC's 68 million I mean we like to count Google but 68 million for non Google equity one point five five billion in cumulative cash flow royalties so is it really about the money when we take equity we don't we have a little bit of faith but we don't count on the fact that equity is gonna be worth anything in some cases it's not worth anything for a very long time I did I deal 10 years ago they didn't have an exit until recently and we made fourteen point six million dollars off of it which is a lot but it took ten years so this is a slide these are sobering statistics we use with our inventors often they come to us and they want to get rich off of their invention we patent about half of the inventions that we get and we license about 25% of that 25% a lot of those are non-exclusive though so not necessarily big moneymakers we had 813 inventions that made some kind of income last fiscal year but sometimes we get a check for $200 I mean it's a lot of them are insignificant of those 813 if you skip to the bottom only 7 of those inventions generated over a million dollars our royalty distribution policy is that we take 15% off the top and the remainder is divided into thirds the inventors get 1/3 which they split amongst themselves the departments get 1/3 and the school that the department is in gets 1/3 so for a lot of these if they're making $10,000 by the time it gets divided up for the inventors it's really not a significant amount of money they'll take it but so basically to summarize Stanford University in Silicon Valley grew up together I think you saw from some of the statistics things really jumped over the years since 1950 when Silicon Valley was started Stanford's entrepreneurial philosophy has been an integral part of Silicon Valley's success having the scientific know-how that Stanford has the faculty that we have working in concert with companies has proved to be a huge success ot L what my office does is a very modest part of the whole technology transfer were appreciated by the University but as the last bullet says our biggest source of technology transfer is really the students thank you [Applause] good afternoon and I'm very pleased to be here my name is Gil granite Meier I'm the CEO of Vida which is the Technology Transfer arm of the Wrightsville Institute thank you for the opportunity to talk to you and thank you and Lauren for the invitation and Unitec congratulation for the 20th anniversary we are celebrating this year our 60th anniversary sorry ADA is has been around for 60 years and it is a separate company which is actually being facilitating the technology transfer out of the Weitzman Institute so I'm going to take a bit different approach here and I'm gonna probably provide you with some details and numbers about the Israel ecosystem and I'm going to touch upon the global competitive index which I think gives us some insights about the different economies and our focus obviously on on Israel and then I'm gonna brag about the Israeli academic academia excellence and specifically about the Weitzman Institute but I think I want to convey the message that higher level education and very good science is also one key driver for a vibrant ecosystem for innovation and then I'm gonna focus on the life science sector in Israel talk about some more of our challenges and then go and talk about the opportunities or the future of that sector so obviously when you talk about Israel and you want to review the ecosystem in Israel there are several players that are key in the ecosystem in Israel it's known that we are leading in the ICT sector this sector is mainly built from the Army and the people that graduate the top elite units in the army so that's a big driver here academia plays a big role in in a lot of the technology transfer and also the creation of new intellectual property we have a large community of startups built over and a kind of culture we've been brand as the startup nation and it's it's flows and it's part of the kind of ambience and culture people holding you know usual positions and not starting their own venture are considered to be crazy or risk-taking which is really the opposite normally we have private funding growth companies multinationals companies this is a big player in Israel we have about 400 multinationals present in Israel I'm going to talk about the deficiency of such players multinational players in the life science sector and the government the government has played and is playing a very big role in pushing some technologies going further the ICT was Secretary Sherman and the government is seeking in our new actual new drivers of innovation in Israel I'm presenting here some some index of hi-tech index taken from the Israeli innovation Authority this is a part of the government a branch of the government which is dedicated to innovation they are supporting programs in innovation and Industry collaboration in about 1.5 million billion shekels I'm not going to go into the way they calculate this index but I think the message is that we're shifting from a startup nation into some more mature companies which is a good sign from the government so the startup Graff is starting to kind of not grow so fast and you can see that the established companies Graff is building up going to the OECD Science and Technology and industry scoreboard for 2017 you can see Israel sorry for probably you can see it bigger there but Israel is leading has been been leading from 2005 few numbers that I took from this source which are very significant first is the fact that we have the highest ratio of R&D expenditure to GDP 4.5% very vibrant VC community and also interesting that almost 10% of the R&D is actually performed by young companies which is companies which are five years or less so that's overall giving you the Israeli ecosystem current situation there are few challenges that we are facing and I already mentioned one of them the first one is the fact that we are very heavily focused on the ICT sector and about 70% of total investment goes to that sector the second issue is the gender bias more men are hired in that sector and the third one is the fact that it's actually concentrated in the middle of the country or the center of the country and not going to the peripheral areas the Israeli government is seeking to to actually mitigate that implementing several programs but the aim is to actually build new ecosystem drivers or news new sectors that will lead Israel artificial intelligences of some one of the first ones that come in mind healthcare health tech is the second one that comes in line there's a lot of effort being put into geographical spread so investments go to the rural areas and also implementing the technology new technologies in the day to day life in a proof of concept programs richer government started to implement this year actually adopting new technologies with very very easy regulatory path going forward so this actually enables new companies or startups to to do proof-of-concept with the government which is great for them another interesting insight again I'm relying on startup nation central source which is a non-for-profit organization and the IAA you can see the most growing sectors in Israel currently both in terms of funding and number of companies creation or the the growth in the number of companies artificial intelligence is indeed leading you can see also FinTech digital health cyber Transportation and Industry point 4.0 I just want to also mention that Israel used to be an agricultural country so AG tech is a big thing in Israel and I think it's going to grow quantum computing is also missing from the here and probably is not yet emerging but we could we see a lot of investment currently in the indie academia and also started to see some startups in that area as I've said the global competitive index from the World Economic Forum and these days it's it's it's nice to look at this and obviously as you can see switch line is the first United States second and Israel is 16 which is a big improvement for Israel and if we dive into this we and actually it is based on 12 pillars one of the pillars is innovation and if you go into the innovation pillar there's the industry university industry collaboration and here you can see that Switzerland and the United States and Israel are taking the first three places so obviously the message is that technology transfer is key and it's really a big driver of innovation and this brings me to the question of excellence in in academia and I just as I've said I'm I'm gonna present some some of the information about the Weitzman Institute just to give you a perspective the Weitzman Institute is a very small basic Research Institute 250 principal investigators altogether four thousand people the Weitzman started off sixty years ago sorry 70 years ago so it's a young basic Research Institute focused on excellence the most significant number is the I think the success rate in the ERC programs which is very high and really resembles the or prove the excellence of our scientists you can see the Israeli prize and the other prizes and the total of publication there are many ways to measure excellence one of them is the laden ranking and again the the here I just want to show the increase in the Weitzman position and the fact that Weitzman is now on the Ted top ten ranking the Layton is ranking measures the in the impact of publication so it is really covering the excellence of of the output of the campus another index that was published I think a couple of years ago was the nature index of the innovation and here is the actually measuring the impact or the citation of our publication in third-party pet and again I think this shows the relevance of our patents in the industry the fact that they're being excited so as I've said I'm going to focus on the life science sector and just to give you a very broad overview of this sector the sector is quite evenly divided between pharma medical devices and digital health we believe that digital health is going to become a much stronger army in the future and we've we've seen a significant investment now by the government of about 1 billion shekels in this area of digital health the reason that we believe that this life science sector is going to grow is the fact that we have a very strong scientific infrastructure we're number one in PhD per capita number three in patents per capita 33 percent of our students are actually life science students and about 50% of all publications in Israel are in the life science so life sciences should be very strong in Israel and hasn't kept caught up yet – it's just I mean – its promise what are the challenges that this sector is really having these days so I think the main challenge is currently the fact that we don't have any anchored companies Israel don't have a pharmaceutical company that it was really rooted and built in Israel like in other countries in Europe were the small farmer is growing up tefa is is a pharmaceutical company but it's I should remind everyone that it started off as a generic one and it's still a very much generic company so and it's the only company in Israel there's the late funding late stage funding which is actually missing and last but not least the fact that human will will acumen capital or human resources in really developing strong pharmaceutical companies in Israel so as Mary said they they have everything in in in in Stanford I mean they have money and the Human Resources we let them government is looking into that and actually is kind planning to start a program here to try and get this sector moving so what is planned some incentives to multinationals company and like the incentives work that were giving to Intel which brought in too heavily into Israel I think the idea is to try and find match new new multinationals that will are willing to come into Israel and building a second biotech incubator bank loans and money from the government to small startups and companies and also research translational research to support this creation of new companies in this area and recruitment of talents from abroad on a permanent or or non permanent basis to help actually support the industry and get experts that really can bring the companies to the level that they should be in the life science sector I think one of the most promising and interesting areas is actually the personal personalized medicine personal health aspect Israel is really very very well positioned in in that respect and should should be a leader leader in the world we have a very strong health healthcare system and leading position in the world in ICT we have a great rich electronic records very from the 80s a lot of them are diverse genetically so it's a great source for research and for development and scientific excellence so this really can bring up it could be a next secretary that or sub sector that can push the industry forward and just to give you a small taste from what we're doing at the Weitzman Institute I'm I just want to share with you the story about personalized nutrition project this project started off a few years ago in two labs at the Weizmann Institute the lab of Professor Siegel and Professor Alan ah've they came up to our office or to our company seven years ago with their first disclosure I remember the size of the patent manager who said this is never going to be a patent and we're never going to license it never say never so they actually got a thousand people and they started to collect data from their microbiota stool and also measure their glucose level and also other parameters so it's a huge database that is really very rich out of that database they devised an algorithm that can predict the glycemic response to different index of food and they actually can tailor or personalized diet for each person based on their microbiota and so they have a product that was developed really fairly quickly and they raised more than 17 million currently raising more money and a product out there in the market very very popular in Israel currently going now abroad to the states and this is I think is one example of digital technology and the fact of and utilizing some of our advantages and really building something that can impact health of people because this application is really very strong in controlling the Sumiko response and helping pre-diabetic and diabetic people as well as over people to keep their weight so with that thank you and I'm looking forward for the panel [Applause] whatever it is roundtable thank you very much Marion Gill for this sir very inspiring speeches it was really interesting to listen and true you went to learn more about your institution which are models for innovators in innovation but first as today we are celebrating you detects 20th anniversary I'd like to ask or two Swiss panelists how they consider that Lake Geneva innovation ecosystem has changed or evolved during these two last decades you've got microphones well I'm a bit embarrassed to talk about this next to Patrick a be sure who's been one of the makers of the of the health Valley in the lemon ich area but I think what has changed over the last 20 years is well the coming of the digital age and this convergence of the biotech the med tech and the Infotech and and therefore a new kinds of innovation but also new processes for for technology transfer because those innovations have evolved significantly in their nature and Patrick you know it's my first experience may be no I I was spending ten years at Brown University I was supposed going over there do not think about never heard about it and Sunday one guy knocked at my door it was a venture capitalist called from Mayfield fund or Mark Levin who's now all known into the venture community he said I wanted to accompany with you I didn't know what he was talking about but anyhow four years after we didn't IPO or the Nasdaq and that's really have learned you know from a faculty standpoint how to do this and then I came back in 92 here in this country you know and I thought this exciting thing and I was working does an Hospital of the shoe it's not another company and then my god it was difficult to convince our colleague rector nobody knew what we were doing I was put on a trial literally one day because I was doing something strange called a startup and and really and the primary objective was my colleague was to know you know how much money I was gonna make personally so anyhow to make a long story short you know we did an IPO on the Swiss stock market and it was very difficult so so you know and now I look at it and then I became president of EPFL in 2000 and you know I remember at the time looking at the numbers it was 2 to 3 million investment per year in in startups and those last couple years it has always been over 100 million and we've reached 400 million I think 300 million last year so and I think I agree with you know the amount of venture capital invested in companies a good criteria to look at how much the intensity of your activity and what has changed first the people and I think the stews I do remember also when I start as a present and you know the class say who wanna make a company I had two or three hands brave people and the last year was friends when I stepped down in 2060 about a third of the people lives of their hand which mean that culturally this has checked and you know and and and this is a key thing now we're still we have a long way to go compared to the standards and so on and if you look at maybe we'll talk later what is missing the ideas as good as and we see the rankings and the RCS you know we are at par in Europe we produce as much top research than our colleagues in the States so it's not a black of good scientist money is around it was not around a couple years ago so the venture money and so on I've created now I stepped down my own fund we've raised three million in in less than a year so you can do I'm chairing the ramadas venture fund which is a 1 billion fund so you know money is around there's nothing what are we missing Rose is they're entrepreneurs today it's people that how to grow the companies so today the problem in in Europe did switzer its the postdoc of Professor X with some time people could grow but the majority done in Stanford in Boston you have people that have done it they've done an IPO they've done in the NMA they've done a lot of those things so you'd rather give you a company in the hands that people don't know and I think that's what so there's route there I think there is a solution to that is to bring back their typical that's what we did at EPFL from a faculty I recruit a couple of T effective from Stanford from MIT and so on the typical European that want to come back and I think what we have to do is a returnee program for all the entrepreneurs the people have been in the Silicon Valley and Boston they've had gone into into the you know they've done they've they've developed a calamity they didn't live here it's on they left they're ready and I think we have to attract them back so I think that a lot of other things how can we attract them back you know Europe is not a bad place to live and Switzerland is okay so and Lake Geneva is even better you know I was hunting in the top US school to try to bring back because I wouldn't say thing you know I was at I was at Brown I was offered and out yet MIT it's something you know I was missing goat cheese or anything like this you know Providence Rhode Island is not the you know it's wonderful Brown but in a terminal city it may be a little bit different sampling scope rights okay so but but you know if you could with Nebraska whatsoever you know it's less attractive so I think this kind of European lifestyle and so on you know when you have kids mid-age you say do you want them to become an American but you want to come back a lot of us at least from the Swiss is a great thing but even if you're Greek if you're Italian if you're Stanford it's difficult to go back to you know nothing against the Italian University but there are very few places in Europe where you could come back if you're in the top schools and I think both you know ETH Zurich EPFL you know seems Geneva Zurich and so on but also the max blankets are there very few places but Switzerland I'm not talking about Israel which is a totally different ecosystem but but but I think it's a fantastic place to get people back so we were able to do it on the faculty what we need to do is to do it on the enterpreneur so we need to set up this returnee program for entrepreneurs oh thank you not one what elements from the Silicon Valley or Israel could or should inspire most for the Swiss in the innovation ecosystem is there any elements which are more important you think than others I think both situations show the strengths of ecosystems now obviously does the history is quite different you know in in the second Valley there was a sort of co-creation of an ecosystem between academia enterpreneurs and that's exactly what what Patrick's was mentioning we need to to be able to recreate or to engineer this kind of connivance of wanting to work together and and this is a big challenge especially in the in in the domain of medical and health and biotech where a lot of the innovators have positions in universities or in hospitals they have ideas but don't know or don't want to leave their positions to become entrepreneurs and so one of the ideas that is currently being trialed with the with the genius set up here in Geneva is trying to mix and/or to match entrepreneurs with innovators that who bring the idea but are not a variable or willing or able to bring it to a level where it can actually be valued so this this really is a articulation between entrepreneurship and innovation in academia in the hospitals is something that obviously we can learn from from the success that you're that you're mentioning be what what I learned from from from device Minh and the tiara approach is that even though you're missing large biotech or pharma industry you are able to be extremely innovative through excellence through using information technology and also making use and I think that that's one of the strengths of the ecosystem of available data that comes from the Health System that's something that we definitely need to learn how to do we are trying to do this now with the electronic patient record and setting up infrastructures where we can actually value this this data and use it as a way to learn as a way to innovate so those are two lessons that I just learned from your presentation and thank you Thank You Patrick would you like to add something you know a viral Silicon Valley and of course yeah enough new fun we're based in Woodside the other one is now at EPFL and it's very interesting again to compare so it's true you know but you know Stanford is the ultimate it's the best you know certainly in this system I will say we say United States and I hear I said again I have nothing but Nebraska but if you do Braska even though you know there are very few places when you take out the Boston and the Bay Area the United States is not a very great place to be a couple of other areas in New York it's not but if you're talking about biotech even ninety it's it's so so we always compare ourselves to something which is you know the bear is about Switzerland as a whole and it concentrates all those people that come so this is something that we have to keep in mind in size wise and so on so we talked about the a climatic you know we're barely 1 million people living here so it's quite remarkable already what is present I think what we have to do is to choose the air the way we think we can you know make a difference and and you know I take in biotech certainly life size it's also I know the the Israel system quite well and and you know and I'm there about you know the startup nation just one number you know it's about the venture amount invested Israel's about five million if I'd been in a year and Switzer there's 1 billion and we have a similar population about eight million so now Israel has all this high-tech about ten percent but then they're lacking yeah you know as you were saying in the life science you don't have the Giants because even in Silicon Valley they offered they had no bars and extremely well because they're looking to be bought by the US you know des Roches and the Novartis and the Nestle is in food and so on we have those giants which this is something an asset that we have we have great university we have very good you know something very important with the undervalue which is not again the in Israel the the high-tech SMEs you know in switching is one of the most powerful thing that we have but we were we had great university but we were missing this link okay but I think you know we're catching up quite well in quite rapidly so I would say I'm very optimistic about the future of this country compared to where we were 20 years or 30 years ago when Unitec was created I remember those discussion we were in the Stone Age but here we are you know 20 or 30 years after you know we shouldn't be ashamed of what we do that we still have a lot of things to be to learn we have a couple of structural problems compared I think one thing is the exit strategy so it's okay for M&A s but if you want to go an IPO this is not only Swiss problem it's a European problem you know the Nasdaq is still the place to go it's very complicated you know some of our companies at EPFL went on the Nasdaq but you know it is a different issue you know if you're not part of the the ecosystem and so on so I think exit strategy is something that we have to work on urine eggs and those kind of you know small stock seeds are you don't know we don't have the kind of buyers that you like to have we may save a little bit of the large vendor groups I think a lot of our VCS were too small in the tens of millions when you need to the hundreds of million if you go to live sites but the asset that we have for example have the pharma know the buyers but if you want if you have those CEOs you also need to have people that can build the company you know the working bees and there are lots of them in Basel in left in life sites or even if you go I have to be careful what I'm saying that's because I have a lot of conflict of interest there but being a board member of Nestle lanza you know nest if you want to go there's a lot of working bees in Nestle that can be part of those startups in in food and so on so those kind of thing we have I think when a terrific situation I think we still have a couple of structural issues about stock taxation and so on but those are not that the important but they're big fixed but again it's this guy strikes me when I go to where I'm in Silicon Valley you know they have great ideas but they know how to sell it you know stay over sell so for example in our veggie phone I cut 50% of what the Americans say and I add 10% of what the Swiss say and I get a good mixture you know because they have an us you know we have but with two Swiss we don't know the promise we don't like we'd rather you know do you say 100 do you say I'm gonna deliver 80 but I know that can deliver 120 and the Americans if it the opposite you know and and Israeli are closer to the Americans to the Swiss so I think we have to learn to be a little more you know aggressive and the other thing is you know we should what is missing here is say this you're gonna make it a great you're gonna make big people ten because of the conflict we see a lot of the EPFL startup are great but they bought too early they acquired okay I did a 3 X 4 X ok so so but you haven't we still have a couple of here but saying I'm gonna change the world you know I'm gonna make this company and so well that's a question of culture I mean yet the same thing for everything I mean it's not the show but this is where I think when I see the interpreters in the US the way they sell and so on is is you know much more confident we're a bit shy entrepreneurs a litte bit shy and I think you know we have to have this kind of confidence big fix partially because we have a lot of foreign students and that's the most important we see a lot of in our startups it's often the foreigners that have the kind of ability to do it so I think that's why it's so important to keep the you know our country open of course yes now a question to all with a global village and globalization and everything do you think that the different innovation ecosystems will be more and more similar and will tend to be identical or the opposite do you think that they will keep their own specificities perhaps marry and kill of course and that's actually a really interesting question because because I am in Silicon Valley and we have very strong personalities and we oversell I'm not sure how open people in Silicon Valley are to be different than they are today they're going to have to change they can't sustain things the way well maybe they can I think that they're definitely one thing that might happen is right now the VC really like to invest in local companies and I'm thinking that over time they'll be less likely to restrict themselves that way so in that sense I mean the Bay Area is already overcrowded and there's no place to live so they're gonna have to do something so I think that'll be one way that they'll look to the outside to other places to try and affect the cultures you know the micro the ecosystem there by investing in other places thank you again it's a kind of a philosophic question should we want them to be the same and I think we don't want them and I don't think they grow to be the same so it's a kind of a evolution process that is being for each ecosystem so if you look at the Boston area you can see definitely the way that it evolved is compared to other areas like the bay area or the New York effort now to build an ecosystem in the life science so I think the ecosystems are uniquely to their areas it's good to look around and understand what people are doing what's the Russian now how you can implement it in your own environment but I don't believe they will be the same way I really don't think so and it's good think so too yeah I agree and and you have to find where you have a competitive advantage so I think for Switzerland it's certainly all the life science because we have those big players certainly in pharma in the food but also in the mid tech I think in life science we'll see more and more convergence of those technologies and you know there's something about the Swiss DNA we're good at doing small things complex and reliable and I think when you look at you know brain implant those kind of thing that needs really this kind of thing this corresponds really to our DNA so I think that's one of the area that I think we can be very competitive the other one is not Swiss and even though it's Switzerland I think well this is my latest pet project which is the art so I think there's a new area in our tech culture we have all those robots and so on I think we will have to nurture our brain and I think we'll have to entertain our brain and and I think there if you were on this crazy project Levin is time machine so I always said you know you know Venice is unique you know San Antonio is not the same as Venice even though they call it the Bannister the US so the culture is something very much so we see a lot of startups relate the culture being in Paris in Balham in Berlin and so on so I think an error like this would be something quite specific for Europe so I think again you will see the way we do it and I think it's important that we have each our own a culture ecosystem but also the area and I think for certain I'm not saying that the other ones are not but certainly the lifesigns is a very obvious one we should do it the FinTech where we don't do as much but you know we'll never be like Israel in terms of the ICT and security and cyber because the context people live this is survival so you know you look at the impact of the army even also in the States at DARPA the Swiss Army is okay but what do you think and if if further switzerland as patrick said which specially three with specificities should we develop here or insists more well i think there are different setups in switzerland i think clearly in the manic in the Lamonica region the domain of health tech biotech and health IT is definitely one of the one of the key domains where we should be investing for for many reasons in terms of concentration of of stakeholders whether it's companies it's the edema it's the large hospitals it's an aging population it's you know lots of good reasons to actually invest in in this domain and then there are other domains of excellence icy-pop socialism and the you know all the other quantum computing and Quantic technologies i think are linked with as panik said the ability to create micro electronics and and quality things the only thing the army has produced probably the Swiss Army knife but there are lots of our examples of very fine mechanics and very fine devices that also connected to the health domain and probably further east of Switzerland we we have more of the FinTech of the crypto things that probably will play an interesting role as well but as we said you know ecosystems are are quite local not only in their in the India culture but also in the politics involved just like natural ecosystems just like the great Barrier Reef is very sensitive to global warming or as the you know Amazon ecosystem very different but very sensitive to deforestation we need to be very careful also on how we can make those ecosystems grow and sustain and it's not just a question of culture I think it's not just a question of money it's also a question of politics of visionary leaders and and support thank you we are lucky enough to have Switzerland's United States and Israel the three top ranking us as we saw previously here but we can see that there are new and emerging ecosystems in Europe and in other place but in Europe like Bucharest please from Italian so what do you think do you think that this new ecosystem will be more and more competing with the traditional one what's what's your opinion on that you know would like to marry again everybody know I think if the difference between European states you have more concentration in the United States it's very clear that the Bay Area you know the Boston area in New York in Europe you'll have smaller but most dispersed it's the same way for universities and so on so you have smaller hubs but that we need to connect so you do will not have only three hubs you know because the French will want to have one so you know the German Italian would want to have one and so so so but I think the key thing there will be aggregated around the top university business as it was very well said by Mary it's you know at the end it's its top universities that attract those blessed place if you don't have in same thing in Israel if you don't have world-class research university you don't have at least in deep tech which is you know there are a lot of different startups and so on if you're talking deep tech this is very clearly so when you look at Europe there are less places you know certainly the UK can switzerland on your israel and your as part of the european system you know when you look at the ER sees it's very clear i think nine out of the top ten universities that attract emoji are CR the British sua so Israeli so so it says a lot about you know the capacity to attract those because at the end you know the discoveries and then the really disruptive discoveries are happening in top universities like it or not okay that's where you you gather the best brains and the most innovative brains so the most important thing if you are but yeah you know if your particle it's very much difficult because you know you the first thing you would have to build a world-class research university and there are very few places that have the means to do it and the capacity to do it and I think that's why so you will see even in France you look culture has said but the other thing which France does extremely well is now anything which is ready to AI and so on why because France has a various from school of mathematics so you know it and it's why probably so I think it's intimately related to the quality of the place and that's where you know Switzerland Israel as small countries a different issue but it's less likely that you will see a hub in Louisiana then you're gonna see in California you know as as simple as that so I think the ability to develop world-class is the must first and most important then the rest comes and that's why at the end you have to support basic research and if a country doesn't support basic researchers University evil and have it but as Mary said you know there's a fantastic book on Stanford called cold war University exactly a describing and and it's amazing that our list gives example Stanford was rather as you saying a regional university until the 50s and this president is Provost changed you know and they went that they they also I accept a DARPA money and so on which totally changed the game and I think this is you know certainly those Stanford's got lots amount of money there was no by the way there were huge debates at the time from the faculty if you should accept DARPA money and so on that was at the heart of of Silicon Valley so I think you know the most importantly and that's where I'm very impressed with Israel because you know in the context of Israel when you you look there to be able to build those world-class research university and said the veidt's man but if you look at Tel Aviv but the Hebrew the the veidt's man you know it's not it's amazing and again this is reflected by the capacity to attract the best and the brightest yeah just to add to and I think you're right I mean the fact that we as a small nation attract try to get the best people back we put a lot of effort as you said in recruiting back or getting back bright people that went abroad and try and get them to Israel so that's in the academic level you're right and that's part of the excellence of the Weitzman in the last ten ten years we've recruited more than 100 new new staff members the Weitzman doesn't grow I mean we keep 250 principal investigators so new bright people most of them had postdoc positions in top universities and could be accepted to the top universities in the United States and then they they chose to come back to Israel and to the Weitzman just because we were able to provide the infrastructure and support to get them back so the brainpower is crucial and we face the problem of the environment that we live in and the fact that Israel is not such a nice place to live like probably like Switzerland so that's that's that's also a barrier for attracting top talent for the academia so we had to we have really have to focus on our own community to bring up these kind of talents thank you what one would you like to add something the competition of new hubs an innovation ecosystem well I think it's inevitable that there are multiple hubs or multiple ecosystems and that they will compete in some ways I think one of the issues is not only excellent but also getting the critical mass and this requires probably geographical proximity and actually not only geographical in terms of kilometers but sometimes much less than this and I think this is a place where this has been experimented bringing to different universities in the same place and I think we're starting to see how it's actually creating new synergies new possibilities so I believe that the place itself is going to be something very important to connect people at the level of people and not just you know sending emails or doing video conferences so places will remain places there will be many and then some will go up some will go down I think we've talked about the factors that are essential to their success but I truly believe of of bringing people together in the same room or very nearby so that it becomes natural to to enable serendipity creating new ideas that you don't have if you're planning to meet someone remotely so so those kind of things need to be to be architected to be engineered so you all of you think that localization will still be as important as before even with the digitalization and all this globalization so I mean place is important localization is still yes cafeteria is still the great place to be you know you need you know you could do a lot of virtual descent at the end it's your colleagues it's bumping into your colleagues randomly it's the graduate students it's the kind of you know socialization that you have around something I still think and that's where where those things happen on the campuses and that's why you know I was very envious about the top US school that have those campuses you know we didn't have them in Europe and and I think we'd have to bring them to you know that's what we'd ever tried to vote but if you fellow but here in this building I remember you know trying to buy back the building for mixer or no putting the University and the EPFL together the same building it's not but I think this is essential because you know then the engineer physicist whatever met with the you know the barges the empties and so on so I think Craig those physical traces are still despite all those technology is still very important and thanks god it's good to just to be physically and you know so I think but again the places are very important now we will not have a hundreds of places and that's my worry even for sorts of them the non-swiss you know that to ETH Zurich but there's a huge competition between both of them okay but it's true that Zurich is a great place to be so we have to be careful and we have to to work together but at the same time there's a level of competition I think it was very important for this part of the country the Frenchman trade part to have this kind of drive and I think now it's respected now we have to learn how to work with our jury colleagues and also our Basel colleagues with well you know certainly if you a biotech Pharma Basel is a key place so I think you know we have if I always give you that one you give it you know if you take out the Alps and the Syrah and just there you know it's about the size of Silicon Valley when you go to San Jose's what's it it's open now I think since Whitsun we have to go from regional which is the Atlantic to a Swiss level and I think this is gonna be the next place for us to create a hub in Europe there will not be a thousand of those but I think if we could get asura colleague to work with us I think now we have the respect because the statistics show that there's as much if not more VC money being put in the equipment in theory but the next time a competition is not Zurich you know I think now it's the time to go and work together because if you put the power you know ETH is a good school there's no doubt you know it has great faculty you have great capabilities so now we're at the level that we were able to do this between the University which is not bad you know I think we really work well with University of Chile patents are nice time to to reach to our Swiss German colleagues thank you given Mary what do you think about localization will it be still as important okay I think that what we see is center of excellence actually not competing only but also collaborating so you can see I mean Silicon Valley a lot of Israel is going back to to the Israeli to Silicon Valley and back to Israel so you can see communication between such centers of excellence in the Boston area also plays a great role model for us and back forth so I think talking globally and properly you have to to concentrate on on Switzerland to get everyone together but I think on a global scale you'll see competition but also collaboration between this center of excellence and because they naturally they they're going to communicate and think together how they can improve so that's that's my two cents yeah I don't know that they're I don't think that there's the competition necessarily it just depends on what your ecosystem is like and in trying to for us trying to compete with somebody in another ecosystem doesn't really happen it doesn't really make sense I think that it will get easier to do things on a global level though I agree that you need to be located that you can't do everything by video call but I think that there is going to be more flexibility I could be wrong on this for people to actually move because it might they might decide that the things that are going on in Israel are very important and what they want to do and there is competition amongst obviously companies and things in our area they might decide to come to Switzerland because you know there's snow yeah so I think there's not necessarily competition but I think there will be a lot more I think moving around thank you well no one would like to say something about that well I I think globalization enhanced the ability to collaborate at larger larger distances and and larger bandwidth and that's one aspect and the other is the creativity the that requires co-construction and collective intelligence and that probably still requires some some concentration and and physical proximity so I think we we need to understand how we can use both in order to create those those creative and and you know sizeable ecosystem that can make a difference so so I think we will you know it's this glocalization kind of a kind of thing you know think local work local but but in in a in a globalized world well we've got still a few minutes so I'd like to open the discussion to the public who would like to ask the first question yes today's so please if you can just give your name and quite to be as short as possible so that we've got a chance to hear from Geneva this distinguished panel did not mention a word about Asia where do you globalized research thank you would like to answer first that's it's clear that Asia is in several universities very interesting you see the Chinese going up but in mass but not yet you know to the quality of the top but they it's only question time no doubt what you've seen from an academic point poor academic standpoint it's more the small country certainly Singapore has been able to create a couple of you know world-class research university Korea karez probably the most impressive so you will see a couple now in terms of the VC investment it's very interesting because a lot of the Chinese now come into the market a lot of the u.s. in fact and that's gonna be very interesting to see what is happening with this new administration a lot of the LPS for example even of the big fund is Chinese money and what will happen here is it's just fascinating to know if they're going to maintain or changed they doing some quite big investment in in in China per say for example the the top funded Singapore now has shifted their investment towards China so so there's no doubt that this is happening and that's going to be a major shift now son I think it's paradoxically they're more advanced in the financial component but then they are because it takes a little more time to build you know top university you don't decrease like this that you're gonna make it but certainly this will happen and I think of course China is the number one the other country are doing well and small but you know to for example the Singapore they've done it in life signs I have to be careful because I'm on the advisory board of the prime minister of Singapore for life sides but it's it's they've tried to Pharma and they didn't realize how complex it is to do the pharma so they withdrawing a little bit but they're gonna go more into medtech it's off so there will be some adaptation but it's clear that that some of those will be but again it's gonna be related to the quality of the institution that they've been to create and I think it's gonna thanks for us we may have to know maybe at best 20 years until China until the the the the job Tong the the Ching hua and so on will be at the level of our top universities I think the East is is certainly a challenge and an opportunity also and we've been looking into China for a few years always going back and forth we've seen changes there I mean the fact that the Chinese market is is I mean five years ago they there were a really non innovative approach they they they were trying to do me to drugs or something like that but not more than that and we see now more and more companies which are really true innovative companies so I think they're getting there and I agree that it's a cultural change that needs to take part higher education needs to catch up but definitely I think we shouldn't stay I mean off guard and we probably should look into China and and and collaborate because China is going to be very strong component in the future for sure and not to mention also India which is also a very very interesting country in terms of the quality of science in some in some areas and the ability to really grow things their mentalities is a challenge always in this country so we're still puzzled I mean where will go my CFO is just returning now from from China looking into some opportunities and we haven't made the decision or the strategic decision to really put a footprint in China which is a big big step for us to really think of I could really only agree with two of the points that were made one is that the in China they've become a lot more innovative that was one of the big things we didn't really see years ago and the other that in a lot of the countries getting higher quality research is going to be important and as you said that's happening in some countries already but in our interactions are fairly minimal still with countries Indonesia well the University of Geneva has signed a pretty ambitious collaboration with the ching-kuo University and and that's really a learning experience in many dimensions and clearly we we can learn from each other we have now summer schools and students from China coming to work staying several months working with our students we now also have our students going – – Chinua University I think that's the only way we can make progress is really by knowing each other knowing the differences but also learning learning and and I think we we really need to increase these kind of partnerships as a way to to widen our understanding of the evolution of the world thank you very much from you and unluckily I think we have to leave the floor so thank you again and of course afterwards you will be able to ask every question you want when we will drink something so I think you saw you know everybody here so you can ask them questions as we have to leave the floor thank you very much and the hall thank you thank you very much for this discussion and there will be more time after for the aperitif it's time before finishing off a very important element of this conference is to also award the best or the most promising invention that we found in 2018 and also the most impactful spin-off so we have four awards we would like to show give tonight and we will start with the most impactful spin-off and I would like before we call the first awardee to just send a video for the first award thank you no immune success story is very exciting for Unitec for several reasons first Novi moon was created in 1998 the same years even attack and it was one of the very first licenses negotiated by unit tech so it holds a special place in the heart of Unitec and then Novi moon stayed very very close to the University of Geneva for the past 20 years recruiting much of its staff out of the university labs and having many interactions and collaborations with university researchers so we were thrilled by the huge amount of expertise that nothing really has built and the number of jobs that it has created locally here in Geneva and then of course nova moon is special in that it has is the first University of Geneva spin-off that has had a drug approved by the FDA so another immune is a great role model for our spin-offs and we hope that many will follow in its tracks nothing was founded by Professor Bernard mark based on his research in immunology that he conducted at the University of Geneva Medical School for over 20 years so the goal of the company was to transform this knowledge into something useful for patients specifically into drugs for immune related and inflammatory diseases like through a building monoclonal antibodies we were always been very close to the University of Geneva so in our first years even geographically because we were located just across the street from the Geneva University Hospital and then later on when we had to move to Clara why because space constraints we continued to be very close to the University of Geneva through numerous collaborations with different people and different groups and this ongoing working relationship with the University of Geneva continues to be very important for us even today in Ithaca City nympho histiocytosis or HLH is a disorder of immune regulation where one's own immune cells become over activated and attack attacks one's own body organs inducing damage a form of HOH primary or familial HLH often occurs in young very young children and if left untreated is fatal interferon gamma is a potent cytokine of immune cell activation has been shown to be involved in hlh a map a map is a blocking interferon gamma antibody which was developed for the treatment of primary hlh the three clinical and translational studies performed anomaly mean validated the use of a Nepali map in primary hlh and an innovative clinical trial design allowed for the approval of imipenem odd by the FDA in 2018 for the treatment of primary hlh in indeed as of January 1st 2019 in a poly mode now known as gamma fence is commercialized in the u.s. for the treatment of HIV in order to discover antibody therapeutic antibodies just as a map hari mob we've been using over the years quite a number of technologies we also work quite hard to develop our own technologies to make better antibodies but I think it's really nice that we also been able to transfer some of these technologies to the University of Geneva so that scientists can use them for their own research in more recent years we've been focusing on the nerd-off one of by specific antibodies or by specific antibody is able to engage two different targets with the two different arms so that it opens up novel therapeutic modalities novel options for patients and to be honest we're quite excited about it official from the women to receive the most impactful spin-off price [Applause] so I think Nicola and I we go along very far and I'm very glad to see that no even did such a good job so do you want to say a few words just so I mean obviously it's been a it's a great time for Unitec and we burn more modest at the same time so it's also a special time for for another immune you know many ups and downs many you know derive of every startup as soon as you heard was very special for us it's been able to bring a molecule from the intellectual conception all the way to discovery to clinical trials manufacturing everything that goes wrong to bring you're actually now a therapy for patient for fatal disease so obviously very proud of it we're celebrating that we had also many you know number of failures it's difficult to make drugs and now we're really moving towards you know what kind of an egg duration format which by specific and you know I'm not sure it shows really in the video but actually we're really excited about these possibilities to make this by specific antibodies so well you know I mean like you know we separate this prize as well so thank you very much for this recognition for the help over the years thank you thank you very much the Quran thank you know the moon [Applause] and we'll have a second spin-off most impactful place and video the long-lasting relationship between ID the long-lasting relationship between ID contig and the university of geneva started in 2001 when initech received the first invention disclosure from the researchers from there a license agreement was put in place which was the beginning of this long-lasting and high-quality relationship between the two organizations the quality of the relationship comes mainly from the people people at a Ducati we have interacted with from the beginning of the company when it was created and later on new people who came always with the willingness to communicate to exchange and be transparent the consequence of that is that we were able to draft deals which really correspond to the needs of the company and that had both organization to follow these deals in a very efficient way so we are very happy today to celebrate or twenty years together with id kontiki looking forward to a continued collaboration for many years to come I di Quantic is a spinoff from the group of Applied Physics of the University of Geneva founded in 2001 it developed products based on quantum photonics the science of ultra weak light the company benefited from the very pragmatic and efficient support from uni tech at its beginnings and it now employs about a hundred employees in Geneva in the UK in the US and in South Korea we have two fields of activities the first one being quantum sensing where we develop measurement devices that exploit the quantum property properties of light one example of such application is the system we've developed for Airbus in order to test the ignition system of the Ariane six European launcher which will go live in July 2012 so I recon six-second activity is in quantum safe cybersecurity where we sell cybersecurity products to governments and enterprises worldwide notably quantum cryptography which protects data communications between multiple points against future attacks by a quantum computer and quantum random number generation which produces randomness which is at the basis of all security products the government market is a particularly interesting one we also sell into finance into companies with large intellectual property portfolios who need to protect their data in the long term into critical infrastructure etc and in the next 10 years as we celebrate unit X 30th anniversary we hope that ID Quantic will still be the leader in quantum state security communications with a global presence and thousands of employees please welcome CEO of IDI county Gregoire Abadi [Applause] so Clara also was one of the first spin-off of Unitec and University of Geneva and also Nikolas designs here is a long-lasting board member of initech so it's a big pleasure so for me to to see also the very positive development of Vedic antique and it's it's a huge I think achievement that you've been able to do and if you want to say a few words or so thank you Aloha maybe yes so actually so you know quantum technologies as hard thing you know when you observe it as you saw with the video you change it and it disappears so for us you know it's been tough it's been interesting I think we started too early in terms of technology loja I'm sure you saw this you didn't tell us we let us try but we managed to survive to be agile and to find a way to to where we are now also thanks to the collaboration with the University of Geneva and the pragmatic approach of lunatak so I think now it's really exciting what's happening in quantum technologies we're very well positioned to grow further and you know remain one of the leaders in this field and I would like to say finally that what was said in the panel I agree that the Swiss ecosystem has changed a lot over the past 20 years there is now you know money there's there are role models examples one thing that I think where Switzerland must still improve a little bit is in growth capital I think it's still it's easy to find you know seed money the first few Millions but it's still tough for an entrepreneur to go for and find the 10 15 20 million that is needed to scale the company and go global and I hope that you know in 10 years when you do your next anniversary we can say that this problem is solved thank you thank you very much Wow it's a pleasure to see the excellence also of developing such a very complex system so now we go to the second type of awards we thought it's also important not only to look back but also to look forward and so we have two awards for the most promising 2018 inventions and I'd like to send also the first movie about the first of these two most promising invention hours initech has been collaborating with Ospital for more than 16 years to valorize innovation innovation at the hospital is a very specific because most of the employees have the capacity to identify the medical need and find a solution the solution developed by olivier Niccolo at the CMU is a result of a very good collaboration between fundamental research at the Faculty of Medicine and the clinic at the hospital to develop a medical device so this project has been supported by Unitec and financed by inner cap which is the proof-of-concept funding of the university and the hospital if this technology works it would be one with what we call an innovation from bench to bedside so a chronic warrant is a one that doesn't heal in a proper amount of time chronic wounds is a very serious medical situation and is associated with a chronic pain and sometimes require even some extreme surgical Arts such as amputation so a chronic wound develops in several pathological condition we can think about diabetes or Danis insufficiency and represent a real problem because of our aging population and the presence of this disease so chronic wound are also relatively frequent and are associated with increase with the real economic and social burden we can think that in the hospital we have around the 500 a patient that in need were here to be treated for chronic world care and in the United we can estimate that the 4.5 million people are affected by chronic world a subtype of stem cells present in our body represent an attractive tool for the treatment of chronic ones these cells has the advantage to produce a large amount of healing factors based on these cells we have decided to produce a patch that will combine different components the first component will be a sponge that is biocompatible with the patient's we have introduced the cells with stem cells within the sponge to produce a patch secreting the sweetie didn't factors and we plan now in collaboration with the hospital to test dispatch directly in patients please welcome Olivier panis or and nicaraguan BIA and I'd like to also say that part of the innovations that are coming through our office resulting of a collaboration between the University and the hospital of Geneva and I think this is a very good example and I we found very interesting also the proximity not only of an academic center but also of a center of excellence with clinicians and patients and I think this was also very promising for us to see such a proximity I don't know if you want to add a little things also thank you very much for the the prize and thank you very much so to Unitec for the very interesting and nice discussions and the support force thank starting runs for us and it's the very holy beginning so let's work now a lot yeah so I won't just to hide that you know we are very proud of this price actually and then we hope like so in 10 years to be here maybe with the other type of prize and sorry we get to the last but not the least of this most promising invention 2018 please send the video the collaboration between the tech transfer office Unitec and Hansel Gaiman and his team started in the early days of the office with an invention pertaining to an inner inorganic material allowing to produce discharge lamps which need did not need mercury which was a big progress at that time the more recent inventions from Hans's lab were the fruit of collaborations collaborations with empar mainly but also with industries we enjoy working with hands a lot we look forward to having this flow of inventions continuing to come in your office and we most of all look forward to having his inventions benefiting the society at large our invention has to do with the development of the next generation of batteries which will be needed for emerging markets such as the electric vehicles or the storage of renewable energies and for these new batteries we need to store more energy in an even smaller volume for example to drive your car for more kilometers and in the current current battery technology one of the component is a liquid the electrolyte and this liquid is also quite flammable so the battery requires several layers and also sealing components that add weight to the battery and if we could replace that liquid by a solid we could reduce the weight and make and pack more energy in the same volume and less weight but making this solid electrolyte is quite challenging and with our invention we can prepare such solid using first solvent and then drying it to prepare the electrolyte which makes the then the Assembly of the battery a lot easier so compared to the previous method to prepare the electrolyte where we needed to we were using mechanical milling to mix the precursor which could lead to some impurities and was also quite time-consuming we can now use a much cleaner solvent and does get a cleaner product in less time this research project is the result of a combined research led by four different research groups at University of Geneva the Empire in diamond office psi and Milligan and the Academy of Science in Poland so we combine both fundamental theoretical and practical aspects to realize new battery materials focusing on new materials for solid-state battery applications in Geneva we concentrate on more fundamental studies while in tempered you burned off they are specializing in general on battery technology and realized prototypes with the materials we can synthesize here in Geneva the improvement which we have achieved with the patent is in fact to solubilize our new electrolyte sodium conducting material in order to improve the contact between this material and the electrode for an improved efficiency and reproducibility of future sodium batteries please welcome Hans Agra man and neo douche and I just cannot resist now a small anecdote with the Hunsaker man when I started 20 years ago I was working also we hands spin who was a professor with you and the first one of the first invention was a mercury-free neo lamp it was mentioned by Matias in the video and the first way we could attract some interested party to actually discuss about Licensing's this invention was actually to go on radio and to just give a description on a very general radio and the person was actually driving and they contacted us so it shows that we have to be Pro kind of creative also to find ways of finding a partnership but I like also to to say and you said there is a very good collaboration between the University of Geneva and Empire and I think it's also why Lyon is here and is on the video because it shows the importance of cooperation i think patrick said it's very important to look at Switzerland as a small village in terms of collaboration and be stronger together and you are a good example if you want to add something on that I sure yes well with respect to collaboration with Empire well we had a couple of years ago another patent together with Empire and another small company which is located in joyful up in cells so even farther away from Geneva so the hard part of being a geneva partner is that we have always to go there instead of their camps I'm coming to Geneva so anyhow I appreciate very much the collaboration with Unitec because over the years this thing has been much more simplified because now I just phone but yes and then I say I have an idea and then he say ok let's meet and discuss thank you very much thank you congratulation again so we are running a few minutes late I will be very short there is one person I'd like to thank it's Constance Malaya she's still here and I wanted to just thank Constance Mary who was really the person behind all this organization to just benefit from this very unique element of the innovation ecosystem so please connect could you please come here and we're gonna Pablo it's a lot of work and the she did it beautifully so thank you very much I won't have time to go beyond just thanking you all to be coming tonight there is a aperitif that's going to be served just outside when you exceed the building before you exit stop by the aperitif and we will be happy to continue talking together so thank you very much and have a good evening you [Applause] you

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