Tag Archives: Texas MSTC Program

How the MSTC works with your MBA

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By Rod Lee CSU MBA ‘13/UTexas MSTC ‘17

I know a lot of people have considered the MSTC program, but have asked the question: “Why do I need this business degree if I already have a MBA?” Well, since we are past the halfway point in the program, I can now make an honest depiction of my MBA experience, my MSTC (to this point), and how they can complement one another. I started my MBA a year after I finished my bachelor’s degree, while still serving in the Air Force with the intent of learning business practices to start my own venture. However, what I learned was how to go about doing business in a variety of climates and in fully-functioning corporations. I learned a lot about global economies/markets, business law, operating a business, etc.

In the MSTC program we’ve learned how to go out and gauge technology value and whether or not it has a feasible business opportunity. That is something that I don’t think many get the opportunity to learn or even knew existed if they do not come from this world. My eyes were opened to a new way of becoming an entrepreneur. I always thought I would have to create something new and innovative or an improved version of something popular. While that is a portion of the MSTC, the first thing we learn about is true tech commercialization and how to make money off of others’ ideas (which sounds a lot easier than it is). From the ‘Quicklooks’ process, to building a marketing plan, to new venture creation…I feel like I’ve learned so much pertinent information that can be used in my current job as well as venturing off on my own. My MBA gave me a lot of insight and ideas of how run my business, while I feel the MSTC gave more background on how to get to that point.

Now I am not saying one is dependent upon the other or that it is necessary to have both. I am just stating that they both have takeaways that complement the other, especially if a new venture is what you are looking to pursue. I’m not sure that there is an order in which you should do them if you decide to pursue both, that really depends on your entrepreneurial spirit I guess. I know that I feel my order has worked best for me. My MBA has helped me advance quickly through my industry in the last three years, from product line rep to a Sr. Product Line Manager. Now that I have my experience, I feel that the MSTC will assist me in going out and starting a business with confidence.

My MBA colleagues ask me about the MSTC program and why I would go towards another Master’s program rather than pursuing a doctorate. I give them a tidbit of information and they are instantly drawn to wanting to apply or at least attend an info session. Many of my associates have shown interest in the MSTC now more than before. I really feel like the MBA/MSTC combo gives me an all-encompassing view of the business world and how these huge corporations that started in garages came to be. My friend and I were talking intensely about the UT EMBA program that is taught in Dallas down the street from our old office, since it was conveniently located and I felt a better in with the McCombs name to it compared to my previous MBA. After being in the MSTC program a week, I knew I was in the right place and that the 195 mile drive down to Austin would be well worth it. HOOK ‘EM!

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Rod Lee is a graduate of the MSTC Class of 2017. He is an accomplished Product Manager, with proven leadership and supervisory skills in the operations, flight line, and back shop environments. He is currently managing parts procurement, trading, sales and people in numerous capacities.

SmartCities: Economic Development with Innovation

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The following is an excerpt from a Mexican National Journal written by a Javier Cabrero an MSTC Alumni. You can find the full report here. 

SmartCities: Economic Development with Innovation

Javier Salvador Cabrero

The present study constitutes a Personal Application Project (PAP) designed as an
economic development plan based on entrepreneurship for the municipality of San Luis Potosí. This plan was developed using the experience acquired in the GeT-In program in Germany to propose a model that consists of two phases:

1) Diagnosis,

2) Implementation.

Its importance lies in laying the foundations  to make San Luis Potosí an intelligent entrepreneurial ecosystem.

Initially, an analysis of the economic and social needs of the metropolis is proposed, to generate a support system for entrepreneurs and local Potosina companies, and with that guarantee the incorporation of innovation processes and commercialization of the products and services that are offered in regional and international markets.

What benefits does the project generate? Positive and measurable economic and social impacts are expected for the people of San Luis Potosí, such as: reducing the unemployment rate, reducing talent leaks and promoting San Luis internationally as a fruitful destination for innovation and business development.  

Objective of the Personal Application Project (PAP)

The present personal application project (PAP) was created within the framework of the Professionalization of Transfer and Innovation Managers (GeT-In) program. It consists of an economic development plan based on entrepreneurship, for San Luis Potosí and some neighboring municipalities.

The main objective of the Municipal Economic Development Plan is to achieve the economic development of the city of San Luis Potosí through measurable impact both economically and socially, using the strategies of commercialization of science and technology perfected with the Contributions from the GeTIn program, which was verified in Germany.

The creation of this plan was requested by representatives of the Ministry of Development Office of San Luis Potosí to the Marketing Coordination of the Knowledge Transfer Office of the Potosino Institute of Scientific and Technological Research (IPICYT) in mid-2015.

Activities in the context of PAP

San Luis Potosí is a metropolis with little more than one million inhabitants, has conurbation zones, a very convenient geographical position in the center of Mexico, as well as a semi-desert climate.

In San Luis Potosí there are just over 54 thousand economic units. According to the National Statistical Directory of Economic Units (DENUE, 2016), economic units are understood to be commercial or physical persons in the area.  Of these, 35% are registered as economic units with 0 to 5 employees and dedicated to retail trade. The high concentration of microenterprises and entrepreneurs in San Luis Potosí is an indicator of the industrious activity in the area.

San Luis Potosi has important research centers. One of them, IPICYT, manages five lines of research focused on the exact sciences: molecular biology, environmental sciences, applied geosciences, applied mathematics, and advanced materials. It also has four national laboratories: The National Supercomputing Center (CNS), the National Laboratory of Agricultural, Medical and Environmental Biotechnology (Lanbama), and the National Laboratory of Nanoscience and Nanotechnology Research (Linan); As well as the new Research, Innovation and Development Center for the Dry Areas (CIIDZA), which recently opened at the end of last year. Today, more than 60% of IPICYT’s annual budget comes from own resources generated by the link with the companies.

On the one hand, the agents that make up the entrepreneurial ecosystem of Potosi are made up of business chambers, civil associations, Incubators, accelerators, universities and research centers; all driven by public policies and resources that have been operating together to promote innovation and economic development in San Luis Potosí for several decades. On the other hand, key pieces are lacking for the optimal functioning of the entrepreneurial ecosystem such resources such as investors, private capital groups, a greater culture of entrepreneurship and innovation and other sufficient specialized human resources to facilitate the process of innovation in companies and Potosino entrepreneurs.

In addition to the primary and secondary research acquired for the realization of the project, networks are also being created with companies, academia and industry experts to generate the best economic development strategies and policies that seek to follow the established guidelines for Smart cities. The work has required constant negotiations between the stakeholders and the work we did on the communication and networking issues during the GeT-In program have proven to be valuable tools for further development of the project as the it progresses to a standstill.

Thanks to the GeT-In program, we were able to meet again with Dr. Blanca García (The Northern Border College), an expert on knowledge society issues at the last Smart City Expo Puebla. We had the opportunity to exchange experiences and collaborate on the inclusion of San Luis Potosí in the K-City Benchmarking survey of the World Capital Institute.

…..Continued in Reporte CESOP No. 98 “Derechos Sociales en México”

The Winning Pitch: How Team Flipped Health Nailed the TVL Investment Competition

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By Pitch Academy

We’re excited to announce that on February 5, 2015, our very own Flipped Health won the 2015 Texas Venture Labs Investment Competition!

Read on to find out what set Flipped Health’s pitch apart from the other teams to come out as champions with a $5,000 check…

On the 32nd anniversary of TVLIC, more than 20 startup companies pitched their business plans to a panel of some of the most notable venture capital investors and entrepreneurs in the industry, including partners from Austin Technology Incubator (ATI), Bunker Incubator, and PuraVida Ventures.

So, what set the winning team apart?

They told a story.

It was more than a presentation. It was an engaging story that followed a sequence. The most captivating stories always start off with a carefully crafted beginning – and this story was no exception!

Think you know what your beginning slide should look like? Think again. In order to reel the investors in, the very first slide began with the story of The Broken Vaccine Cold Chain. Contrast that title with the title of the original first slide they began with, The Dry Vaccine Process – does this get you excited about team Flipped Health and their solution?

This is the traditional beginning slide that most teams start off with, where the first words out of a speaker’s mouth are “Hello everyone, we are Team X…” effectively losing the audience, and likely, their chances at winning a chunk of cash.

But Flipped Health isn’t your average team, and neither is the solution they were trying to sell – after an overhaul by yours truly, the first slide in the deck started the story off with a bang:

We coached them to jump in with a relatable anecdote, emphasizing the “what is” to describe the current landscape with a personal example that all of the judges could identify with. After 30 gripping seconds, the speaker emphatically reinforced what the audience was now beginning to understand: “This is a scary and expensive problem.” After setting the baseline of “what is”, they moved on to describe “What could be” – their solution.

AriVax, a drug delivery platform that improves vaccine stability, reduces vaccine wastage, and enables delivery to emerging markets that can’t meet temperature-controlled supply chain (cold chain) requirements.

It was jargon-free.

One of the biggest mistakes made by high-tech teams is acting like they are presenting to other people who are deeply embedded in their respective industry – not investors who probably don’t know the first thing about vaccines and the issues surrounding the cold chain process. The visuals didn’t just get a makeover – the words did, too. Moral of the story? Lose the jargon, NOW.

They connected to the audience with a metaphor.

Here’s where the tried and true STAR method, comes in: drive a big idea home by giving the audience members Something They’ll Always Remember. We came up with a way to communicate the ease of the AriVax solution that shifted the momentum of the pitch and got a laugh from all of the investors… AriVax is easy as Kool-Aid!

Seamless transitions.

It may seem small, but every single speaker clearly announced topic shifts throughout the presentation. This served to make the overall pitch absolutely seamless.

By taking care to verbalize the movement to the next major part of the story, “I will now hand it off to Jason, who will explain the current need in the global market…”, Cheryl ensured that the judges would have no questions about where one topic began and ended.

Confident answers to every question.

With a total of 15-20 questions asked by investors, the presentation was comparable to an investigation. Investors probed into areas like cost breakdown, use case validation, alternative solutions to the one they were proposing, and valuation; at every turn, a team member was prepared with an analytical + emotive answer.

Straightforward slides.

We can’t stress how important it is to have clean, aesthetically appealing slides that communicate the key points – and only the key points. Flipped Health’s slides were strategically placed, easy to follow, and served to enhance the overall message.

All of the above strategies helped Flipped Health come out of the Texas Venture Labs Investment Competition with the 1st place spot, an automatic entry to Global TVLIC, a 1 year launch package at Austin Technology Incubator, and this giant check:

Congratulations again, Flipped Health!

The above points are some of the key aspects of Flipped Health’s pitch that propelled them to first place. We had a blast getting to coach this stellar team to success, and we hope the points we’ve described here will help you and your team achieve the results you want to see. Remember, it’s all about selling yourself AND your ideas, and you can count on us to keep you up-to-date with the latest communication insights and analysis on modern pitching strategies.

Find out how The Pitch Academy’s coaches can customize our innovative approach to get your ideas sold and your team funded – contact Melissa today!

Building a Better Band-Aid

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Originally posted by Andrew Faught on McCombs Today

Every year, nearly 750,000 tendon repair procedures are performed in the United States, most of them without precautions to prevent excessive scar tissue formation, which can cause chronic pain in patients.

John Joyoprayitno, MSTC '13, in suit and tieBut not if John Joyoprayitno, MSTC ’13, has his way. The co-founder and chief operating officer of Austin-based Alafair Biosciences is working to commercialize a natural membrane that could minimize adhesions by acting as an “internal Band-Aid” on surgical wounds.

“You basically cover the wound, let it heal, and then the membrane degrades and resorbs back into the body,” Joyoprayitno says. “It allows the body to do what it’s supposed to do, and it prevents excessive scarring.”

Adhesion-related complications, which can force doctors to re-operate, create a $3.45 billion annual health care burden in the United States, he adds.

Joyoprayitno’s membrane (which hasn’t been given a name yet) was developed at The University of Texas at Austin, which licenses and has part ownership in it. The film, made of naturally occurring sugar molecules, will be submitted for review by the Food and Drug Administration and could be available to doctors in late 2016.

Plans to bring the technology to market for tendon repair took root while Joyoprayitno was a student in the McCombs School of Business’s one-year M.S. in Technology Commercialization (MSTC) program, which targets aspiring entrepreneurs who want to launch new ventures based on emerging technologies. The membrane already has been issued two patents, and it’s received four other provisional patents.

Since it was founded in 2011, Alafair has grabbed the notice of state policymakers. In May, Gov. Rick Perry announced that the company was the recipient of a $2 million award from the Texas Emerging Technology Fund(TETF).

The TETF is a $485 million fund created by the Texas Legislature in 2005 at the governor’s request, and reauthorized in 2007, 2009, 2011, and 2013. A 17-member advisory committee of high-tech leaders, entrepreneurs, and research experts reviews potential projects and recommends funding allocations to the governor, lieutenant governor, and speaker of the house.

In the past, too many good ideas were leaving Texas because of a lack of investor savvy, says MSTC director Gary Cadenhead. To date, TETF has allocated more than $250 million in funds to 87 biotech ventures. The impact is palpable: the state reports that in 2009, the biotechnology industry had a $75 billion economic influence in Texas.

The same study found that for every biotechnology job created, 2.3 additional jobs are generated, which fuels the Texas economy.

“It’s one of the really good things that the state of Texas has done — giving money to firms that are in the critical area, when it’s probably a little too early for venture capitalists,” Cadenhead says. “It bridges that gap between what friends and family can put up, before big money comes in.” Continue reading on McCombs Today.

For Joyoprayitno, who once considered enrolling in medical school but instead opted to become an entrepreneur (he’s also co-owner of the Austin Speed Shop, a car restoration business), the TETF grant will allow Alafair to grow and expand its employee base.

The company isn’t the only player in the membrane business. Other products exist, but they’re often made with collagen, which is expensive and has questionable efficacy, Joyoprayitno says. Doctors also have complained that other membranes are difficult to work with because they lack flexibility.

“Our product will have better handling characteristics,” says Joyoprayitno, who notes the Alafair membrane can be changed on demand from a flexible membrane to a mucous-like consistency that causes it to stick to the wound. “It allows the surgeon to place it more accurately.”

For now, all efforts are on successfully commercializing the membrane, which goes well beyond simply having a great idea.

“It takes organization, hard work, and wearing all of the hats,” Joyoprayitno says. “You’ve got to figure out what needs to happen and make it happen. Everybody uses the saying, ‘drinking from a fire hose.’ You really have to be able to handle that.”

Cadenhead, for one, likes Joyoprayitno’s chances for hitting a biotech bonanza: “I think he’s got a winner.”