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a Negotiating an appropriate licensing agreement <br />OTD works with an inventor in choosing from one of 3 strategies: licensing to an established company, <br />formation of a UNC spinout company, or, if the innovation needs more time to develop, solicitation of <br />sponsored research from industry with an option for the partner company to eventually license the <br />innovation. The strategy chosen is based on several criteria, including the breadth of the intellectual <br />property, stage of development, and current investment climate. <br />OTD has enjoyed notable success. UNC currently holds 454 patents and 10 trademarks. In FY2009, 137 <br />inventions were disclosed, 20 patents were issued, and revenue achieved through licensing agreements <br />amounted to $3 million (Development, 2008). OTD launches 5 -10 companies each year . Companies <br />launched through OTD in recent years include those listed in Table 2. <br />Table 2: A selection of companies started from research at UNC <br />Company <br />Year Founded <br />Originating Department <br />Company Location <br />AI havax <br />1997 <br />Microbiology <br />RTP (2 locations) <br />Qual st <br />2001 <br />Pharmacy <br />Ralei h <br />InnerO tic <br />2002 <br />Computer Science <br />Hillsborough <br />Alg nomics <br />2005 <br />Dentistry <br />Chapel Hill <br />Invitrox <br />2005 <br />Medicine <br />RTP <br />The Director of OTD comments that many of UNC's emerging technologies tend to be therapeutic in <br />nature, resulting in a lengthened time -to- market because of clinical trials and FDA approvals. <br />Entrepreneurship Programs at the Kenan- Flagler School of Business <br />UNC - Chapel Hill was named the most entrepreneurial campus by Forbes Magazine in 2004. That year, <br />the University was one of eight pilot programs to receive 5 -year, multi - million dollar grants from The <br />Ewing Marion Kauffman Foundation to initiate campus -wide programs in entrepreneurship. This marked <br />the beginning of the Carolina Entrepreneurial Initiative. Programs within this umbrella initiative include the <br />following. <br />Launching the Venture <br />This program has launched more than 100 commercial and nonprofit ventures since its inception. The <br />series is made up of 4 half- semester classes lasting one academic year. Teams are comprised of a mix of <br />students, faculty, and staff. <br />SoftLaunch <br />This is a 6-week course fashioned similarly to Launching the Venture but offered to students in the <br />Executive MBA program. Twenty -one ventures were developed by teams enrolled in the 2009 SoftLaunch <br />program, including those listed in Table 3. A 2003 spinoff from the program is SpectraForce Technologies <br />Inc. with headquarters in Raleigh. In 2008, it was 17" on Triangle Business Journal's Fast50 list of the <br />fastest - growing private companies in the Triangle Region (Triangle Business Journal, 2008). <br />Table 3: Selection of companies from SoftLaunch 2009 <br />Company <br />Industry <br />Arbitrage Cycles <br />Custom Bicycle Maker <br />Authentica Tourism Services <br />Tailored Travel Services <br />Bab cakes <br />Bakery <br />33 Personal Interview with Cathy Innes, Director of the Office of Technology Development. November 10, 2009 <br />881Page <br />