VIC Technology Venture Development identifies the best new technologies available for license from top research institutions across the world. We select the technologies that provide the largest commercial opportunities and highest societal impacts. VIC forms new companies to commercialize the selected technologies.
Our growing portfolio of companies are managed by successful business executives and funded through VIC’s investor network. VIC portfolio companies are improving healthcare through better diagnosis and treatment of disease while simultaneously reducing healthcare costs. While VIC’s main focus is on forming healthcare related companies, we also have founded companies in high impact areas such as clean water, food safety, and automotive crash safety.
VIC has built a complete venture development ecosystem to navigate the challenges and realize the enormous commercial potential of technologies derived from the over $120 billion R&D investment made each year into universities and federal research facilities in the United States. VIC is headquartered in Fayetteville, Arkansas and has branch offices across the U.S. Each branch office has technology focus areas and works closely with top research institutions in its region. The Arkansas headquarters provides turn-key support at low cost to all branches including accounting, human resources, marketing and communications, scientific and engineering, and technical writing. The branch offices house experienced executive level team members that serve as the interim CEO’s for new portfolio companies in their region. VIC is increasing its rate of formation of new portfolio companies and tightening its focus on healthcare related opportunities. By 2020, VIC will be forming ten high impact healthcare technology companies each year.
Portfolio Company Development
Typically, technologies from universities and federal research labs fail to reach the point of being sufficiently developed to attract large company or investment interest. Market barriers are significant. Deep technical expertise and specialized business expertise is required. Current commercialization approaches tend to be fragmented (for example, professors try to lead spin-outs on a part-time basis). All the elements needed for success are rarely pulled together from the beginning. Technical, competitive, and financial risk may be substantial without the proper expertise to skillfully manage technologies through the commercialization process.
VIC has built an efficient business model and ecosystem for technology commercialization. All VIC portfolio companies begin with strong intellectual property (IP) foundations. VIC’s internal opportunity assessment team screens about 1,500 technologies per year. Only those that pass through VIC’s rigorous opportunity assessment process – which includes market research, patent analysis, competitive intelligence, and strategy development – are selected to be the foundation for a new VIC portfolio company. VIC’s branch offices build relationships with key IP centers and lead new companies through their early development phases.
Each new VIC portfolio company receives a $250,000 seed investment from VIC’s investor network. This investment allows the new company to establish proof-of-concept and position itself for follow-on investment. The next investment round is raised from a combination of VIC’s investment network and outside sources such as large company partners who may be future acquirers of the given company.