HomeMy WebLinkAbout12/02/1997, L R 1 - EVC/RESEARCH PARK PROJECT Mr' "ING AGENDA
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December 1, 1997
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MEMORANDUM ❑�'I r
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TO: Council Colleagues G<ERI%/ORIG ❑POLICE CHF
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FROM: Council Member Dodie Williams E,YD PERS DIR
SUBJECT: EVC/Research Park Project
On Monday,November 17, I met with a group to tour the University of Utah Research
Park facility and meet with key people involved in that project.
The San Luis Obispo team was comprised of Allen Haile, Cal Poly; Bob Schiebelhut,
local attorney; Gregg Goodwin,EVC Executive Director, and myself. Two Bechtel
employees, Rick Barrett and Paul Stirm, also accompanied us. The Bechtel
representatives were there seeking information for the feasibility study they will be
writing to determine whether a research park is appropriate for Cal Poly and San Luis
Obispo. As a reminder, we had a brief discussion last month regarding this study, which
was commissioned by Cal Poly and the EVC.
Our morning began at 9:00 a.m.,with a visit to a venture capital firm that has assisted
many small companies with start-up capital and has seen them grow and become viable.
Discussion centered on how local start-ups can attract venture capital, and what investors
expect in return. The two principals were.Dick Shanaman(SunStar Associates, Inc.) and
Jim Dreyfus. Both have been involved in Utah Ventures, a long-standing venture capital
firm.
Dr. Charles Evans, executive director of Research Park, and a former associate of mine,
filled us in on both current and potential park tenants and gave us a brief history of the
park. His lengthy tenure of over 20 years gives him an exceptional background and
insight on how and why the U. of U. Research Park has been so successful. He
recommended viewing a park as a long-term project. U. of U. Park started in 1968, and is
now between 60 and 70% full.
Dr. Ron Pugmire, U. of U. Associate Vice President of Research, who has been involved
since the research park was created, described for us many important factors involved in a
successful technology transfer program. Dr. Pugmire also heads Research Park's non-
profit foundation.
Brad Bertoch, President of the Wayne Brown Institute, discussed the role of the institute,
noting that their screening process gives them the ability to select good start-up
companies. Seventy percent of their efforts are directed toward raising capital.
Mr. Bertoch will be working with the EVC on the forthcoming venture capital conference
set for early 1998 in San Luis Obispo.
We also met with Dennis Farrar, a founder of several high tech firms; and Don Brown,
who is the owner of PartNet, Inc., an Internet company. Mr. Brown is the son of the late
Wayne Brown,who was the impetus for creation of Research Park.
Some key points to consider when contemplating development of a research park are
listed below(not necessarily in order of importance):
1) Must have an excellent technology transfer program (campus to private sector).
2) Location is critical—proximity to campus most important.
3) Need management with ability to select types of firms with potential (not all need to
be high tech).
a) Need venture capital availability.
5) Look at a parkas a very long-term project-15 to 30 years.
6) Need entrepreneurial professors.
In closing,this was a worthwhile trip for the team, in that we learned many of the do's
and don'ts of research parks. The Bechtel representatives gleaned significant information
from both the Utah and Virginia trips to aid them in completion of their study, which
should be in our hands by early 1998.
DW:ss
c: John Dunn
Ken Hampian
Diane Sheeley