University at Buffalo - The State University of New York

Published: August 25, 2005

By LORRAINE O.W. STINEBISER
Reporter Contributor

UB's Office of Science, Technology and Economic Outreach (STOR) and First Wave Technologies Inc., a technology-development company, have announced their proactive collaborative effort to expand the commercialization of early-stage university technologies utilizing private-sector resources.

"In our efforts to license university technologies, we find that established industries are often only interested in a technology if it has been fully proven in concept, prototypes developed, or drug and diagnostic trials started. Our technologies are not always at this advanced stage, but rather early in concept and testing," said Robert J. Genco, vice provost and director of STOR. "Partnering with First Wave allows for external funding to develop prototypes, technical and clinical studies, and to create business models that better position the technologies for licensing for commercial production or as a platform for a university start-up business."

STOR and First Wave will establish joint projects for selected university technologies where further development work is required to bring the product to market for the benefit of society. In this unique effort, First Wave will enter into a licensing agreement with UB to develop technologies. Projects will be funded by leveraging private financing, as well as public funding through the federal government's Small Business Innovation Research and Small Business Technology Transfer programs, and equivalent New York State programs, which are ideal for early technology development.

"We are very pleased to be working even more closely with STOR to provide these services for those early-stage technologies that can benefit from a joint project between UB and First Wave," said Brian Bell, president of First Wave Technologies. "Though not an exclusive agreement, we certainly believe this collaboration positions First Wave as a preferred commercialization partner for UB."

"This collaboration could increase the chances that many of UB's innovative technologies will be commercialized, and in the process potentially boost regional and state economic development through job and wealth creation," noted Genco.

First Wave will provide UB with another important partner that can advance the commercialization of its early-stage technologies, and help bridge the gap between laboratory research and commercialization. While UB will continue to work with other companies on developing its technologies, First Wave is a direct outgrowth of work between UB, the STOR Advisory Board and several local technology executives.

An early stage technology development company, First Wave received its initial funding from Moog Inc., Greatbatch Inc., NanoDynamics Inc., Erie County Industrial Development Agency and Buffalo Economic Renaissance Corporation, among others. For more information on First Wave Technologies, contact Brian Bell at 560-2203 or brian@firstwavetechnologies.com.

STOR is the primary commercialization and technology transfer office of UB. It identifies, protects and commercializes the outcomes and discoveries of research conducted at UB for the public good, and provides a continuum of business-development support for the university's technologies, entrepreneurs and start-up companies.