Page 11 - Technology and Innovation Journal - 19-1

Technology and Innovation, Vol. 19, pp. 349-362, 2017 ISSN 1949-8241 • E-ISSN 1949-825X
Printed in the USA. All rights reserved. http://dx.doi.org/10.21300/19.1.2017.349
Copyright © 2017 National Academy of Inventors. www.technologyandinnovation.org

UNIVERSITY TECHNOLOGY ACCELERATORS:
DESIGN CONSIDERATIONS AND EMERGING BEST PRACTICES

Julia Byrd , Orin Herskowitz 1,2,3 , Jim Aloise , Andrea Nye , Satish Rao , and Katherine Reuther 4,5
1
4,5
2,3
1,2
PowerBridgeNY, New York, NY, USA
1
2 Columbia Technology Ventures, Columbia University, New York, NY, USA
3 NYC Media Lab Combine, New York, NY, USA
4 Department of Biomedical Engineering, Columbia University, New York, NY, USA
5 Columbia-Coulter Translational Research Partnership, New York, NY, USA

This article reviews some of the lessons learned by Columbia University in five years of managing
or co-managing proof-of-concept center accelerators for grant-funded technologies in three
industries: medical devices, diagnostics, and imaging; clean energy; and media. Each of these
accelerators is described in terms of objectives, strategies, tactics, and organizational structure,
with the commonalities and differences across the accelerators discussed in some detail. Based
on these commonalities, the article identifies some common key decision points to be addressed
and “best practices” to be employed by other universities looking to launch accelerators of their
own. Given the increasing proliferation of such accelerators at other institutions, the authors
propose establishing a forum for ongoing discussion and best practice sharing in the future.

Key words: Accelerators; Entrepreneurship; Technology commercialization; Proof-of-concept;
Valley of Death

INTRODUCTION: WHY WRITE THIS ARTICLE? commercialization of university-originated intellec-
Over the past five years, Columbia University has tual property (IP). By applying similar strategies and
launched accelerator and proof-of-concept center tactics to different fields, each fledgling program was
programs, which bridge the gap between discovery able to modify previous models to meet the needs of
and technology development, in diverse industries: another industry, with ensuing lessons flowing back
medical technologies (Columbia-Coulter Trans- to the other programs in a positive feedback loop.
lational Research Partnership), clean technology As the suite of Columbia programs grew, we began
& energy (PowerBridgeNY), digital media (NYC to recognize that there are both common elements of
Media Lab Combine), and now in therapeutics as technology accelerators as well as elements that need
well. Each has built on the lessons and successes of the to be adapted to best fit the specific dynamics within
other programs, with the end goal of accelerating the different industries. For example, NYC Media Lab
_____________________
Accepted April 15, 2017.
Address correspondence to Orin Herskowitz, Executive Director, Columbia Technology Ventures, 80 Claremont Ave. 4 Floor, New York, NY 10027, USA.
th
Tel: +1 (212) 854-1242; E-mail: orin-herskowitz@columbia.edu

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