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How to Commercialize University Research and Turn Academic Innovation into Real-World Impact : ep 7
28 Plays6 months ago
In this episode, we dive into the journey of commercializing university research, exploring the unique challenges and opportunities within Technology Transfer Offices (TTOs). We discuss why so many research projects struggle to reach the market, how TTOs can better support innovation, and what it takes to bridge the gap between academia and industry. Discover practical insights on turning ground-breaking ideas into impactful solutions, including how the PIPE platform helps connect researchers, investors, and industry experts. Whether you're an academic, investor, or start-up enthusiast, this episode offers valuable strategies for transforming research into real-world success.
This podcast is for informational and educational purposes only and does not constitute financial, legal, or investment advice. Views expressed are those of the hosts and guests and may not reflect those of the PIPE gDAO or its affiliates.
Investing in blockchain, DAOs, and tokenized university research involves significant risk. Do your own research and consult qualified professionals before making investment decisions.
PIPE gDAO makes no guarantees about the accuracy or completeness of information presented and is not liable for any losses arising from its use. This is not an offer or solicitation to buy or sell any financial product.
Hosts and guests may have financial interests in the projects discussed.
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Transcript
Introduction and Audience Engagement
00:00:00
Speaker
Welcome to another episode of Pyjal podcast. It is episode seven with you reading sleazy slimy and this guy. Hello, it's me Noodle. I'm back again. The favourite, the crowd favourite. That's what they've started calling me now. Yes, the crowd favourite because we have very extensive interaction here.
00:00:20
Speaker
You know, we're working this. But today we're reading a blog. Interestingly, interestingly enough. You what? Sorry, what? You what? We're reading a blog. Yeah. ah ho on that's I could. Not the website. But before that.
00:00:36
Speaker
Hey, listeners, we get it. Sometimes you've got questions and browsing through endless FAQs just isn't cutting it. I mean, we do have Discord and Telegram where you could ask us questions directly where we're responsive there, but maybe you want to hear a human interaction for something
Technology Transfer Offices: Overview and Challenges
00:00:52
Speaker
important. A lot of people value that, especially those who are ah you know, on the elder side. We get in the universities, there are older professors, so why not make it easy on yourself and give us a call? Yes, just pick up the phone and dial plus 44-016-1399-4283. From 9am to 8pm UK time,
00:01:16
Speaker
Monday to Friday. Whether it's a quick question, a bit of help you need, or you just want to chat with a real person, we're here for you. No robots, no runaround, just friendly folks ready to give you the answers you need and fast. So, next time you're stuck, remember this number. Plus 44, 0161, 399, 4283, available 9am to 8pm UK time, Monday to Friday. We're ready when you are.
00:01:42
Speaker
It's ah how the TTO fails the startup ecosystem. And before we go any further, TTO refers to transfer technology office. The easier way to understand this is to think that universities have smart people in them. I've already made this joke, but the people in universities are usually focused on academics. Academics are focused on academic academics. Imagine that.
00:02:09
Speaker
while ah the guys are the TTOs, they are generally responsible to bring those guys into the commercial world. So they're not just shutting in their laps and hoping that someday in the future, they will become famous. And you know, they also need to make money. Otherwise, they're not gonna live for too long. ah and that you're gonna You can survive on your savings maybe for a little bit. And it is, again, an article by Robert James Steele. Yes.
00:02:38
Speaker
Yeah, that guy. Have you met him? A couple of times. ah Understandable. It's a very new article, in fact. So now that we've ah and but we know what the DTO is, let's start the image above. Oh, I'm going to describe this image in fact. I am told that someone ah here even recognizes the image.
00:03:02
Speaker
Yes, this is this is a place I'm very familiar with because I know a lot of readers won't, or not readers, listeners will be able to see it.
Critique of TTOs and Investment Success Stories
00:03:12
Speaker
But it's it's um what it is is a kitchen counter ah with a iPad, a one of those Apple keyboards and a bunch of Post-it notes and a glass of orange juice. And this was taken in peak lockdown um And I recognize it very well because this is actually where I did my, um ah one of my coursework assignments for my criminology course that I took when I was doing my A levels in college. There's criminology in A levels? Well, damn. Oh, yeah. and never we knew that
00:03:49
Speaker
But apart from that, ah so I would like to say that in this image, the focus of the image is the iPad and the and the keyboard, which it kind of looks like a setup for a PC, but you know a very budget PC. ah That is the focus of the image. But also, I would just like to point out that there's a ton of post notes. That's how you know you are dealing with someone older.
00:04:12
Speaker
this ah I don't think I've ever seen anyone like ah in the like Gen Z actually have this many Post-it notes. I would maybe like use an A4 paper to write down everything, but Post-its, that is great. And the the other thing is, like behind the iPad, I see the original box of the iPad. Normally you would not keep those.
00:04:33
Speaker
But it's actually there. And of course, on the left side, you can hear, you can see a mask. That's how you know it's locked down because there's an actual mask there ready to go whenever it's the type of mask that, you know, has already been used for several weeks because of how worn it is. But yeah, that's, that's how you know that this is the peak lockdown by the use of old masks, because like you can keep buying masks like every day, you know, every use. Yeah, they got very expensive as well. PPE gear.
00:05:03
Speaker
And if you forget a mask, they are always willing to sell you at the gas station for one euro or one pound, I guess. But before that, have you actually heard of a certain logo designer that managed to turn $2,000 into $200,000? I have not. Please tell me more. Oh, well, his name is Dustin Moskowitz, a simple designer whose genius foresight in an early university startup, Facebook, changed his life.
00:05:30
Speaker
Yes, he designed the Facebook logo. And you can do this too by contributing to NASA technology startups from universities of today through PIPE Associate Network. Find out how you can get started today by going into the description, our link tree, and look for www.arbito.io. Yeah, now, do the actual blog.
00:05:54
Speaker
The image buff was taken on the 9th of October 2020, that is, at around 10 30 a.m. That is very precise. I bet you also remember the exact time you saw that. I do. Yeah, it was me who's at the picture. Oh, yeah, you can actually see that in the iPad, like the reflection, somebody is taking a photo.
00:06:18
Speaker
Oh my god, you can't go. You can also see a kettle over there. That's why it's a kitchen counter. And ah and ah a bin bag. It's a 10.30am during lockdown and this was my workstation, so Rob's workstation. Nothing more than an iPad, a keyboard and post-it notes in the kitchen.
00:06:39
Speaker
This was before the pipe QAD workflow was documented, before the concept of pipe platform was even fully understood, before any investment or even hint of investment, and even before ah he had onboarded a team properly. It was very, very early days, as a we know by Noodle's monologue there.
00:06:59
Speaker
Absolutely, it was very, very early days. um Obviously, what we've done though in the previous few months and years, it was the the main target was to spend time with who Rob believed was the target audience, understanding how they worked, what issues they had and how best a solution could evolve to address these issues.
00:07:22
Speaker
So at the time, ah there was the assumption that the target audience would be the university tap technology transfer offices, TTO for sure, and that we would be providing them with a valuable set of tools that they would sort of embrace and engage with. um Now, this isn't a
Systemic Issues in Research Commercialization
00:07:40
Speaker
naive assumption as it's quite clear to anyone who spent time at all within a university TTO or knowledge exchange group.
00:07:49
Speaker
that they had quite significant issues and really needed help. But obviously leading up to the time ah when the photograph was taken in 2020, Robert spent actually quite a significant amount of time meeting with the TTOs and learning about who they are, like how they worked, what their concerns were and how they functioned.
00:08:11
Speaker
ah spent time obviously speaking with universities across the UK, some in the EU and USA as well, um speaking to individuals who had a lot of TTO like deep experience, um people such as Tom Hockaday, who ah Rob spoke to around this time about the issues he saw and wrote about in relation to the TTO function. as David Dana at the European Investment Fund talking about the European Paradox which we actually covered all the way back in episode one, I believe.
00:08:47
Speaker
um and how a GP slash LP fund legacy structure was possibly missing a trick. um And we also went on to speak with those that we assumed would be competitors such as IP groups who had originally set out and tried to fix the TTO function through money, but had pivoted to something sort of less hands-on and more simple over time.
00:09:12
Speaker
um So obviously he knew this landscape and this is what we knew and sort of still know to be true. But before we continue, are you looking to invest in real world asset innovation at peace? Maybe one coming from a university? I'll have you know, they have an average ROI of 397%, aka X4. And did you know the likes of Gatorade and Google actually came out from universities?
00:09:38
Speaker
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00:10:02
Speaker
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00:10:33
Speaker
Yeah, and there's a a lot of bullet points. Let's go one by one. When there's a bullet, when there's like a list of bullet points in a block, you know it's important as like the highlight. ah Researchers and academics are often failed by the commercialization but process. Yeah, so we blame the commercialization process, not the academics here. 83% of R and&D slash IP, so research and development slash intellectual property, that ah has received grant money, often from taxation, because this thing genuinely tends to be a government initiative.
00:11:08
Speaker
ah is never seen outside of the lab. So just to re reiterate this. ah The 83% of, ah so first of all, there's a very rigorous process to actually establish whether a project should be funded or not. And when it is funded, 83% of those funded projects, they actually are never seen outside of the lab, probably because they're shut-ins and they don't want to go outside.
00:11:33
Speaker
Definitely not that that definite not for that reason, but 83% of them actually fail on an early stage after being funded. Because like there are several of them, and they are failing on the very early stage after being funded. That is a pretty ah horrible outcome. Second bullet point. TTOs are staffed by academics who are looking for a home. Not entrepreneurs looking to take on the world, and the churn rate is very high. So a lot of academic academics, they're not there for the money.
00:12:03
Speaker
They are actually there because they are having fun with it. We know that there's advancement of science and all that, but generally scientists are there because they love science. and they A lot of them would be fine with the coming to the science and and sharing it with their peers and to believe it or not. Of course, then there is ah but the glory of your investigations and stuff, ah but it generally doesn't involve the commercial side of things too often. And the churn rate is very high.
00:12:39
Speaker
I had no idea what churn is, I had to translate it, and funny enough, if you translate into Spanish and then back to English, it means abandonment rate. So that is easy to understand. The abandonment rate is high. three ttos travel at tectonic speeds In other words, very slowly, because tectonic plates move very slowly, if at all. When they do ah move, it usually leads to earthquakes.
00:13:04
Speaker
and are so badly misaligned with commercial reality as to be obstructive to positive outcomes. ah The usual misalignment between commercial and the university stuff. Universities use the TTO function to de-risk commercialization so as not to embarrass the university brand. they says dash This is critical, exclamation mark. I'm reading it like a teleprompter because I don't know how else to convey the meaning, but to reiterate this point as well, ah they are focusing on derisking rather than the positive outcome. In other words, if you can take on more risk and ah have potentially significantly higher reward, but a lot higher than the risk you are taking, they're not going to do that because the risk, the if the low risk is what's important, not the overall outcome in the long term.
00:14:02
Speaker
Next, universes and TTOs are fascinated by patents and believe that if something cannot be patented, then it is worthless. this We're actually going to elaborate on this point so further on as well. But yeah, just because something can be patented doesn't necessarily mean it's not going to be successful. And that's a limited factor for them.
00:14:23
Speaker
VCs have an unrealistic impression of what a research project actually looks like. Needs and evolves. What VCs are looking for rarely exists within a TTO. So VCs, they only know what they need to know, the financial. They can look at graphs, they can look at some early criteria, but ah They are also people like us, and a vast majority of situations, they're not going to understand the science that goes into universities and TTOs. So that lack of nuanced understanding is often ah quite a bottleneck. The most successful university spinouts are actually ripouts.
00:15:04
Speaker
where the researcher has got so tired of waiting for the US TTO to act, they just leave and get on with it themselves. A personal story, or rather not personal, but what I heard from someone from my university. He was like a year ahead of me. And the he did this thing with ah vi the TTO for his end of graduation project.
00:15:28
Speaker
And the he said, if I had known that, I would never do it again. And I don't recommend anyone to actually do it because I spent like half the time dealing with this. um with this excremente piece,
00:15:42
Speaker
yeah, that he would rather just do it the normal way that involves nothing to do with money and to just finish it in peace. So yeah, this can be quite a headache and it takes a lot of time as well as a lot of ah bureaucracy.
00:16:01
Speaker
universities and researchers value kudos. ah In other words, the glory and the ah but publication citation ah for you for your name to be known over market impact. a lot of so i would like I like to compare it to this. so Would you like to have a million dollars or would you like to be remembered after your death?
00:16:23
Speaker
well Different people will say will have different answers. I personally would take a million dollars. So i what's a ah how but I would not have to worry about money ever again, at least in my lifetime, and the then give a little bit of a you know leg up for the children. ah But other people might actually prefer to be remembered as a great scientist after their death. There's nothing wrong with that. But the point is,
00:16:50
Speaker
They overwhelmingly choose that option, ah the kudos over the money, aka market impact. Market impact is not just money. Actually, market impact can be a force for good as well, sort of like a change in the world for the better. And they believe the value of research is measured in academic terms, not commercial ones.
00:17:11
Speaker
ah dash. This is fair because this is actually their job. So yeah, Rob here agrees that there's something wrong with it and that is what they genuinely focus on. But that also means that the commercial site usually suffers. Did you know up to 45% of recruited talent database adornment This means 45% of your revenue is left on the table. Wow. I know, right? But but if you repurpose your talent database by redirecting them to nascent industry technology in high growth, you can share a portion of the high growth sweat equity too.
00:17:49
Speaker
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00:18:14
Speaker
Absolutely. and So as he was saying, sort of like,
Need for Systemic Changes in TTO Operations
00:18:21
Speaker
as of As he wrote this article, which would have been November this year, 2024, well, right now, pretty much. And after been doing this for four years, what we've come to sort of learn about our target market, the TTOs and university research, technology transfer, and knowledge exchange as well, they'd like to talk an awful, awful lot. I'd like can to yap. Big yappers, wafflers, as I'd call them. Especially if they're older.
00:18:51
Speaker
Oh, yeah. um They are in my rate of sort of conferences, workshops, discussion groups, lobbying groups, evolving frameworks, reports and recommend recommendations that the aspiring TTO officer can attend, whether driven by trade bodies such as ah Praxis or Oral, and or AUTM, or collaborative groups such as TENU, producing reports, recommendations and pseudo policies on how best universities can embrace technology transfers um and knowledge exchange. However, since we started looking into the function of the TTO back in 2012, before we spent time really understanding the issue and risks, or before we began the development of the pre-IPO exchange or the PIPE platform um and lab to IPO pathway in 2020, the same issue still affects
00:19:50
Speaker
the same sector and the same problems still exist. Regardless of all the talk, all the reports and all the meetings, the TTO function is failing the startup ecosystem and this is why. and This is why. Firstly, ah I'm just going to read it from Rob's point of view. Let me be clear, this is not the fault of individual TTOs or their officers. I was certain that the people joined the TTO for a good reason.
00:20:16
Speaker
yeah so ah ah just to make it clear. While the academics are usually there either to get their certification and leave, or they stay there and go for the academic success, those who are and joining the TTLs, they're never going to have their names published on any papers. They are there to do the commercial stuff. And then nobody cares who did the commercial stuff. So they are never going to get those this type of glory. So that is not the reason why they would do that.
00:20:49
Speaker
continuing in the same way a person chooses to become an MP, I think it means member of parliament or something, or a civil servant, they almost certainly do so because they believe they can facilitate change or at least function competently. So yeah, ah to yeah change the world for the better, or also to earn money. That's also not not everyone has such big aspirations. People rarely choose to take up this kind of roles for the kudos or the financial rewards.
00:21:18
Speaker
However, the TTO is almost always under-resourced, underfunded, and therefore must prioritize resources on a project by project basis. Yeah, because, well, I mean, it's ah it's a true of almost every budgeting and type of project. This is a process known as validation or valorization, and it's a critical first step in identifying the potential for impact of a particular research project.
00:21:44
Speaker
The problem here is you're asking someone who's almost certainly academic to form an opinion on an idea that may be outside of their technical scope, and for which they have limited, if any at all, commercial experience or exposure. yeah you Even those in in universities, like I did so a ah project on Web3 with the Ethereum testnet. The professors there, even though it was ah my university was a political university,
00:22:13
Speaker
They had no idea what I was talking about. They asked very surface-level questions. So ah even for them, it's difficult, much less to the guys who are not involved that much in academics at all. Therefore, the TTO employs known processes such as simple market research, IP searches, and known validation mechanisms. So yeah, it's It's like the VCs, they usually just look at graphs that they are very familiar with to judge by the criteria that they know.
00:22:46
Speaker
they are rarely going to be able to understand anything nuanced. And I don't have an answer to how we could go around that. These are carried out locally, internally, or on occasion, externally using third parties consultants and or systems at a cost. And yeah, third party consultants that can work, but that is very much limited because the consultants are also there just to do their job and leave.
00:23:14
Speaker
This validation activity is carried out within every TTO, and many have different ways of appraising a project. Yeah, so every TTO is different, and every TTO is going to have their own preferred way of doing it.
00:23:27
Speaker
For example, some DTOs prioritize idealization that has an opportunity for patents. So as we've said before, a lot of DTOs are obsessed with patents. If there is no patent, there is no project. Others prioritize projects from a certain profile of researcher or from a particular sector. So they have favorites, essentially. Some validate projects based on who their funding partners are and what they know will appeal to them.
00:23:55
Speaker
this has a number of downside issues. But first, did you know that even top companies like Coinbase struggle with talent retention, averaging just about 0.8 years, so under one year. Web3 faces a big problem with unqualified applicants, some scammers, overall CV spammers, leading to short-term hires. Applications like passion, they are misaligned with the project ethos. This disconnect reduces long-term commitment to missions and goals. Well, Arbito fixes this. Arbito is a limited membership web3 jobs platform that combines AI tools, vetting, and job management tools, as well as a third-party ad boosts. We are maximizing the number of eyeballs on your job post. Join today by going to our link tree in the description and look for arbito.io.
00:24:42
Speaker
So obviously number one is ideation that does not meet local TTO validation metrics. um And I'm not considered viable. And number two, ideation that cannot or should not be patented at this stage lose out.
00:24:59
Speaker
um Number three,
Validation Challenges and TRL Limitations
00:25:00
Speaker
ideation from inexperienced or young researchers assume more risk and are likely to pass master. um and Number four, ah validation is based on local metrics and understanding with little or no consideration to wider opportunity. And then of course, number five, the TTO is functioning in a bubble or a silo with little or no knowledge of what researchers at other the universities are doing.
00:25:27
Speaker
of what is really happening in the real world. and Interesting actually idea about idea ideation that should not be patented at this stage. In other words, maybe there's an idea that can be patented in the future, but because it's going to be patented now, they lose out. So yeah,
00:25:46
Speaker
it's also difficult for the TTO to get a handle on how an idea or innovation could evolve in a wider context. So funny enough, that's what I just said. This can be the negative effect ah technology readiness levels have on yeah TRLs. This is ah the negative effect TRLs could have on assessing early stage ideation, particularly in isolation.
00:26:10
Speaker
ah Yeah, so we cannot use one metric as end-all-be-all. This is because TRL is designed for products and systems within complex environments, and it's linear, one-dimensional, and a stage-by-stage, step-by-step process, assuming a project travels from TRL 1 to 2, and so so on and so forth to till TRL 9. And fun fact, if you go into pipe ecosystem, there is quite an extensive QED process, which is a lot a lot more rigorous and flexible rather than simply following a couple metrics from 1 to 9. The problem with this one-dimensional approach is that it leaves very little room for out-of-the-box stinking because the progress is TRL 1, 2, 3, 4, etc. So, as I said, in pipe,
00:26:58
Speaker
Just because you fail in one metric does not necessarily mean that you're going to fail later on because the review is a lot more flexible and that involves lecture of humans. and Well, not to say that TRL doesn't involve humans, but yeah I wouldn't know. In fact, the dev evolution of an idea is never linear.
00:27:16
Speaker
obviously, in the same way the development of a widget to solve a particular problem is. So what we have is under-resourced ex-academic with little or no knowledge of a specific technical sector, measuring ideation based on narrow, paragial needs, often using systematic KPIs that are not fit for purpose in isolation. This is why 83% of projects never see the light of day. And why the progress of ideation to implementation takes so, so long. Yeah, because they never leave their laps. Exactly. Exactly. And if they don't know how to sort of get projects off the ground, then well, projects are never going to get off the ground. This is a project really should go and touch some grass man.
00:28:04
Speaker
yeah for real go outside see your family great yeah see the light of day we facilitate people to actually see the light of day yeah get a tan man this is but this is only the very first commercialization step and before any decision to invest time and slash all money in a particular project has been made this step alone can take weeks or months given the way most tto's operate any tto reading this if they're honest, will recognize these issues and will realize that they operate in this manner to a greater or lesser extent. And that is because of this.
00:28:46
Speaker
They will prioritise projects that have a certain profile or perhaps easier to understand and align with their internal metrics or external partners. They will also recognise that even at this early stage, validation or valorisation can be an expensive process.
00:29:05
Speaker
This approach leaves a significant number of ideas without the support and input that they really need to evolve beyond an initial review. And this is where the TTO fails the startup ecosystem. And yet,
00:29:25
Speaker
TTOs are still doing the exact same thing. Over and over again, there's the occasional fiddling around the edges with some change to grants or process, but essentially the same issues are still present and still endure. There are still the same people attending the same conference trip conferences addressing the same problems and talking about the same shortcomings.
00:29:50
Speaker
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00:30:10
Speaker
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00:30:27
Speaker
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00:30:50
Speaker
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00:31:17
Speaker
So when we say it's time for a web-free revolution, we mean it. It really is time for a revolution. Yay. And it starts, ah well, maybe it doesn't start with us, but it continues with that at least. Yes. We help. We're here. Yeah. yeah Like that meme. I'm helping. Yeah, exactly. The difficulty here for the TTO
PIPE Platform: A New Hope for TTOs
00:31:40
Speaker
is in the scope of and breadth of disclosures.
00:31:46
Speaker
they could be exposed to and the stage each is at, the team they have and the ability for them to validate often complex ideas of all shapes, sizes, colors, increase on a global scale in a standard systematic and repeatable way that considers global opportunity and not just local capability capabilities. That is why we're not just in UK. We are also in EU and maybe ah we can at some point expand to Asia and the America.
00:32:15
Speaker
How can they give the required consideration to every disclosure at any stage, open up their profile portfolios to field experts, interesting parties, and in and investors whilst protecting IP? How can they do more with less, go faster, generate better outcomes, and do so without breaking the bank? Well, let's go back to 9th October 2020.
00:32:39
Speaker
When Rob was considering all of this, he knew from all the conversations so he was having that there need to be three key things that any system delivers. And that was the inspiration to come up with pipe.
00:32:52
Speaker
ah They are, one, the ability to validate any project from any subject matter, whether that be commercial, environmental, or societal in nature, and to provide a standard systematic and repeatable mechanism that allows for comparison across projects, universities, and geographies. In other words, a tool that can that is not limited by the usual ah basic factors of reviewing a project.
00:33:18
Speaker
to access to an energized, interested, and the committed group of experts. We are talking about ah pipe affiliates here who would utilize their lifelong experience of technology systems, business, commercial, et cetera, to provide empirical evidence.
00:33:35
Speaker
um empirical evidence. It's something I heard back in the rest days. I have no idea what it is anymore. As to a project's validation for management teams and collaborate with DTOs and founders to build out ideas into implementation. And three, patient timely and long-term capital for investment. that's so what That's why we have PGF here. ah To support the development pathway of a project from ideation to implementation. And beyond that,
00:34:18
Speaker
in the laps That's true. That is very true. yeah Although I think my stools were one legged with the with the but a spring that would go up and down. yeah Well, stool is also another word we use for excrement. Yeah. Yeah. So when I was like the free... Because um but obviously I used to do science a lot and it used to come up a lot. I was just like, hmm, stool.
00:34:44
Speaker
Why are you equating those two things? Like if you do science, it doesn't necessarily mean you that you work with this word. Yeah, but I died did. i did um I'm saying I did with one of my for one of my projects we had to.
00:34:56
Speaker
you know fun ah Funny enough, in like in Russian, it just means a chair. So yeah, I guess that was translated almost literally oh like way back in history. So those next three three things are referred to as the three-legged stool. And they are the trifecta of what has become the Py Platform and Lab2IPO pathway. And this system processes, methodology, and funding. Solution has been developed specifically to address the issues faced by TTOs, universities, and research groups, and to provide the revolution or change the sector needs. We believe that every idea has merit until it hasn't.
00:35:37
Speaker
every founder standing in their kitchen. It's personal experience, I guess, with Post-it notes and iPads deserves to be considered and deserves the opportunity to be seen by a global cohort of interested, engaged partners.
00:35:51
Speaker
Associates and investors. This is what PIPIS, it's a global marketplace for university derived R and&D slash IP. So research and development slash industrial property focused on funding, on finding, forming and funding all ideation supported by global web communities and industry experts so that we can collectively fix problems, improve solutions and maybe save the planet in the process.
00:36:14
Speaker
Well, we do have quite a lot of projects that have to do with ah sustainability and to refi, regenerate the finance. Absolutely, yes. PIPE is not just a VC, it's not just an incubator, is it's called a movement. And we believe in the power of research, academia, and the ability for us to turn even the earliest, most complex niche idea into an
Closing Thoughts and Call to Action
00:36:40
Speaker
implemented solution.
00:36:41
Speaker
We believe that we can help universities and TTO's enhance bolster and even usurp the startup ecosystem. Because we believe in the power of innovation, the power of people and the ability for them to come together and realize enormous impact. Yeah, fun fact about this usurp. A lot of people would recognize this word from Game of Thrones to usurp the throne. is Is that even how you pronounce it? Like I read the book. I don't know. I don't know how it's actually pronounced. What's this usurper?
00:37:12
Speaker
yeah yeah Yeah. Yes, they called that ah Robert Baratheon, the usurper. Yeah, and that's what we are going to do. We are going to usurp. We're going to turn Tarnaris Targaryen this. Well, maybe not if you if you choose the show. We're not going to burn everything down. We're going to rise everything up.
00:37:30
Speaker
and No, that's a, yeah, that's the dragon way that maybe we can do more of a Cersei. Well, that's also not a great idea. Yeah, she also blew up a lot of stuff. There was no good leaders in Game of Thrones, really. and who was Yeah, I guess not. Or maybe Jon Snow, you could argue, and Ned Stark, but okay, that anyway. To be fair, but neither of them were really, we'll get into this later. yeah yeah And ah if you want to keep talking to us about Game of Thrones, we would be happily obliged if you join us on our telegram and Discord to join us. We can have a lot of different conversations there. And we'll see you on the next episode.