« Washington Engineer - October 2005
Students defy dreaded ‘valley of death’ in taking an idea from theory to practice
Though they walk through the Valley of Death, Siddhartha Sikdar, Ian Blanch and Leonard Teo will fear no evil.
The University of Washington students chalk up their confidence to lessons learned in a course, administered by the Department of Bioengineering, that focuses on leading students through the perilous path of taking an invention from theory to the real world – a path known in tech-transfer speak as “the valley of death.”
“This course has been invaluable,” said Sikdar, who with the other two students spent the summer in the Program on Technology Commercialization, or PTC, exploring challenges associated with funding, manufacturing and marketing a new product. The three-quarter course draws on real-world experts, featuring lectures by industry leaders, entrepreneurs and venture funders, and covers such topics as market analysis, business plans, venture capital, intellectual property, licensing and contracts.
“Now I look at my research in a whole new light,” Sikdar said.
The trio has a specific application for their new knowledge. They’re eagerly pursuing the commercial potential of an ultrasound device that can detect a coronary artery blockage by zeroing in on the unique vibrations associated with the hazardous condition, which is a leading cause of death.
Sikdar, a postdoctoral fellow in bioengineering who received his doctorate in electrical engineering last June, co-invented the technology and developed a working system with Professor Kirk Beach in the Department of Surgery and Professor Yongmin Kim, chair of the Department of Bioengineering. Blanch is a doctoral student in mechanical engineering interested in product design and entrepreneurship. Teo earned a bachelor’s in bioengineering in June and aspires to work at the nexus of business, engineering, and medicine.
The three were awarded paid summer fellowships to dive into the market analysis and funding required for a start-up venture for the ultrasound device. They presented a detailed business plan to PTC faculty, community mentors, and UW technology transfer officials. Their polished presentation drew praise, incisive questions, and suggestions for next steps.
The UW Tech Transfer office has already filed for patents, and the team hopes to launch a company within the coming year.
“The PTC has exceeded our educational expectations,” said Kim. “Students have seen what it takes to bring technology from the laboratory to the marketplace. It’s a win for the students and for the UW, and also for our community of instructors and industry partners.“