Contact: Dan Nonte, University Relations
(336) 334-4314
Posted 7-18-08
GREENSBORO, NC - UNCG and the North Carolina NanoAccelerator (NCNA) have signed an innovative agreement that is expected to create multiple new entrepreneurial companies. The agreement grants NCNA six months to exercise its right to license any new invention from UNCG’s Center for Research Excellence in Nanobiosciences (CREN).
NCNA was established in 2006 by Greensboro’s QuarTek Corp. to provide a “home” to new nano-based companies and shorten their path to commercial success by supplying infrastructure, essential services and technical support. The fledgling companies are able to focus on their scientific innovation while NCNA arranges for commercial partnership with firms that can sell the innovations through their existing channels.
The science and expertise in NCNA and the host firm QuarTek will significantly shorten the time needed for commercial success of resident firms. Meanwhile, UNCG will serve as both a partner and a resource, sharing in success via royalties while offering continued support and technical assistance.
Jerry McGuire, director of UNCG’s Office of Technology Transfer, said, “We are excited by this novel partnership with NCNA. It is the first option agreement ever signed by UNCG covering the fruits of innovation produced by a research center at the university. This is a major step for UNCG’s focus on entrepreneurial efforts coming from innovations on campus. We anticipate it will significantly shorten the time frame for finalizing future license agreements.”
Dr. Rosemary Wander, associate provost for research and public/private sector partnerships at UNCG, said, “This agreement is exciting and innovative. This is a major step for UNCG’s focus on job creation coming from research on campus.”
Dr. Yousef Haik, head of CREN, said, “I am especially pleased to see this partnership. This will serve as a conduit for nano-bioscience research collaboration between the relevant industry sectors and CREN. The best reward for my team will be the commercial success of our work. This will speed up that success.”
Dr. Reyad Sawafta, President of NCNA and host QuarTek, said, “We are pleased that UNCG recognized the value of the NC NanoAccelerator and the benefits of partnering with us. We are impressed by the science and innovations that are being generated in the new research center and have the utmost respect for Dr. Haik and his team. We are honored to be working closely with the university and the center.”
The Carnegie Foundation for the Advancement of Teaching has classified UNCG a research university with “high research activity.” Under the guidance of Chancellor Patricia A. Sullivan and Dr. Rosemary Wander, associate provost for research and public/private sector partnerships, UNCG has seen an increase in its research funding and in its efforts to commercialize the innovations resulting from the activities of its faculty, staff and students.
The Center for Research Excellence in Nanobiosciences was established in late 2006 by a grant from the state.
NCNA is the only organization of its kind in the country, its founders say. There are many “incubators,” but no organizations that will take a start-up from concept to commercial partnership and marketplace sales in return for modest equity, they say.
QuarTek Corp. was established in 2004 as the first North Carolina-based nanotechnology research company. Led by President and CEO Dr. Reyad Sawafta, QuarTek is located at 4180 Piedmont Parkway in Greensboro.
For more information, contact:
• Jerry McGuire, director of UNCG’s Office of Technology Transfer, (336) 256-1298, mcguirej@uncg.edu
• Dr. Reyad Sawafta, president of QuarTek, (336) 316-0088 x208, Rsawafta@quartekcorp.com
• Dixon Johnston, COO of the NC NanoAccelerator, (336) 316-0088 x206, dxdj@earthlink.net
