By Michael Crowley Copyright 2019, All rights reserved
February 16, 2019
Today Professor Michael Crowley, JD, the co-founder of ATVentureCenter and US-China Center for Advanced Technology Creation, LLC (and RIT Research Professor for Innovation & Entrepreneuurship) and Mr. Sumin Cao, the President of JAISTC j formally announced that they had successfully reached a five (5) year agreement to jointly work to locate licensing partners seeking to commercialize advanced US technology, within the PRC market only, in exchange for prepaid royalties of between $1.5 - 5.0 million to be paid to early-stage US tech ventures working as clients of ATVC and the US-China Center. The agreement with JAISTC is exclusive to the two Rochester-based Centers operating in the Legacy Tower. (see - https://translate.google.com/translate?hl=en&sl=zh-CN&u=http://www.jaistc.com/en/content/%3F140.html&prev=search for additional information.
In order to further implement the innovation-driven development strategy and enhance the internationalization level of science and technology innovation in high-tech zones, incubators, new R&D institutions and high-tech enterprises in their province, JIASTC organized an innovation training group from April 15th to 29th, that went to New York, Washington, Phildadelphis, San Francisco and Los Angeles, representative cities of science and technology innovation in the United States for training and inspection activities. The members of this delegation come from the relevant high-tech enterprises in our province, the technology-based incubators in the high-tech zone, the venture capital institutions, and the new R&D institutions established by the Chinese Academy of Sciences and domestic famous universities in otheir province, totaling 19 people, and the head of the association, Cao Sumin, is the head of the delegation.
One of the main reasons for this trip was to determine where to locate the US Advanced Technology Venture Creation and Education Center as envisioned, and outlined, to JAISTC, the China Association of Science and Technology and the Chinese Ministry of Industry and Information Technology for Advanced Technology in Beijing, by Professor Crowley as a vehicle he designed to improve technology development and cooperation between the US and China. After visiting New York, Washington, DC, San Francisco (Silicon Valley) and Los Angles, President Cao determined that the best place to situate their US development partner's Venture Center would be in Professor Crowley's hometown - Rochster, NY.
(SEE PHOTOS of Professor Crowley signing the MOU with President Sumin Cao and Crowley training JAISTC.
President Cao wrote the following in a posting on the JAISTC website.
During New York, Professor Michael Crowley from the Saunders School of Business at Rochester Institute of Technology, from his own education and entrepreneurship, taught our delegation the state of the art principles of innovation and technology entrepreneurship in the United States, as well as the various ways US ventures raise capital from angels. crpwdfunding and VCs. Professor Crowley is not only a university professor but he is also a serial entrepreneur. He has founded 14 technology companies and is currently a consultant to many Chinese financial institutions, corporations, municipalities, provinces and government agencies. He is also the main sponsor of the China Center of RIT He trained our group on how our US and Chinese Centers would interact on an ongoing basis. He also introduced the general process of entrepreneurship in the United States and the conditions for entrepreneurial success.
After the lecture, Professor Michael Crowley and the training group interacted and signed a memorandum of understanding with President Cao Sumin on the future cooperation between Professor Crowley at Rochester Institute of Technology and Jiangsu International Science and Technology Cooperation Association. The areas of cooperation will cover talent training, vocational education, technology transfer, project docking, venture capital, and consulting services for both nation's venture companies to invest in each other's countries.
Prior to day long training meeting with Professor Crowley at Columbia University New York City, the delegation also received additional training from Dr. Shen Qi, co-director of the Information Technology Laboratory of Columbia University, gave lectures on artificial intelligence, virtual reality (VR) and augmented reality (AR), and experienced the latest products in their lab. Professor Shen is a postdoctoral fellow in electrical engineering and a computer science major at Columbia University.
On our visit to Phildelphis, the training group visited the University of Pennsylvania and accompanied by Professor Jianbo Shi from the Department of Engineering Computers of the School of Engineering to visit its robotics laboratory. The laboratory is mainly engaged in research on explosive joints. At the same time, we examined the new technology incubator PENNOVATION of Binda, focusing on the innovative products and operation mode of the incubator. The incubator fully exerted the innovative spirit of the students in the school, and the delegation was impressed by their innovative ability.
At Georgetown University in Washington, the training team heard a lecture from Professor Charles Weiss on how to innovate in the US technology innovation system and traditional industries. Charles Weiss is a tenured professor at Georgetown University and has served in the World Bank for 15 years. After the lecture, Professor Weiss also presented his signature new work “Technological Innovation in Legacy Sectors” to the training group.
During our stay in Washington, the training team also visited the China-US Science and Technology Innovation Park of the University of Maryland and listened to the introduction of Dr. Du Kaiyuan, Director of the Park Incubator. The park was jointly established by the Torch Center of the Ministry of Science and Technology of China and the University of Maryland. It is China's first overseas technology park. The park incubation project focuses on life sciences and biotechnology, medicine, agriculture, environmental science, and energy. More than 50 companies are currently located in the park, half of which are from China. There are also some large companies that set up R&D institutions here, such as Canon and Foxconn. In addition, the training team also visited the Ditthavong & Steiner Patent Office in Washington.The firm is mainly engaged in the evaluation of patent applications, agency litigation, technology transfer, and also in the evaluation and consultation of intellectual property rights in corporate mergers and acquisitions. The firm's partners highlighted the importance of establishing a patent portfolio . After that, the training team also went to Howard University to hear the head of the Washington, DC Small Business Development Center (DCSBDC), where the US government supports small business policies. The center is affiliated with the Small Business Administration of the United States, and there are 63 such centers in the United States that form a network.
During the San Francisco training, the training team first heard at the University of California at Berkeley a lecture on the development and promotion of IoT technology by Chris Kocher, President of Grey Heron. The training highlights the application of the Internet of Things in the industrial field, innovation in the field of intelligent manufacturing, and case analysis of technological innovation and business model innovation - Amazon strategy. Chris Kocher is also an expert in the American Internet of Things Association. The training team then visited two of Silicon Valley's world-famous incubators, the Rocket Space and the Plug & Play Tech Center. The former has hatched 18 unicorn companies such as Uber, and the latter has hatched Google, PalPal, a world-renowned company. The training team conducted in-depth exchanges on the successful experiences of the two incubators.
During the Los Angeles training, the training team visited the University of California, Irvine in Cheng County, visited the material analysis laboratory of the school, observed the high-end microscopic analysis instruments, and learned the micro-analysis method of the materials. The head of the lab is Professor Zheng Jianguo from Nantong, Jiangsu Province. Professor Zheng came here through global recruitment. Under his leadership, the laboratory has become the most powerful laboratory in the field. Finally, the training team also visited the Los Angeles branch of the United States and the United States Science and Technology Association, and discussed with the club staff around the success and growth environment of high-tech start-ups.
During the visit to the United States, the president of the association also met with Amir Naiberg, director of the Technology Transfer Office of the University of California, Los Angeles, Academician of the American Academy of Engineering, Professor He Zhiming of the University of California, Los Angeles, and Bo Zhiquan, President of the International Institute of Applied Science and Technology, and the Chinese Counselor of Science and Technology in San Francisco. Jun Ming, Lv Xianzhi, Chinese Science and Technology Counselor in Los Angeles, etc.
The trip made by the delegation was a great success. Professor Michael Crowley of Rochester Institute of Technology said that in China, technology talents are often incompatible with the skills needed for entrepreneurship. Professor Crowley reviewed how to build a "Fearless Team" based on experience and brain science. This is the conclusion of the that the role of the amygdula plays in fear and fear suppression is an important area for entrepreneurial American studies of the human brain. The brain of the scientist is often best suited only suitable for scientific research, and the brain of the entrepreneur needs creativity, business vision and an unyielding spirit. Generally, it most people cannot be both a brilliant scientist and a highly successful entrepreneur. Professor Crowley's management theories are based in part of both practical on-the-job training and brain science he refers to as The Sheepdog Factor.
Professor Charles Weiss of Georgetown University believes that innovation actually involves many factors beyond technology.Chris Kocher, president of the IoT innovation, also believes that innovation is not focused on technology, but on customer value. This is very helpful for broadening our horizons. This also requires our local governments, high-tech parks and various incubators to work hard to create a good ecological environment for innovative entrepreneurs and provide all kinds of quality services. At the same time, it also warns people who are interested in starting a business. It is good to have technology.
Without technology, if you have ideas, you can find technology and integrate resources. At the same time, innovation in many areas today requires multidisciplinary cooperation, and it is a thing of the past to succeed in a single field. The robotics laboratory at the University of Pennsylvania is multidisciplinary. Multidisciplinary personnel from electrical, mechanical, materials, automatic control and computer science are involved in research and development, and research and development are combined with start-ups and closer to the market. The popular Internet of Things and cloud platforms are also the result of the joint efforts of several companies and teams. Cross-border and integration will be the main form of future innovation. In addition, the main factor for the success of the incubator is not to build bridges between the incubating enterprises and the universities and research and development institutions, but to establish relationships with the large enterprises and set up bridges. Regardless of the Rocket Space or Plug & Play we have been to, they have succeeded with this.
This visit to the United States was a first-time visit to the United States. It was a great success with the help of the organizers and the members of the training team. Members of the delegation abide by order and conduct civility in public, and they are warm and courteous and not humble in the process of exchanges and discussions with foreign parties, reflecting the good spirit of entrepreneurs in our province in the new era. Everyone expressed satisfaction with the curriculum and the itinerary. In the future, the association will earnestly sum up experience, continuously enrich the training content, improve the training quality, optimize the itinerary, closely integrate training and communication, make international innovation training into a brand, and make due contributions to the province's innovation and entrepreneurship.