A new company formed to create opportunities for entrepreneurs at
The University of Southern Mississippi will become the commercialization
and marketing arm of the university's research foundation.
officials announced today the creation of Noetic Technologies Inc.,
which will take the research and intellectual property created at
Southern Miss from the laboratory into the commercial sector.
is no doubt that Southern Miss excels in education and research,"
Southern Miss President Shelby Thames said. "Now we have a
company in place that will help take that research into the commercial
and CEO Les Goff said the company has two products to market: all
of the intellectual property and knowledge that is original to Southern
Miss, and "inorganic" property that has been donated to
the university. Goff said the goal is to have the university's intellectual
property packaged and ready to go to market, and then plant as many
seeds as possible. "You only need a few of them to produce,"
team, assembled from individuals experienced in commercial ventures,
has spent the past few months getting its arms around the university's
intellectual property. "We're establishing an inventory and
talking to the faculty to get a feel for what we have so we can
go out and market our technology," Goff said. "It is not
a hard sell because the faculty are well-known in their fields.
Southern Miss has a good reputation."
Southern Miss as executive director of business development and
CEO of Noetic after spending 15 years with GE Plastics. At GE, he
worked in product development, held commercial duties in global
marketing and led businesses and business startups. Goff has a doctoral
degree in polymer science from Southern Miss.
took on technical marketing for Noetic after working 10 years in
the plastic additives group of Atofina Chemicals Inc., where she
generated $28 million in sales. Booth graduated from the Georgia
Institute of Technology with a degree in chemical engineering.
is the university's director of process technology and the technical
director of Noetic. He has more than 16 years' experience in the
specialty chemical industry, having worked in research and development,
process technology and operations management. Flosenzier previously
worked for Atofina Chemicals and Stephan Company. A native of Indiana,
he holds degrees in chemical engineering from Purdue University
and Northwestern University.
As part of
its marketing strategy, Noetic is launching a Web site that describes
the university's portfolio of intellectual property. The Web site
will give businesses the information they need to contact university
representatives with commercialization opportunities. The Web site
will also provide tools for inventors who want to learn how to market
are a couple of challenges," Goff said. "First, there
is no set procedure or clear path to follow. And while some professors
have commercial experience, many never have done this. That's where
we come in because we all have commercial experience. We are here
to connect opportunities with businesses or our external customers
with intellectual property."
as Noetic and the similar Research Technology Corporation at Mississippi
State University can play important roles at Mississippi's four
comprehensive research universities, said Mississippi Technology
Alliance (MTA) Vice President for Business Venture Development Jack
Harrington. These institutions received more than $242 million dollars
in federal research funding in 2001 alone.
federal funding that goes into university research is the single
largest driver of research in our state," Harrington said.
"In addition, in utilizing that funding, the research universities
are the largest driver of any kind of innovation in Mississippi."
said that commercializing university research can give the universities
a new revenue stream to make up for continually dwindling state
that with the national trend moving away from fully funded, state-
supported universities, companies like Noetic could create a much-needed
imperative that we pursue new support ventures," Thames said.
with hectic teaching and research schedules have welcomed assistance
from the Noetic team, and Goff said the faculty have been very receptive
to the idea.
six to 10 members who are excited and open to figuring out how to
market their ideas. A lot of them have the contacts already, but
they don't have the time to market their research."
Goff said establishing
Noetic was part of the vision President Thames developed for Southern
Miss. "There is a chance to create value and opportunities
for Southern Miss, and we are glad to be a part of it," Goff
said companies like Noetic can provide the infrastructure needed
to help professors launch successful ventures, and the MTA is there
to assist them.
we do is help create the network to make that technology a successful
technology company. For example, MTA can help locate risk capital,
legal assistance and access to business resources.
said: "When universities commercialize research consistently
over time, it creates momentum that helps you access risk capital
and bring together the resources you need to build successful companies.
When you concentrate that experience in one place, with each company
you are better equipped to build the next one."