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COMPANY HIGHLIGHTS
In our short history, we are building an impressive client list, new ventures, evaluation and licensing assignments.
MindForce Hired To Judge $2M Florida SURECAG Program
During the first quarter of 2008, MindForce reviewed, within 45 days, 41 detailed proposals submitted by 8 Florida public university technology transfer offices for grants in three separate phases: $50K outright grants, $100K matching grants for business plans for IP still residing within the university, and also $250K matching grants for companies who have licensed Florida public university's patents (totalling $2 Million).
As judge, MindForce brought together over 40 subject matter experts in teams of 4 or 5 experts per proposal review from both the tech transfer industry as well as specific subject matter experts, related to the IP as listed in the proposals, to fairly assess each submitted proposal, and provide recommendations
on the best proposals for each category. We presented our recommended selections to the State of Florida Board of Governors. We were hired by our client, the Florida Research Consortum.
University Hired MindForce To Find Licensees
In 2007, this public university's tech transfer office hired MindForce due to its expertise in an area where the university did not have internal in-staff expertise.
MindForce engaged one of our core consultants, a uber-expert in this area, and then we formed a Licensing Team, including a few other industry experts, found through MBA GlobalNet, our sister firm.
Next, our Uber-Expert proceeded to assist the university in its utility patent application as part of our work for them.
In less than 1 year, the US Patent Office has accepted all claims (an extremely rare occurance) and will shortly the grant the patent.
During 2008, MindForce and the university have two closed two licensing deals. We are actively seeking licensees, with a Licensing Team, and are involved in serving the university in its discussions with all potential licensees we bring to them.
MindForce Created New Venture From Pharmaceutical Company IP
In 2007, MindForce received an inquiry from one of our strategic partners about the opportunty to outlicense diagnostic IP from a leading global pharmaceutical company.
We assembled a Venture Team after initial discussions with our strategic partner and internal review of the patents being offered.
One team member showed significant interest, backed by his deep subject-matter expertise,
in being the team leader. Over the next few months, he worked with us to assemble
a strong management team and advisory board, and also secure prestigious IP and corporate legal representatation.
We formed the company in Silicon Valley and our team leader is now the CEO of our spinoff company. Initial Venture Team members have received shares, commensurate with their
participation and contributions. In June 2008, we entered into a contract with the IP owner to license their IP. We were not successful, however, in our capital raising efforts given the
TARP Bailout efforts were in process. We still continue to seek capital for Prevendia.com as the business plan is sound and the world needs this diabests/heart disease diagnostic tool.
MindForce Partnered With Phase I NSF Firm To Write Phase II Commercialization Plan For Nanotechnology Company
MindForce assembled a three person team to work with a company, which had received a Phase I $100K grant, but knew it did not have the skill set to successfuly write the required Phase II 15 page commercialization plan for an additional grant of $500K.
This firm had spent many months talking with other groups to write the plan, and received expensive fee proposals.
MindForce was initially contacted in mid-December of 2007 before the due date of January 30, 2008.
Our team worked closely with the company to write this commercialization plan in less than one month, including MindForce's role as the management team/business partner. In June 2008, MindForce and this company formed a new company upon hearing positive news that the NSF would award the $500K grant to us.
In late 2008, the NSF did make the award. We made technical progress in 2009, the first year of the Phase II grant.
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