Austin, Texas (PRWEB) February 19, 2008
LGE Execs, an Austin-based team of over 50 seasoned executives and operators formed to help companies and organizations grow and succeed, today announced the LGE Technology Transfer program to turn academic ideas into commercial realities.
Through the LGE Technology Transfer program, LGE Execs work with universities and research institutions around the world to evaluate and bring to market commercially viable innovations that result from the intellectual capital developed by their faculty, students and staff.
Additionally, LGE provides executive leadership via interim or permanent positions to help manage all aspects of commercialization and business management including staffing, product development, manufacturing, marketing, distribution and fund raising.
LGE is currently working with dozens of universities in the U.S. and Europe to bring their ideas to market. The firm will soon announce plans to introduce a new breakthrough life sciences product conceptualized and developed by a leading Texas university.
"Academic intellectual property is the lifeblood of innovation," said Newt Hamlin, a Managing Partner at LGE Execs. "However, without the proper business strategy and execution, many of the brightest ideas never make it out of the classroom or laboratory. The seasoned professionals from LGE Execs provide academic institutions with all the tools needed to transform a classroom idea into a blockbuster product."
The market is full of household named products that originated at the university level from sports drinks to information technology to consumer electronics. These success stories have fueled demand for LGE's expertise in screening ideas and providing counsel to bring new campus-driven business concepts to market. In addition, LGE can place an entire C-level suite of interim and permanent executives -- CEOs, CTOs, CIOs and CMOs -- to develop and drive a go to market plan.
With the direction of LGE, universities have significantly improved communications between departments to help extract and build support for ideas and concepts that have the most commercial appeal and potential for success on the open market.
"We believe there are hundreds of ideas that are just waiting to be discovered and transformed into products," said Hamlin. "The work behind this effort is exhilarating because you never know what you're going to find. It's also fun to connect the business schools with science and technology heads. Many of the department leaders we've talked to were stunned at the combined market potential each offered."
LGE has screened several potentially viable initiatives with one university in Texas and identified a product with immediate potential. In addition, LGE Execs have begun negotiations for initial funding, and have mapped out a commercialization and executive team to bring this product to market once funding has closed. Further details on this initiative will be announced later this spring.
LGE Execs is a group of over 50 seasoned business leaders with executive success running, founding, selling and buying companies or driving divisions and functions for global corporations. LGE Execs works with start-ups, enterprises and universities to assess opportunities or problems, develop strategies and then execute tactics to bring tangible success. LGE Execs is headquartered in Austin, TX, with personnel across the US, Europe and Asia. For more information about LGE Execs and the Technology Transfer program, go to http://www.lgeexecs.com.