Livestock artificial insemination is a $27 billion global market, which presents an enormous opportunity for Gamete and TTUS. Gamete's unique collaborative relationship with TTUS will provide us with the unique advantage to capture a large share of this market.
Austin, TX (PRWEB) September 16, 2008
Just two weeks since announcing a partnership with Texas Tech University System (TTUS) to license and develop the universities' intellectual properties, LGE Execs has created a company to develop its first product out of the TTUS laboratories.
LGE Execs, an Austin based firm formed to help companies and organizations grow and succeed, has created Gamete, Inc. to manufacture and sell products and services that will help improve the reproduction process for livestock including cattle, horses, hogs and sheep.
Initial products from the company based in Lubbock, Texas will include proprietary containers that will improve the collection and transportation of livestock semen in a manner that will increase the success rate of conception through artificial insemination by as much as 50 to 70 percent.
These advancements were made in a collaborative effort between researchers in the Department of Obstetrics and Gynecology at the Texas Tech University Health Sciences Center and the Department of Animal and Food Sciences at Texas Tech University.
"Professional livestock producers need a means to increase yields to meet the growing global demands for meat and dairy," said Gamete CEO Jim Havener. "Livestock artificial insemination is a $27 billion global market, which presents an enormous opportunity for Gamete and TTUS. Gamete's unique collaborative relationship with TTUS will provide us with the unique advantage to capture a large share of this market."
LGE Execs and Gamete officials have begun negotiations for initial funding, mapped out a commercialization strategy and created an executive team to bring the Gamete products to market. Operations in Lubbock are expected to begin within a couple of months of funding.
Gamete is the first example of how LGE Execs and TTUS plan to include the original inventors in the development of their technologies and locate operations in West Texas whenever possible. This will help grow the regional and local economies and provide fuel for further innovations.
LGE Execs and TTUS announced an agreement earlier this month to allow LGE Execs to help commercialize TTUS technologies and innovations in the agriculture, health and life science industries. LGE Execs and TTUS are also evaluating other licensing opportunities in the areas of alternative energy from wind, solar and bio fuels, cancer treatments, nanotechnology, computer sciences, and industrial materials.
Through a Technology Transfer program created in January, LGE Execs works with dozens of universities and research institutions around the world. With these schools, LGE Execs evaluates and brings to market commercially viable products that result from the intellectual capital developed in the laboratory or classroom.
Once the products are launched, LGE Execs provides assistance with interim or permanent executives to help manage all aspects of commercialization and business management including staffing, product development, manufacturing, marketing, distribution and fund raising. LGE Execs is currently working with dozens of universities in the U.S. and the U.K. to bring their ideas to market.
About LGE Execs
LGE Execs is a group of over 90 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.
About TTUS and the Office of Technology Commercialization
The Texas Tech University System was created by the Higher Education Coordinating Board in 1996 to expand the educational and research opportunities offered to faculty and students by Texas Tech University and the Texas Tech University Health Sciences Center. Angelo State University joined the System in the summer of 2007.
The System's Office of Technology Commercialization works with university researchers to take their ideas, concepts and/or inventions to the marketplace. Vice Chancellor David L. Miller and his team help to develop start-up companies, assemble an infrastructure to finance proof of concept funding and build relationships with external funding partners. For more on the Office of Technology Commercialization, visit http://www.texastech.edu/otc/.