The University of Florida has teamed up with G4i Consulting to provide government business development services to its technology incubator companies, bringing a potential for millions of dollars in new government contracts to these companies.
(PRWEB) November 12, 2009 -- G4i Consulting has signed a Memorandum of Understanding with the University of Florida to provide its government business development services to UF-affiliated technology companies. The Memorandum of Understanding has the potential to bring several hundred millions of dollars in new government contracts to UF’s incubator companies, as well as increase licensing revenues for the University.
The goal is to establish a fund that will accelerate the commercialization of UF’s new technologies by introducing them directly to government clients and to Fortune 500 companies operating in the government contracting space.
Plans call for the fund to initially support the creation of a dedicated business development “Gator Team” for five to seven portfolio companies. Drawing on G4i’s custom CRM system, E PROMIS™, and its proprietary business intelligence, each Gator Team will work with G4i to focus the company’s strategy, business and marketing plans to develop a capture and proposal approach aimed to win multi-million dollar contracts over a two-year period.
“As focused as we are on driving licensing, we’re also seeking out relationships that will set our start-ups on a path for success. UF’s affiliation with G4i introduces our incubator companies to the largest consumer in the world.” said David Day, Director of UF’s Office of Technology Licensing.
“The US government buys more than $300 billion of goods and services annually,” Day adds. “We believe this will be a powerful engine for fast tracking the University’s technologies into the marketplace.”
This new program is illustrative of a paradigm shift in the way universities commercialize the outcomes of their research, from simply granting a license to working with the emergent companies to secure their viability after they’ve graduated from the incubator program.
In a challenging economic climate, the federal government has emerged as the most reliable and one of the largest sources of revenue opportunities for small businesses. By selling products to the federal government, these university-affiliated incubators can solidify their balance sheets, become profitable and, as such, become a strong investment target. This in turn helps the universities, which benefit from the support of new and innovative ideas from their researchers.
With nearly a half-century’s experience in the government contracting arena, G4i has successfully closed more than $3 billion in government contracts. Its largest wins in 2009 include portions of a $50 billion (Large Business) and $15 billion (Small Business) award for the GSA Alliant Contract to provide IT and telecom support worldwide; a $360 million award for the Army-Medcom IMAP Contract to provide nursing and ancillary medical services and a $350 million award with the Government of Guam for a landfill and waste incineration plant.
The Memorandum of Understanding also comes at an exciting time for UF’s Office of Technology Licensing, following the August announcement of the creation of the Florida Innovation Hub. A 45,000-square-foot facility funded by an $8.2 million federal Economic Development Administration grant and a $5million match from the University, the facility will serve as a “super” incubator that will connect scientists, investors and entrepreneurs. As part of its own expansion efforts, G4i plans to have its flagship on-site presence at the Innovation Hub after its anticipated opening in December 2011. G4i’s dedicated Gator Teams will be on-site to assist in performing market research, business development, capture and proposal management.
“This partnership with UF is the perfect marriage,” says G4i President Christopher Stahl. “These companies represent the best of the best in emergent technologies and UF is a known leader in commercializing their intellectual property. What we hope to do is build on that foundation of innovation and help the incubator companies focus their market and provide the mentoring relationships that will transform them into multi-million dollar companies.”
G4i anticipates beginning the company appraisal and evaluation process in the fourth quarter of 2009. It is currently capitalizing the fund with its various venture capitalist, hedge fund and private equity relationships.
About G4 Consulting, Inc.
G4i Consulting, Inc. is an 8a-woman owned management consulting firm specializing in helping public and private sector businesses find and win government contracts. As the leading mid-tier government contract capture house, G4i is uniquely positioned with its turnkey solution, which delivers a blend of diagnostic analysis, strategic planning, process improvement, education, web-based tools, and implementation support. G4i offers 40 years of consulting experience in both contractor and government focused customer relationships to help clients meet and exceed their business objectives. Strategically located in Sterling, Virginia, in the Dulles Northern Virginia Technology Corridor, G4i's consultants have their finger on the pulse of the federal contracting marketplace. G4i clients span all federal, civil, defense, and homeland security agencies, as well as state and local governments. Please find out more about G4i at www.g4ichannel.com.
About the University of Florida’s Office of Technology Licensing (OTL)
The University of Florida is one of the nation’s leading research universities, receiving more than $600 million in research funding annually. The Office of Technology Licensing (OTL) at the University of Florida was established in 1985 to work with investors to facilitate the transfer of technologies created at UF to the commercial sector for public benefit. The OTL manages almost 300 disclosures per year generated from the university community. A September 2006 report by the Milken Institute ranked UF fifth among public universities in commercializing technology. For more about UF’s Office of Technology Licensing and the Florida Innovation Hub, please visit www.otl.ufl.edu.
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