CEOs-In-Residence programs represent worldwide initiative to provide start-ups with experienced management
PRINCETON, N.J., March 21, 2013 /PRNewswire/ — IP Shakti (www.ipshakti.com) has now launched a CEO-In-Residence (CIR) program with their existing gap fund and technology portfolio. "Management, Funding and Technology form the 3-legged stool a start-up company needs to bring a technology to the marketplace. Many Universities have the technology, and perhaps the management through an entrepreneurship program, but at IP Shakti we can provide the funding as well as the experienced management," explains Dr. Dipanjan Nag, CEO and President of IP Shakti.
CEO-In-Residence (CIR) programs are becoming increasingly popular worldwide to provide start-up companies with experienced management. Effective guidance at the creation of a start-up company is absolutely critical to success. The CEO creates a business model that invites investment, anticipates and removes obstacles, oversees budgets, fundraises, and effectively reports to investors about accomplishments and concerns. Universities are becoming increasingly aware of this, sparking a number of CIR programs. Previously, Dr. Nag successfully pioneered the CEO-In-Residence program at Rutgers University, which launched several companies from the University.
IP Shakti has carefully selected CEOs who understand the intricacies of start-up technologies, and have a proven track record of success. Among the CEOs joining the CIR program are Will Rosellini and Daniel Behr. Chairman of the Board Audrey Spangenberg adds, "In today's competitive environment, we need to maximize the edge we have in US innovation. The CIR program from IP Shakti will further de-risk medical device ventures by adding valuable management experience. This is the next step in the revolution for creating value from intellectual capital."
Will Rosellini currently serves as the Executive Chairman of Rosellini Scientific, LLC, a leading global provider of rehabilitation medical devices and services, with a broad range of products used for rehabilitation, pain management and physical therapy in alternative care settings. He previously served as the founding CEO of Microtransponder and Lexington Technology Group. During his tenures as CEO, he has raised nearly $30M in venture funding and $10M in NIH grants. He has been named a MTBC Tech Titan and a GSEA Entrepreneur of the Year and has testified to Congress on the importance of non-dilutive funding for inventors and researchers. He has recently stepped in as the Interim CEO at an IP Shakti portfolio company.
Daniel Behr is an experienced entrepreneur, venture investor and technology development professional. Daniel is currently Senior Vice President and a founder of Access BridgeGap Ventures, the early-stage life sciences venture investment and venture creation unit of Access Industries. From 2006-2010, Daniel was Director of Business Development at Harvard University's Office of Technology Development where he helped launch 7 Harvard. Previously, Daniel co-founded 3 startups and a seed-stage venture investment fund.
About the company:
IP Shakti is an early-stage seed fund for biomedical and life science innovations. President and CEO, Dr. Dipanjan Nag has created over 21 start-up companies at Rutgers University and assisted several others at University of Nebraska and throughout his career. This valuable experience provides impetus that enables IP Shakti to bring disruptive technologies to market through startups. For more information on IP Shakti, LLC, please visit www.ipshakti.com, or contact Kaitlyn Turo, VP of Intellectual Property at (609) 759-0214.