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Associate Director of New Ventures

Position Information

Position Information

Working Title: Associate Director of New Ventures
Faculty Rank: Lecturer
Role Title: Professional Faculty
Posting Number: AP0180065
About Virginia Tech:

Virginia Tech is a public land-grant university, committed to teaching and learning, research, and outreach to the Commonwealth of Virginia, the nation, and the world. Building on its motto of Ut Prosim (that I may serve), Virginia Tech is dedicated to InclusiveVT—serving in the spirit of community, diversity, and excellence. We seek candidates who adopt and practice the Principles of Community, which are fundamental to our on-going efforts to increase access and inclusion, and to create a community that nurtures learning and growth for all of its members. Virginia Tech actively seeks a broad spectrum of candidates to join our community in preparing leaders for the world.

Position Summary:

The Office of the Vice President for Research and Innovation at Virginia Tech is seeking an Associate Director of New Ventures. The office oversees the university-wide strategic initiatives and operational functions of Virginia Tech’s $520+ million research enterprise and is home to Link, The Center for Advancing Industry Partnerships, which is taking a holistic and integrated approach via a Discovery to Market model. This position is key to the ambitious plans Virginia Tech is making to be a leading 21st century land grant university that delivers innovative solutions to the most pressing global challenges of our time.

A successful candidate will work closely with stakeholders across the university to facilitate the commercialization of technologies with a focus on start-ups, new venture development, and licensing to small enterprises. In this role, the Associate Director will build collaborative relationships with key entrepreneurial faculty, staff, and post-docs, solicit invention disclosures in support of startup company formation, develop curriculum and training events for those interested in engaging in a startup, and track portfolio companies’ progress to foster entrepreneurship, innovation and research commercialization. A successful candidate will work as a member of a matrixed team to strong innovation management, including business development professionals and Associate Directors and Directors of Technology Commercialization.

Reporting to the Executive Director of Link, a successful candidate will:
- Build and nurture a commercialization network of community members, wherein the network combines deep experience with early ventures and breadth across Virginia Tech’s areas of technology innovation.
- Leverage the commercialization network to advance and develop innovative technologies and help develop commercialization skillsets among faculty, post-doctoral, and graduate student inventors.
- Collaborate with other Link members to evaluate opportunities, inform appropriate commercialization paths, and in some cases, pursue start-up formation in parallel with other commercialization activities.
- Manage patent prosecution with external patent counsel to assure the patent strategy is followed, and intellectual property rights are appropriately protected.
- Develop informational sessions for stakeholders on issues relevant to investments in startup companies.
- Cultivate intellectual property from multiple sources to expand Virginia Tech’s startup pipeline.
- Assist with early business development, potential customer interactions, and business/development partners.
- Market startup companies and technologies to prospective investors; serve as a liaison with potential investors.
- Draft and negotiate commercial license agreements with startups, and ensure compliance of licensing obligation.
- Source new venture investments including meetings with founders and entrepreneurs, attending relevant conferences and networking events, and calling on new prospects.
- Conduct detailed industry, business, and financial due diligence on prospective investments; prepare in-depth financial and data analysis for potential investments, including customer and management references, market sizing and mapping, and industry research.
- Support development of pitch materials, grants, and other communication materials.
- Develop financial models relating to financing, restructurings, valuation analyses and liquidity, and perform careful evaluation of ROI opportunities.
- Engage with Entrepreneur in Residence (EIR) program that optimizes deployment of current and recruit new EIRs.
- Oversee the relationships and advise the Virginia Tech portfolio companies with recommendations and coaching.
- Develop and document best practices for growing start-ups and mentoring programs within the Virginia Tech innovation ecosystem.

Required Qualifications:

- Master’s Degree OR Bachelor’s degree (in a physical science or engineering) and demonstrated progressively responsible professional experience focused on commercialization of early innovative technologies within a university environment or start-up, and/or appropriate industry or discipline.
- Experience/knowledge in key functional areas, such as company formation, licensing, commercialization, and deal structuring.
- Progressive leadership experience in either a university technology transfer office, in a start-up, or within industry leadership positions responsible for new ventures.
- Excellent communication and interpersonal skills, including public speaking, presentation and pitches.
- Strong organizational skills and an ability to handle multiple and complex tasks and projects concurrently.
- Demonstrated energetic and visionary leader with commitment to teamwork.
- Willingness to travel on a frequent basis.

Preferred Qualifications:

- Proven industry, investment, and/or small enterprise experience.
- Connections and experience working with venture capitalists and/or angel investors across industries.
- Demonstrated networking skills, including negotiating strategic, business-to-business agreements and assisting companies with finding additional financing.
- Early stage fund development and management experience.
- Previous business development/strategy experience in creating and implementing progressively complex strategies using data analytics, technical/domain knowledge and information, and competitive/market intelligence to guide decision making.

Employment Conditions: Must have an acceptable and safe driving record, Must have a driver's license check, Other (Describe Below)
Must have a conviction check: Yes
Describe Other:

- Successful criminal background check, to include driver’s license check, proving an acceptable and safe driving record.
- Commitment to support regional and national travel which may include overnights and weekends. Must have the ability and willingness to travel using standard, commercial, and/or personal modes of transportation regionally (e.g., Blacksburg, Roanoke, and Northern Virginia locations, and other campus locations across the state) and in some cases, nationally, to meet with prospective entrepreneurs and investors, attend conferences, and engage with the scientific and business community.

Employment Comments:
How to Apply for this Job:

For more information about this opportunity and how to apply, please visit www.jobs.vt.edu and search for posting #AP0180065. Review of applications will begin on Monday, April 16, 2018 and will continue until the position is filled.

Employee Category: Administrative and Professional Faculty
Appointment Type: Regular
If restricted or temporary, enter end date:
FLSA Status: Exempt: Not eligible for overtime
Tenure Status: Non-Tenure Track
Academic Year or Calendar Year: Calendar Year
Percent Employment: Full-time
If part time, enter Percent Time:
Pay Range: Commensurate with Experience
Location: Blacksburg
Department: Research/Interdisc Prg - Admin
Location, if not Blacksburg:
Location Zip Code: 24061
Work Schedule: M-F+
Job Posting Date: 03/02/2018
Review Begin Date: 04/16/2018
Job Close Date:
Restricted to university employees only?
Equal Opportunity/Affirmative Action Statement:

Virginia Tech does not discriminate against employees, students, or applicants on the basis of age, color, disability, gender, gender identity, gender expression, national origin, political affiliation, race, religion, sexual orientation, genetic information, or veteran status; or otherwise discriminate against employees or applicants who inquire about, discuss, or disclose their compensation or the compensation of other employees, or applicants; or any other basis protected by law.

For inquiries regarding non-discrimination policies, contact the executive director for Equity and Access at 540-231-2010 or Virginia Tech, North End Center, Suite 2300 (0318), 300 Turner St. NW, Blacksburg, VA 24061.

Reasonable Accommodation Statement:

If you are an individual with a disability and desire accommodation please contact the hiring department.

Quick Link: http://listings.jobs.vt.edu/postings/84558

Supplemental Questions

Required fields are indicated with an asterisk (*).

  1. * How did you first learn about this job opening?
    • Chronicle of Higher Education - online
    • Chronicle of Higher Education - print
    • Higher Ed Jobs (www.higheredjobs.com)
    • Higher Education Recruitment Consortium - HERC (www.hercjobs.org)
    • Diverse Jobs (www.diversejobs.net)
    • Insight Into Diversity (www.careers.insightintodiversity.com)
    • Indeed (www.indeed.com)
    • Roanoke Times Online (www.jobs.roanoke.com)
    • Commonwealth of Virginia Jobs (www.jobs.virginia.gov)
    • Virginia Tech job site (www.jobs.vt.edu)
    • Facebook
    • LinkedIn
    • Twitter
    • Job Fair (please describe below)
    • Journal (please describe below)
    • Listserv (please describe below)
    • Newspaper - print (please describe below)
    • Professional Conference (please describe below)
    • From a friend/acquaintance not associated with Virginia Tech (please name below)
    • From a Virginia Tech employee/representative/recruiter (please name below)
    • Veteran related event/site (please describe below)
    • Virginia Employment Commission - VEC
    • Other Virginia Tech affiliated website (please describe below)
    • Other job board such as Simply Hired, Career Builder, etc. (please describe below)
    • Other - Not listed (please describe below)
  2. Please describe recruiting source identified in previous question (if applicable):

    (Open Ended Question)

Required Documents

Required Documents
  1. Resume/Curriculum Vita
  2. Cover Letter
  3. List of References
Optional Documents