Avantis Medical – yet2Ventures Portfolio Company – 23% More Effective Cancer Detection

November 12, 2010

SAN ANTONIO, TX–(Marketwire – 10/19/10) – Avantis Medical Systems, Inc., a technology leader in developing novel catheter-mounted digital imaging devices, today announced three new publications validating the use of the Third Eye® Retroscope® during colonoscopy procedures for increased detection of adenomas and other polyps. The data were presented at the American College of Gastroenterology (ACG) Annual Scientific Meeting and Postgraduate Course taking place in San Antonio, TX, from October 15 through October 20, 2010. Avantis Medical is exhibiting at booth #1220.

Peter D. Siersema, MD, PhD of University Medical Center Utrecht, Utrecht, The Netherlands, Principal Investigator, led the podium presentation titled, “A Retrograde-Viewing Auxiliary Imaging Device (Third Eye Retroscope) Improves Adenoma Detection Rates (ADR) During Colonoscopy” (19).

The Third Eye Retroscope Randomized Clinical Evaluation (the “TERRACE” Study) was a prospective, multicenter, randomized, controlled clinical trial conducted by 21 investigators at nine centers in the United States and Europe. In the study, 372 patients underwent two complete same-day, tandem exams using a standard colonoscope with and without the Third Eye Retroscope. The researchers concluded that the Third Eye Retroscope, in combination with a colonoscope, significantly increased detection rates for pre-cancerous adenomas by providing an additional retrograde view of the colon.

“In a head-to-head comparison of Third Eye colonoscopy and standard colonoscopy, we were able to determine that the Third Eye Retroscope increases adenoma detection rates by a significant 23.2 percent,” said Dr. Siersema. “Incorporating the Third Eye Retroscope into colonoscopic exams can provide a powerful advantage for physicians and their patients in the fight against colorectal cancer.”

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P&G’s New Connect and Develop Goals

November 8, 2010

P&G has been using the world as their R&D lab for 10 years and it’s been providing a great ROI.  They call is Connect + Develop, and their goal is to get 50% of their new technology from external sources.  This is called Open Innovation and - No company has been leading more in Open Innovation than P&G.

I first met with P&G in 1999, when we were looking for strategic investors.  We thought yet2.com was an innovative idea and company.  P&G was way ahead of us.  Everythime we would say something crazy like ‘we believe technology will be bought and sold by large companies’, Jeff Weedman of P&G would say ‘ yes, of course, and here is what that means…..’

I learned more in that meeting than I did in the all the previous ones combined.  Which is why we were thrilled when P&G made an investment into yet2.com in 2000 (joining; NTT, Bayer, Siemens, Caterpillar, DuPont and Honeywell, who also made strategic investments in yet2.com).

P&G’s new CEO, Bob McDonald, explains their new goals.  To ‘step up their game’ to deliver $3B in new sales from external technology.

But before you rush out to send your technology to P&G, there are a few things you can do first to improve your odds; 1) Make sure your idea is protected, by filing at least one patent, 2) Have compelling and independent test data that shows your technology is better, and 3) Have samples/prototypes for P&G to test.  Give yet2.com a call (+1781-972-0616)  if you need some help!


VC had mixed results in Q3

November 5, 2010

The third quarter of 2010 had mixed results for Venture Capital.  The quantity invested was down, but the number of deals was up. Here is the short:

$5.4B in investments (down from $5.9 in Q2)

715 deals (up from 612 in Q2)

In terms of deals July was the most active month in the last 15

The # of seed deals has continued to increase (11% of Q3 deals)

A full article with figures can be found here:

http://www.cbinsights.com/blog/venture-capital/venture-capital-quarterly-report-q3-2010

*all data from this blog is from CBInsights


Yet2.com announces webinar for Clean 15 Tech Competition Finalist

November 1, 2010

In the next yet2.com webinar, we introduce three of the finalists in the Clean 15 Clean Tech Competition for ecologically sound, sustainable, and “green” technologies.

Register here: https://www2.gotomeeting.com/register/550474754

The Clean 15 Clean Tech Competition connects sophisticated large company clients, joint ventures, and licensing opportunities to Canadian clean tech providers and companies; stimulates job creation, and motivates researchers and developers to commercialize their clean technology ideas while increasing the supply of compelling venture proposals.

During this webinar, yet2.com will provide an overview of the licensing opportunities as well as specific technologies in the following areas:

  • Advanced lightweight nano-binder material. Mike Mabey from ATI presents a lightweight fire-resistant thermal barrier mineral foam composite for automotive, aerospace, and construction applications. The material can make use of industrial and agricultural waste products.
  • Solar thermal power generation. Tom Beck from SHEC presents a solar receiver with an emissivity loss of only 2% at 850C, compared to other receivers with losses as high as 40%. The technology is applicable to steam turbines, stirling engines, and thermo acoustic engines.
  • Next-generation lighting technology. Joseph Dableh of Fifthlight Technology presents a unique patented controller system that allows magnetic-ballasted fluorescent lighting systems to be dimmed, allowing for individual automated control of each lighting fixture in a building.

Join yet2.com and these finalists from Clean 15 for our FREE Webinar:
18 November 2010 at 11:00 a.m.-12:30 p.m. EST US. (8:00 a.m. PST. 16:00 UK.)


yet2.com and ideaken.com partnership aims to place Asia onto the Innovation World Map

October 20, 2010

There are 3 fun things about working at yet2.com; 1) we work with breathtaking new technology that is about to be commercialized, 2) we work with fascinating people that develop this great technology; 3) we work globally.  Our partnership with ideaken facilitates all 3! – Ben

yet2.com and ideaken.com partnership aims to place Asia onto the Innovation World Map


India / USA 21 Oct 2010 – yet2.com and ideaken.com today announced a partnership to jointly scout innovative solutions from individuals and technology SMEs for their enterprise clients.

Open innovation and Co-creation is the fastest emerging way to procure & supply innovation in a world of diminishing boundaries. This partnership will help both yet2.com and ideaken.com to expand their innovator solver base and get faster and better solutions for their enterprise clients. This partnership will also provide a greater opportunity for individual innovators and technology SMEs to access bigger market of innovation seekers from around the world.

Head quartered in US, yet2.com is world’s largest intellectual property exchange. ideaken.com is a leading open innovation intermediary and co-creation platform provider in Asia.

Dr. Eugene Buff, Vice President of Consulting for yet2.com, said, “Asia is a developing powerhouse of innovation that is of immense importance to the rest of the world. It’s also one of the world’s great markets for technology. yet2.com is very happy to be partnering with an organization of ideaken’s stature.”

“We look forward to a long partnership with ideaken,” said Ben DuPont, president and co-founder of yet2.com. “Innovation is not regional. Developments from Bangalore or Delhi can easily find their way to the shelves of New York or Tokyo, just as innovations from Berlin or Johannesburg may help companies in Bangalore. Organizations like ideaken and yet2.com exist to make these connections happen.”

Jayesh Badani, Founder and CEO of ideaken said “yet2.com and ideaken.com are in the business of tapping into innovative technology providers who are somewhere out there. It makes lot of sense to join forces and create a larger community of innovation seekers and innovation solvers, everybody wins this way. We help our clients collaborate to innovate; this partnership is about applying this principle to ourselves!”

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yet2.com Portfolio Company to Put More Clean Energy on the Grid

October 7, 2010

Portland, Oregon – Iberdrola Renewables, the Bonneville Power Administration (BPA), Constellation Energy Control & Dispatch and software provider Versify Solutions today announced the launch of a new pilot program that could significantly expand cost-effective use of Pacific Northwest wind energy. The project also holds promise for lowering costs while increasing the environmental benefits of wind energy in the region.

The initiative, called Customer Supplied Generation Imbalance or “self supply,” brings together hydro, wind and natural gas-fired energy to reliably and cost-effectively integrate wind generation into the electricity grid and reduce use of coal-fired generation.

Wind power is the fastest-growing form of energy in the world, and the U.S. is the fastest-growing market. The Pacific Northwest has been at the forefront of that growth, zooming from zero megawatts to more than 5,000 megawatts in operation in 12 years. Currently, more than 3,000 megawatts – almost three times Seattle’s average power use – are connected to the BPA transmission system. Since the wind doesn’t blow continuously, the actual energy output of regional wind farms is about 30 percent.

Because wind is an intermittent resource, it must be backed up by reserves. Currently, wind generation is backed exclusively with energy from federal hydropower marketed by BPA. Wind power’s significant growth in the Northwest threatens to exhaust the federal dams’ capacity to alone provide wind balancing services and meet its other obligations.

The self-supply pilot enables wind generators to procure their own balancing resources, freeing up federal hydropower. This will increase hydro-system flexibility, which would help add more renewable resources to the electricity grid.

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A Key Way for Ventures to Gain Access to More Resources? – Legitimacy

September 24, 2010

One of the largest problems facing startups is access to enough capital and resources to stay afloat. Many entrepreneurs lay awake at night, thinking about how they are going to pay their employees, or land the next big contract.  Academic research has shown that a new venture’s legitimacy impacts the amount of resources it can obtain, and thus the amount of growth it can achieve.

“Legitimacy helps motivate the investor by signaling that the organization is properly constituted; committed to the proper scripts, rules, norms, values, and models; able to use appropriate means; and pursuing acceptable ends—all of which signal that it is appropriate to invest in the new venture.” So what is a new venture’s legitimacy?

A new venture is legitimate if:

  1. The management team can be independently verified, and is transparent and open about their failures.
  2. The plan and underlying technology can be verified similarly
  3. The team is open about their shortcomings.  If they are as quick to share bad news as good news they are legitimate.

So what does of all of this mean? New ventures need to make strategic choices to increase their legitimacy. Ventures that do not actively increase their legitimacy, risk not reaching the Legitimacy Threshold and have a greater chance of failure.

For more in-depth info on this read the article (which this is based off of)- BEYOND SURVIVAL: ACHIEVING NEW VENTURE GROWTH BY BUILDING LEGITIMACY by MONICA A. ZIMMERMAN & GERALD I. ZEITZ


yet2.com Webinar – 3 New Metal Joining Technologies from EADS – 9/30 @ 11am EDT

September 14, 2010
I love working at yet2.com for a bunch of reasons.  The first is we get to learn about so many interesting new technologies and meet the inventors behind them.  EADS is a good example.  They are an R&D powerhouse, and we’re privileged to be able to walk around their labs looking for technologies to license or spin out.  It’s the best job in the world.To share this wonderful experience, we’ve started hosting webinars.  These online gatherings are are great for the yet2.com community, the technology scouts, the entrepreneurs, and great for the companies we’ve invested in too.

The next Webinar is on 30 September 2010 at 11:00 a.m.–12:30 pm EDT US. (8:00 am PDT. 16:00 UK.)
We will share 3 new Metal joining technologies from EADS.

The EADS Group includes Airbus, a world-leading manufacturer of commercial aircraft and multi-role military transporters; the world’s largest helicopter producer, Eurocopter; and EADS Astrium, the European leader in space programs.

During this webinar, we will provide an overview of the licensing initiative and will further present specific technologies on welded structures and processes, surface engineering, and new joining technologies.

Register here for this latest webinar: https://www2.gotomeeting.com/register/438364691

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yet2.com Japan – Learnings from My Trip this Week

September 11, 2010

Makino-san, Fujii-san, Me, Takeuchi-san

yet2.com has had an office in Tokyo for 11 years.  Why?  Because Japan is with worlds 2nd (or 3rd largest) economy depending how you count and half of the 10 largest US patent holders are Japanese companies.

We work closely with the leading Japanese technology companies driving technology and patent related transactions.  I’ve been traveling to Japan several times a year for the past 10 years and I thought I’d share a few observation from my trip this week:

1) Breakfast at the Hotel Okura is back! While the cost police at yet2 prevent me from staying there, I do eat breakfast there with some frequency.  The Hotel Okura is where the Tokyo business and technology community have breakfast.    The past 2 years it was not full at 8am.  On Thursday – it was packed.   Japan has been hammered the past 2 years, so this is an encouraging sign (BTW the French Toast is excellent).

2) Cash is Cheap and Back!  While Japan was worse on the downside and slower on the upside, corporate cash is back, and they are starting to spend.  Thanks to encouraging signs from electronics consumers in the US and China.

3) Technology and IP Budgets are Back. 2010 will be a record year by a wide margin for yet2 in Japan.

What does all this mean?  I’m cautiously optimistic for my friends in Japan. I think Japanese companies will be buying more patents on the global market (US and EU) and they will be more aggressive acquiring US venture funded companies – so they can continue to grow.


yet2Ventures Closes Investment in Avantis Medical

September 1, 2010

yet2.com’s venture group made an equity investment in Avantis Medical

One of the best things about yet2 and our venture investing is the interesting people we get to meet and the technology we get to see. I’m excited to say we can add one more to our growing list of portfolio companies.

Avantis Medical Systems, Inc. is a medical device company founded to develop and manufacture catheter-based endoscopic devices. Based in Sunnyvale, California, the company is commercializing devices for use in detecting and treating cancers and other abnormalities of the gastrointestinal (GI) tract.

The Avantis team has many decades of experience in the medical device industry. The Company is developing a number of innovative devices based on the convergent technologies of micro-chips and reinforced catheters.

We’re impressed with the Avantis technology, IP position, and management team.


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