Venture Center Director

Company: University of Minnesota
Location: Minneapolis
Posted on: November 19, 2024

Job Description:

Apply for JobJob ID365103
LocationTwin Cities
Job FamilyBusiness Development
Full/Part TimeFull-Time
Regular/TemporaryRegular
Job Code9366BD
Employee ClassAcad Prof and Admin
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About the Job


The University of Minnesota's Venture Center, established in 2006, is an integral part of the Technology Commercialization office, focused on translating innovative research into viable startup companies. With 265+ startups launched and a consistent run rate of 20 to 25 new startups annually, the Venture Center plays a critical role in fostering entrepreneurship and driving economic development for Minnesota and beyond. It provides comprehensive support for UMN-affiliated startups, including access to funding, mentorship, and other resources, while actively engaging with the local and national innovation ecosystems.The Venture Center Director will report to the Associate Vice President for Research and Innovation - in the University's Technology Commercialization office. This role has ultimate leadership and management responsibility for the Venture Center business unit. The Director will set the strategic direction, oversee day-to-day operations, provide team supervision, along with having key individual contributor responsibilities. The position will also participate in the development of overarching strategies for Technology Commercialization and the Research and Innovation Office (RIO).We offer a competitive annual salary range of $190,000 to $220,000, commensurate with experience and qualifications.

Position Duties and Responsibilities

Business Unit Operations Leadership (35%)
The Venture Center Director is responsible for overseeing all daily operations of the Venture Center, which leads startup activities for new and existing ventures. Key responsibilities include:

• Leadership and accountability for all startup-related activities including the Discovery Capital and Discovery Launchpad programs, the Business Advisory Group, as well as two key new programs: and Program.
• Managing investor relations programs that benefit UMN startups, ensuring effective deal flow for investment opportunities and fostering long term relationships with investors.
• Forecasting, tracking, and reporting business unit activities and performance to Tech Comm, RIO, and UMN - including the Office of Investments and Banking (OIB).
• Leading the recruitment, onboarding, management and development of new team members, including the Investment Program Manager and Venture Development Associate.Strategic Planning (25%)
  The Director will be responsible for developing and implementing strategic plans that align with the overall goals of the Venture Center, including:
  • Crafting comprehensive strategies for startup-related activities, ensuring alignment with Tech Comm objectives.
  • Setting and measuring annual goals for the business unit, tracking performance and reporting progress.
  • Identifying business initiatives and collaborative opportunities for the Venture Center's effectiveness and reach.External Business Relationships (25%)
    The Director will play a key role in establishing and maintaining relationships with external stakeholders, focusing on:
    • Engaging with the local innovation ecosystem to build partnerships with leaders, investors, and organizations.
    • Leading outreach initiatives to connect investors with UMN startups and representing the team at events.
    • Facilitating communication and collaboration between the Venture Center and external organizations to translate research into viable startups.
    • Partnering with Venture Center Directors at other universities to share successful programs and best practices.Cross Functional Relationships (15%)
      The Director will ensure productive collaboration between the Venture Center and other UMN departments, focusing on:
      • Leading University-wide initiatives and collaborating with leaders to implement new programs and policies.
      • Advising senior leadership on the operational and financial impacts of strategic decisions and policy changes.
      • Participating in key committees and as an office representative at both internal and external forums.The Research and Innovation Office (RIO) and Technology Commercialization endorses a "work with flexibility" approach that offers a welcoming and flexible work environment where everyone is inspired to do their best. Work location options include working fully remote, partially remote, or entirely in the office and are based on the work of the position. Some on-site work may be necessary for certain positions, even those designated as fully remote.
        This position has been designated as eligible for flexible work profile two.
        Profile two is expected to work on-site more than 50% of the time. Your office will be located in the McNamara Alumni Center. Technology Commercialization management retains the right to modify flexible work arrangement agreements on a temporary or permanent basis for any reason at any time.
        Qualifications
        
        
        Required Qualifications
        • BA/BS degree with at least 15 years of leadership experience in technology and/or product commercialization
        • Startup experience, including fundraising.
        • Investment (angel or VC) experience.
        • Strong understanding of complex license and investment agreements.
        • Strategic planning experience.
        • Strong organization skills with attention to detail. Initiative and ability to work independently and in teams.
        • Excellent written and verbal communication skills are required. An ability to communicate and work effectively with a variety of internal and external stakeholders.
        • Experience developing relationships with business development executives across a variety of industries.
        • Excellent interpersonal skills - proclivity to be an outgoing spokesperson and relationship builder.Preferred Qualifications
          • MBA or other related advanced degree
            About the Department
            
            
            The Technology Commercialization (Tech Comm) office at the University of Minnesota helps University research move beyond the lab and into the marketplace.Our mission includes:
            Protection of University Intellectual Property Connecting researchers with companies; Licensing technology for development of new products and services that benefit public good; Fostering economic growth; Generating revenue that supports the University's research and education goals.
            Visit our to learn more!
            Benefits
            
            
            Working at the University
            
            At the University of Minnesota, you'll find a flexible work environment and supportive colleagues who are interested in lifelong learning. We prioritize work-life balance, allowing you to invest in the future of your career and in your life outside of work.
            
            The University also offers a comprehensive benefits package that includes:

            • Competitive wages, paid holidays, and generous time off
            • Continuous learning opportunities through professional training and degree-seeking programs supported by the
            • Low-cost medical, dental, and pharmacy plans
            • Healthcare and dependent care flexible spending accounts
            • University HSA contributions
            • Disability and employer-paid life insurance
            • Employee wellbeing program
            • Excellent retirement plans with employer contribution
            • Public Service Loan Forgiveness (PSLF)
            • Financial counseling services
            • Employee Assistance Program with eight sessions of counseling at no cost
            • with free or reduced rates in the Twin Cities metro areaPlease visit the for more information regarding benefits.
              How To Apply
              
              
              Applications must be submitted online. To be considered for this position, please click the Apply button and follow the instructions. You will be given the opportunity to complete an online application for the position and attach a cover letter and resume.Additional documents may be attached after application by accessing your "My Job Applications" page and uploading documents in the "My Cover Letters and Attachments" section.To request an accommodation during the application process, please e-mail employ@umn.edu or call (612) 624-8647.
              Diversity
              
              
              The University recognizes and values the importance of diversity and inclusion in enriching the employment experience of its employees and in supporting the academic mission. The University is committed to attracting and retaining employees with varying identities and backgrounds.The University of Minnesota provides equal access to and opportunity in its programs, facilities, and employment without regard to race, color, creed, religion, national origin, gender, age, marital status, disability, public assistance status, veteran status, sexual orientation, gender identity, or gender expression. To learn more about diversity at the U:
              Employment Requirements
              
              
              Any offer of employment is contingent upon the successful completion of a background check. Our presumption is that prospective employees are eligible to work here. Criminal convictions do not automatically disqualify finalists from employment.
              About the U of M
              
              
              The University of Minnesota, Twin Cities (UMTC)The University of Minnesota, Twin Cities (UMTC), is among the largest public research universities in the country, offering undergraduate, graduate, and professional students a multitude of opportunities for study and research. Located at the heart of one of the nation's most vibrant, diverse metropolitan communities, students on the campuses in Minneapolis and St. Paul benefit from extensive partnerships with world-renowned health centers, international corporations, government agencies, and arts, nonprofit, and public service organizations.At the University of Minnesota, we are proud to be recognized by the Star Tribune as a Top Workplace for 2021, as well as by Forbes as Best Employers for Women and one of America's Best Employers (2015, 2018, 2019, 2023), Best Employer for Diversity (2019, 2020), Best Employer for New Grads (2018, 2019), and Best Employer by State (2019, 2022).
              

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