Engineering Management Seminar Series - Dr. Sebastian Titz
Thursday, October 10, 2013 – 10:00 am
Location: Kidde 228
Engineering Management Seminar Series
Fostering Open Innovation Through Early Stage Funding: The 3M Case
Dr. Sebastian Titz
Investment Manager, 3M New Ventures
ABSTRACT: Open innovation is a new approach to innovation management through which large companies try to overcome the "not invented here" syndrome by exploiting knowledge and ideas that are created outside of their organizational boundaries. One way through which large innovative companies implement open innovation is by scouting high potential start-ups and by supporting their spin-off through several rounds of investments in exchange of different types of returns from the newly created venture (joint-venture, equity, licensing, etc.)
Drawing form his experience as technology management scholar and 3M New Ventures manager, in his seminar Dr. Titz will focus on how potentially disruptive technologies can be identified and on the scouting and screening process through which corporate investors pick out promising start ups and follow them during their entrepreneurial development.
BIO: Dr. Sebastian Titz is an investment manager of 3M New Ventures, the corporate venture arm of 3M in North America. He identifies and invests in disruptive new technologies and start-up companies of strategic relevance for 3M. His investment interests include health care, sustainability, advanced materials and electronics.
Before joining 3M he did research in Science and Technology Management focusing on post-acquisition collaboration at the University of Naples and worked as a consultant in the automotive industry.
Sebastian has a M.S. in Industrial Engineering and Management. He also holds a PhD in Engineering from the University of Naples Federico II and (Italy) and a Master in Business Administration from the Whittemore Business School of the University of New Hampshire.