OCTANe 2016 Ophthalmology Technology Summit

The fourth Ophthalmology Technology Summit (OTS), was held June 21st at the Center Club in Costa Mesa, Calif. During the past three years OTS has grown to a large platform with great participation (225) from opinion leaders, industry, and clinicians all gathering to discuss relevant and innovative ideas in ophthalmology. It was sponsored by OCTANe which has connected people and ideas with capital and resources to fuel technology growth in Orange County for over 7 years. Its members represent Orange County technology executive leaders, entrepreneurs, investors, venture capitalists, academicians, and strategic advisors—–
• Working to stimulate technology job growth and wealth creation in Orange County
• Helping entrepreneurs turn ideas into successful businesses
• Helping companies connect with funding, growth resources, and strategic partners
• Help senior executives access intelligence, new technologies, and talent
• Helping develop new technology business leaders

This event included a keynote featuring David Pyott, former CEO of Allergan, who was interviewed by Jim Mazzo, CEO of AcuFocus. Both have known each other for some time and have interacted with key people in ophthalmology. Here we learned that we must listen to potential markets, keep it simple, use only small committees, focus, and grow at a reasonable rate. This was followed by several panel discussions:

• Emerging technologies affecting efficiency and patient outcomes
o Moderated by Clay Wilemon, CEO & chief strategy officer, DevicePharm
Emerging technologies must look for unmet needs, be aware of technology advances, consider cost/benefit, be aware of patient expectations, be aware of reimbursement and payer issues, be willing to work, develop valuable intellectual property, and keep it simple for the user.

• Research and consolidation in new practices
o Moderated by Ehsan Sadri, M.D., FACS
There seems to be a trend to develop larger practices to offer more from one location. This enables shared technologies and facilities, more efficiency, multiple specializations, and job sharing for families with small children.

• New technologies and the role of internal and external research and development
o Moderated by Jim Mazzo, CEO & chairman, AcuFocus
It is becoming more expensive to fund new projects–$3-5M for 510k, $50-90M for PMA, and drug development can be on the order of $4B. Successes offer new R&D possibilities, but many times only 7% of income will be used for new product development. That may be why strategic partnering with small companies can be more efficient to focus on new products. New products need to be value driven, but there can still be significant technical risk. In such a case a project should be allowed to fail early if there are not enough resources to get it to market.

• Investment opportunities in ophthalmology
o Moderated by Chris Cooley, managing director, Stephens Inc.
Early stage investments have been down, venture deals are up, and growth in ophthalmology is continuing. As a result it remains a promising space for investment. There is a need for more efficiency in startups—early development of management team, do not miss milestones, reduce risk, use multiple sources of funding, and keep building access to capital with strategic partnering.

During the panels I saw themes develop like—Focus—Simplify—Grow—-Move Fast. Since OC
Is a global epicenter of innovation for new products and services in ophthalmology, OCTANe has launched an investment fund, Visionary Ventures, which invests in ophthalmic companies such as IanTech and Mynosys —-screened by their LaunchPad accelerator.

Update on Patenting Changes during 2015

I again took part in a Management Roundtable at McDermott Will & Emery. These Management Roundtables are designed for the educational benefit of a company president, CEO, general counsel or other executive with an interest in intellectual property. This year’s panel analyzed the major developments and changes in patent law during 2015, and discussed some key cases to watch in 2016. This year’s panel consisted of: Christopher Bright, Nathan Smith, and Andrew Mickelsen —all partners at McDermott Will & Emery, a leading international law firm with more than 1,100 lawyers— with more than 100 registered patent lawyers and agents. This year the discussion included the following topics:
• The Supreme Court of the United States’ decisions in Commil USA, LLC v. Cisco Systems, Inc. and Teva Pharmaceuticals USA v. Sandoz, Inc.
• The Federal Circuit’s decisions, including Akamai Techs., Inc. v. Limelight Networks, Inc.; Biosig Instruments, Inc. v. Nautilus, Inc.; Carnegie Mellon University v. Marvell Technology Group, Ltd., et al.; In re BRCA1- and BRCA2-Based Hereditary Cancer Test Patent Litigation; and Sandoz Inc.
v. Amgen Inc., which affect patentability, claim construction, indirect infringement, preliminary injunctions, appellate jurisdiction, venue, issue and claim preclusion, permanent injunctions, damages, attorneys’ fees and sanctions.
• Practical and case law implications of the continued America Invents Act implementation, including interpretation and application of key procedural rules guiding inter partes review and covered business method review.

One of my key observations of issues to be aware of include documentation and filing for patents early enough to include key technologies that might be exposed during early discussions with vendors, potential strategic partners, or from early commercialization attempts at marketing. One should also take into account infringement and validity opinions on potentially competing patents. In any case one should be well aware of prior art, how the patent may be used, competition, and the chances of patent rejection. At the present time approximately 25% of the patent applications are being rejected. The examiners seem to be trained better than in the past.

In the evaluation of patenting a new idea one should be aware of the cost of defending a patent –especially if it is close to a number of related patents. For example, one can use a strategy of reexamination or inter party review of a competing patent after an attorney has reviewed the situation. Even if the competing patent is not valid one should be careful with respect to any court action which can eliminate typical front end startup funding even though there is good probability of success. A court would need to understand the value of patent claims in arriving at a settlement. Negotiation between parties for a licensing arrangement is a much better approach—if it can be done. Here the larger organization can have a huge advantage, but they may not take any significant action until their market share is reduced.

Ray Kurzweil Reporting on Innovation in 2016 at MD&M

Ray Kurzweil, influential author, inventor, and futurist gave a keynote address in Anaheim at the MD&M Conference. Here he was introduced as “the restless genius” according to The Wall Street Journal, and “the ultimate thinking machine” according to Forbes. Inc. Magazine who ranked him #8 among entrepreneurs in the United States—- thereby calling him the “rightful heir to Thomas Edison. Also, PBS had selected Ray as one of the “revolutionaries who made America”. So he is considered one of the world’s current leading inventors, thinkers, and futurists over the past 40 or 50 years as evidenced by 20 Honorary Doctorates, many speaking opportunities, and many publications.

Since this was a technical conference with a lot of technologies, systems, and components available for innovation, he was well received. After his presentation I heard many favorable and agreeable comments. In review he was first to invent many things such as:
• The first CCD flatbed scanner,
• Omni-font optical character recognition,
• Print-to-speech reading machine for the blind,
• Text-to-speech synthesizer,
• Large-vocabulary speech recognition.

Over the past decades he had predicted many of the innovations in semiconductors, computers, data transmission rates, and the costs of semiconductors and computing. In many cases there were doubling of data rates and computing power/$ every year. This seemed to follow Moore’s Law which applies over a period of many decades. One would think there is a limit coming up soon (2020) where this model will breakdown—but that thinking has been true in the past and the model is still valid.

Health care information technology is also expanding at the rate of 1000X per decade. Cell reprogramming is also providing new possibilities for health care with 3D printing of human organs, stem cell therapy, and active additions to blood to combat disease. A larger variety of organs will be routinely replaced by 2020. Communication with the brain is also advancing at a rapid rate. By 2030 it is expected that robots the size of blood cells will be used in health care and that the brain will communicate on line with the cloud.

Solar energy advances are also significant so that it is more efficient and cheaper so more people can afford it. Here the economic benefit can double every two years. We will never run out of energy from the sun.

2015 Update on OCTANe—the Orange County Business Development Accelerator

Recently I attended the annual OCTANe Medical Device and Investor Forum which helps to accelerate business development in Orange County by driving technology industry growth and innovation. They do this by connecting ideas and people with resources and capital using their LaunchPad program to further new companies’ startup and growth through their evaluation and coaching by specially formed volunteer groups of experts in various facets of business and technology. They continue to be an innovation and commercialization catalyst to help drive the economic ecosystem in Orange County. Recently OCTANe is working with the law firm of K&L Gates and various venture firms to explore direct investment opportunities that could include a local investment fund to help support capital requirements of companies evaluated and coached by the LaunchPad process

My connection with OCTANE has only been over the last 10 years, but they continue to build on a successful 15-year heritage as a business development accelerator for early-stage and startup companies. During that time they have helped companies raise more than $1.1 billion. OCTANe continues to support early-stage companies through latter stages of operation via a new process that utilizes OCTANe’s network of almost 200 volunteer advisors. They have broadened their services by expanding their influence to help companies be formed and capitalized to achieve revenue and profit goals faster and with greater success. From my viewpoint I have noticed the increased growth and maturity of startup companies after they have been through the OCTANe Launchpad process

Expanded features of the OCTANe program includes a capital strategy with four parts that is designed to connect more entrepreneurs and investors during the funding process:

o Expand relationships beyond Orange County to attract investors that focus on funding med tech and high tech companies

o Align with corporate venture funds that invest in promising technology.

o OCTANe will also evaluate a new set of rules approved by the SEC to provide equity crowd funding for startups.

o Increase exposure to individuals with high net worth or angel investors from among the OCTANe network that includes board members and advisory committees. Explore additional opportunities for direct investments

LaunchPad’s current strategy focuses on working collaboratively with incubators and accelerators such as the Applied Innovation Group at UCI. It takes a team to develop an idea, build a business plan, and create a proof of concept to be competitive in raising funding in today’s business climate. Here OCTANe prepares the company for a capital strategy by taking advantage of predictive analytics and human interaction with experts from a variety of related fields. Now with expanded focus, OCTANe plans to continue support for companies during their growth, program development, and subsequent funding rounds. Then they plan to help companies through acquisition or IPO exit strategies

Updating Patenting Strategies 2015

Recently I attended a meeting where patenting strategies were discussed. Questions such as “What do entrepreneurs, business managers and engineers need to know to effectively and efficiently navigate the current patent system?” were discussed. The primary presenters were Andrew I. Kimmel and Michael A. Guiliana — both Partners at Knobbe Martens.

Andrew’s practice focuses on developing IP strategies, obtaining patent rights, analyzing risk, negotiating licenses and conducting due diligence investigations. He works with a wide variety of clients, both large and small, in the electrical engineering, software, and medical device fields. Andrew’s electrical engineering and software practice focuses on video coding, automatic speech recognition, medical electronics, RF therapeutics, cardiac rhythm management, wireless data transfer, optical and laser systems, processor control, physiological sensing, medical software, etc.

Michael’s practice focuses on patent protection, and other forms of intellectual property protection. His practice includes strategic patent procurement, patent portfolio management, general counseling on infringement and licensing issues, litigation, negotiations and alternative dispute resolution, as well as other related issues. He currently represents clients in a wide range of technologies, including medical devices, photovoltaic and thermal solar systems, automotive arts, etc.
Also a panel of successful business leaders from local tech companies shared their experiences. They talked about how to build a high value patent portfolio, avoiding common pitfalls, minimize costs, and how to use a well-executed intellectual property strategy to take command of new territory, defend market share, and increase a company’s valuation. Other discussion included the importance of protecting your inventions during the start-up process, key agreements for entrepreneurs, obtaining patents quickly, how granted patents can attract capital, and a case study of an extreme-value patent portfolio.

With respect to obtaining patents quickly, there is now a possibility to get a patent issued on a fast track by paying approximately $4k to shorten the time to as short as three months. This is fast compared to one patent I know about that is taking over seven years plus a lot of going back and forth.

Another strategy is to keep filing continuances to get additional patents as a product is further developed. As more details, novel features, and applications of a system are developed — new claims on the overall system can lead to new patents to keep competition from manufacturing and/or marketing your product. This strategy continues to add value to your organization.
It is also important to be “first to file”—and completely cover the potential scope of the invention in a preliminary patent. It is possible to widen claims later as one learns more about the invention. It may also be a good strategy to always have a patent pending to create a long chain of patents. Narrow claims are easier to defend so do not try to bit off more than necessary—and be rejected by the examiner—or worse yet in court. Your patent portfolio can be one of you most important assets.

UCI Applied Innovation Helps Entrepreneurs Grow Successful Businesses

At a recent meeting of the IMC Tech SIG at UCI Institute for Innovation we learned how the new UCI Institute for Innovation helps entrepreneurs grow successful businesses. This interdisciplinary center focuses on integrating research, entrepreneurship and technology. Partially funded by a $5 million endowment from the Beall Family Foundation, it incorporates UCI’s Office of Technology Alliances and functions as a focal point of corporate relations for industry-sponsored research. This center of over 30,000 square feet including the “Cove” has also become the single point of contact for helping students and faculty transform discoveries into practices and products that benefit society by co-locating entrepreneurs, accelerators, and incubators. It will also help corporate partners and business leaders interested in research opportunities by working with UCI’s spin-off companies, licensing technologies, and by providing other innovation-related interactions. After all the preliminary work as the Institute for Innovation it is now rebranding itself to be called UCI Applied Innovation.

Richard Sudek, PhD, Executive Director, was the main speaker. After receiving his B.S. in Computer Science from UCI, Sudek founded Nadek, a data networking design, implementation, and support firm. It grew from a small startup to a successful organization which he sold to SAIC before becoming an active angel investor, and Chairman Emeritus of Tech Coast Angels (TCA). Through TCA, he has screened in excess of 1,000 startup companies. He also serves as Research Committee Chair for Angel Capital Association (ACA), a national organization of angel groups representing over 8,000 angels. He currently sits on and has participated on boards of engineering and high technology companies and non-profits and his consulting activity focuses on CEO coaching, executive management development, and strategic planning for startups.

Richard completed a Ph.D. in Management at Claremont Graduate University. He has served as an advisor to many MBA programs, served as reviewer for the National Science Foundation, and has judged business plan competitions in the US and Europe. Additionally, he has taught entrepreneurship at Chapman University, The Drucker School of Management in California, INSEAD in France, and Rotterdam School of Management in Holland. Richard returned to UCI as the Executive Director of the Institute for Innovation in August of 2015.

Several new startup companies also shared their ideas for new businesses. After this we had a tour of the facilities. This new UCI Applied Innovation organization is creating real-world applications that will benefit the public and drive the local economy as a working community of students, scholars, industries, and entrepreneurs of innovation in Orange County by:
• Licensing UCI technology out to benefit of the business community with current research that has commercial value.
• Leveraging innovation resources on campus with help from the community by volunteer service providers.
• Connecting entrepreneurs to venture capital networks, seed funding sources such as Angel groups, and corporate strategic partner opportunities.
• Matching local businesses with faculty and students to create research opportunities leading to new products and/or new businesses.
• Creating relationships and connections across campus to link engineering, biology, medical, business, law, computer science, etc. in the solution of current problems.

It is planned to be an important center of innovation in Orange County by creating a vibrant, interconnected and self-sustaining community of students, scholars, and entrepreneurs working with experts from industry, service providers, Angels, and VCs. The result should be new business for Orange County and thousands of new jobs from a growing economy.

Cell Reprogramming for the Human Eye Retina

In many of the cases where vision is lost, the problem is often from malfunctioning retinal sensors and circuitry. Different disorders occur when particular, specialized cells in the circuit either stop working properly or die off. Despite the retina being more complicated than other components of the eye, it is hoped that if a source of new retinal cells can be developed, we may be able to replace the damaged or dying cells to repair the retina. In addition, this approach may also help to repair damage caused to the optic nerve.

Replacing cells, unlike obtaining electronic parts of a camera, is not easy. This is where stem cell and other cell reprogramming technologies will be necessary. Stem cells are a potential source of new retina cells and may provide a way to replace damaged cells. Many scientists are working with stem cell technology to provide the source of replacement cells. There are several types of stem cells that could be used in different ways, depending upon the particular disorder to be treated. For example, in the lab scientists have produced new cells from both embryonic stem cells and iPS cells. Several studies have now reported that embryonic stem cells other stem cells, and iPS cells can be turned into different types of retinal cells in the lab. The safety of embryonic stem cell-derived solutions for patients suffering from age-related macular degeneration (AMD) is being studied.

In the future direct repair of the retina may allow patients with lost vision to have it partially restored. This gives some hope for patients where light-sensitive photoreceptor cells in the retina have already been lost during age-related macular degeneration. This research is just emerging into potential clinical trials—so it not yet available. Here replacement of damaged cells may only be effective in patients who still have some sight from a working retina. Cell reprogramming technologies will improve the lives of people who suffer from visual disorders. Part of this work is about learning how different types of stem cells behave and how they and other cells can be programmed for use in the eye retina. Thera are a number of organizations currently developing methods to treat or help prevent a loss of sight.

For example at a recent “Bench to Bedside Research Symposium” at the Gavin Herbert Eye Institute and Discovery Center for Eye Research at UCI there was some encouraging research reported by several scientists. As part of the stem cell and other related activities related to eyes taking place at UCI there were encouraging papers presented by presented by Henry Klassen, MD, PhD – “Retinal Progenitor Cells for Treatment of Retinitis Pigmentosa” and Magdalene Seiler, PhD – “Retinal Progenitor Sheet Transplants to Restore Vision in Advanced Retinal Degeneration.”

There was also a recent Ophthalmology Technology Summit put on by OCTANe where the development of new companies and technologies were discussed by Orange County leaders in ophthalmology related business. Full development of useful treatments will take time, but there seems to be vision with financial interest in development of new technologies for treatment of eyes including the retina. During this development process there continues to be new developments and corresponding IP for future businesses to develop profitable eye repair products and procedures.

New Patent Reexamination Strategies

Patents have been contested throughout recent history so one has to be careful in research, filing preliminary patents, and using effective counsel to draft patents to make it difficult for anyone to contest a patent. Often something like a piece of prior art is missed along the way which gives opportunity for someone to make claims or even the whole patent invalid. Defending patents in court has become a way that large companies can dominate small startups that file something before they have adequately prepared for the defense that might be necessary in the future.

Recently I was privileged to participate in an Intellectual Property Roundtable at McDermott Will, & Emery where Inter partes review proceedings were discussed. Inter partes review was enacted on September 16, 2012 as part of the American Invents Act. It replaced a previous review procedure called inter partes reexamination. Here a request for patent reexamination could be filed by anyone, including Inventors, at any time during the period of enforceability of a patent. Requests for reexamination are often filed by those involved in an infringement lawsuit to invalidate the patent. If all the claims in the patent are rejected, the patent gets nullified.

To request a reexamination, one must pay substantial fees, provide reasons why the patent is invalid, provide copies of the prior art, and let the owner of the patent know that a request has been filed. If the USPTO finds that the request raises a substantial new question of patentability, the USPTO orders a reexamination by a new examiner and the patent goes through another examination. If claims are rejected the patent owner can narrow or cancel those claims. A patent owner can also request new claims no broader than the original claims.

During the round table we learned that Inter partes review proceedings under the America Invents Act (AIA) provide a powerful tool that could make more patents vulnerable to invalidation. For example, during the past year, the U.S. Patent and Trademark Office received more than 2,000 requests for inter partes review. Most (63%) petitions are in the areas of Electrical/computer, but there are significant amounts in Mechanical (24%), BioPharma (7.8%), and Chemical (3.7%). Recent applications of decisions indicate that this is a way of reducing litigation costs of from $1M to $3M down to approximately $0.3M or even much less if an early settlement can be obtained. This strategy and overall process still takes significant time and expense, but in many cases it is worth consideration—especially if new prior art has been found.

Creative Acceleration and Team Building to Help Entrepreneurs Grow Successful Businesses

At a recent meeting of the IMC Tech SIG we learned about how mentors and facilities of Fast Start Studios help local entrepreneurs start, grow and then operate successful businesses. Michael is the founder of Fast Start Studio, a new approach to Entrepreneurship/Accelerator mixed use incubator programs in Orange County. Victor, another speaker at the event, is on site HR advisor assisting in company teambuilding for emerging companies. More background information on our speakers:

Michael Sawitz, Chief Enthusiasm Officer, is founder and CEO of FastStartStudio, a business incubator that he started in Irvine, CA. He has also served as President and CEO of Amailcenter Franchise Corporation, the franchiser of AIAM Mail Centers, since its inception in 1985, and sold the brand in 2011. He continues to serve as CEO and Director of Michael Sawitz, Inc. which operates a sign center division and an equipment and fixtures division. Michael is also a commissioner at State Bar of California and on the Franchise and Distribution law committee and a Director member of the Tech Coast Venture Network. Additionally, he is Entrepreneur in Residence and Adjunct Professor of Entrepreneurship at California State University Fullerton Mihaylo School of Business and Economics.

Michael Sawitz has been a featured guest on radio talk shows such as Professional Insights, National public Radio, and California Grand Opening and has been a frequent speaker at Franchise Business Networks events and twice as featured presentation at the Technology in Franchising National Conferences, and has been the keynote speaker at the PC Synergy Conference. He has also been featured in nationwide publications such as Franchise Update and the Chronicle of Philanthropy and cofounded the National Alliance of Ship Centers.

As cofounder of Coder DoJo Orange county Michael has helped to provide a not-for-profit coding club for young people where over 300 children learn to code in HTML, Java Script, and other software languages. Also, he is a charter member of TiE (The Indus Entrepreneurs) Orange County, an organization founded in 1992 in Silicon valley to foster entrepreneurship globally through mentoring, networking, and education to develop our next generation of entrepreneurs.

Victor Bullara, the Breakthrough Results Coach® for Executives, has 35 years’ experience in HR including 19 in consulting (Ernst & Young, Hay Group, DDI). For the fourteen years just prior to founding his own consulting and coaching firm, he was Chief HR Officer for two high growth technology firms including one NASDAQ listed company and Director of HR for a $1 Billion firm. West Coast “guru” in assessment and selection; Winslow Dynamics Profile Certified Coach; Certified Assessment Center Administrator, Master Trainer. Certified Master Coach.

Victor has worked on major change initiatives for 21 Fortune 500 companies (PepsiCo, Boeing, Merck, Emerson), trained 1,500 leaders on Targeted Selection (behavioral interviewing) program, and created successful innovative leader assimilation programs. His specialties include: Assessment and Selection, Employee Engagement, Talent Management, Retention, Performance Management, Leadership Development, Succession Planning, and Executive Coaching. In addition he provides help for those in the Fast Start Studio.

During the presentations Michael told about the history and operation, provided a few successful startup examples, discussed future plans to continue to expand their operations, and how they use local people to help grow new companies. Using their own selection process, start-ups and early stage companies are invited to take part in the Fast Start Studio Accelerator Program.

These type of programs provide a success rate about 4X that of the SBA with their loan and related programs. New incubator business are given office space, support services, mentors and access to a host of subject matter experts, Angel funders, VCs, and other volunteers. The Fast Start studio Accelerator Program is designed to surround each start-up or early stage entrepreneur with consulting and resources focused on bringing the new company to the marketplace within a maximum of one year.

Victor dealt with typical problems and challenges of putting a team together. He dealt with evaluation and selection of team members including risks, 1099 issues regarding hiring of outside contractors, behavioral interviewing, and technical tools to help in the selection of ideal employees. He also had some good ideas the selection of board members in that they should be able to add something substantial to the business, give access to strategic partners, and then help grow the business.

The tour of the facilities was impressive with approximately 20 companies in progress. Out of these– there were three organizations that reported about their business. One is doing remote monitoring of bodies of water such as ponds or lakes using the web had received an offer of $1M. This company has some very large potential markets that have not been penetrated. Another company was collecting residues on gift card for charities and still another had some great ideas about marketing art by hundreds of artists on the web.

Michael’s incubator is designed to be self-sustaining with proceeds of sales going to support the startup of new businesses. They do not take equity and their objective is to put people to work. This incubator is one way Michael is giving back to our community.

Some Secrets of Creating and Realizing Accelerated Value

The following blog reflects on a meeting of the Harvard Business School Association of Orange County meeting at the University Club at UCI. Before this meeting I was not familiar with the speaker — Diosdado Banatao aka Dado. As an engineer, he is credited with developing several key semiconductor technologies and is regarded as a Silicon Valley visionary. Dado’s story is a truly inspirational rags to riches classic. —Dado’s academic background is not unique (B.S.E.E., cum laude, from the Mapua Institute of Technology in the Philippines and an M.S. in Electrical Engineering from Stanford University. Dado also held positions in engineering and general management at National Semiconductor, Seeq Technologies, Intersil and Commodore International. Then by his focused creative passion for solving computer problems he developed new products by strategically teaming early with good financial partners. This required a very good understanding of computer related market needs and the potential within specific markets. Because of this he had the opportunity to accelerate his unique creative applications.

For example, Dado pioneered the PC chip set and graphics acceleration architecture that continues to be two of the foundation technologies in every PC today. Because of Dado’s work in semiconductor chip design for the PC we have seen massive growth in Microsoft and others. His innovations in PC chipsets and architectural designs in graphics acceleration helped the exponential rise of personal computing that enabled the present information age. He is known as a game-changer in semi-conductors, the man who brought GPS to consumers, the innovator whose computer chips made “point and click” and other GUI possible, creator of the PCI Bus for “plug and play” for computer hardware, and the pioneer of the “PC chip” set that makes the internet possible. In addition Dado came up with the idea for first “fabless” semi-conductor company—which transformed that entire industry by making it possible for small players to enter the market – this creative work to solve customer problems has accelerated technological advances in semiconductors and has created accelerated value during this processes.

Presently Dado is the managing partner of Tallwood Venture Capital. His past experiences as an entrepreneur provides Tallwood with a unique perspective in technology acceleration by investments in unique and hard-to-do semiconductor technology solutions for computing, communication, and consumer platforms. Prior to forming Tallwood, Dado was a venture partner at the Mayfield Fund. Before this he co-founded several technology startups. For example: S3 (SBLU), went public in less than five years, and become the third most profitable company in the world, and then sold to Intel for over $300 million less than five years later; Chips & Technologies (INTC) made over $12 million in revenue in its fourth quarter from start up. His second start-up IPO had revenues of over $650 million in less than four years and he also formed a small start-up with less than 20 employees and sold it for over $1 billion.