Collaboration, Business Advice, Spawn Technology-based Firm
Dr. Barbara Israel of the UW-Madison School of Veterinary Medicine displays a viral diagnostic tool. She and her business colleagues at Platypus Technologies LLC, expect to have a fully functioning laboratory in an expanded business incubator at Madison's west side University Research Park by spring 2001.
Viruses beware! Barbara Israel and her colleagues believe they have a better, faster and more universal way of detecting you, and they've started a business to move their technology into the marketplace.
Dr. Barbara Israel of the UW-Madison School of Veterinary Medicine displays a viral diagnostic tool. She and her business colleagues at Platypus Technologies LLC, expect to have a fully functioning laboratory in an expanded business incubator at Madison's west side University Research Park by spring 2001.
Israel is a scientist with the UW-Madison School of Veterinary Medicine. She has joined with two UW-Madison faculty to form Platypus Technologies LLC, a company focused on rapid diagnostics for viruses that attack animals and humans. Her colleagues are Nicholas Abbott, a chemical engineering professor in the College of Engineering, and Christopher Murphy, professor of veterinary medicine.
Abbott and Israel enrolled in a pilot business planning course the Small Business Development Center (SBDC) offered in June for entrepreneurial scientists and engineers. "We had a total of 27 people enroll in this program on very short notice," said Jack Reiners of the SBDC. It focused on the development resources available to people with technology-based business ideas.
"This is an example of what we want to do more of. We need to support start-up and expansion of high-technology companies, and stimulate university, industry and financial community partnerships as part of Wisconsin's "New Economy", said Erica Kauten, state director of the UW-Extension SBDC.
"The course exposed us to looking at things in a way that we were not familiar with. It gave us a feel for the language of business," said Israel. She and her colleagues have also taken advantage of the SBDC's individualized business counseling services to review their preliminary business plan.
"It's an intimidating prospect to start a high-technology business, but the resources are in place," said Israel. "It gives me confidence to follow other UW biotechnology spin-offs, and to have watched their success rates."
Platypus Technologies was formed in April 2000. It has two Small Business Innovation Research (SBIR) proposals pending for the study of the West Nile Virus, which may be spreading from the eastern United States with migratory birds. Its principals expect to know if the proposals will be accepted about the first of the New Year. The SBIR program is underwritten by the federal government to stimulate aggressive transfer of cutting-edge technology.
Israel said that she and her colleagues also have patent applications on some their work pending through the Wisconsin Alumni Research Foundation (WARF). Meanwhile, they are running their business with personal funds. "We want to attract angel investors as soon as our formal business plan is complete."
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