University of Rochester

Board Formed to Advise on High-Tech Inventions

December 23, 1998

The University of Rochester has formed a board to advise the institution in its efforts to commercially develop high-tech inventions and innovations made by researchers in the University's laboratories.

Chaired by Paychex founder and CEO B. Thomas Golisano, the nine-member Technology Transfer Advisory Board is comprised of area business leaders with broad expertise in starting new companies. The members bring experience in areas such as developing business plans and finding venture-capital funding for new companies, assessing the market value of new technologies, and negotiating contracts and licensing agreements.

"In addition to educating students, part of the University's mission is to create new knowledge that benefits society," said Josť J. Coronas, special assistant to the president for corporate relations at the University of Rochester. "When that new knowledge takes the form of an invention, people don't benefit from it until it becomes a commercial product that is manufactured, marketed, and sold. The people who have agreed to serve on this advisory board are all entrepreneurs who have a wealth of expertise in shepherding new inventions and innovations into the marketplace."

Several companies in the Rochester area were originally established to commercially develop inventions and innovations made by researchers at the University-among them vaccine-maker Wyeth-Lederle Vaccines and Pediatrics, and the optical design and manufacturing company Rochester Photonics, both located in Henrietta.

"The University of Rochester has tremendous potential to contribute to the economic growth of the community," said Golisano. "All of us on the advisory board are eager to assist the University's efforts in that regard."

Other members of the Technology Transfer Advisory Board are Samuel T. "Tom" Hubbard Jr., formerly of Alling & Cory; Mike Jones of Clover Capital Management; William J. Stolze of Harris Corporation; David A. Lovenheim of Harris, Beach & Wilcox; Doug Stark of Stonehurst Capital; Robert W. Loss, Jr., M.D. of Dermatology Associates; and E. Philip Saunders of Sugar Creek.