Commercializing Deep Tech With Richard Amato and Jay Fraser

What does it take to bring groundbreaking, high-risk technologies from the lab to the market? Today we dive into the world of deep tech commercialization, where the journey from invention to impact is as complex as the technologies themselves. Joining me are two experts with years of experience in this field. 

Richard Amato, Executive Director of the Austin Technology Incubator (ATI) at the University of Texas, and Jay Frazier, President and CEO of New Dominion Enterprises. Together, they uncover the unique challenges and opportunities inherent in deep tech, also known as hard tech—an area defined by innovations based on cutting-edge scientific discoveries.

Richard leads ATI, the longest-running deep tech incubator in the country. Affiliated with UT Austin, ATI has a history of fostering disruptive technologies that require extensive R&D, substantial investment, and unwavering persistence. With decades of experience under his belt, Richard shares insights from his work, which includes founding the Clean Energy Incubator at ATI and launching his own alternative energy company. 

In addition to his leadership role, Richard serves as faculty at UT Austin’s McCombs School of Business, where he continues to nurture the next generation of tech entrepreneurs. For him, deep tech is all about pushing boundaries, whether it’s in clean energy, medical devices, or the latest advancements in microelectronics.

Jay’s company specializes in developing safer lithium batteries using licensed federal technology, and brings a unique perspective on the commercialization process. With a background in marketing, R&D, and years of experience navigating the tech transfer ecosystem, Jay emphasizes the vital role of mentorship and advisory support from organizations like ATI. 

Richard and Jay offer a candid look at the grit and determination required to bring transformative innovations to market. Tune in to discover the resilience and tenacity behind some of today’s most advanced technologies.

In This Episode:

[03:09] ATI was launched 35 years ago. We discuss how it's changed and evolved over the years. In 2001, the clean energy incubator was launched.

[04:44] They've also launched a healthcare incubator and microelectronics incubator. 

[05:06] There's now a focus on R&D and technology.

[05:42] Deep tech is often hardware-based and comes out of a lab. It's also something that will take longer to get to market.

[07:32] We learn about TXVMS.

[08:53] New Dominion was started because Jay's previous company had a relationship with Idaho National Laboratory under a defense contract.

[10:02] Relationships are everything in technology transfer.

[12:21] It's challenging for small companies to license when working with federal laboratories

[17:23] We go over the multiple challenges of commercialization.

[19:26] Deeptech has a heavy high capital cost and a long time to market.

[21:18] The importance of understanding the motivation of the scientist in the first place.

[22:54] Richard talks about dealing with younger entrepreneurs. The age doesn't matter, but coachability does.

[26:34] With an incubator, it's the job to de-risk and get to market as soon as possible. This often leads to working with brutal honesty.

[28:36] Richard has been on both sides and sometimes the most important part is the psychological piece.

Resources: 

Richard Amato

Richard Amato Clean TX

Richard Amato ATI

Jay Fraser LinkedIn

New Dominion Enterprises, INC

Texas Venture Mentoring Service TEXVMS