EXECUTIVE DIRECTOR – TEXAS INNOVATION CENTER
Van Truskett is a renowned and dynamic leader with a vision for innovation, technology commercialization, and entrepreneurship. She is the founder and executive director of the Texas Innovation Center at the University of Texas at Austin, where she plays a critical role in nurturing entrepreneurial and innovative spirits among students and faculty. Her expertise lies in bringing together diverse stakeholders to promote economic growth by translating scientific breakthroughs into practical applications.
Van is a driven, creative, and passionate individual who is approachable and supportive, making her an excellent mentor to those she works with. She inspires and motivates people to think creatively and strive to reach their goals.
Below are highlights of the interview conducted between World’s Leaders and Van Truskett:
Describe your background and what did you do before you started/joined the organization?
Dr. Van N. Truskett has a track record of innovation, leadership, and attainment of business results in nanoimprint lithography, addressing its introduction to semiconductor and hard disk drive applications. She played a critical role in a team, developing a startup, Molecular Imprints, into an enterprise that Canon acquired in 2014 to form Canon Nanotechnologies, serving as Director of Jetting Technology.
She was instrumental in releasing over ten nanoimprint lithography products and over six cutting-edge inkjetprinting products. She has over 50 patents (U.S. and international) constituting the core technology . She is currently the Executive Director of the Texas Innovation Center at the University of Texas at Austin, helping lead innovation, new ventures, and technology commercialization for the institution.
In 2016, she was awarded the Edith and Peter O’Donnell Award in Technology Innovation from the Academy of Medicine, Engineering, and Science of Texas. The O’Donnell Award is the most prestigious state award recognizing Texas-based researchers for their pioneering work. As of 2020, she was inducted to be a Fellow of the National Academy of Inventors.
Dr. Truskett received her Ph.D. from Johns Hopkins University and her B.S. from the University of Texas at Austin, both degrees in chemical engineering.
Tell us about the inception of the Texas Innovation Center. How did it all start?
Launched in January 2020, the Texas Innovation Center (TxIC) creates and fosters a community for collaborative research and entrepreneurship in support of technology commercialization for the University of Texas at Austin (UT Austin). Serving as UT Austin’s venture studio for launching engineering and scientific discoveries and technologies to market, the TxIC does this by providing entrepreneurship education, startup resources, a network, and innovation funding to all faculty, graduate students, and postdocs from all 18 colleges across campus (including 12,000 graduate students and 3,500 teaching faculty).
The TxIC is based out of the Cockrell School of Engineering (CSE) and collaborates with the College of Natural Sciences (CNS) and the Discovery to Impact unit at UT Austin. Together, these stakeholders focus on moving translational research and intellectual property V 03 04 from departments and colleges into the global marketplace.
Since launch, the venture-building studio has helped grow a portfolio of 50 over deep tech startups, spanning across 10 different industries, including advanced materials, energy, healthcare, and more. Combined, these companies have raised over $160 to $200 million.
The Texas Innovation Center actively works to build and scale crossdisciplinary programming, communitywide events, and access to startup capital throughout the entrepreneurial ecosystem. With a focus on deep tech startups, the Center’s primary audience remains faculty and graduate students (M.S. and Ph.D.) from campus research classrooms and labs.
The Center was created on the backbone of being housed at a worldrenowned public research university. The University of Texas at Austin is No. 1 among U.S. universities in research financed by the National Science Foundation (NSF 2020). Its licensing revenues over the past 10 years have been $166.73 million, and it’s issued over 1,200 U.S. and international patents in that timeframe. UT Austin is also #5 in research financed by the Department of Defense and #8 by the Department of Energy.
What has made you successful? What do you value?
Dr. Truskett’s success can be attributed to her extensive experience in entrepreneurship, technology transfer, and the commercialization of university research. She values collaboration, innovation, and empowering academic entrepreneurs and innovators to turn their ideas into successful ventures. Her leadership skills, experience, and knowledge have helped her build a culture of innovation and excellence, and achieve significant results in the startup ecosystem.
What are the most important aspects of a company’s culture? What principles do you believe in and how do you build this culture?
Dr. Van Truskett understands that fostering a strong and vibrant culture is essential for success. Texas Innovation Center’s culture revolves around collaboration, innovation, and a growth mindset.
TxIC values open communication, teamwork, and the collective knowledge that emerges from diverse perspectives. By creating an inclusive and supportive environment, the center cultivate and harness the power of collaboration to drive our innovation forward.
TxIC encourage team members to think outside the box, embrace creativity, and push boundaries. Integrity is a fundamental value that underpins TxIC’s culture and helps to build strong relationships and positively impact stakeholders.
By fostering a growth mindset, the center creates an environment where individuals can thrive, unlock their full potential, and contribute to the collective growth of the center.
What is the significance of innovative ideas in the organization?
Innovative ideas are essential in a university organization, driving growth and advancement.
These ideas improve education by promoting new pedagogical approaches and interdisciplinary collaboration, which enhances student engagement, critical thinking, and learning outcomes. They also drive groundbreaking research, inspiring exploration of new frontiers and complex challenges.
In addition, innovative ideas impact administrative functions, adopting efficient systems, data-driven decisionmaking, and streamlined operations to simplify workflows and enhance communication.
Overall, innovative ideas fuel progress and transformation in universities, shaping futures and experiences.
Give us your opinion on; do organizations rely heavily on individual heroics or team processes?
Organizations should strike a balance between individual heroics and team processes. While individual heroics can result in extraordinary achievements, team processes enable individuals to work together towards a common goal, share ideas, and leverage each other’s strengths to achieve sustained success. Striking the right balance between individual contributions and teamwork fosters creativity, collaboration, and success in today’s competitive marketplace.
What are your responsibilities as a principal of the organization? What is the happiest part of your daily routine?
As Executive Director, my day-to-day includes working with our startups, fundraising, and meeting with stakeholders. My happiest moments are talking with our students and researchers, learning about the frontier technologies that they are working on, and thinking through with them the pathways to transform this into a product that leads to worldwide adoption.
What advice would you give someone going into a leadership position for the first time?
For first-time leaders, listening, learning, and communicating effectively with their team is essential. Focus on building strong relationships, developing trust, and empowering your team to achieve their goals. Be open to feedback and willing to make adjustments to your leadership style. Set clear expectations, delegate tasks, and provide feedback to your team. Lead by example, be transparent, and demonstrate integrity in your actions. Remember that leadership is a journey; continuous learning and self-improvement are essential for long-term success
