Mentor Adds 25 Years of Experience to UA Commercialization Team
To address the growing number of inventions Tech Launch Arizona is evaluating for commercial applications, as well as to help University of Arizona startups develop successful strategies and teams, the office has hired entrepreneur and executive Steven Wood, making him the fourth member of its team of Mentors-in-Residence.
Tech Launch Arizona, or TLA, is the office of the UA that commercializes inventions stemming from University research. Mentors-in-Residence – paid members of the TLA staff – are seasoned technology entrepreneurs with track records of success who advise teams and the UA research community, helping to develop the pathways for early-stage technologies and cultivate them into successful products and ventures.
Wood brings 25 years of startup and executive management experience to the University of Arizona’s technology commercialization enterprise.
“Having started two companies and been part of a number of others, I’m excited to bring those experiences to the table and help guide others down that path,” he says.
In addition to starting with a great product or service, he says, the path to success requires building a solid business and a customer base who will advocate on your behalf. Building that faithful customer base is Wood’s strong suit.
“In the end,” he says, “it’s about getting a following from people who are going to spend their hard-earned dollars on your product, and turning them into advocates for your business.”
Wood received his electrical engineering degree from Northeastern University in Boston. Through a co-op (which is similar to an internship) with the Massachusetts Institute of Technology, he worked as a systems engineer for RCA Aerospace Systems.
He continued his education receiving both undergraduate and master’s degrees in business administration.
Entering the workforce, Wood partnered with the founders of Powercube Corporation a Billerica, Massachusetts, electronics designer. As vice president of operations, Wood helped grow the company, and it was later acquired by semiconductor company Unitrode Corporation. He led the division in revenues and profits, and was promoted to vice president and general manager at Unitrode, which acquired several other companies during his tenure.
Wood, along with three partners, then founded Power Convertibles Corporation, a Tucson, Arizona-based power electronics company. Tripling the revenue base in two years, the business expanded worldwide. Wood along with other executives from Burr Brown, a major shareholder, sold the business to C&D Technologies, which continues to sell the products today.
Other TLA Mentors-in-Residence include: Mike Sember, an entrepreneur and executive with over 40 years of experience in the pharmaceutical industry; Bruce Burgess, an expert with 30 years of experience in medical devices, diagnostics and drug delivery products; and Kevin McLaughlin, who brings over 30 years of experience commercializing physical and engineering technologies.
TLA supports startup efforts from across the UA. According to Joann MacMaster, director of business development, Mentors-in-Residence bring relevant entrepreneurial experience along with a depth and breadth of knowledge that spans a full range of industries and technologies, helping the office to better prepare startups for long-term success.
“With his background and experience, Steve is a fantastic addition to our team,” she says. “We are extremely fortunate to have a group of such high caliber executives helping our startups get off the ground.”
Image: Director of Business Development Joann MacMaster and Mentor-in-Residence Steven Wood. Photo credit: Paul Tumarkin/Tech Launch Arizona.