Approval by the Educational Policy Committee and the Board of Visitors. Approval to enter into contracts with Directed Vapor Deposition International, Incorporated. The University of Virginia is negotiating a contract with DVTI, Incorporated, a Delaware start-up company created in June 2000 to commercialize University of Virginia intellectual property in the field of vapor deposition. Each of the three faculty members owns more than 3 percent equity in the company. The contract would reimburse the University for the use of an advanced vapor deposition device to permit DVTI, Incorporated to test some commercial samples.
Fiscal impact is negligible.
However, successful commercialization of this technology could provide substantial returns to the University from royalty income. It is recommended that the Board of Visitors permit the University to negotiate and enter into the proposed contract with DVTI, Incorporated to test samples of commercial materials. The Vice President and Provost will use this portion of the Educational Policy Committee to inform the Board of Visitors of recent events of which the Board should be made aware. The Vice President and Provost will introduce The University's Chief Planning Officer, Ms. Laurie P. Kelsh, who will brief the Board on the progress of the Virginia 2020 Commissions. The Vice President and Provost will introduce the Chair of the Faculty Senate, Ms. Patricia H. Werhane, who will give a report to the Board on the Senate's accomplishments during the fall semester.