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Full Description
The pathway to bringing laboratory discoveries to market is poorly understood and generally new to many academics. This book serves as an easy-to-read roadmap for translating technology to a product launch - guiding university faculty and graduate students on launching a start-up company.
• Addresses a growing trend of academic faculty commercializing their discoveries, especially those supported by the National Science Foundation and National Institutes of Health
• Offers faculty a pathway and easy-to-follow steps towards determining whether their discovery / idea / technology is viable from a business perspective, as well as how to execute the necessary steps to create and launch a start-up company
• Has a light-hearted and accessible style of a step-by-step guide to help graduate students, post-docs, and faculty learn how to go about spinning out their research from the lab
• Includes interviews by faculty in the disciplines of materials science, pharmaceuticals, medical devices, information technology, energy, and mechanical devices - offering tips and discussing potential pitfalls to be avoided
Contents
Dedication ix
Foreword xi
Preface xiii
Acknowledgments xv
About the Author xvii
1 So, You Have a Game-Changing Discovery... Congratulations! 1
Brief Review of Academic Entrepreneurship 3
State of University Technology Transfer 5
Study of Academic Entrepreneurship 7
Academic Start-Ups Are "Early Stage" 8
Overview of the Process 13
Summary 18
References 18
2 Now What? Protect Your Intellectual Property 21
Types of Intellectual Property 22
Patent 22
Trademark or Service Mark 23
Copyright 23
Trade Secret 23
Patenting and Public Disclosure Considerations 25
University Patenting Process 27
The Anatomy of a Patent 34
How to Read a Patent 42
Summary 43
References 43
3 Are They Buying What You're Selling? The Search Phase 45
Example 48
Example 51
The Value Proposition 54
Summary 56
Reference 56
4 Friend or Foe: The Tech Transfer Office and Licensing 57
License Agreements with Existing Corporations 58
Example 58
University IP Licenses to Start-Ups 62
Summary 70
References 71
5 Proof-of-Concept Centers: Bridging the Innovation Gap 73
Proof-of-Concept Centers (POCCs) 77
SBIR/STTR Programs 83
Summary 86
References 86
6 Start-Up Management: You've Got to Kiss a Lot of Frogs... 87
Founders Term Sheet for RegenLive 99
Management Structure 102
Directors (Board of Directors) 102
Board of Advisors 105
Consultants 105
Subcontractors 106
Employees 108
Summary 110
References 111
7 Graduate Students and Postdocs, Start Up Your Career 113
Introduction 113
Why Do It? 114
Challenges and Opportunities Spinning Out from the University for Students 116
Faculty Member Participation 119
Faculty Member Not Participating 122
None of the Above 123
Formal Education 123
Business Plan Competitions...Not Just for Undergrads 125
Conclusion 126
References 127
8 Incubators and Accelerators: It's Time to Move Out 129
Incubators 130
Accelerators 136
Summary 140
References 140
9 Do You Believe in Angels? Financing Your Company 143
Business Plan 143
Finding Investors 149
Friends and Family 150
Local Incubators/Accelerators 150
Economic Development Organizations 151
Individual Angels 151
Angel Investor Groups or Networks 153
Corporate Investors 154
Crowdfunding 155
Equity Crowdfunding 157
Academic Crowdfunding 160
Venture Capital 162
University Venture Capital 165
Sample Problem 168
Building and Expanding Value for the Academic Founder 171
Summary 174
References 175
10 Your Roadmap: Avoid the Potholes 177
How to Create a Successful Company 183
Example 1: Uber 183
The Concept 183
Market Research 183
Intellectual Property 184
Proof of Concept 184
The Team 184
Financing 184
Challenges for Uber 185
Example 2: Genentech 185
Discovery 186
Intellectual Property 186
The Team 187
Market Research 187
Financing 188
Summary and Going Forward to Your Successful Venture 190
References 191
Suggested Reading 193
Key Terms 195
Index 199
