The University Start-Up
The University Start-Up
Characteristics and Context
A university startup has a number of characteristics, many of which are common to any startup. Central to the startup is the business model, the mechanism by which the company will create, market, and sell products and services in exchange for money from the customer. In addition, university startups involve many discrete operations including technology development, product development, sales and marketing, and manufacturing. The university startup is set in the context of an ecosystem composed of the university, people, and money. The university provides the innovation, usually in the form of intellectual property by way of a license, around which the startup is formed. People provide the expertise, management, judgement, decision-making, advice, and connections essential for launching and growing a startup. Money is the fuel to build the startup. It comes in two basic forms: dilutive and non-dilutive. The former involving a sharing of the company ownership and the latter not.
Keywords: Technology Development, Product Development, SBIR, Dilution, Funding, Venture Capital, Angel Investing, Management, Advisor
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