- Development risk. Often large companies in established industries are unwilling to take the risk for unproven technology.
- Development costs versus investment return. Can the investors in the startup obtain their needed rates of return?
- Potential for multiple products or services from the same technology. Few companies survive on one product alone.
- Sufficiently large competitive advantage and target market.
- Potential revenues sufficient to sustain and grow a company.
- Have a protected product or process that is new and/or superior to anything currently in the marketplace
- Create a full-time management team well versed in startup and business operations
- Recognize that an inventor or an academician may not be an effective business manager
- Gain access to sufficient capital and adequate facilities
- Obtain long-term commitments from venture capitalists and management
- Utilize available, low-cost, experienced business assistance
- Have some amount of good luck
The general process for the selection of potential technologies for a university startup includes a review of inventions based on criteria such as:
- The market size (at least $300 million preferred)
- The technology can be adequately protected through patents, copyright or trademark to create barriers that make market entry difficult for competitors.
- The technology is scalable.
- The estimate of the net present value of the return (less the costs of getting the business going) is much greater than the value that can be obtained by executing a typical license with an existing company.
- Is a prototype/proof of concept available?
- Do the inventors have a reasonable understanding of what is required to build a business, and what their roles may be?
- Does the business model have a visible path to profitability?
- Are the initial management and financing needs reasonably clear?
TCS resources for small technology businesses include:
- Faculty consultants
- Information about scientific research
- Specialized equipment
- Product development resources
- Qualified student employees
- Incubation space and services
- Collaboration on grant proposals
When faculty is involved in the inventive process with an incubator company the question is more complex, and TCS should be consulted.
You can contact any of our team members by visiting the Contacts page
Disclosing your Invention / Licensing a UConn Invention, please contact
Greg Gallo, Director of Technology Transfer, at email@example.com
Starting a Company / Venture Development, please contact
Mostafa Analoui, Executive Director, Venture Development, at firstname.lastname@example.org
Business Incubation / Technology Incubation Program, please contact
Paul Parker, TIP Director, at email@example.com
General Inquiries, please contact
Paige Rasid, Technology Commercialization and Industry Relations Coordinator, at firstname.lastname@example.org