Faculty Entrepreneurs: Creating a Spin-Off or Start-Up Company

There are two basic routes to take an invention that arises from university research into commercialization: the more traditional process of licensing rights to an existing company and the relatively new process of the formation of a new start-up company. These documents outline the steps and issues involved with creating a spin-off or start-up company and show how a clear understanding up front provides for smoother sailing later.

1. Commercialization via Start-up Company - how the Technology Transfer office staff can assist the academic entrepreneur to plan and launch a start-up company while acting to minimize the risks involved.
2. The Check List - describes many of the real issues that need to be solved by the inventor and the Technology Transfer Office staff.
3. The Conflict of Interest Identification and Resolution Documents - provides mechanisms for action to resolve certain situations.
4. The Business Opportunity Document (BOD) - a key marketing document that the inventor and Technology Transfer staff create together to describe the business opportunity.
5. Start Up Company Term Sheet - outlines terms normally found in FSU licenses with such companies.

After the OIPDC staff have addressed the issues covered in these documents (usually 1-2 meetings) the path to commercialization is much clearer, the necessary action items identified and an implementation plan underway.

We look forward to working with you to promote the transfer of technology for society's use and benefit while generating unrestricted income to support research and education within FSU and provide compensation to the creator for undertaking the risk of commercialization. Read how a researcher created her own company, Quantigraphics, over time. (Taken from the University of Washington's publication on start-up companies and collaborations, Ventures)

Please call us at the OIPDC office at (850) 644-9318 with comments on these documents or to discuss you questions and ideas about starting a spin-off company.