To create products and services that have real impact, for some inventions, the best path to take may be to form a start-up company rather than pursuing a licensing strategy to an existing company. At Princeton's Office of Technology Licensing, we can assist inventors with all aspects of start-up formation, including funding, recruitment, market discovery, IP strategy and company administration. We can also advise inventors on University policies concerning conflict of interest, equity distribution and participation in the company while on the faculty.
There are multiple funding options - internal, federal & private - to help get a startup company off the ground. A summary of the most common sources can be found here, but we are available to discuss and advise on funding strategies, and make introductions when appropriate to our network of investors.
An absolutely crucial element of successful new venture creation is the market discovery process. Understanding how the market operates, its needs and tolerances, and the precise market problem that the company is trying to solve is every bit as important a determinant of startup success or failure as the underlying technology itself. And there is no substitute for direct contact with industry professionals and experts. The OTL can help you in planning and executing a robust market discovery process - we can provide contacts through our wide network, and in some cases can engage expert consultants to assist with the project.
Every investor will say that the first thing they consider when evaluating a startup is the people involved. Many successful university startups complement the scientific expertise of the founding team with external commercial experience.
If you are looking to supplement your startup team with additional team members - whether through finding a co-founder, a CEO, a board member, or simply seeking experienced mentorship - then the OTL is always more than happy to make introductions to our broad entrepreneurial network
There are, of course, a number of administrative steps in the development of a successful new venture
If you need help or support in incorporating a company vehicle, legal support, insurance, accounting or similar, the OTL maintains relationships with multiple local service providers, and can provide recommendations and make introductions to fit the needs of your startup