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.
Funding
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.
Market Discovery
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.
I-Corps is a federally supported, intensive program to train and guide scientists and engineers through the customer discovery process. Originally created by the NSF in 2011, a version has since been developed by most federal funding agencies for their grantees. Contact the OTL if you would like to learn more, or if we can help you in building an I-Corps team, or in the application process.
FedTech connects entrepreneurs to technologies developed across national labs and universities. Entrepreneurs are paired with lab partners/inventors to serve as founders. Teams work closely with teaching and mentor teams and are taken through modules on lean startup, business models, product development, customer discovery, intellectual property and licensing, funding strategies for spinning out R&D, pitch skills, and more.
People
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
is a spinoff from the Ivy Tech group that provides a highly curated matching service for serial entrepreneurs who are looking for new venture opportunities, and university spinouts that are looking for a commercial lead. Princeton has maintained an active engagement with the program since its inception.
Princeton University’s Office of Technology Licensing offers the services of Executives in Residence (XIRs), who are available to provide advice to faculty, students and staff who have discoveries in science and technology that could be used to create products and services to solve critical societal challenges and unmet needs. The creation of these societal benefits is a primary government objective for academic research. Each XIR brings to the position experience in leadership, business development, technology transfer and entrepreneurship in addition to their own network of entrepreneurs and industry experts.
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Administration
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