HOW TO FACILITATE COMMERCIALIZATION OF YOUR INNOVATION

10 THINGS TO REMEMBER WHEN ATTRACTING INDUSTRY TO YOUR INNOVATION AND RESEARCH PROTECT YOUR IDEA Before talking to industry, Commercialization (OTC) to discuss the use of a non-disclosure agreement (NDA). Details at z.umn.edu/ndamta

FIND OUT WHAT INDUSTRY NEEDS Listen to their needs, desires and frustrations which could lead to new research opportunities.

BE PROACTIVE Seek out opportunities by interacting with companies at various events and by publishing papers. Most technology licenses and sponsored research result from your networking

PROMOTE INNOVATIONS ON YOUR RESEARCH GROUP’S WEBSITE List your licensable technologies on your website. Include links to technology descriptions on OTC’s site and to related publications.

PREPARE A COMPELLING PITCH Explain your idea simply in less than a minute. Include the problem it solves

EXCHANGE BUSINESS CARDS Get their information and promise to follow up with them soon. While they may not be interested in your latest innovation, they may be valuable contacts in the future. Also, point interest to license.umn.edu

than current solutions. (see back of handout) KEEP IT SIMPLE Don’t get too technical when discussing your innovation with people who are not experts in your partner will understand the science behind your solution. SHOW ENTHUSIASM It is your idea and you believe strongly in it. Share that enthusiasm

KEEP OTC IN THE LOOP Share contacts and other information you learn with OTC, who will follow up on potential commercial partnering opportunities. Also let OTC know about technical advances and published papers. STICK WITH IT Developing industry relationships and the commercialization process takes time and commitment which requires patience and perseverance. OTC will partner with you throughout the process.

www.research.umn.edu/techcomm | [email protected] | 612.624.0550

HOW TO FACILITATE COMMERCIALIZATION OF YOUR INNOVATION PITCH YOUR INNOVATION IN 1 MINUTE WHAT YOU NEED TO COVER

PROBLEM SOLVED

MARKET POTENTIAL

BRIEF DESCRIPTION

APPLICATIONS

ADVANTAGES OVER CURRENT SOLUTIONS

INTELLECTUAL PROPERTY (IP) PROTECTION STATUS

DEVELOPMENT STAGE

WHAT ARE YOU REQUESTING

(NON-CONFIDENTIAL)

EXAMPLE (FILL IN THE BLANK) Our lab has created a technology that solves the problem of Our solution is a new

that is

brief description

than current solutions. We have

X% better/stronger/faster

(eg. developed a prototype,

development stage

completed in vivo testing, etc.). We estimate that the annual market for our technology is $ and our technology can be used for the following protected with looking for

patents/copyright/trademarks request

.

problem solved

applications countries

market

. Our technology is . Our team is currently

to help bring this innovation to market.

NOTES

© 2014 Regents of the University of Minnesota. All rights reserved.

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