- IP to Startups
- Biomedical Research Cores
The successful commercialization of novel technologies requires the coupling of scientific/technical expertise with entrepreneurial experience and drive. The Rutgers Entrepreneur-in-Residence (EIR) program aims to increase the probability of success of Rutgers start-ups, by pairing scientific teams with experienced business founders. The program engages seasoned entrepreneurs who are proactively looking to start, and run, a new venture for the purpose of commercializing promising Rutgers technologies. EIRs are given access to both the complete portfolio of Rutgers technologies and the inventors behind those technologies. Each EIR is encouraged to identify a promising technology in his/her areas of expertise, and team up with the inventor/s to become the management nucleus of the start-up.
At any given time, the EIR program engages several EIRs with different areas of expertise. EIRs work closely with the Research Commercialization group to identify Rutgers technologies that have commercial potential and can be used as the nucleus for a start-up company. The main goal is to launch a NewCo and remain as the business leader at least until the start-up obtains meaningful funding.
EIRs are expected to engage in the following activities:
- Evaluate Rutgers IP assets as potential core for a new start-up;
- Choose the technology they think is the most commercially viable;
- Develop—in partnership with the Rutgers inventor(s) and staff—a business plan, a funding plan, and R&D roadmap for the chosen technology;
- Constitute the startup;
- Negotiate—on behalf of the startup—for a license to the IP from Rutgers; and
- Lead the start-up’s fundraising and product development activities.
Interested in becoming an RU EIR? (please contact Luis Ahn)
While EIRs may come in different ‘shapes and colors’, we believe the following EIR characteristics maximize the likelihood of success of the startup:
- Track-record as an entrepreneur and executive.
- Experience building successful partnerships with academic teams (either in startup, licensing, sponsored research, or other capacity).
- Strong drive to be in an entrepreneurial environment.
- Experience in raising dilutive and non-dilutive capital.
- Extensive professional network.
Daniel is an experienced Enterprise software CEO with a track record of success building, growing and exiting global technology companies. Daniel was also a founding partner of New Venture Partners, a venture capital firm with $700 million under management (formerly Lucent New Ventures)…