Process for Creating a Rutgers Startup

 

  • Identify Startup Opportunities – New Ventures (NV) works closely with ORC Licensing Managers in consultation with faculty and industry experts to evaluate the potential for select Rutgers technologies to be commercialized as a startup company. During that evaluation, we help identify any relevant Rutgers-owned intellectual property for licensing.
     
  • Form Startup Team – NV works to help establish the right team of individuals to be successful founders of a new university-based startup. Many times, NV assists faculty with finding a business founder with essential industry or entrepreneurship experience. Sometimes, NV works with entrepreneurs who are seeking their next big opportunity, but who need to identify the right scientific advisor. NV also has the ability to provide information for a long list of service providers including design firms and accounting firms. At a minimum, a startup team would comprise of a business founder and a chief scientific advisor, and would have access to financial and legal counsel.
     
  • Negotiate License – Negotiations for a license of Rutgers’ intellectual property rights should initiate from the startup team’s business founder. Once negotiations progress, any Rutgers faculty and staff who are part of the startup team (i.e. equity owners) should undergo a Conflict of Interest (COI) Review. During negotiations, it is important that any Rutgers faculty or staff involved should not negotiate on behalf of the startup.
     
  • Raise Funding and Commercialize – NV can work closely with our startups to help identify and secure both non-dilutive (such as grants & prizes) and dilutive (such as angle investment) funding. We also assist with business model, plan, and pitch development to better engage with potential investors. Once funded, we continue to support business development efforts as our startups begin to commercialize their first products and services based on Rutgers research.   

A step-by-step startup guide for Rutgers faculty can be downloaded here.