Main navigation | Main content
The Office for Technology Commercialization (OTC) takes the ideas and technology that stem from University of Minnesota research, prepares this intellectual property for the market, and in some cases spins it out into new businesses. The Venture Center is the business unit within OTC that works with entrepreneurs, researchers, and investors to create start-up companies based on University research.
The initiative to start a new company based on intellectual property created at the University of Minnesota comes from three primary sources:
OTC’s Intellectual Property Evaluation Process
All intellectual property disclosed by University researchers to OTC undergoes a Technology Assessment to determine the technology’s commercial potential and develop an appropriate commercial strategy. As a part of this commercialization process, OTC evaluates whether the technology is best commercialized via a license to an existing company, or through the creation of a new start up company.
Researcher Entrepreneurs
University researchers who have a desire to initiate a start-up and feel their research program may create this opportunity are encouraged to follow the steps outlined in the Researcher Entrepreneur Start-up Process. As part of this process, the Venture Center is available to assist in an evaluation of such a commercialization path.
External Entrepreneurs
Occasionally, entrepreneurs and investors seek to create a new company based on a license to University research. These entrepreneurs can consult the steps outlined in the External Entrepreneur Start-up Process.
The Venture Center has created a start-up guide to assist researchers and entrepreneurs with the start-up process. Please click on the link below to download a copy.
The CEO-in-Residence program is a cornerstone of the Venture Center. The goal of the program is to match CEOs and business executives with University inventions. In order to achieve that goal, the Venture Center recruits key individuals who have a track record of success in establishing, financing, and leading start-up companies.
This program allows successful entrepreneurs, CEOs, and business people to participate in reviewing intellectual property at the University and, if an appropriate opportunity is identified, contributing to or leading a new start-up company.
We are constantly on the lookout for experienced entrepreneurs to fill CEO-in-Residence positions. The Venture Center is looking for leaders with a proven track record in running successful start-ups, with expertise in raising money at that early stage, and with a breadth of experience in evaluating technology-based start-up opportunities.
If interested, please contact venture@umn.edu for more information.
Venture Center Start-up Guide [PDF]