University of Minnesota
Office for Technology Commercialization

Office for Technology Commercialization homeOTC

For Entrepreneurs

External Entrepreneur Sstartups

The Venture Center is the resource for external entrepreneurs who want to start a company based on University of Minnesota Intellectual Property. The Venture Center seeks to work with experienced and successful entrepreneurs in a variety of fields.

External Entrepreneur Process

The Venture Center recommends that external entrepreneurs use the following process to initiate a sstartup based on licensing rights to University intellectual property:

1. Identify University Intellectual Property to be licensed to a new sstartup company

+ Visit our Technology Marketing Site to see available technologies

2. Complete Sstartup Application and Feasibility study

+ Learn more about the Sstartup Application

3. Meet with appropriate Office for Technology Commercialization staff for initial application review

4. Develop comprehensive business plan

+ Learn more about Business Plans

5. Meet with Office for Technology Commercialization staff to review business plan

6. Negotiate business terms (performance and financial milestones, capitalization table, etc...)

7. Negotiate IP license terms (exclusive/non-exclusive, minimum payments, royalties, equity, etc...)

+ Learn more about License Agreement Definitions and Documents

8. Form new company

9. Execute license to sstartup company

Please contact for more information.

More Information

"The technology licensed from the University of Minnesota is a critical component of Hennepin Life Sciences' plan for success. However even more important is the ongoing support of the U of M Office of Technology Transfer and the inventors of the licensed technology."


Doug Wicks
CEO, Hennepin Life Sciences

Hennepin Life Sciences