External Entrepreneur Start-ups

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 start-up based on licensing rights to University intellectual property:

1. Identify University Intellectual Property to be licensed to a new start-up company

+ Visit our Technology Marketing Site to see available technologies

2. Complete Start-up Application and Feasibility study

+ Learn more about the Start-up 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. Determine whether business will seek an Ignition Investment from Office for Technology Commercialization

+ Learn more about Ignition Investments

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

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

+ Learn more about License Agreement Definitions and Documents

9. Form new company

10. Execute license to start-up company

Please contact venture@umn.edu for 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