In some cases, the best way to bring research to the market and generate impact may be through creating a new company or 'spinout'.
Luris can help with detailed advice and support in relation to the preparation, structure, business planning and financing of spinouts, as well as advice and training for those academics who wish to become an entrepreneur.
Structure, financing and support
A spinout will require a CEO/manager (or a management team) which is independent of the university or medical center – for some academics becoming an entrepreneur is an exciting career choice, but not for all.
The spinout will often require a license agreement from the university or medical center, and unlike a conventional license agreement, this is designed to align the university/medical center and the inventors with the early stage investors in the spinout.
If the spinout requires ongoing support or input from the university or medical center, such as from the inventors or other facilities, this is covered by a service contract from the spinout to the university or medical center.
When the structure, team and plan is prepared, Luris can advise and direct the spinout to many different sources of financing, including direct financing from the University in some cases, microfinance loans, funding from UNIIQ or other angel and venture capital investors. The final financing decisions of the business remain with the CEO and founder shareholders of the business.