Once a technology emerges from the controlled environment of the lab into the chaotic marketplace, a wide variety of additional skills are needed for success. Building the right team with appropriate expertise, shared vision and risk tolerance is crucial. With its broad networks of entrepreneurial talent, the Office of Corporate Relations can help spinout founders build such teams.
Some of the skill-sets needed for a successful spinout are shown below. Fortunately, a number of these are available when-needed from non-employees, so you can keep your early team small. If helpful, Corporate Relations can help you navigate efficiently along this “lean” process.
- Patents and IP Landscape
- Business Model Generation
- Confirming Demand
- Entity Formation and Operating Systems
- Capital Planning and Investors
- Partnerships and Competition
- Recruiting and Retaining Talent (advisors and employees)
- Sales and Marketing
- Getting to Break-Even and Scaling Up