Being an entrepreneur isn’t easy, and being a faculty entrepreneur means that your time is extremely valuable. Innovations that are spun out of the various research groups through a startup company area great at advancing the mission of the PME – to commercialize the emerging technologies – help attract interest of corporate technology scouts and venture capitalists. Some of this attention is internally reviewed by corporate scientists and leadership with their technology roadmaps to determine if sponsored research can be mutually beneficial. A strong partnership resonance emerges in cases of good potential alignment with rosy outcomes downstream.
Taking advantage of mentors inside and outside the university can be very beneficial. Our Industry and Corporate Engagement (I&CE) committee has a diverse portfolio of expertise to help startups get off the ground. Contact the PME Advisory Council Chair or the Director of Corporate Engagement for more information.