A recent article published in the UK’s Financial Times profiled Oxford University and its “smart metering” spinout Intelligent Sustainable Energy, which just announced a $1.5 million outside investment. Along with an interesting look at the new firm’s path to market as well as some insights into the current tech transfer environment in the UK, a sidebar to the main piece offered this list of tech transfer “do’s and don’ts” regarding spinouts that apply to TTOs regardless of geography:

• Do employ a technology transfer boss who has run a successful university spin-out, so he or she knows what it takes and how the world of academia works.
• Do be patient. Expect the business plan to be revised many times. Manage expectations. Be prepared for a spin-out to have a long gestation.
• Do keep in touch with your investors. Find out which ones have money that they are looking to invest and what they are most interested in. Keep a constant watch for new investors.
• Do be prepared to partner with a larger technology transfer office at another university or venture capital group, particularly if your university lacks resources.
• Don’t create spin-outs just for the sake of meeting a target or writing the press release. A failed spin-out is worse than no spin-out.
• Don’t forget that the objective should be to transfer the technology to society in the least risky way. Often that is by licensing to an established company, not via a spin-out.
• Don’t spin out a company against the will of researchers. Even if you have a patent, much of the intellectual property is in their heads and you need them on board.
• Don’t mislead the researchers on how much effort they must put into spinning out a company.
• Don’t imagine investors are always looking to put money to work. Be patient and wait until they are ready.

Go to: A New Start

Posted December 10th, 2008 under Tech Transfer

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