Stage 1: Does the idea have potential?
The Innovation or Idea
How long does it all take?
University of Surrey inventor guide Understanding the Technology Transfer Office Leveraging the Technology Transfer Office Heriot Watt tech transfer handbook UK University Technology Transfer: behind the headlines
Technical due diligence (who owns IP?)
Do we have freedom to operate?
Espacenet patent search The British Library is a good resource to check existing patents Heriot Watt tech transfer handbook University of Surrey inventor guide Spin-out Companies, A Researcher’s Guide IP Due Diligence: what IP exists and who owns it? (p.34), Typical IP costs (p.128)
Learn the spinout process
Spinout or continue with research?
Stage 2: Should you try to spinout?
Learn about commercialisation
Desk-based market research
A Founder’s Guide to Spinouts (p. 128)
Form a business plan
Heriot Watt tech transfer handbook (section on patent timeline)
A Founder’s Guide to Spinouts (Prepare your business plan - p. 58)
Assess financial viability
Form a team
Stage 3: How do you get approval to spinout?
Freedom to operate
Validate business plan
Section on why the university takes a share
Step four: Term sheet negotiation and valuation
Determining the university ownership in a spinout
Section on negotiation
Stage 4: How to grow the business
A Founder’s Guide to Spinouts (Start recruiting & building your team: p:53)