Snap-shot of the Process and Steps Involved
in Research Institution Spin-outs
Resea
rch In
stitu
tion a
nd As
sociat
ed Inv
(Redu
olvem
cing R
ent
isk)
Phase 1
Phase 2
Activities
Packaging the Offering
Patenting/IP Rights
Further Proof-of-Principle
Marketing Testing
Prototyping
Project Planning
Company Formation
Shareholders' Agreement
Memorandum and Articles of
Association
First Directors Appointed
Consultancy Contracts
Development
Business Planning
Users/Customers
Forming Partnerships
Project Management
Networking
Financing
(Business Angels/University Challenge/
Early-stage Funds)
Market Testing
Insurances
Consultancy/Service Contracts
Incubation Premises
The funding timescales and routes to market differ from case to case but particularly
so in fields such as drug discovery in that they often take much longer than other IP
commercialisation activities and face greater regulatory hurdles.
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