Issue link: https://htpgraphics.uberflip.com/i/246991
Why create a spin-out company? Section 1 Although in exceptional circumstances a researcher may continue to play a leadership role, the demands of the business and the investors often mean that you may, in time, resign from the board of directors (if you are in fact a director already) and become, say, Head of the Scientific/Technical Advisory Committee to the Board. After that, you may become an occasional consultant, so that within 3 to 5 years following the creation of the spin-out, your role may simply be that of a shareholder. Indeed, many investors will not become involved where research staff have significant management influence. No matter what role you take or how active you are in the spin-out, you will need to appreciate that rapid and frequent changes in direction and circumstances are not unusual in a commercial environment. Given that the research idea is novel and the market is clear, the most likely factors determining success will be the ambition, persistence, marketing skills and effective management of resources by those involved. This will be especially demanding and stretching for you if you are still carrying out duties for your research institution employer and is one of the reasons why you should be open to form productive partnerships with experienced people, who can add value to the spin-out and share your commitment and workload. The people who become involved in the spin-out will come from many and quite different cultures. These new people will be woven in progressively as the spin-out advances through its various businesses phases. They may not always understand or be patient about your wider goals or duties as a researcher, especially if you are still employed full-time by your institution. The spin-out will be their only focus and concern. They will be more interested in the products, revenues and profits that are to flow from the IP, than in the IP itself. 9