Starting a Company
A new company is one way to further develop and commercialize discoveries made at the University of Illinois. A start-up can be a preferred route fo commercialization because it can provide the professional guidance and development needed to demonstrate commercial viability, and thus improve the chances that an early-stage technology will get to market.
Many factors are involved in the decision of the OTM to license a technology to an existing company or to a start-up company. Considerations include optimization of stakeholder (University, faculty, etc.), improving the probability that the technology reaches market and how best to accomplish further commercial development outside the research laboratory.
CTP Research Center and IllinoisVENTURES are a couple of the resources within the University system that support the development of new business commercializing University intellectual property.
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide qualified small businesses, including faculty start-ups, with opportunities to propose innovative projects that meet specific federal needs. These programs offer more than $2 billion dollars annually to support the research and development of technology by small businesses across the nation. Awards are based on small business qualifications, degree of innovation, technical merit and future market potential.
SBIR 101 Workshop Handouts - DoD and NSFGet help with SBIR and STTR grant applicationsThe University of Illinois & the Illinois Department of Commerce and Economic Opportunity (DCEO) are partnering to help Illinois entrepreneurs and small businesses apply for Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. Learn more.
IllinoisVENTURES is a premier seed and early-stage technology investment firm focused on research-derived companies in information technologies, physical sciences, life sciences and clean technology. Learn more.
One of the first life science incubators, the CTP Research Center remains among the nation’s largest and most successful. Visit the website to learn more.