Office of Technology Development (OTD)

Patenting & Licensing Process

For years, biomedical technologies have been a fertile area for new companies. Many of today's leading medical companies began as start-ups founded by industry professionals who took a risk. Valuation of these companies rose to millions as the firms grew over the years. On the upside, a new business allows a researcher to be personally involved in the translation of their discoveries into products and services that affect people's lives, and see a direct correlation between hard work and financial rewards. Earnings and growth potential make an "academic entrepreneurship" exciting and provides variety, challenges and opportunities to learn.

The down-side of entrepreneurship is risk. Three out of four start-ups will fail during the first three years for lack of commitment, information, planning and capital. Most entrepreneurs invest some of their own money. All must invest time and energy. The staff at OTD is available to help explore all options and allow the inventor to make an informed decision.