Just spun out a novel technology and we have patent rights – how do we build a business around this technology?

Despite all the challenges of developing a novel technology, and the arduous process to protect it through the patenting process, and finally to secure full rights to these patents through negotiation with all stake holder, unfortunately, it is only the beginning of all that is required to make a business out of an invention.

SI’s client had developed a novel technology with a unique value proposition for applications in urology and had just negotiated an exclusive license to the associated patent. At the point in time that the client approached SI, the inventor had know-how and a single document at hand, which was the signed exclusive license to the patent. SI was then asked to develop a detailed business plan around this technology, define the market opportunity, develop the product development and commercialization plan, recruit executive management to the company, lead the fund raising and financing activities of the company, and manage the entire process of engineering, preclinical, clinical and regulatory development of the product. SI engaged its venture development resources and staffing to build a viable start up company out of a licensed patent in exchange for taking a significant equity position in the company. The company was successfully launched and it is currently going through its multiple stages of development.