INDIANAPOLIS — Indiana University researchers who want to launch a company based on their innovation and strengthen its bottom line now have access to business services through Indiana University Research and Technology Corp.’s Spin Up entrepreneurship program.
Jerry Hunter, Spin Up associate, said the program is dedicated to helping IU faculty, postdoctoral researchers and graduate students across all campuses.
“The program starts companies founded on IU intellectual property,” he said. “It provides tools and guidance needed to quickly and successfully create and grow companies.”
Hunter said Spin Up has evolved into a “startup in a box” model.
“Spin Up has partnered with outside providers to offer services in legal, accounting, human resources, banking, tax preparation and insurance,” he said. “These service providers are located in Indiana, which means they are experts in how the latest Indiana legislation affects those areas.”
Hunter said startups have a better chance to thrive with this model, as the service providers complement the entrepreneur’s skill set.
“Indiana University researchers are among the foremost experts in their fields, but they might not have the background to manage startup-related activities,” Hunter said. “Spin Up can make those connections with the business service providers so researchers can spend more time honing their innovations for the market.”
During the fiscal year July 1, 2015, through June 30, 2016, researchers at Indiana University-Purdue University Indianapolis and the IU School of Medicine launched four companies through the Spin Up program. Spin Up “graduate” Arrhythmotech LLC received a two-year, $1.4 million grant from the National Institutes of Health in July 2016.
See the website for more information about IURTC’s Spin Up program.
About Indiana University Research and Technology Corp.
IURTC is a not-for-profit corporation tasked with the protecting and commercializing of technology emanating from innovations by IU researchers. Since 1997, IU research has generated more than 2,700 inventions resulting in over 3,900 global patent applications being filed by IURTC. These discoveries have generated $133 million in licensing and royalty income, including $111 million in funding for IU departments, labs and inventors.