ITU Business Development’s mission is to support companies in the earliest stages that aims to develop services and products based on inventions and software from the IT University. We thus offer support that will help such companies (so-called spin-outs) to build a package to bring to venture capitalists or companies that might invest in their technology.
ITU Business Development’s support package is tailored to each spin-out case but it can consist of a financial investment, a range of services (e.g. interim management support) or both.
If your spin-out uses IP or software from your research at the IT University your company also have to negotiate, on market terms, a license with either ITU Business Development or the IT University to use the IP commercially.
When evaluating whether or not we will engage in your business case, we look at two things; first of all whether or not you have previous experience with commercialisation of research and secondly your level of engagement. The best scenario for us is, that you have experience with research commercialisation (you have existing experience with starting a company) and that you are willing to invest time and resources in the project.
To be eligible for business support from ITU Business Development the spin-out that you wish to establish or already have established must be aiming to utilize Intellectual Property which has been disclosed to the IT University according to the Law on Inventions at Danish Research Organisations. If you are not sure how this works you can read more about the process of disclosing inventions at ITU.
Forming a good team is a key component in taking your service or product to market but it might take time to find the right people.
ITU Business Development can provide you with a range of services in the early start-up phase to fill the gap and/or we can match you with experienced entrepreneurs with a relevant background from the industry.
We participated in the project Bridging the Gap (BtG) where a similar model was used with good results.