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University Spin-off
University spin-offs (also known as university spin-outs) are companies that transform technological inventions developed from university research that are likely to remain unexploited otherwise. They are a subcategory of research spin-offs. Prominent examples of university spin-offs are Genentech, Crucell, Lycos and Plastic Logic. In most countries, universities can claim the intellectual property (IP) rights on technologies developed in their laboratories. In the United States, the Bayh–Dole Act permits universities to pursue ownership of inventions made by researchers at their institutions using funding from the federal government, where previously federal research funding contracts and grants obligated inventors (wherever they worked) to assign the resulting IP to the government. This IP typically draws on patents or, in exceptional cases, copyrights. Therefore, the process of establishing the spin-off as a new corporation involves transferring the IP to the new corporation o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Invention
An invention is a unique or novel device, method, composition, idea or process. An invention may be an improvement upon a machine, product, or process for increasing efficiency or lowering cost. It may also be an entirely new concept. If an idea is unique enough either as a stand alone invention or as a significant improvement over the work of others, it can be patented. A patent, if granted, gives the inventor a proprietary interest in the patent over a specific period of time, which can be licensed for financial gain. An inventor creates or discovers an invention. The word ''inventor'' comes from the Latin verb ''invenire'', ''invent-'', to find. Although inventing is closely associated with science and engineering, inventors are not necessarily engineers or scientists. Due to advances in artificial intelligence, the term "inventor" no longer exclusively applies to an occupation (see human computers). Some inventions can be patented. The system of patents was established ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technology Licensing Office
University technology transfer offices (TTOs), or technology licensing offices (TLOs), are responsible for technology transfer and other aspects of the commercialization of research that takes place in a university. TTOs engage in a variety of commercial activities that are meant to facilitate the process of bringing research developments to market, often acting as a channel between academia and industry. Most major research universities have established TTOs in the past decades in an effort to increase the impact of university research and provide opportunities for financial gain. While TTOs are commonplace, many studies have questioned their financial benefit to the university. History The history of technology transfer is intimately linked with the history of the science policy of the United States. The foundation for modern American science policy laid way out in Vannevar Bush's letter in response to President Roosevelt's query about whether the US should maintain the high le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Angel Investors
An angel investor (also known as a business angel, informal investor, angel funder, private investor, or seed investor) is an individual who provides capital for a business or businesses start-up, usually in exchange for convertible debt or ownership equity. Angel investors usually give support to start-ups at the initial moments (where risks of the start-ups failing are relatively high) and when most investors are not prepared to back them. In a survey of 150 founders conducted by Wilbur Labs, about 70% of entrepreneurs will face potential business failure, and nearly 66% will face this potential failure within 25 months of launching their company. A small but increasing number of angel investors invest online through equity crowdfunding or organize themselves into angel groups or angel networks to share investment capital, as well as to provide advice to their portfolio companies. Over the last 50 years, the number of angel investors has greatly increased. Etymology and origin Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venture Capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth (in terms of number of employees, annual revenue, scale of operations, etc). Venture capital firms or funds invest in these early-stage companies in exchange for Equity (finance), equity, or an ownership stake. Venture capitalists take on the risk of financing risky Startup company, start-ups in the hopes that some of the firms they support will become successful. Because Startup company, startups face high uncertainty, VC investments have high rates of failure. The start-ups are usually based on an innovation, innovative technology or business model and they are usually from high technology industries, such as information technology (IT), clean technology or biotechnology. The typical venture c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prototype
A prototype is an early sample, model, or release of a product built to test a concept or process. It is a term used in a variety of contexts, including semantics, design, electronics, and software programming. A prototype is generally used to evaluate a new design to enhance precision by system analysts and users. Prototyping serves to provide specifications for a real, working system rather than a theoretical one. In some design workflow models, creating a prototype (a process sometimes called materialization) is the step between the formalization and the evaluation of an idea. A prototype can also mean a typical example of something such as in the use of the derivation 'prototypical'. This is a useful term in identifying objects, behaviours and concepts which are considered the accepted norm and is analogous with terms such as stereotypes and archetypes. The word ''prototype'' derives from the Greek , "primitive form", neutral of , "original, primitive", from πρῶτ� ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product (business)
In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as '' merchandise'', and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability. Product classification A product can be classified as tangible or intangible. A tangible product is an actual physical object that can be perceived by touch such as a build ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theory
A theory is a rational type of abstract thinking about a phenomenon, or the results of such thinking. The process of contemplative and rational thinking is often associated with such processes as observational study or research. Theories may be scientific, belong to a non-scientific discipline, or no discipline at all. Depending on the context, a theory's assertions might, for example, include generalized explanations of how nature works. The word has its roots in ancient Greek, but in modern use it has taken on several related meanings. In modern science, the term "theory" refers to scientific theories, a well-confirmed type of explanation of nature, made in a way consistent with the scientific method, and fulfilling the criteria required by modern science. Such theories are described in such a way that scientific tests should be able to provide empirical support for it, or empirical contradiction (" falsify") of it. Scientific theories are the most reliable, rigorous, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proof Of Principle
Proof of concept (POC or PoC), also known as proof of principle, is a realization of a certain method or idea in order to demonstrate its feasibility, or a demonstration in principle with the aim of verifying that some concept or theory has practical potential. A proof of concept is usually small and may or may not be complete. These collaborative trials aim to test feasibility of business concepts and proposals to solve business problems and accelerate business innovation goals. A proof of value (PoV) is sometimes used along proof of concept, and differs by focusing more on demonstrating the potential customers use case and value, and is usually less in-depth than a proof of concept. Usage history The term has been in use since 1967. In a 1969 hearing of the Committee on Science and Astronautics, Subcommittee on Advanced Research and Technology, ''proof of concept'' was defined as following: One definition of the term "proof of concept" was by Bruce Carsten in the context o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proof Of Concept
Proof of concept (POC or PoC), also known as proof of principle, is a realization of a certain method or idea in order to demonstrate its feasibility, or a demonstration in principle with the aim of verifying that some concept or theory has practical potential. A proof of concept is usually small and may or may not be complete. These collaborative trials aim to test feasibility of business concepts and proposals to solve business problems and accelerate business innovation goals. A proof of value (PoV) is sometimes used along proof of concept, and differs by focusing more on demonstrating the potential customers use case and value, and is usually less in-depth than a proof of concept. Usage history The term has been in use since 1967. In a 1969 hearing of the Committee on Science and Astronautics, Subcommittee on Advanced Research and Technology, ''proof of concept'' was defined as following: One definition of the term "proof of concept" was by Bruce Carsten in the context o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Distribution Channel
Distribution (or place) is one of the four elements of the marketing mix. Distribution is the process of making a product or service available for the consumer or business user who needs it. This can be done directly by the producer or service provider or using indirect channels with distributors or intermediaries. The other three elements of the marketing mix are product, pricing, and promotion. Decisions about distribution need to be taken in line with a company's overall strategic vision and mission. Developing a coherent distribution plan is a central component of strategic planning. At the strategic level, there are three broad approaches to distribution, namely mass, selective and exclusive distribution. The number and type of intermediaries selected largely depend on the strategic approach. The overall distribution channel should add value to the consumer. Definition Distribution is fundamentally concerned with ensuring that products reach target customers in the most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Early Adopter
An early adopter or lighthouse customer is an early customer of a given company, product, or technology. The term originates from Everett M. Rogers' ''Diffusion of Innovations'' (1962). History Typically, early adopters are customers who, in addition to using the vendor's product or technology, also provide considerable and candid feedback to help the vendor refine its future product releases, as well as the associated means of distribution, service, and support. Early adoption could also be referred to as a form of testing in the early stages of a project. The relationship is synergistic. The customer receives early (and sometimes unique, or at least uniquely early) access to an advantageous new product or technology. In return, the customer may also serve as a kind of guinea pig. In exchange for being an early adopter, and thus being exposed to the problems, risks, and annoyances common to early-stage product testing and deployment, the "lighthouse customer" is sometimes give ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
