“A little known but valuable resource every start-up should investigate is a formal or informal connection to your local university,” writes Marty Zwilling, who authors a daily blog for entrepreneurs. He offers this list of the areas where entrepreneurs should be able to find help:

Finding an idea. “Universities are brimming with new ideas from their students, their professors, and their own research, but need entrepreneurs from the real world to decide which ones are viable in the marketplace,” says Zwilling. “Start by contacting a professor in your area of interest or expertise.”

Research and development. Take advantage of the labs, equipment, and skilled students available and looking for real world problems to research, Zwilling advises. “They are likely to be able to get grants to fund development for you in strategic focus areas, like alternative energy sources, that would otherwise cost you many thousands of dollars,” he notes.

Business plan creation. “Every university has educational courses and can provide assistance on creating your initial plan,” Zwilling points out. “Look for evening courses or special programs for entrepreneurs, like the ASU Technopolis program, which are available to non-students.”

Funding. “Don’t look here for venture capital levels of funding, but certainly early-stage government grants, incubators, and entrepreneurship incentives are available from endowments and state funds,” Zwilling shares.

Legal advice. “Most universities have some sort of an entrepreneurship legal clinic, to address concerns like protection of intellectual property,” says Zwilling. “Start by contacting the school entrepreneurship support organization.”

Finding a team. “If you need part-time engineers to build a prototype, you can always find high-caliber grad students with the latest theory ready to work,” Zwilling observes. “If you need experienced executives, the best professors and entrepreneurship staff will have the contacts you need into the local talent pool.”

Mentoring. “Similar to finding experienced executives, you can use university contacts who do consulting in the real world,” says Zwilling. “Most schools also foster relationships with local executives, whom they use to lecture in MBA courses, judge student business plans, and assign as mentors for spinoffs.”

Source: Cayenne Consulting

Posted August 31st, 2010 under Intellectual Property Marketing

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