Since 1997, CTTEC’s spin-off process has been anchored by its “standard deal” that offered fair and readily transparent terms. Working with entrepreneurial faculty and members of the venture community in 2002, the university revised the standard deal based upon the criteria “What can we do to help our spin-offs get smart money fast?”.
The new deal was a key factor in boosting entrepreneurship on campus, moving from 2-3 companies per year to 10.
Indeed, Carnegie Mellon ranks first among all U.S. universities without a medical school in the number of startup companies created per research dollar spent since 2007, according to analyses of the data collected by the Association of University Technology Managers (AUTM).
(Note: Under CMU’s Intellectual Property Policy, students not working on federally funded research projects generally own their technology even if developed at the university and they avail themselves of the services of DJC and Project Olympus they represent another 5-10 spin-offs per year, which are neither counted nor reported above.)
To learn more about the specifics of the Spin-Off Guidelines, click here.