During the marketing strategy phase,CTTEC performs a rigorous review of the market opportunity. This is geared toward assessing the potential for licensing but provides valuable input should the inventors decide to spin out a commercial venture based on their technology. If a company is formed, CTTEC assesses resource needs and administrative tasks, helps to identify gap funds and resources for proof-of-concept prototypes, provides advice on regulatory requirements and approval and assists with business plan development.
CTTEC works in partnership with a variety of programs at Carnegie Mellon to assist in developing new concepts for eventual commercialization. These programs including:
Project Olympus – An initiative designed to create and sustain Next Generation Computing innovation for Western Pennsylvania. It aims to build an infrastructure and foster a climate that will enable talent to take root and flourish in the region-and bring to fruition projects and ideas born here.
Donald H. Jones Center for Entrepreneurship – A part of the Tepper School of Business at Carnegie Mellon dedicated to education, research, and mentoring in the area of entrepreneurship.
Quality of Life Technology (QoLT) Center – The mission of this National Science Foundation Engineering Research Center (ERC) is to transform lives in a large and growing segment of the population – people with reduced functional capabilities due to aging or disability. Support from Carnegie Mellon’s Vice President of Research and a grant from the Benedum Foundation established a pilot program to accelerate the commercialization of research projects associated with QoLT.