Minnesota fuels incubator

University of Minnesota has formally announced the start of an incubator called Discovery Launchpad to help convert lab discoveries into marketable technologies.
Discovery Launchpad has been matured by the Venture Center at Minnesota’s Technology Commercialization tech transfer office.
The initiative aims to give researchers expert coaching and support as they prepare to form spinouts. It is currently working with eight projects and expects to graduate a total of eight during the current fiscal year.
Applications to the launchpad begin with an adviser consultation where the discovery in question can be discussed and a bespoke work strategy can be formulated.
Projects accepted onto the program gain access to shared office space and mentoring over several months, providing the founders with a grounding in affairs such as business creation, sales, marketing, financial management and pitching.
Discovery Launchpad will offer continued support to spinouts emerging from the incubator for up to two years following the initial phase. It will work alongside the venture centre to source qualified executives for the newly-founded businesses.
Established in 2006, University of Minnesota Venture Center has to date spawned more than 140 spinouts based on the innovations of faculty, staff and students.
The launchpad joins existing University of Minnesota initiatives designed to spur early-stage technology development.
These include MIN-Corps and MN-Reach, hubs administering support on behalf of national innovation programs run by US government-funded research agencies National Science Foundation and National Institutes of Health respectively.