enventure. the Guide (Alpha)

STEP 1

Intellectual Property
who owns your work?

Even if you came up with an idea on your own, depending on your school / work situation, it may not be yours free and clear. Talk to your Tech Transfer office or review your employment agreement to understand your options.

And remember:

It's better to have 5% of something than 100% of nothing!
is my idea patentable?

A patentable idea must be:

  • Novel
  • Non-obvious
  • Undisclosed

This means if you PUBLISH... your IP will PERISH. Even if you speak on a topic or present a poster, this counts as a public disclosure, which will ruin your ability to be granted a patent. File a provisional before you do anything! It costs ~$100 and takes a few hours.

STEP 2

Team Building
are you an entrepreneur?

If you want to be taken seriously, you should be willing to give your idea 100% of your attention. On the other hand, if you're unwilling to take a risk and commit, this communicates a lack of faith in your idea. Don't expect an investor to go "all-in" unless you're ready to make the same commitment.

Don't worry! In the world of medical startups, not every physician or scientist inventor needs to be an entrepreneur. But you do need to be willing to give up some control and find a full-time individual to get the company started.

There are groups around town that will take your idea, assess its business potential, and attempt to turn it into a viable startup: