Commercializing Your Technology
Many faculty members choose to stay involved with their invention as it transitions out of the university to undergo commercialization. Faculty members often serve as Chief Technology Officers within spin-off companies or technology consultants to licensees while still remaining in full-time faculty positions. The entrepreneurial spirit of SIU faculty has helped to inspire innovation and economic development within both our student bodies and our regional communities. In fact, SIU Carbondale earned recognition as an Innovation and Economic Prosperity University in 2015.
Faculty members and staff who are interested in starting their own company or staying involved in a spin-out company are encouraged to discuss this option with the Office of Technology Transfer and take advantage of the many (mostly free) resources offered by the SIU Research Park and Small Business Development Center (both based in Carbondale), InnovateSpringfield and the Center for Clinical Research (both based in Springfield), and the SIU Edwardsville Small Business Development Center. Professionals can help you learn how to start a business, build a spin-out company team, pitch your technology to investors, connect with mentors, and more.
In accordance with university policy, it is imperative that any faculty member intending to create a startup company obtain approval for such activity prior to onset through the appropriate disclosure channels outlined in the links below.
https://www.siumed.edu/compliance/conflict-interest-and-commitment.html
https://policies.siu.edu/personnel-policies/chapter4/ch4-all/confint.php
SIU inventors are also encouraged to apply for the SIU School of Medicine Concept Development Award, SIU Edwardsville Concept Commercialization Award, and SIU Carbondale Energy Boost Proof of Concept Fund (see web links for eligibility information).
Standard SIU Option Agreement and Licensing Agreement forms can be found here. Inventors are always encouraged to seek their own legal counsel/representation, accounting advice, etc. when working with the Office of Technology Transfer to negotiate licensing or other agreements.
