As part of its ongoing mission to move inventions created by Universities of Wisconsin researchers to the marketplace, WiSys offers assistance to faculty, staff and students who wish to start companies with technology licensed from WiSys. We are eager to help startup companies succeed and advance Universities of Wisconsin technologies from the lab to the marketplace for public use and benefit.
If you are interested in forming a startup company, WiSys may be able to provide resources or introductions to groups around Wisconsin that can help move your venture forward. You will likely need technical expertise, legal resources, investment, marketing and market research in the very early stages of your formation and WiSys can help.
Below, entrepreneurs can find steps that may be helpful in understanding the overall process of licensing a technology from WiSys into a new startup company.
Steps to Obtaining a License
Preferably before meeting with WiSys:
- Determine feasibility of proposed company by completing a Feasibility Checklist; and
- Identify founding members that will actively participate in the new startup.
Contact a WiSys staff member to:
- Request a standstill period, if desired;
- By entering into a Standstill Agreement with WiSys, your company will gain additional time to evaluate the commercial potential of the technology as well as develop a full business plan. During this time (generally 6 months), WiSys agrees not to license the technology in question to another party.
- Complete and submit full business plan and startup application; and
- Engage in discussion and negotiation.
WiSys will work with you on follow-up actions:
- Approve and execute final agreements; and
- Monitor agreements with your company on an ongoing basis to provide additional support and ensure obligations and milestones are met.
After you have licensed the technology, as with any startup, your company must meet certain milestones and obligations.
Financial obligations may include an upfront fee, patent reimbursement, milestone fees, ongoing royalties or grant of equity. Review our standard licensing terms here.
WiSys also requires the company to submit royalty reports on a quarterly basis once product sales begin. The royalty rate normally is calculated as a percentage of the selling price of product.
Development obligations may also be required.