Tech Transfer eNews Blog

UGA launches express license to streamline start-up creation


By Jesse Schwartz
Published: February 24th, 2021

The University of Georgia (UGA) has become the latest university to launch an express-style start-up licensing program.

Developed by the university’s tech transfer arm Innovation Gateway, the Georgia Startup License combines business and technical assistance with a streamlined licensing process to help UGA start-ups speed their path to market.

“Georgia Startup License was developed using best practices from other universities and was reviewed by start-up attorneys and investors to create a solid foundation for future company development,” says Tim Martin, associate director of Innovation Gateway’s Startup Program. “Our two-phase approach is ideally positioned for UGA start-up companies who have achieved some external validation, including grant funding or dilutive investment.”

During phase I, the Innovation Gateway team will work closely with the start-ups to help develop their business strategies and identify potential shortcomings. Phase II will see the start-ups executing their strategies through accelerator programs such as UGA I-Corps. Once they’ve completed these requirements, the start-ups will be granted access to the Georgia Startup License.

“The life of a university spin-out company is often difficult and unpredictable,” says Cory Acuff, associate director of licensing in Innovation Gateway. “Georgia Startup License is really a partnership between UGA and the start-up that provides favorable and preferred licensing terms to help reduce some uncertainty, while simultaneously setting the company up for long-term success.”

Source: UGA Today

Posted under: Tech Transfer e-News

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