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Entrepreneurship

Yetisen, Ali K. and Volpatti, Lisa R. and Coskun, Ahmet F. and Cho, Sangyeon and Kamrani, Ehsan and Butt, Haider and Khademhosseini, Ali and Yun, Seok Hyun (2015) Entrepreneurship. Lab on a Chip, 15 (18). pp. 3638-3660. ISSN 1473-0197. https://resolver.caltech.edu/CaltechAUTHORS:20150918-154718642

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Abstract

High-tech businesses are the driving force behind global knowledge-based economies. Academic institutions have positioned themselves to serve the high-tech industry through consulting, licensing, and university spinoffs. The awareness of commercialization strategies and building an entrepreneurial culture can help academics to efficiently transfer their inventions to the market to achieve the maximum value. Here, the concept of high-tech entrepreneurship is discussed from lab to market in technology-intensive sectors such as nanotechnology, photonics, and biotechnology, specifically in the context of lab-on-a-chip devices. This article provides strategies for choosing a commercialization approach, financing a startup, marketing a product, and planning an exit. Common reasons for startup company failures are discussed and guidelines to overcome these challenges are suggested. The discussion is supplemented with case studies of successful and failed companies. Identifying a market need, assembling a motivated management team, managing resources, and obtaining experienced mentors lead to a successful exit.


Item Type:Article
Related URLs:
URLURL TypeDescription
http://dx.doi.org/10.1039/c5lc00577aDOIArticle
http://pubs.rsc.org/en/Content/ArticleLanding/2015/LC/C5LC00577APublisherArticle
http://www.rsc.org/suppdata/c5/lc/c5lc00577a/c5lc00577a1.pdfPublisherSupplementary Information
ORCID:
AuthorORCID
Coskun, Ahmet F.0000-0002-5797-1524
Additional Information:© 2015 The Royal Society of Chemistry. Received 26th May 2015, Accepted 22nd July 2015, First published online 06 Aug 2015. Author contributions: A. K. Y. designed the project and wrote the manuscript. L. R. V. contributed to Commercialization Strategies, Marketing and Sales, Reasons for Startup Failure, and A. F. C. contributed to Financing and Funding Sources. S. H. Y, L. R. V., and A. K. made intellectual contributions and edited the manuscript. We thank Mark Gilligan, Holger Becker, David Erickson, S. Roopom Banerjee, Richard McCullough, and Lita L. Nelsen for discussions.
Issue or Number:18
Record Number:CaltechAUTHORS:20150918-154718642
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20150918-154718642
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:60355
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:18 Sep 2015 23:21
Last Modified:03 Oct 2019 08:56

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