Overview Is Starting a Company for You? Working with UW TechTransfer A Basic Roadmap for Startups Forms & Agreements Resources FAQs

Is Starting a Company for You?

Flexibility is key

Because every startup develops in a different way, it is important to be flexible and be willing to adjust expectations throughout the process. Often what an entrepreneur envisions as a product or company at the outset evolves into something different. For example, the company financing strategy or the even the product offering may change as factors such as the economy or the market for the product or service changes. Maintaining your enthusiasm, patience, and persistence will help you mitigate these challenges more successfully.

Risks and rewards

In addition, you should approach the endeavor with a solid understanding of the risks and rewards involved both as a UW employee and an entrepreneur. Surprises or unexpected circumstances will always arise, but understanding how to address them and their potential impact on the startup is key. A UW TechTransfer technology manager will help you understand the process and the risks and benefits of starting a company.

Your role in the new company

As a researcher you should determine early on the level of involvement you will have in the company. Not everyone has the desire or skills to be a CEO, so recognizing where you can make the most significant contribution is an important decision. Perhaps CTO is a more suitable role?  Or acting as a consultant, scientific advisor, or board member is the most appropriate role for you?  Many options are available and a UW TechTransfer technology manager can discuss them with you. Meanwhile the Office of Research and Human Resources will develop a management plan for you since you cannot be a full time UW employee and work full time for your company.