What do these companies have in common: Cisco, Symantec, Amgen, Biogen, Firefly, and E*TRADE?
They are just a few of the companies that spun out from universities and research institutions that have become household names.
Rev1 is excited to be working with our Innovation Partners like OSU, Nationwide Children’s, and OhioHealth, to spinout and commercialize the next wave of groundbreaking technologies. Last year alone, Rev1 supported 11 research institution spinouts with $2.4 million invested.
Spinouts from research institutions are unique in that their underlying technologies are often invented by leaders who want to move their discoveries into the marketplace, but don’t want to leave their day jobs in research and academia.
This creates an extraordinary mutually beneficial opportunity for business leaders who are interested in becoming involved with a startup in a mentoring or leadership position and for scientists who want to continue to discover, invent, and teach.
Connecting Experienced Leaders to Startup Opportunities
With the support of our Innovation Partners, Rev1 has helped match business leaders with scientists and inventors in multiple portfolio companies. Here’s how it works.
With us, every opportunity starts with market validation. We work with inventors and our Innovation Partners’ commercialization groups to thoroughly understand the technology and its application. Ideas that seem to have market potential then participate in Rev1’s Customer Learning Lab.
For ideas that prove market traction, we construct a business model that translates the potential of the technology into a business plan. We then use that plan inside the framework of our First Connect mentor program to interest the right kind of leader. The initial connection is often in a mentoring capacity.
By “right leader,” by the way, I don’t mean the business person who “falls in love with the technology.” That’s not the focus. We want to earn interest with the business leader through the potential of the business model and markets.