One of the most common questions researchers ask is, "What the best way is to commercialise my technology?" There is no single right answer. The right path depends on your goals, your technology, and the problem you are trying to solve.

What matters most is having a clear understanding of the market problem your research addresses. In some cases, the fastest way forward is to work with an existing company and license the technology. In other cases, especially when you are tackling a large or globally significant problem, building a startup may be the better option.

If you are thinking about going down the startup route, it is worth taking a step back and reflecting on whether it is the right fit for you.

How do I know if starting a spinout is right for me?

Starting a company is a big commitment. Before you begin:

Think about your motivation and readiness

• Do I have the time, energy and financial runway to commit to this?
• Why do I want to start a company and what is driving me?
• Do I care deeply about the problem or am I more attached to the solution I have built?
• Do I understand what it takes to build and run a startup?
• Am I comfortable with the level of risk, uncertainty and long term commitment?

Think about your personal life and career

• How will this affect my academic role, research and teaching?
• Am I more motivated to build a company or continue along an academic path?
• How will this impact my family, finances and day to day life?
• Am I prepared for the worst-case scenario if things do not go to plan?

Think about your team and alignment

• Who do I need to work with and are we aligned on goals and expectations?
• Will I need investment, and access to customer and supplier networks?
• What skillsets and expertise would I need to build a business around my technology?

Be clear on the pathway

• Do I understand the university’s position on intellectual property and my options for commercialisation?
• Why is a spinout the right path compared to licensing or partnering?

Reflect on what success looks like

• What do I value most whether that is impact, financial return or something else?
• What do I hope to get out of this and is it worth the trade-offs?

Final thoughts

Being able to translate your research to solve the world’s most critical problems can be the most rewarding pursuits to leave a legacy beyond academia and the lab. If you are interested in startups, please speak with the Ventures team. If you are working on research that you are interested in commercialising, please speak with the Commercialisation Office. Even if you are not sure about some of the questions above, we would love to support you.