My Bluffer’s Guide to Spin-out Success

I often get asked about what makes a successful university spin-out, so here are my observation for any budding academic team looking to spin out:

1. You need a solid academic base. A PhD programme is often an excellent base for a spin-out, as it involves three or more years of extensive study into every aspect of a given field. This involves both a macro and micro viewpoint of a problem, and it develops the skills that support the articulation of new knowledge and new discoveries. A great team, too, often has a foundation of both theory and practice.
2. You need vision. Any company can innovate but fail to take things forward. A great team needs a visionary leader and who knows how to take something to the place which achieves this vision. They are a creator of a seed that is likely to sustain the company into its future.
3. Build a team, focus on quality and keep them. I know it sounds obvious, but it’s not easy to build a team in academia. There are too many barriers and academic structures that get in the way of team building. Try and create a team with complementary…