Entrepreneurship

Ali K. Yetisen, Lisa R. Volpatti, Ahmet F. Coskun, Sangyeon Cho, Ehsan Kamrani, Haider Butt, Ali Khademhosseini, Seok Hyun Yun

Research output: Contribution to journalReview articlepeer-review

31 Scopus citations

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.

Original languageBritish English
Pages (from-to)3638-3660
Number of pages23
JournalLab on a Chip
Volume15
Issue number18
DOIs
StatePublished - 22 Jul 2015

Fingerprint

Dive into the research topics of 'Entrepreneurship'. Together they form a unique fingerprint.

Cite this