Many people in science generate potentially commercial ideas while doing research, but bringing these ideas to commercial fruition can be a very difficult process. There are many diffiult questions: Is the idea really viable? Has anyone else launched a similar business? How much capital would be needed to get the idea off the ground? These and many more questions need to be answered before launchng a business.
And once it becomes clear that the business should be launched, where will the money come from? Friends and family may not have enough money to start the business while venture capitalists may invest ony in larger more established start-ups. Science House Capital fits into this in between area, providing capital at the very earliest stages of the process.
1. Pitch Meetings
The first step is to present your business idea to Science House. This is a relatively informal process in which you come to Science House and describe your technology and the commercial potential that it has. You will generally present your ideas along with a number of other individuals pitching their own ideas. Click here to learn more about pitch meetings.
2. Idea Evaluation
Each idea presented in the pitch meetings will be evaluated based on many criteria. Examples of such criteria include:
3. Due Diligence
Assuming that the idea passes the initial evaluation stage, a due diligence process begins in which a more careful evaluation of the technology is completed. For example, Google searches are performed to see if anyone has started a similar business before. Representatives from Science House might also do a site visit to get a demo of the technology.
4. Needs Assessment
If the idea gets through the diligence process and continues to be a strong candidate, a needs assessment is done to determine what resources would be required to commercialize the technology. This would include a determination of how much money was required a well as other resources such as people.
5. Investment
The final phase of the process is an investment by Science House Capital, although the support does not end there. Our team of business experts will help guide the new company into commercial success. We'll help draft business plans, file for patents, recruit employees, and help promote the business. We can even introduce you to private investors and venture capitalists when it comes time for an additional, larger round of funding.
While Science House Capital has no hard and fast rules as to what we will or won't invest in, we are most interested in high tech ideas at the very earliest stages of development.
Because we are getting involved in the earliest stages, we are most often funding the development of prototypes that can be brought to larger companies for a technology licensing deal or to venture capitalists.
So far, we've been investing in and examining:
