OPERATIONS
Operating Details
• Establish an college-based business development program that focusses on one issue; e.g. sustainable living, alternative energy, etc.
• With the program, establish approximately ten teams as businesses, with each team working as an independent corporation focused on one solution.
• Staff each team with a small group of college students (3-9) as necessary and as selected by the team.
• Provide sufficient funding for commercial products and services that can be developed with those funds within 1 to 5 years.
• Each team owns a majority of their corporation. The remaining shares are owned by investors and the associated college.
• Faculty (approximately 1 for every 15 students, with a minimum of three faculty) provides oversight to assess appropriate credits, as stewards of the university’s interests, and to identify spin-off research and technologies.
• The teams and ideas are screened by a group of venture capitalists and industry professionals.
• A governance committee oversees the business and technical progress of the teams, regulates high-level funding, and provides advocacy and mentoring.
• Student teams will be encouraged to seek advice from their university peers; e.g. graphic design, legal assistance, etc. The team will be responsible for negotiating compensation terms.
• The university will assist by facilitating access to their computing, test and laboratory facilities.