MUSC Start-up Companies
The FRD and CIE feel MUSC is at the cutting edge of research and development, which often translates into entrepreneurial endeavors across broad biomedical industry spectrums. It is important that such activities have a positive impact on both on MUSC and our community. It is very important that the FRD and CIE offer the proper support to MUSC’s research community to sustain a University wide entrepreneurial culture while promoting an ethical framework for its success. Please see the MUSC faculty Handbook that includes the Start-up Faculty Policy (page 85), Faculty Handbook.
To support MUSC’s entrepreneurial activities, CIE is the starting point and provides a variety of services to assess new venture viability including:
- Educating faculty, staff and students in technology commercialization.
- Mentoring prospective and early entrepreneurs.
- Conducting initial interview with the inventor to evaluate and gain clarity on the basics of the technology / invention at the ideation phase.
- Analyzing the external and internal environment by performing a 360-degree due diligence on the technology, team and market.
- Evaluating industry dynamics, market trends and the competitive landscape as it relates to the technology and establish the business model framework.
- Engaging regional experts, advisors and mentors to conduct external due diligence.
- Developing business plans, financial and valuation models, and analyze funding needs and use of funds.
- Identifying a management team, board of directors and advisors.
- Identifying and engaging potential investors who are suitable matches for the new venture.
- Assisting with preparation of investor-related documents (pitch decks, valuation models, executive summary, etc.).
- Providing strategic support in negotiations, business structuring and other advisory functions related to the funding process.
Faculty Start-Up Guidelines
Involvement of faculty with startup ventures must be reviewed by the Department Chair, College Dean for the faculty member, and the Associate Provost for Research. In addition, the MUSC Research Conflict of Interest Committee will review the conditions and articles of the venture for compliance with MUSC Conflict of Interest Policies and Practices.
Please submit the Request for Approval – Professional Activity related to faculty Start-up venture form to the Foundation for Research Development along with a cover letter from the faculty member providing background on the startup venture including management structure, the faculty member's anticipated involvement in the Faculty Startup Venture and the relationship of the involvement to their function as a MUSC faculty member. The form should be completed in full and sent to the Executive Director of the Foundation for Research Development, Michael Rusnak. For additional information please contact the FRD at 843-876-1900.
The FRD and CIE will review the document with the Associate Provost for Research and forwarded to the Department Chair and College Dean for review and signature and returned to the FRD. FRD will then send the completed to the MUSC Research Conflict of Interest Review Committee for review.
Request to License Space
It is recognized that there may be a need for committed space during early stages of development of intellectual property and Faculty Start-up Ventures involving NIH, NSF or other federal funding agencies. Recognizing this need in order to successfully compete for external federal funding, requests for limited licensing of MUSC space for this purpose may be considered by the Office of the Associate Provost for Research for federally-funded PHASE 1 STTR awards. Such licensing of space for this purpose will be on a time-limited basis with the objective of sustaining such initiatives at early stages of development until dedicated incubator space is identified. If you require or would like to inquire about leasing MUSC space, please contact Executive Director of the Foundation for Research Development, Michael Rusnak. For additional information please contact the FRD at 843-876-1900.