National University of Medical Sciences

Entrepreneurs/Startup Profiles

Step#1: Your Idea:

Ask yourself:

What problem are you solving?
Can you state, in clear language, the key features & benefits of your product or service?
Who are your potential competitors?
Do you have access to the various resources you need to launch a business?
What is the size of the market that will buy your product or service?
What will it take to break even or make a profit?
Who will I need on my team?

Step#2: Review Relevant Policies:

Intellectual Property (IP Policy)
Research Regulations
Conflict of Interest Policy
Plagiarism Policy
Commercialization Policy

Step#3: Funding:

Funding Opportunities

Step#4: Make Business Proposal:

Business Plan Outline:

Executive Summary
- Business Overview
- Market Overview
- Financial Highlights
Company
- Structure & Ownership
- Management Team
Products and Services
Market Analysis
- Demographics and Segmentation
- Target Market
- Market Need
- Competition
- Barriers to Entry
- Regulation
Strategy
- Competitive Edge
- Pricing
- Marketing Plan
- Milestones
- Risks and Mitigants
Operations
- Personnel Plan
- Key Assets and IP
- Suppliers
Financial Plan
- Start-up Funding
- Important Assumptions
- Sales Forecast
- Cost Structure

Step#5: Submit to ORIC & IRB:

*If your research involves human subjects, it requires review and approval from an institutional review board (IRB).

You will submit your plan to ORIC, which after initial scrutiny will present your idea to the IRB. You will receive a notification of your approval, request for changes, or disapproval via email.

Step#6: Commercialization:

Share your news:

If you have a significant publication coming out, or a notable performance or exhibition to announce, notify the ORIC team . They can help you share the news of your achievement.

Understand intellectual property rights:

Before publishing, licensing, or commercializing your idea, read the university’s intellectual property policy to understand how your work will be credited, patented, and copyrighted.

Commercialize your research:

Commercialization brings your research to the attention of companies and investors with the resources to bring it to market. If you are interested in licensing or commercializing your research, start by reviewing the Commercialization Policy and contacting the ORIC Team.