By combining the entrepreneur talent networks of all participating universities, our faculty startup companies will have access to a larger talent pool, a greater chance of finding fundable executive management, and, ultimately, succeeding. Similarly, Southeast XOR and Midwest XOR grant entrepreneurs that may be looking for their next move an opportunity to review a larger pipeline of opportunities in a central and user-friendly space.
Frequently Asked Questions (FAQs)
- As a university startup, do I have to use the Platform?
Not all university startups will need or use the Platform. It is an optional tool.
- Why is the Platform needed?
Many university startups meet an inflection point at which grant funds are exhausted, initial management is not capable of growing the company or a faculty member must choose between leaving their position to run the company (e.g., entrepreneurial leaves) or liquidating the company. The platform is designed for those situations. Ie will help the startup to find executive talent with the right industry and operational expertise. This, in turn, increases the likelihood that investors will invest as the right people increase the chances of business success.
- Who builds my company profile?
The Office of Technology Commercialization (OTC) will work with you to build a pitch deck and/or other materials and collect data for developing the company profile page in the platform.
- How is a match executed?
Matches are initiated first by contacting the "Company Contact" identified in the platform, which is a UK OTC representative. Introduction meetings will be scheduled through the "Company Contact" to be followed by negotiations to determine if a "match" exists. This process will be facilitated by OTC and may take any form as agreed by the parties. There is no obligation.
- Is the company required to remain headquartered in a certain location?
There is an economic development opportunity to bring outside talent to a new ecosystem, but it is up to each university and/or startup company, in collaboration with the newly matched entrepreneur, to determine where or how a startup will continue its development. This negotiation process will vary case-by-case.
- What are the qualifications entrepreneurs need to meet to be part of the Platform?
Criteria to become an XOR Entrepreneur includes:
- Generally, having run a startup, having raised or been involved in raising capital for a startup, and/or having been an executive in a specific industry for at least 15 years
- An affiliation (alumni, etc.) with or recommendation for inclusion by a participating university.
- Willingness and availability to play an executive management role for a startup company.
- How do I become part of the Platform?
Complete and submit the Southeast XOR Network Entrepreneur Application and/or the Midwest XOR Entrepreneur Application.
For more information, contact firstname.lastname@example.org and/or email@example.com.