As an external entrepreneur you should
- align your expectations to the technology – you are co-developing a product, it is not a product yet
- understand that time is different at a university – make sure you understand each other’s expectations
- remember that you are not a CEO (yet) but part of a co-founding team
- be aware that there are no guarantees for a company at the end – we are working with high tech
- go get your hands dirty – be present in the labs
- work to find the product-market fit
- focus on creating the best team
- be prepared to dedicate a lot of time (6 months) – for free
- focus on the customer
- enjoy the adventure!
As a researcher you should
- focus on getting to a functional prototype, not on the development of the perfect product
- understand that time is different at a university – make sure you understand each other’s expectations
- not expect to become the CEO, but part of a co-founding team
- be aware that there are no guarantees for a company at the end – we are working with high tech
- let go of the control – be prepared to share and communicate
- learn to focus on the market
- focus on creating the best team
- be prepared to dedicate a lot of time (6 months) – for free
- communicate the solution – not the technology
- enjoy the adventure!