Why not submit them to HardTech Entrepreneurship?!
The “small print”
If your company wishes to participate in HardTech Entrepreneurship’s by submitting a technology, invention or challenge to explore a new market and potentially spin out a new company, you should know that:
– The course runs twice a year, in Spring semester (from February) and in the Fall semester (from September). In order to assess the suitability of your case, find the right team, and prepare the projects, the deadlines for expressing your interest in participating in the course are: 18th January (for Spring semester), and 17th August (for Fall Semester).
– The number of projects accepted in the course is limited to 20 per semester. From these, 10 are reserved to Corporate cases, 5 to DTU research / Students’ own projects, and 5 to Sustainability challenges.
– The cost of sponsoring a case in the course is 65.000 DKK per project (Corporate case).
– If you would like to sponsor a Corporate case + Sustainability case, the cost is 100.000 DKK. This means that your company will have 1 project from your own technology/invention/challenge, while you will be sponsoring the entry of a Non-Profit Organisation/SME case.
– You can also sponsor a whole track (5 Corporate cases), with a discounted fee of 250.000 DKK for 5 projects. This also includes a major brand exposure in our events and network.
– You can become the exclusive sponsor of the whole course and all 20 cases (10 corporate cases + 5 University cases + 5 Sustainability cases) for 650.000 DKK
– These fees cover the staff and materials costs for running the incubator around the course. These also include a general sponsorship of Spin-Out Day, where your company branding will be exposed during the whole event.
– The sponsorship fee includes the right to set a technology/invention/challenge into the course, to which the course responsible will assign 4-5 skilled DTU Master’s students from different backgrounds and with competences in the given technology. Whenever available, 1 CBS Master’s student will be attached to the team to help in the business/marketing side of the project. Furthermore, the team will have regular meetings with a Business Mentor (DTU ex-alumni network).
The team will have access to prototyping facilities, and a budget of 5.000 DKK for prototyping (more can be applied for), as well as consultation hours with product/prototype and business development specialists.
For 13 weeks (8 hours per week in class, and 8 hours out-of-the-class), the team will work on developing a business plan, will validate different markets by reaching potential customers/stakeholders, and will develop a prototype (MVP). The goal is to create the backbone of a potential new business opportunity: A spin-out from the mother company.
– Be aware that this is not a pure product development course, meaning that the students are not there to develop/solve a technical challenge only. Instead, the students need to find a new market/business for a given technology, reaching potential customers/stakeholders, and creating a feasible business plan, while adapting the technology to the potential new market.
– The only commitment for the company is to supply with all the needed information about the selected technology/invention/challenge, and that the Project Owner/Inventor needs to meet its team at least 1 hour every 2 weeks, providing them with as much help/information as possible by e-mail, and attend the final event of the course (Spin-out Day).
– At the end of the semester, we organize Spin-Out Day, a tech-fair where all the projects are showcased and where the teams need to pitch their business ideas in front of a crowd of investors, industry stakeholders,… in order to try to win the prize to the best spinout (50.000 DKK), and to opt to win a Discovery Loan (by PreSeed Ventures) of 200.000 DKK to be invested in the future spinout.
– All the work/rights developed during the course are owned by the company (students sign NDA and assignment agreement at the beginning). Nonetheless, we want to encourage the students and the company to sit together afterwards and talk about potential continuation models (spinning out a company together).
– Notice that the students are not a service, the entry fee covers the rights to set a project in the programme and all the extras attached to it, but the students do not get a monetary salary for their work and no assurances can be made of their output.
– The quality of the output can vary from group to group. Where sometimes results are not quite in the direction as hoped, there are times they are vastly exceeding expectations. Nonetheless, besides having a team focusing on developing a potential spinout, the company also gets the opportunity of engaging with students in getting exposure at the university, as well as being part of the Danish ecosystem of innovation, and therefore boosting their CSR efforts towards education and innovation.
– We (course responsibles) will assess the suitability of each project/technology in the course, based on a series of requirements (mainly hardware technologies that require mechanics, electronics, design, compute skills…, rather than purely software projects), but we are open to assess any type of technology.