Do you believe that you have an idea through either your senior project or a research project that could result in a marketable product? If so, here are some steps to get you to that level.
It is important to note that you only have one year in the US to file a patent application on a technology once it has been publicly disclosed. Public disclosure would include progress reports, poster presentations, etc. If you do not file a patent application within one year of public disclosure, you lose all rights to the invention. In most countries, you lose all patent rights the moment you make a public disclosure.
The National Science Foundation has created an I-Corps Hub at Princeton University. I-Corps was specifically created to help you obtain non-dilutive funding to launch your idea. This program provides financial and training support to help you decide if your idea/product would benefit society. Many of the sessions are held virtually or at nearby universities. The first step would be to attend one of the one-hour Info Sessions: Propelus. You can then attend Novus and Propelus sessions to further the pursuit of commercializing your idea.
You can utilize the resources available at the Inventions, Startups, & Commercialization office at Rutgers. TCNJ has an Memorandum of Understanding with Rutgers to enable our faculty, students, and staff to receive support.
VentureWell offers nondilutive funding and training for entrepreneurs. There are several times per year that applications are accepted.
Another way to obtain recognition and financial support for your idea is through the Mayo Business Plan Competition. You can pursue both I-Corps support and participate in the Mayo Business Plan Competition. In fact, your participation in I-Corps will strengthen your proposal and increase your chances of winning, but you do not have to participate in both. Registration opens in September and the competition is held in the spring. There are many resources provided to you to help you create the best business plan. If you decide to compete and you make it to the semifinalist stage, please inform Terry Warren and she will help you with polishing your presentation. It is important to remember that this is a business plan competition – you are being judged on your business plan, not the ingenuity of your idea.