True value of science can be measured as benefit to society. The knowledge generated can help in solving every day challenges in fields like health care, medical technology, nutrition, materials, energy, and sustainability. Business Generator assists in transferring the knowledge generated at the UMCG and RUG to companies and society, by initiating collaborations and licensing opportunities. The process of transferring knowledge involves multiple steps and Business Generator can assist in each of them, for example, screening of ideas, obtaining intellectual property protection, identifying partners or customers, and negotiating agreements. Business Generator also supports starting entrepreneurs and companies with, for example, strategy development, business planning, organizational structuring and financial evaluations. There are multiple funding structures available and Business Generator can provide access to external funds and investors.
The academic institutes harbor an enormous potential of knowledge and ideas, which can and should be applied to increase benefit to society and economy. Once the knowledge has been translated into applications or services, it can be used to increase or maintain health standards, to improve standard of living and to support a more sustainable society.
Business Generator promotes the translation, or value creation, of knowledge into problem solving solutions, through providing support in idea evaluation, knowledge protection, licensing, generation of partnerships and entrepreneurship. The specific accumulated expertise is made available to new innovations, accelerating the value creation process.
By collaborating with Business Generator we expand our capabilities to support start-ups and give them a better chance of success.