How to Start a Start-up Company

The process involved in growing a successful start-up can seem daunting, but the Tulane OIPM is available to guide you through each step along the way.

1. Contact the Tulane OIPM: If you have an idea for a new company, contact us to discuss your invention, protect the technology, and learn about resources available to you to help start your company.
2. Protect your invention: At this stage, the core of your company’s success is the novel idea/technology. The Tulane OIPM can guide you through the process of obtaining exclusive rights to your technology. It is important to engage with the OIPM to file a patent application before publicly disclosing your invention.
    
3. Build your network: The Tulane OIPM can connect you with an abundance of resources to help grow your start-up. This includes assistance in writing a business plan or model, researching your market, connecting you to other local and national entrepreneurs, and securing funding.
    
4. Make a business plan/model: A company description, market analysis, funding requests, and financial projections are all components of a successful business plan.  You may also choose to focus on your customer by developing a business model and conducting customer discovery interviews.
    
5. Fundraising: If your company is capital intensive, external funding may be a prerequisite to company growth. Funding can come through personal savings, venture capital, or angel investors. Many Tulane-affiliated innovators participate in start-up (business) pitch competitions to secure funding sources for their company.

When and Why

A start-up isn’t a goal – it’s a vehicle to get to your goal. The early stages of forming a start-up include raising funds, forming a team, and collecting resources. Local resources include:

• The New Orleans Bioinnovation Center (for biotechnology and clean tech)
• The Shop (for co-working space and events)
• Propeller (for health, education, urban infrastructure, water, and non-profit startups)
• The Idea Village (for all other start-up companies)

For more information, contact Kara McQueen-Borden or Olivia Zelony.

Grant Opportunities

Many Tulane-affiliated start-up companies have secured funding through both local and international business pitch competitions, as well as governmental grants. A few examples include:

• BioChallenge pitch competition
• LA Board of Regents under the ITRS, “Industrial Ties Research Subprogram”
• Tulane Novel Tech Challenge
• Rice Business Plan Competition
• Get Started Louisiana
• NSF iCorps
• International Business Model Competition
• NIH SBIR/STTR and NSF SBIR/STTR

External Partners

• New Orleans BioInnovation Center
• Idea Village