UPStart Initiative (Overview)

The UPStart initiative at the University of Pennsylvania in Philadelphia extends support and guidance to nascent enterprises aiming to commercialize innovative technologies. Commencing in 2010, the program was conceived to address the necessity for aiding the commercialization endeavors of technologies stemming from research conducted within the university. The integration of a business incubator within an academic institution facilitates the streamlined progression of university-developed technologies into the commercial sphere. UPStart facilitates the connection of these emerging technology ventures with a multitude of valuable resources, including esteemed faculty members, research bodies, service providers, seasoned entrepreneurs, potential investors, and avenues for marketing. Additionally, the program has cultivated collaborative ties with various local research and business entities, such as the University Science Center and the Wharton Small Business Development Center, to foster the successful establishment of new ventures.

University protocol mandates that faculty members disclosing new technological innovations to the Center for Technology Transfer. If deemed promising, intellectual property rights are pursued, and the technology is integrated into the UPStart program. Subsequently, a company is established, forging a partnership with UPStart and committing to adhere to its regulations. The newly formed company is required to establish an LLC in Delaware and fulfill all necessary governmental procedures for conducting business. Upon establishment, the company collaborates with UPStart to formulate business and marketing strategies to attract potential investors, with assistance in grant proposal composition provided as well. Moreover, to nurture the growth of the fledgling enterprise, an experienced entrepreneur is assigned by the program. The company collaborates with legal counsel to devise a tailored intellectual property management strategy and explores licensing options. Upon securing funding, accrued intellectual property rights are transferred to the company.

Participants in UPStart also enjoy a range of supplementary benefits, including access to various program services and discounted rates on vendor-provided services due to UPStart's affiliations with preferred vendors. Additionally, companies have the option to lease laboratory and/or office space at a rate of $1 per square foot per month.