Risk/reward v ownershipEntrepreneurs are often as protective about their embryonic businesses as they are with their own babies! It can be hard to let go. But whilst all start-ups need an idea/innovation to begin, their ultimate success is down to not one individual but a successful team. Hiring great people is just as important as raising finance, getting IP/patents, securing contracts, etc. The challenge is persuading great people who are probably very happy in their current role and well paid, to take the risk and join your start-up. There are many factors to take into account when looking at offering incoming executives equity/options. However, there are some common bands to work within. Most NED’s will expect between 1-3% equity. Executive Board Directors will be looking for 2-8%. The higher end of these bands will often be offered in return for less cash, and the lower end in return for market rate salaries. The amount of equity offered needs to compensate for someone joining who might be giving up a significant bonus element, and/or valuable benefits package. It also needs to reward the individual for the significant ‘blood, sweat, and toil’ element needed to grow a successful start-up business. The key point is that your start-up business, will only be as good as its people.
Research, industry, and AGI
A transfer of knowledge to industry is a good thing: One purpose of a university is to benefit society by disseminating knowledge, and one way this can be done is by commercialising research. Universities and research institutions are a dynamo for entrepreneurship, and for innovation in large companies. READ MORE
For success in product development – start at square zero
When it comes to the commercial success of a technology-led product, there are a number of factors that come into play along the development journey. Have the regulatory requirements been met? Can the design be produced at a viable cost? Is it possible to ensure the quality of the manufacturing process? The list goes on. READ MORE
The not-so-small matter of scale: Making it big in microfluidics
Microfluidics is a key technology enabling the development of rapid in-vitro diagnostics (IVD). With applications including COVID-19 testing, cardiac arrest assessment and STD screening, decentralised rapid diagnostics are shaping up to be a major part of the future of healthcare and wellness monitoring. READ MORE