Help with your idea
1
Idea evaluation
Your first contact with us is a meeting where you share your idea. Then we start an investigation into the uniqueness of your idea and its market potential as a valuable product or service. We look at five factors when evaluating your idea’s potential:
New idea?
Are there already similar products, services or possible patents on the market?
We conduct market research both nationally and internationally to see if there is an actual need for your product.
Enthusiast
An enthusiast who can drive the project forward is critical. If you as the inventor don’t have the time or the motivation to do this job, we can find a qualified resource to handle it.
Team
A good project team with essential and varied skills is crucial for success. The team can be ready when you come to us or we can develop it as needed as we go along.
Anchoring
Strong support from colleagues and managers can ease your path to success. Assuring connection with these target groups is crucial, and an important element to work with throughout the project.
Potential
Once we have evaluated all these success factors – idea, need, project management, team and anchoring – we have a picture of the idea’s potential. Then we can decide whether to move on to the project phase.
2
Project phase
Buying time
Financing
Proof of concept
Patent
License agreement
or Spin-off
During the project phase we begin to develop the idea, adding what it needs in order to reach the market. The road to the market can vary depending on what type of project we enter into together, but the goal for all projects is to enter into a license agreement with a relevant industry player or to start a spin-off. The points below are relevant to most of the projects we work with.
Buying time
Financing
The path from initial idea to the market involves many hours of work and extensive equipment and travel – and that costs money. The Research Council and NTNU Discovery have resources that TTO has special access to. By helping with applications, we have obtained over NOK 1 billion Norwegian (USD 125 million) in support of our projects.e våre.
Funding is required to develop your idea. Experience shows that developing a prototype or other form of Proof of Concept may cost anything from NOK 100,000 to more than 5 million. TTO has access to several sources of funds for this purpose:
NTNU Discovery
NTNU Discovery is a funding scheme aimed at potentially commercially viable research from NTNU. The scheme is funded jointly by NTNU, Sør-Trøndelag County, North Trøndelag County and Sparebank1 SMN. NTNU Discovery allocates project funds upon application of up to 1 million. An external group (allocation committee / jury) consisting of six experienced, professional, independent operators assess and decide the allocation of grant request. Read more about the scheme here. (Norwegian)
FORNY
Projects in early stages often have a higher risk than professional investors can accept. FORNY is the Research Council’s program aimed to bring the results of publicly funded research institutions to the marketplace. FORNY supports verification activities related to clarification of possible applications and market potential, testing the concept, technology or prototype, demonstration, development of business model, protection of rights, or establishing contact with customers and users. Read more about the scheme here. (Norwegian)
Innovtion Norway
Innovation Norway has a number of measures aimed primarily at companies alone or with companiescooperating with approved research institutions. “Research and development contracts” (IFU/OFU), “Skattefunn” or “Establishment Grant” is particularly appropriate in accordance with our own company formations. Read more about the scheme here. (Norwegian)
Other pre-seed funds
As an active player in the innovation industry TTO keep up to date, is well acquainted with and seekfunding in terms of technology verification from other pre–seed funds, such as Medtech Trondheim, NovoSeed etc.
Various idea competitions
Both in terms of developing ideas, energy input and access to development funds, projects from the TTOare often represented by different idea competitions such as Start Støtte, Venture Cup, DnB’s innovasjonspris, etc. (Norwegian)
We take responsibility for writing applications and follow-up of available funds that may suit your idea. Up to the present, TTO has obtained almost NOK 100 million for this type of project financing. Most of these funds have been spent on buying your time in connection with developing ideas.
Prototype
Patent
Although patent protection is often the most important step for safeguarding an idea, in other cases design protection may be more relevant. Our TTO patent experts have extensive experience writing patent applications and can help you sort this out. Seeking patent protection is no obstacle for publishing, but it is important to apply for a patent first.
License agreement
One option for launching your idea on the market is to lease the right of use for your concept to a firm through a license agreement. This business will typically then handle most of the ongoing job, with you and your team being paid a fair part of the profit.
Spin-off
Another option for reaching the market is to start a new spin-off company. As the inventor, you can choose to work in the new company, or you can continue to work in your current job and hold a share in the spin-off. We’ll be there to support you all the way, as long as our support is needed.
If we choose to establish a new company, we will do so in cooperation with you. You don’t necessarily have to be the company’s general manager, but your role will nevertheless be a central one, e.g. with a position on the board. We will find a satisfactory solution.
So far we have established more than 100 new companies. Of course none of these are alike, but TTO’s tasks often comprise:
- Generating the required documents to set up the new company
- Composing the company’s board and management
- Come up with the required initial funds
- Protecting the company’s name, logo, domain name, etc.
- Developing a comprehensive business plan
- Developing your idea in the new company
- Find the right investors
- Preparing shareholder agreements and cooperation agreements with e.g. NTNU
- Preparing any option schemes for key personnel
3
Portfolio phase
In the portfolio phase the project is ready for product launch in the market, either in the form of a spin-off or a license agreement case. Success is all about doing the right things. And doing things right!
Board work
All companies have to have a board. We work to put together the most optimal and complementary board possible based on our competence and networking. As a rule, the board should not function like a foundation, but rather works closely through each phase of the company’s development. TTO has extensive experience with boards, both as board chairman and also as members of the board.
The company’s strategy must be adapted to the direction it is going and the phase it’s in. We work closely on strategy processes with our companies, both in the boardroom and also on the outside.
IP Management
A company’s Intellectual property (IP) is an important competitive advantage and must therefore be maintained and developed, and adapted to the company’s strategy. TTO has its own experts in this field.
Recruitment
The (management) team will always be one of the most important assets the company has. Selecting the start-up team is critical, as is the recruitment of future key personnel and board members. We have the experience to help in this process.
Investor and industry contact
We have a significant capital network. This includes both private investors and investment funds. We also have extensive experience with the acquisition of various forms of “soft money” through various available means. In addition, we have a large industry network that is important both in the idea/project phase, as well as for the companies once they are formed.