Technology Ventures development follows along a technology development process. The process begins with the incubation phase, in which academia, spin-offs and inventors cooperate with the industry partner to incubate the technology, and to develop and eventually found a Start-Up.
After the Start-Up has been founded, it enters its development phase, in which academia offers support with research and the laboratory infrastructure, while the Start-Up executes and delivers R&D services funded by the industry. Both the Start-Up and industry R&D define common technology development targets and plan R&D delivery, industrialization, field testing and product delivery. Achieving the first industrialized products, the Start-Up supplies products to the industrial business unit and actively explores adjacent markets, according to the commonly developed business plan.
While establishing its business, the Start-Up scales its production and market capabilities. Depending on the size of the Start-Up business, its acquisition from the industry partner or many other exits can be of interest.