Discoveries that Dare. Ventures that Endure.
The Ignite Option is the University of Minnesota’s entry point for faculty-led startups, providing a flexible-term (1–3 years) opportunity to develop, validate, and prepare innovations for full commercialization. It enables early access to UMN intellectual property while founders form a legal entity, conduct customer discovery (with 20+ interviews), and advance technical and business readiness.
With affordable terms, milestone-based progress, and support from programs like MIN-Corps and the Venture Center, Ignite gives teams the time and tools to build momentum before committing to a license—while the university holds the innovation exclusively in support of the startup’s success.
Pre-Launch Checklist (Required):
- UMN Founder Participation: The startup must be faculty-led, with University of Minnesota researchers listed as founders and equity holders.
- Customer Discovery: Completion and documentation of 20+ customer interviews, ideally through the free MIN-Corps program.
- Company Formation: A legally established entity with a dedicated webpage, logo, and business email—clearly distinct from the University.
- Revenue Status: Startups already generating revenue from UMN technologies are not eligible for this program.
Ignite Option Key Features:
- Flexible-Term Access: Option agreements span 1–3 years, providing startups with the time to validate and de-risk their innovations.
- Affordable Entry: Just a 5% equity commitment—no upfront cash payments—provides early access to UMN technology.
- Milestone-Based Structure: Progress is tracked through defined technical, market, and business development goals.
- Patent Expense Coverage: The university covers U.S. patent costs during the option term; startups are responsible for international costs.
- Performance Accountability: Startups must meet milestones or risk option termination after a 30-day cure period.
- No Shop Clause: UMN won't market or license the technology to others during the option period, securing exclusivity for the startup.
Access startup tools, grants, incubators, and mentorship through the Venture Center, Discovery Launchpad, and programs like MIN-Corps, Discovery Capital, and I-Corps.