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. Venture Center Tutorials.
- Revenue Status: Technologies generating External Sales or licensing revenue (or similar) within the University are not eligible for this program.
Ignite Option Key Features:
- Flexible-Term Access: Option agreements span 6 months–3 years, providing startups with the time to validate and de-risk their innovations.
- Affordable Entry: $1000 upfront payment for 1 year or less, with an additional $1000 for each additional year —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 patent expenses.
- Performance Accountability: Startups must meet milestones or risk termination of the option 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.