The following policy has been developed in an effort to promote and encourage an environment that supports industry partnerships, collaborative research and commercialization. It is intended that by providing an administrative structure to support selective industry use of space owned by the University, additional interest in developing industry relationships at each college and school might be stimulated. The 2001 Report of the University Incubator Management Committee provided guidance for this policy.
All for-profit incubation companies located on any university campus shall follow standard leasing policies and procedures including, but not limited to, the following:
- All leases must be approved by the Board of Trustees
- All arrangements under consideration will be discussed in advance with the Vice Provost for Research and will be approved before a lease is offered
- All leases will be signed by the Chief Administrative Officer and the Vice Provost for Research and have the approval of the appropriate dean or department head◦Square footage rates will be determined in consultation with the Leasing Office
- All leases will follow the form and structure provided by the Attorney General’s Office
Application and Leasing Process
All incubation companies located on any campus as a result of a collaborative relationship with faculty, staff or students will follow the application procedures and polices of the Incubation Program. Upon completion of the leasing process they will be considered members of the Incubation Program and have the same rights and privileges of all current Incubation Program firms. This does not include vendors and companies leasing designated commercial space.
The Incubation Program was developed to support technology transfer, collaboration and to provide students and faculty with a supportive entrepreneurial environment. It provides start-up sized space, services and procedures to help assure that all such relationships meet their full potential and are in compliance with University polices. Incubation Program procedures include: An application process with a review of information provided by the company that is sufficient to determine that the relationship with the University is beneficial to the goals of the University, and that there is a plan in place for the company’s operation at the University with milestones to assure accomplishment of mutually beneficial goals by the end of the lease term
- A written assessment of the company’s application materials that includes a justification for admission to the program
- Regular updates on progress and an annual review against milestones
- Provisions for compliance with all University, State and Federal rules and regulations including those for Environmental Health and Safety (EHS) and where appropriate rules related to animal care, use of human subjects, embryonic stem cells, other biomaterials, etc.
- A three year lease period with a graduated cost structure
- Documentation of insurance and other appropriate terms to assure that the University and the State are adequately protected from possible liability
Incubation Program services that will be offered to each company will include, but are not limited to:
- Business counseling
- Marketing support
- Access to mentors and advisors
- Access to the University IT system, library and electronic collections
- Participation in events of interest to early stage firms
- EHS training
- Access to specialized facilities, equipment and instrumentation by special arrangement
- Parking privileges on the same terms as university employees.
It is intended that use of the Incubator structure will promote new opportunities and provide support for industry collaboration through a transparent system that reduces the potential for conflict.
Availability of Space
Faculty and staff should not be displaced for the placement of companies. Space designated for academic uses will only be offered to for-profit firms if vacant and not known to be needed for academic purposes during the term of the lease.
The University’s academic needs will first be considered before companies are allowed access to space in the control of academic departments. Deans and Department Heads will be consulted on such decisions. It is only with the consent of the Vice President for Research and the appropriate Deans that a Incubator Committee review will be undertaken for use of an academic space by a company and these individuals will be consulted through out the leasing process.
If University space is being renovated at a cost greater than or equal to $50,000, the renovation plans need to come to the University’s Building and Grounds Committee for approval.
Compensation
Compensation for space in the control of academic departments will be determined based on the location of that space and the value of the relationship to the university, college or school. A written assessment and justification may be utilized to support compensation decisions as well as the standard rate structures developed by the leasing office to recover costs.
Since all space is owned by the University, the disposition of such compensation will be determined through discussions between the appropriate Dean and the Vice President for Research. The value and degree of collaboration with the University, college or school will be considered in those discussions, along with the costs associated with operating and maintaining the space. Decisions on the disposition of funds will be made in a collaborative fashion in order to offer an incentive for each school and college to support industry partnerships.
This compensation structure is specifically based on a proposal of the 2001 Incubator Management Committee and may be further memorialized in MOU’s between the Vice President for Research and each College and School as recommended in that report. In addition, this policy is much like the University’s Royalty Sharing Policy which provides a sharing of revenue with Deans and Department Heads for discretionary use within their respective areas.