ORNL launches program to help serial entrepreneurs find their next opportunity
Safari is a complement to the U.S. Department of Energy's PACT program.
Oak Ridge National Laboratory has launched a new entrepreneurial start-up program, Safari, as an addition to the U.S. Department of Energy’s Office of Technology Transitions Practices to Accelerate the Commercialization of Technologies, or PACT, program.
In the case of Safari, it is designed to connect post-exit entrepreneurs with commercially relevant technologies developed by world-leading scientific experts, which could provide the basis for a new business. A post-exit or serial entrepreneur has established and sold at least one company. Another term frequently used is serial entrepreneur.
“An experienced entrepreneur is likely to succeed in subsequent business ventures,” said Jennifer Caldwell, Director of Technology Transfer at ORNL. “Safari aims to thoughtfully and expediently connect entrepreneurs looking to start a new company with available high-impact technologies.”
ORNL holds a portfolio of hundreds of innovations developed in the course of the lab’s research and development missions with applications in manufacturing, energy and utilities, materials, chemicals, analytical instrumentation, and transportation. ORNL Safari Innovation Managers will conduct interviews with interested entrepreneurs to develop a curated portfolio of options to consider.
“Our team has a lot of experience working with researchers who have spun out their own companies as well as with licensing technology to new entrepreneurs and well-established companies,” Caldwell said. “Safari allows us to apply that expertise before a company is even created to maximize the potential for success.”
Once an entrepreneur has selected the technologies of interest, ORNL’s technology transfer team will host them for a tailored technology “safari” at the lab — a series of discovery meetings with researchers, laboratory tours, and demonstrations — with the aim of successfully matching the entrepreneur to a technology for licensing. During this visit, interested entrepreneurs can also be connected with local and regional networks and resources.
With the assistance of Safari Innovation Managers and the entrepreneur’s start-up team, the entrepreneur will identify and evaluate a selected business opportunity and develop a commercialization plan that considers product, market, financing, and team structure. With a plan in hand, an entrepreneur can seek a license for the intellectual property supporting the innovation.
Entrepreneurs interested in starting their “safari” should click here to complete the interest form.