With the TUMentrepreneurship strategic concept, TUM set itself the goal of increasing the number of start-ups of growth-oriented technology companies from the sciences. The project is funded by the German Federal Ministry for Economic Affairs and Energy (BMWi) as part of an EXIST competition entitled “Culture of Entrepreneurship – Entrepreneur University.”
The planned activities focus on scientists and scholars at Technical University of Munich who have thus far had too little exposure to business start-ups. The aim is to unlock entrepreneurial potential, especially in future-focused areas with high levels of added value for society: medical engineering, clean tech, life sciences and information and communication technology. With support from the “EXIST Culture of Entrepreneurship – Entrepreneur University” program, Technical University of Munich is developing four entrepreneurship elements as part of TUMentrepreneurship together with its affiliate Institute for Innovation and Start-ups, UnternehmerTUM:
Efficient Spin-off Process
The focus lies in implementing a systematic start-up process. This should motivate scientists and scholars to found growth and technology-oriented start-ups. Start-up advisors run a one-stop shop for advice, from focusing a business to concrete implementation, answering any and all questions on the topic of starting a business. The start-up process involves developing entrepreneurial talent from the academic sector, finding applications for research findings and technologies through start-ups and establishing growth-oriented companies.
This involves setting up processes that promote start-ups, efficient flows of communication and an infrastructure that nurtures creativity. An attractive incentive system is tasked with helping to provide academic founders with more time, premises and motivation through role models or awards for outstanding start-up teams.
Regional, national and international networks are being established with entrepreneurial talents, inventors, experts, investors, pilot customers and alumni. It is crucial to make TUM’s strong entrepreneurial network accessible to potential founders.
The use of state-of-the-art methods and tools is necessary to effectively implement the start-up process as part of TUMentrepreneurship. The aim is to develop a knowledge base that expands upon current findings in entrepreneurship research and develops best-practice methods for growth-oriented technology companies.