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Louisiana Tech University

Policies & Procedures

Policy 7120 - Technology Incubator Policy

Effective Date: 8/3/2005

Responsible Office: Office of Research and Innovation 

Policy Objectives

A goal of Louisiana Tech University is to facilitate the practical application of knowledge for public use. The University wishes to facilitate the creation of ideas and inventions that benefit society from public and private investment in funded research at Louisiana Tech. To this end, the University has adopted the Technology Incubator Policy to facilitate the development of new commercial enterprises growing out of the University’s research and educational activities. The general objective of this Policy is to provide guidance and structure for the management and governance of a University-based Technology Incubator.

1.0  Scope

This Policy pertains to the incubation of business entities that seek entrance to the University’s Incubator program and are eligible to participate according to criteria outlined below.

2.0  Incubator Administration

3.0  Incubator Facility

4.0  Incubatee Application and Selection

Applicants to the Incubator must provide information on (1) the history of the project, key personnel and relevant intellectual property; (2) ties to Louisiana Tech (historical, ongoing, and anticipated); (3) proposed or actual ownership of and governance plan for the business; (4) facilities and services desired from the Incubator; and (5) a complete business plan for the applicant (including a current financial statement and financial plan). The Executive Director will decide on the acceptance of a prospective Incubator Company and will negotiate the terms of admission, drawing on the advice of the Board of Advisors as needed.

5.0  Approval and Execution of Documents

The University has the sole right to negotiate and enter into agreements regarding the use, commercial development, distribution, publication, transfer, and other exploitation of intellectual property which is owned by the University or to which the University otherwise has rights under this Policy or the University’s Intellectual Property Policy.