Become a Member
The Innovation Laboratory uses four key decision points when admitting start-up companies
More specifically, early-stage companies should seek to satisfy the following criteria for admission into the Innovation Laboratory
- Proprietary advanced technology concept or prototype
- Commercial product, service, or process
- Qualified management team
- Distinct market opportunity
- Company growth potential
- Start-up funding
- Potential investor attractiveness
- Strategic business plan
Early-stage technology based companies that meet the above criteria should complete a pre-application and submit it. The decision to admit a company is made following a presentation and technical assessment before a review committee.
Contact us at Innovation_Lab@etsu.edu for more information.
We are unashamedly highly selective and are looking for realistic though innovative technology-based business opportunities which will add value to the regional and local economy. Innovation is defined as a state of mind combining creativity, entrepreneurship and a willingness to take calculated risks. The ETSU Innovation Laboratory operates in a climate where innovation - with a focus on technology - is vital to the future of local and regional competitiveness.
We are focused on four principal client groups which are:
- Individual Entrepreneurs
- Innovative small business start-ups
- Large businesses with projects or technologies to spin-off
- University and research organizations with opportunities to commercialize
Our selections are very strict as we look for innovations that can add value to the economy through the creation of wealth, job creation or sub-contract opportunities for existing businesses.
After an initial assessment of the technology and application review process, the role of the Innovation Laboratory is to facilitate the business development. In-house expertise and resources are available in technical assistance, business management, marketing, and business training. External support can be called upon as required. We focus on a practical, hands-on, team based approach with a commitment to success. If your proposal does not meet our criteria, we will try to redirect you to another more appropriate agency.
Companies admitted to the ETSU Innovation Laboratory will use their best efforts to meet graduation criteria established by the company management and the Innovation Laboratory. Whether an on-site company or an off-site affiliate company, graduation is expected after achieving one or more of the following:
- Company reaches maximum allowable stay
- Company space requirements exceed available space
- Company has experienced significant revenue growth and/or profitability
- Company no longer needs or uses business assistance services
- Company has acquired significant funding, is acquired, or makes a public stock offering
- Company has a significant product/services sales and/or backlog indicating a customer need
- Company has a well thought out operating plan and financial backing to carry on outside the Innovation Laboratory.