Entrepreneurial Faculty
UNM Rainforest Innovations works with UNM entrepreneurial inventors to explore new inventions, commercialize UNM technologies, protect intellectual property and create start-up companies based on UNM inventor’s innovations. UNM Rainforest Innovations works through the commercialization process with this select group by identifying collaboration opportunities to leverage the prospect of commercialization of UNM intellectual property. UNM Rainforest Innovations can connect other faculty entrepreneurs and seasoned professionals to introduce new resources available at UNM and in the business community. UNM Rainforest Innovations can connect UNM Entrepreneurial Faculty and Inventors to resources at various stages of company conceptualization, managing conflict of interest, start-up formation, funding, and facilities.
Conflicts of Interest
The purpose of the UNM Conflicts of Interest in Research Policy is to protect the integrity, trust, and respect of UNM, its academic community and its research activities. It enables compliance with applicable laws and other regulatory requirements to protect investigators who may be exposed to conflict of interest situations.
A conflict of interest is a situation associated with an investigator’s research in which it reasonably appears, on an actual or potential basis, that the investigator’s significant financial interest or situation could directly and significantly affect the design, conduct, or reporting of UNM research activities or compromise professional commitments or allegiance to UNM.
For more information on managing a COI, see the links to the right.
The Health Sciences Center COI Committee also provides possible managements plans for COI situations. Please see more information at HSC COI .
External Links to Resources
Entrepreneurial Resources
Moving an invention from the lab to the marketplace is an exciting undertaking, but it can be daunting. A useful technology is just the starting point, a necessary but not sufficient condition for forming a successful company. The process of forming a company, however, is not a mystery and there are many sources of information available to help the inventor. Below are some links to get the new entrepreneur started.
If you have any questions or would like more information about the events and programs listed above, please feel to reach out to Cara Michaliszyn at cmichaliszyn@innovations.unm.edu.
Entrepreneur Resource Directories
- Start Now NM: https://startnownm.org/
- NMEDD Office of Justice, Equity, Diversity, and Inclusion (JEDI): https://edd.newmexico.gov/business-development/jedi/
- Resource Directory: https://edd.newmexico.gov/business-development/brc-directory/
- NMEDD Office of Strategy, Science and Technology: https://edd.newmexico.gov/business-development/edd-programs-for-business/office-of-science-technology/
- New Mexico Biotechnology and Biomedical Association Resource Center: https://www.nmbio.org/resource-center/
- City of Santa Fe Economic Development Resources and Events: https://us3.campaign-archive.com/home/?u=c0dd0e337c2d428734b74e5fd&id=b955159114
Business Planning
- Small Business Administration Guide to Business Plan Writing
- UNM Entrepreneurship Guide
- The Entrepreneur’s Guide To A Biotech Startup
- How to Really Create a Successful Business Plan: Step-by-Step Guide by Gumpert (Amazon Purchase)
- “Biodesign: The Process of Innovating Medical Technologies”. Structured like a textbook, this is a great guide for developing and commercializing medical devices and other biomedical technologies.
- Companion to the 2nd edition of Biodesign: The Process of Innovating Medical Technologies with informational videos: https://ebiodesign.org/
Resource Overview
Raising Funds
Definitions:
Allows for a start-up to raise small amounts of capital from large pools of individual investors. Web-based platforms such as Kickstart and Prosper allow entrepreneurs to raise up to $1 million annually, as sanctioned by the new legislation (JOBS Act).
This is an entity that has raised money for outside investors, called Limited Partners,that invest in start-ups, early stage, mid stage and late stage companies. They take an equity stake in the company and provide contacts, expertise and mentoring to move the company up the value chain.Micro-lenderThis is an entity that has funds, usually state, local and federal, to provide loans to start-up and early stage companies. They ask for collateral and usually assist the start-up and early stage company with business advice.Micro-lenders with Capital from the New Mexico Small Business Investment Council.
These are individuals in a group or individually who make equity investments in start-up and early stage companies. In addition to money, Angel investors like to influence the start-up or early stage company to move it up the value chain.
These are entities that raise funds from individuals and institutions, called Limited Partners, to make debt investments in early stage revenue companies. They invest in companies that have revenue and have earnings; they stay away from non-revenue, non-profitable companies.
These are entities that make loans to companies that fit into their investment profile. They are milestone based lenders; they beat the daylights out of their portfolio companies, if they don’t meet the milestones that have been agreed to.
This is the amount that a fund has raised from the limited partners but not deployed. Example: XYZ fund raised $30 Million and has invested $10 Million: Dry Powder = $20 million.
This is a fee that a fund, either equity or debt fund, charges its Limited Partners for managing their money. Typical fee is 2.00% to 3.00% of committed capital on a yearly basis.
The amount a fund has raised from its limited partners: Example: XYX fund raised $30 million from its limited partners, XYX fund has $30 million in committed capital.
The mechanism that funds use to “call” money from their Limited Partners. Example: Limited Partner “A” committed $1 million for fund XYX. Limited Partner “A” does not have to write a check for $1 million dollars, XYX fund will call money against Limited Partners “A” commitment, when they need to fund a company.
Training
- Library of Video Recordings on Entrepreneurial Topics – https://innovations.unm.edu/program-activities/rainforest-university-center/training-videos/
- Tribal Entrepreneurship Program – https://innovations.unm.edu/program-activities/tribal-entrepreneurship/
- Innovation Academy Courses – https://www.mgt.unm.edu/innovation-academy/our-classes.asp
- Rainforest Accelerator ($3K funding) – https://innovations.unm.edu/program-activities/rainforest-accelerator/
- National NSF I-Corps ($50K Funding) – https://www.nsf.gov/publications/pub_summ.jsp?ods_key=nsf18515&org=NSF
- UNM Rainforest Innovations Seminar Series – https://innovations.unm.edu/events/
- New Mexico Rainforest EDA University Center – https://innovations.unm.edu/program-activities/rainforest-university-center/
- New Mexico Manufacturing Extension Partnership – https://newmexicomep.org/
Mentoring
- Rainforest Mentor Office Hours ( at the Lobo Rainforest 3rd Friday of Month) – https://www.eventbrite.com/o/unm-rainforest-innovations-2995876357
- SCORE (Office hours at the Lobo Rainforest – Last Friday of Month) – https://albuquerque.score.org/
- PTAC – https://www.nmptac.org/
- NM Fast – https://arrowheadcenter.org/program/nm-fast/
Funding
- NMSBA Program Funding (Technical Assistance up to $20K in Bernalillo and Santa Fe County, $40K in all other counties) – https://www.nmsbaprogram.org/
- NMEDD Programs – https://edd.newmexico.gov/business-development/edd-programs-for-business/
- SBIR/STTR Funding – https://www.sbir.gov/
- New Mexico Angels – http://nmangels.com/
- UNM Rainforest Innovations Co-Investment Fund (up to $100K co-investment in UNM companies)
- New Mexico Venture Funds (examples)
- Verge Fund – http://vergefund.com/
- Cottonwood – https://www.cottonwood.vc/
- Sun Mountain Capital – https://sunmountaincapital.com/
- OneTen Capital/NMA Ventures – https://www.oneten.capital/
- Ingenuity Venture Fund: https://ingenuityventurefund.com/
Accelerators/Incubators
- UNM Rainforest Innovations Cecchi Venture Lab Incubator (office space) – https://innovations.unm.edu/venturelab/
- BioScience Center – http://www.thebiosciencecenter.com/
- WESST – https://www.wesst.org/
- CNM Ingenuity (formerly ABQid) – https://www.cnmingenuity.org/program/small-business-and-startups/
- Creative Startups – http://www.creativestartups.org/
- Food Industry Incubation Program – https://www.svedc.org/business-incubation-programs/food-industry/
Events/Networking
- Rainforest Pitch Competition (up to $1K funding) – http://innovations.unm.edu/epc
- Pitch Deck Competition (up to $10K in funding) – https://innovations.unm.edu/program-activities/2024-pitch-deck-competition/
- UNM Tech Navigator Challenge (up to $10K funding) – https://unminnovationacademy.wixsite.com/technav
- UNM Health Hackathon – https://hsc.unm.edu/ctsc/events/hackathon_index.html
- Lobo Hackathon – https://innovations.unm.edu/program-activities/lobo-hackathon/
- Entrepreneurial Events at the Lobo Rainforest – https://innovations.unm.edu/events/
- Innovate New Mexico Tech Showcases – https://www.innovatenewmexico.com/