We welcome Professor Peter Dobson, OBE from The Queen’s College, University of Oxford as our guest speaker for this MAPS I&E Seminar: What to do and avoid in starting a company
25 May 2022, 9:00 AM – 10:00 AM ET.
Ethne James-Souch (on behalf of MAPS Vice-Dean I&E Prof Nguyen TK Thanh)
Before embarking on starting a company, you need to ask yourself and others a lot of questions, because it is likely to change your life.
- Why are you doing it? Is it because you see this as your only way of exploiting your ideas? Is it for the good of humanity? Do you want to create jobs and personal wealth?
- Why not license the ideas to existing companies? This will avoid a lot of hassle but probably reduce your value and control.
- Have you done due diligence on the idea? Have you checked for other companies, both collaborators and competitors? How does their Intellectual Property compare with yours?
- Is there a “supply chain” involved? And where do you sit in this supply chain and are you vulnerable?
- Will you manufacture or sub-contract?
- Are you going to be employed by the company and in what role?
- How many people will work for the company in the first years and later? How will you recruit them?
- Where will the company be based and how much space and facilities are needed?
- How will you raise money to start? And, do you have a clear idea how to sustain the growth of the company?
- Do you have an “exit plan”?
Many of the answers to these questions carry possible “red flags” and are avoidable, this seminar discuss these.