The staff of Project Management Juelich (PtJ) monitor start-up projects that are funded by EXIST Transfer of Research by way of detailed discussions.
Kick-off discussion (Start-up Dialogue)
Within the first three months of the funding period questions regarding the administrative and technical implementation of the project are clarified during the kick-off discussion. The coaching requirements of the team are determined and compared with the services offered by the selected coach and by the local Entrepreneurial Network. A suitable coach is recommended in case a coach has not yet been selected. The start-up dialogue aims at establishing the tasks, areas of responsibilities and milestones to further develop the business concept.
2nd project discussion (Strategy dialogue)
Both the research project and start-up concept are evaluated during the course of the project to see how these are evolving. The business plan and financial concept of the EXIST Transfer of Research project form the basis of this evaluation. The results of market research, contacts to pilot customers and distribution partners and if relevant, the status of the approval procedure and patent application are also discussed. The strategy of the start-up project is further refined and the steps for submitting an application for Phase II of funding are defined.
3nd project discussion (Financing dialogue)
The entrepreneurial team should take early measures to secure follow-up financing. This dialogue prepares the Entrepreneur Team for future financing negotiations. Not only the quality of the financing plan but also the presentation of the business by the entrepreneurial team counts. Together with the coach the most important financing steps are determined and contacts to suitable investors are conveyed. A team start-up is recommended to cope successfully with the different requirements that are made of a business manager.