At the first meeting, or shortly after, we will plan the basic approach to the opportunity. Typically the plan will entail actions for the academic staff as well as the RED staff. It is very important to be in regular communication, perhaps meeting periodically to review progress and re-plan as appropriate.
If the innovation is potentially the basis of a new company, modest amounts of early stage funding may be available from the University’s Enterprise and Impact Development Fund (EIDF). EIDF funds are particularly used for meeting the external costs of market investigation and preparation for a spin-out company.