One of the most common mistakes would-be entrepreneurs make is thinking that they need to design something totally novel to be successful.
That’s a myth. Not every entrepreneur is an inventor.
There are swarms of flourishing entrepreneurs pursuing profitable opportunities by improving on known products and services.
A lesser-known group of entrepreneurs is in between the inventor and improver, developing successful companies using other people’s inventions to bring something new to the marketplace.
We call them licensees.
Last month we reported on a new venture called Cor-Tuf, a startup company in Virginia that is manufacturing and selling the toughest, longest-lasting concrete in the world.
Doug Darling, the entrepreneur who started the company, didn’t have to spend tens of millions formulating and testing the revolutionary concrete.
Doug leveraged the government’s investment in R&D by licensing the concrete from the U.S. Army Corps of Engineers–that’s who paid for the research and that’s who patented the resulting concrete invention.
There are hundreds and hundreds of other inventions still waiting for entrepreneurs. That means you can be like Doug. You can be an entrepreneur and a licensee.
Then contact us and start taking advantage of TechLink’s free services–that’s what Doug did.
TechLink is a non-profit partnership intermediary, per Authority 15 U.S.C. 3715, which guides entrepreneurs and businesses through the technical evaluation and licensing of inventions from the Department of Defense and Department of Veterans Affairs.