An Entrepreneurial Research Based Organization Lecture Notes

Guest Lecturer: Duncan Hitchens VP Lynntech, Inc

Lynntech-research company located in College Station

·         “technology pipeline”

·         combination of many different expertise

·         creates patented ideas that are then sold  to major companies

·         major funding is provided by the US Government

·         examples of innovations; fuel cells, ozone sterilizers, preclinical studies (longer life-time hip replacements), environmental remediation, cancer diagnostics, sensors, etc.

Getting started

·         Many companies are unofficial outgrows of universities (ex-MIT University)

·         Create a financial model (Lynntech saw the opportunity to be funded by the government)

·         Be both a business person and a scientists

·         Understand big company and a small company culture

·         Maintain tight ownership control of the company

·         Find people with a passion for technology “Blue Collar” Ph.Ds., self-direction, and motivstion by the mastery of something

Organizational Structure for Creativity:

·         The combination of people from different scientific backgrounds