What We Do
Our mission is to develop UR innovations into useful products and services to make the world ever better. We are rarely able to do this on our own. Most of the time, we need help. Your help. Our goals are aligned: you need cutting-edge products and services to give you a competitive edge and we need a partner willing to develop our innovations into marketable products and services.
Conventional business wisdom is often to avoid failure and to minimize risks. Recent thought in entrepreneurship, however, calls this mindset into question. Lean Startup techniques, for example teach failing early and failing often in order to succeed sooner. They stress using prototyping and regular customer feedback as touchstones for rapid iterative development of the final product or service. At UR Ventures, we are embracing these concepts. Our goal is to locate whatever available resources we can find to get to the finish line. If an idea’s destiny is to die in the “Valley of Death,” then we want to arrive at that conclusion as quickly and cheaply as possible.
Failure to commercialize a technology is not the worst possible outcome. To our way of thinking, languishing uncertainty is a far worse outcome, and wasting time and money in getting to a necessary failure is unacceptable.
UR Ventures has adopted a project management approach to every discovery. We focus on locating and securing the resources necessary to achieve success … or in defining the gaps and missing resources standing in the way of success. Tough business decisions must be made, and we need to develop the information and resources to be better able to make those decisions, and then to match our products and services with businesses and investors that will move them to the market. We aim to develop our innovations inside the University to a stage at which you can see the concepts proven and de-risked enough to believe in them and to carry them forward.
Every discovery that comes through our door presents a unique challenge. We look forward to meeting those challenges head-on.