How Our Division Facilitates Company Creation by Faculty, Staff and Students
For faculty, staff and students interested in starting their own companies in order to further develop technology owned by the University of Mississippi, it is important to know that this can be accomplished by following a few steps before you get started. The ORSP Division of Technology Management provides support for personnel who want to create companies around the products and technologies which they discover and/or develop while working at the University of Mississippi. A key consideration in the formation of a company is the potential for a conflict of interest. Interested individuals should discuss their company plans with the Director of Technology Management early in the process and should review The University of Mississippi Objectivity in Research Policy to become familiar with the potential conflict of interest issues.
The State of Mississippi is supportive of the creation of companies based on technologies discovered and/or developed by faculty, staff and students at Mississippi universities. The Mississippi University Research Authority Act (MURA, Mississippi Code 37-147-3) addresses the potential for a conflict of interest that occurs when an employee of the university wishes to have a material financial interest in a private entity which provides or receives equipment, material, supplies or services in connection with the university in order to facilitate the transfer of technology developed by the employee of the university to commercial enterprises for economic development.
Steps to Completing the MURA Process
The MURA Process should be completed prior to, or shortly after, a company is formed and requires the following actions:
- Preparation of an application to MURA using the MURA Form that initiates this process. The Director of Technology Management will assist the employee in completing this form, meet with the employee to explain the process and discuss licensing of technology from the University to the company.
- After all appropriate signatures are received, the Chancellor submits the MURA application on behalf of the University employee to the Mississippi University Research Authority Board of Directors.
- Once the review is completed by the MURA Board, the employee will be notified by the Division of Technology Management as to the approval or denial of the application. It is important to note that annual reports are required to MURA regarding the status of company operations and any material changes. The employee will be contacted each June by the DTM staff to provide any details relevant to this report.