Palo Alto Research Center (PARC), the R&D group credited with developing laser printing, Ethernet, the graphical user interface (GUI) and object-oriented programming, has launched Startup@PARC, an initiative to partner with entrepreneurs and investors to bring transformative technologies to market.
The open innovation model is not new to PARC, a wholly owned subsidiary of Xerox since 2002, but the introduction of a formalized process to engage small ventures and entrepreneurs is, says PARC spokesperson Linda Jacobson. "Serendipity" best describes the previous process, she says.
Startup@PARC will create customized partnerships for new ventures participating in the program. PARC's input may include technical expertise and intellectual property, facilities resources, and laboratory space. In return, PARC will receive cash, royalties, equity compensation, or a combination.
"Through Startup@PARC we are applying the market experience and strategic business lessons learned" from many efforts with new ventures, says Mark Bernstein, president and center director at PARC. "We also offer the right teams an unprecedented opportunity to access our extensive portfolio of intellectual property and deep scientific competencies."
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