McGovern Center space License
At this point, when all of the above documents are in place (NDA, Screening Tool, Application, Business Plan, Management Team Interview, POSHER) we will negotiate the Center Space License. A copy of the template is below. Highlighted text and text on which there are comments focus on the "discussables". When we have all agreed that this document is “signable”, it will go—with Center Staff recommendation-- to the Center’s Advisory Council for a vote. The Council will review the Screener’s Executive Summary, the full Application, and the Business Plan. The Center Director answers any individual Council Member’s questions and publish both questions and answers to the full Council. A proposed resolution is then offered to the Council. This resolution recommends admission of your Company into the program, and recommends that the University should execute the Space License. A majority Council vote in favor is required for admission. This vote is typically conducted by e-mail. The Council vote is usually held open until votes have been recorded by all Council Members, although applicants will be notified as soon as a majority has been achieved.
To execute our Contract(s) the Real Estate Department and Division of Finance and Administration (“DFA”) must execute the Space License, upon which you can move in. We usually have a “Photo Op” and some press notices with the arrival of each new client. We create a door sign for you and a Center Plaque, employing the Company’s logo.
Once your company is in the Center’s program, the real work will start—we jointly develop a program to add value to your company, so that in 18-24 months, the company will become self-sufficient via revenue, or through significant industrial private venture capital investment.