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Leaving aside the question of whether spinouts are the optimum way in which to commercialise research (compared with licencing, for example), it appears that more analysis need to be undertaken to determine why spinouts are not as successful as they could be, particularly in realising profit for their investors through successful exits. Furthermore, there could be closer consideration by universities of the following questions:

Should there be a more rigorous approach to establishing exit planning strategies when spinouts prepare their business plans at start-up? Should there be more extensive training of academics intending to commercialise their research in business management and practice, the raising of finance, investor relations, IP protection, marketing and exit planning?

How can the quality of management and staff in university technology transfer offices be improved? Also, perhaps those UK universities with a less than successful history with spinouts and those coming into the spinout business for the first time could follow more closely the approach of Oxford and Cambridge Universities, as well as the template established by the successful American academic institutions.

Inventor shows and workshops occur in numerous cities across the country throughout the year. Many times there is no admission charge to go and browse through the exhibition hall where inventors have booths displaying their inventions. Just walking the hall and visiting with other inventors can be an extremely valuable source of information and contacts.

Independent inventors are generally a very friendly and giving group of people who will gladly share their experiences and sources of help. Inventor shows and seminars often have workshops and lectures on various phases of inventing taught by experts in the field. The fees to attend the educational sessions are usually quite nominal while the education you receive may save you thousands of dollars over the long haul. The two largest shows of this type are the Yankee Invention Exposition, which is held each October in Waterbury, Connecticut, and the Minnesota Inventors Congress which is held each June in Redwood Falls, Minnesota. Although these are the two largest such shows, others occur throughout the year.