Automous completes technology transfer
Aalto University has assigned technology and intellectual property rights (IPR) to Automous, becoming a founding shareholder in the process.
Aalto University spins off research-based start-ups all the time.
This is in line with Aalto’s mission, one aspect of which is to maximize the societal impact of research.
But Aalto cannot just give away valuable technology and IPR to any company.
Technology transfers always need to be compensated for, either by equity in the spin-off, or by a share of revenues that the spin-off makes over many years.
This holds even if the personnel spinning off the company had originally competed for, and won, much of the funding invested in the transferred IPR, and done all the research resulting in the transferred IPR.
As is often the case - like now with us.
As our pre-seed funding became clear enough, Aalto completed the transfer of intellectual property rights to Automous Oy, and Automous Oy issued shares at Aalto.
The intellectual property transferred includes advanced software, and one patent application in progress.
At this point we wish to thank Aalto University’s Automation in IT research group, School of Electrical Engineering and Automation, Aalto Innovation Services, and Aalto Startup Center for all their continued support, which has enabled us to reach this milestone.
We will do our best to grow the societal impact further.”
Taneli Hölttä, CEO, Co-founder (previously Commercialization manager at the research group)