FastTrack for Engineering/Physical Sciences

Applicable Technology fields:

Semiconductor, electronics, non-biological chemistry and materials, energy, optics, photonics, MEMS/NEMS

Key financial terms for the Exclusive License

Equity 4% non-dilutable through subsequent equity financing aggregating $2 million OR 1% non-dilutable until Change of Control
Upfront Payment $0
Royalty 2% of Net Sales* without Anti-Stacking term OR 3% of Net Sales* with Anti-Stacking term (potentially down to 1.5%)
Sublicensing Pass through royalty**, then 15% of other sublicense income OR No pass through royalty**, then 25% of all sublicense income
Milestone Payment $0
Annual Fee

(Creditable against royalties within the same year)

1-4 years: $0

5-6 years: $15K/year

Annual after: $40K/year

Patent Expenses Reimbursement of all past Patent Expenses, plus the first $5,000 in future patent expenses, will be deferred up to 2 years or until $2 M equity financing.

(For any startup companies that elect to locate their principal operations in Tompkins County, NY, Cornell will increase the $5,000 to $20,000 and extend the 2 years to 3 years.)

* For products based on licensed Cornell technologies
** Pass Through Royalty means the sublicensee applies the same royalty rate to its Net Sales as the licensee