Cowboy Technologies, LLC
Cowboy Technologies to help propel OSU startups to success
As the next step in a commercialization program developed to successfully transition ideas from the lab to the marketplace, Oklahoma State University has created a new firm to nurture its faculty inventions to commercial success. Established through OSU’s Center for Innovation and Economic Development, Cowboy Technologies, LLC is a for-profit entity that provides management and marketing expertise along with up to $100,000 in seed funding to selected OSU-developed technologies.
“It’s very important for universities to be able to transfer and commercialize the technology and innovations we produce for the benefit of the state,” said Stephen McKeever, Vice President for Research and Technology Transfer. “The more companies we can spin out of the university, the better it’s going to be for creating jobs.”
McKeever said the new firm will put in management support and additional resources to mature the technologies to the point where private investors would become interested. At that point OSU will spin them out of Cowboy Technologies into a standalone entity.
Prior to selection for Cowboy Technologies, the inventions advance through several other stages and programs strategically designed to enhance their marketability, said Steve Wood, a clinical faculty member from OSU’s School of Entrepreneurship who oversees many of the university’s technology commercialization efforts. Prior steps include disclosure and patent filing, grants for prototype development, and business planning.
“These steps are among the best practices by other top public universities that successfully launch start-up companies,” Wood said.
OSU hopes in the near term to welcome two to four companies a year to Cowboy Technologies. McKeever said he believes Cowboy Technologies will make the companies more stable, more viable, more likely to succeed in the future.