Benefits to Faculty

Marketing Outreach

• Assistance with the development of a focused marketing plan

• Target marketing based on faculty expertise

• Database of faculty expertise (talent matching)

• Assistance with contract negotiations including scope of work and explicit client and faculty expectations

• Budget development

• Assurance of appropriate remuneration

• Follow-up to ensure client satisfaction and determination of future projects

Professional Negotiations with Clients

• Full use of the necessary university equipment and facilities will be built into each contract

– Office/Meeting Space– Computers– Supplies– Labs– Etc.

Use of Florida Tech Equipment and Facilities

• Faculty will be marketed and employed under the Florida Tech brand

• Florida Tech Consulting can negotiate with clients regarding the use of the Florida Tech logo in their literature

Use of Florida Tech logo

• Administrative support will be provided for each contract

– Contract negotiation/preparation – Budget preparation– Invoicing – Payment of expenses (faculty salary, student

stipends, tuition remission, etc.) – Ordering of equipment/supplies – Coordination of travel plans

Administrative Support

Promotion Consideration

• The Provost feels that consulting for Florida Tech Consulting is comparable to the development of intellectual property and therefore should receive significant consideration in the evaluation and promotion processes at Florida Institute of Technology.

• For all individuals who consult through Florida Tech Consulting (FTC), FTC will furnish a letter to that effect for either their annual evaluation or as part of their promotion package.

• This process will enhance the reputations of the faculty as well as the university

• Faculty will become more professionally recognized

• This should lead to more contracts and higher rankings (e.g., US News & World Report) attributed to the University

Increased Exposure

Potential Future Opportunities

• Generation of add-on or additional consulting contracts

• Consulting contracts that may stimulate potential research opportunities

• For large contracts or contracts that require expertise beyond the scope of Florida Tech, Florida Tech Consulting will joint venture with external partners that can assist faculty with contract completion

Joint Venturing with Partners

TRDA Building (off-campus)

1050 W. NASA Boulevard, Suite 145

Melbourne, Florida 32901

(321) 674-8945

consulting@fit.edu

www.fit.edu/consulting

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