In academia I see many seemingly-useful research papers and projects where I think, "Damn, that could be pretty valuable! Why aren't they doing a startup?" It seems like there is much more "raw value" (if that makes sense) in these research projects than what others have tried making into startups (insert redundant "X for Y" or clone app).
Thoughts?
I decided to think of ways of making money on it, and just built something on top of it, now I have customers and all that fun stuff.
A research project and a startup (software obviously) both have code parts to them.
It really comes down to the problems you're attempting to solve.
In my case, I love the position I'm in now since I have the ability to make a lot of different kinds of products by just adding a web app in front of a rest API.
As long as it solves a particular need, customers don't care how or even when you built it as long as it does what's advertised.
Research projects are how startups can start though. That's why I think they say get out there and just build something interesting to you (in this case a research project) and see where it takes you.