What is gonna stop me from using Virginia Techs official name to contact Chinese OEM, select an unknown dac, change the case and rebrand it, and market the hell out of it? (This is what most headphone companies do) did you know that this is exactly what most audiophile headphone companies do?
That's why most audiophile headphone companies make junk.
What might bite you is the minimum order quantities, you will need a decent chunk of cash to get started.
Money talks, it doesn't matter what name you use. If you do use their name, I'm pretty sure they'll be entitled to a cut, and that's if they even let you do it.