Effective Technology Transfer June 20, 2006Posted by Tom in Education, Innovation, Research, Technology.
The researchers base their findings on an exhaustive review of existing research from both the US and the UK. They note that while university technology commercialization is becoming more common, few universities have achieved “success” in these initiatives. The commercialization process is still too slow, too bureaucratic, and too expensive. The authors recommend that university administrators take a value chain approach to their technology commercialization efforts. First, they must continue to invest in the process’ major inputs—research. Then, they must clearly establish priorities in terms of desired outcomes and in terms of areas of research emphasis. Finally, they must create incentives for commercialization.
If you consider that most vibrant economic hubs have a smooth flow of knowledge back and forth between higher education and the private sector, it is clear that that technology transfer will facilitate both economic development and the building of a skilled workforce pipeline. Technology transfer "that works" thus is a critical part of an effective "convergence"-driven system.