University Technology Transfer

Book excerpt: Demystifying technology transfer—an increasingly important but little-understood aspect of research universities' mission. How do we transfer the brilliance of university research results into new products, services, and medicines to benefit society? University research is creating the technologies of tomorrow in the fields of medicine, engineering, information technology, robotics, and artificial intelligence. These early-stage technologies need investment from existing and new businesses to benefit society. But how do we connect university research outputs with business and investors? This process, Tom Hockaday explains, is what university technology transfer is all about: identifying, protecting, and marketing university research outputs in order to shift opportunities from the university into business. In this detailed introductory book—a comprehensive overview of and guide to the subject—Hockaday, an internationally recognized technology transfer expert, offers up his insider observations, opinions, and suggestions about university technology transfer. He also explains how to develop, strategically operate, and fund university technology transfer offices while behaving in accordance with the central mission of the university. Aimed at people who work in or with university technology transfer offices, as well as anyone who wants to learn the basics of what is involved, University Technology Transfer speaks to a global audience. Tackling a complex topic in clear language, the book reveals the impressive scale of patenting, licensing, and spin-out company creation while also demonstrating that university technology transfer is a commercial activity with benefits that go well beyond the opportunity to make money.