| Autor: Haim V. Levy | 735 |
Strony: 735-744
pełen tekst
Summary
Universities and Research Institutes seek to transfer technology to the private sector, and therefore capture the benefits in the commercialization of their innovation and intellectual property rights (IPR). This paper briefly examines the option of using technology based spin-off companies, particularly in the biomedical domain, and discusses their potential economic value.
A solid foundation of academic excellence and cutting-edge basic and applicable research are a fundamental prerequisite for commercial exploitation of universities IPR. Moreover, strong technology transfer organizations combined with a solid IPR protection capacity is crucial for successful technology transfer transactions.
Transformation of biomedical innovation, resulting from basic research, into economic value is a complex, extensive and costly process. Spin-offs (and startups13 in general) primarily depend on high risk investment to support years of research and development (R&D) and clinical trials. Availability of appropriate funding, from local venture capital funds14 and governmental grants, dedicated to take the risk of investing in biomedical projects, is therefore vital for their materialization. Governments can thus use spin-offs to promote regional development.
Spin-off should consider, as soon as applicable, to seek strategic alliances with large companies, sharing endeavors in the development and marketing of a viable product. To this end, it is worth noting that most of the large pharmaceutical companies’ strategy is to recruit new technologies and new potential drugs through mergers and acquisitions or alliances with small medium enterprises (SMEs). As to the benefits, if a university holds an equity position in a spin-off or has licensed key IPR, the financial payback can be substantial and therefore, make spin-off support an attractive venture for academic institutions.
pełen tekstSummary
Universities and Research Institutes seek to transfer technology to the private sector, and therefore capture the benefits in the commercialization of their innovation and intellectual property rights (IPR). This paper briefly examines the option of using technology based spin-off companies, particularly in the biomedical domain, and discusses their potential economic value.
A solid foundation of academic excellence and cutting-edge basic and applicable research are a fundamental prerequisite for commercial exploitation of universities IPR. Moreover, strong technology transfer organizations combined with a solid IPR protection capacity is crucial for successful technology transfer transactions.
Transformation of biomedical innovation, resulting from basic research, into economic value is a complex, extensive and costly process. Spin-offs (and startups13 in general) primarily depend on high risk investment to support years of research and development (R&D) and clinical trials. Availability of appropriate funding, from local venture capital funds14 and governmental grants, dedicated to take the risk of investing in biomedical projects, is therefore vital for their materialization. Governments can thus use spin-offs to promote regional development.
Spin-off should consider, as soon as applicable, to seek strategic alliances with large companies, sharing endeavors in the development and marketing of a viable product. To this end, it is worth noting that most of the large pharmaceutical companies’ strategy is to recruit new technologies and new potential drugs through mergers and acquisitions or alliances with small medium enterprises (SMEs). As to the benefits, if a university holds an equity position in a spin-off or has licensed key IPR, the financial payback can be substantial and therefore, make spin-off support an attractive venture for academic institutions.