Technology transfer is the process of transferring or disseminating technology or knowledge, technical skills, methods and procedures or expertise from the University to partner organisations for commercial exploitation and is often considered to be a sub-set of knowledge exchange.
Technology transfer requires a proactive approach that combines engaging researchers, promoting the technology and encouraging potential industrial partners to use the technology. The business development team in conjunction with researchers across the University will identify and evaluate research that has potential commercial interest and develop plans to exploit it.
Technology transfer can generate important economic benefits for the University, but also knowledge spillovers that result through industry-university collaboration. This can range from simple consultancy through to the licensing of intellectual property. It helps develop early stage research into tools for direct use by the research community, or into bases for new platforms, products or services for public use and ensures that that the interests and rights of the university in intellectual property are protected. Furthermore, technology transfer promotes the University and its industrial partners and increases their reputation for research and innovation.
The process to exploit commercially research varies widely. It may involve licensing agreements, the setting up of joint ventures and partnerships, spin-out company formation or collaboration agreements with commercial partners. Furthermore, there is often the need to access internal/ external funding opportunities and at certain stages, the raising of venture capital and external investment. The business development team will manage the complete program of activities including internal approval and support in conjunction with the researcher.
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