Academic research is the fuel that drives an innovative, knowledge-based economy. University laboratories are hotbeds of innovation and breeding grounds for startups. It is the Technology Transfer Office (TTO) that holds the key to realizing the transformational value of the research, both to the university and to broader society. By building knowledge and policies within university TTOs, and providing the necessary innovation management, evaluation and licensing tools, IdealityRoads facilitates an efficient and profitable commercialization process that unlocks the real-world potential of academic research.
Many of today’s leading innovations began as academic research in a university lab. Yet, the process of getting it out of the lab and into the market is complex, with many elements needing to be taken into account.
The role of the TTO requires many varied skills. They must act as a bridge between researchers and industry, proactively engaging both with academics to identify areas of potential interest outside the university, and with industry to gauge their interest in the research being conducted. In doing so, they have to align the often-conflicting interests of the researchers, the university and investors, while promoting a culture of trust and good faith. They must know how to negotiate licensing deals that protect the interests of the university, while ensuring that spun-off companies are structured in such a way as to enable global growth from day one.
IdealityRoads works to build TTO capabilities in all these areas and more, developing policies that accord with global standards. Under the company’s mentorship, TTOs are able to manage the interests of the different parties, ensuring that agreed terms are neither unduly burdensome for the researcher not unduly limiting to the rights of the institution to seek investors and market the research. IdealityRoads also helps to create a system of incentives that show people the benefits of working with a TTO, enabling the creation of success stories.
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