Aired on 23rd February | 10 AM PST
Only 16 universities are taking 70% of revenue all the US universities generate from their patents. 130 US universities aren’t having an ROI on their patent that could even support operating costs of a TTO.
This financial picture of university technology transfer suggests that universities have strong incentives to come up with new models of technology transfer. – Walter D. Valdivia
Thus, while few are making money, majority is losing money from licensing. This pinpoints that there is lot of strategies that universities need to tweak in their model of technology transfer.
Consider University of South Florida, for example. Its patent US8138907 discloses a travel assistant device which overlaps on most of the taxi services.
The university can enforce this patent on relevant companies or can license it to companies – Mercedes, Lyft, BlaBla Cars — that want to have such patents for their business.
Also, in the recent years government support has started declining while at the same time resistance to increase tuition fee has been increasing. This, thus, is the high time when universities tweak their strategies to get best ROI on their researches.
GreyB is conducting a free live training session on the same line. In the session, Deepak Syal will discuss multiple strategies that will help a TTO know:
- The top tweaks universities need in their patent strategy
- How to use big data to find and convince a potential licensee
- How to find research areas that command max ROI