Technology Transfer: Accelerating Economic Development Through University Technology Transfer (cont.)

The exemplary universities and the environments in which they operate provide some consistent lessons to guide public and private decision makers:

• A strong and focused university research base feeds the pipeline for commercialization: Excellent university technology transfer is built on excellent research. This research provides the pipeline for commercialization of research results. Moreover, just as important as the absolute magnitude of a university’s research portfolio is its strategic focus. In order for some model universities to build strong and focused research bases, they assess core competencies and develop strategic plans around those core competencies aimed at: (a) hiring “stars” in targeted fields, (b) targeting federal R&D funds, (c) increasing corporate sponsored research, and (d) promoting state initiatives that leverage federal and corporate funds. Examples are found at Stanford, CMU and Georgia Tech.

• At universities such as Stanford, shown above, research funding from the federal government often accounts for three-fourths or more of total university R&D expenditures. Photo by Linda A. Cicero/Stanford News Service.

  Federal R&D funding provides a critical base for technology transfer and commercialization efforts: In most universities successful in technology transfer, there is substantial research funding from the federal government, often accounting for three-fourths or more of total university R&D expenditures. This is the case for MIT, Stanford, UW-Madison, Washington University and other major research universities. Federal research funding for universities comes mainly from the U.S. Department of Defense and the National Institutes of Health. The National Science Foundation also plays a significant role through its programs.

• Champions catalyze most successful university-based economic development: In virtually every region in which a major research university has played a strong role in fostering regional economic development, one can point to a champion, often a strong university president or chancellor. These university heads, such as UCSD’s former Chancellor Atkinson and Washington University’s former Chancellor Danforth, have the experience, vision and will to move their institutions into new roles, as well as the leadership to rally the community’s corporate leaders and public decision makers.

• The entrepreneurial culture of a university is key to its technology transfer success: The entrepreneurial culture of a university is perhaps the strongest and most pervasive influence on its technology transfer and commercialization performance. Creating an entrepreneurial culture is both bottom-up and top-down – requiring a combination of leadership from the top and entrepreneurial drive from the bottom. Universities successful in transferring technologies often provide implicit or explicit rewards and incentives for faculty who participate in technology transfer and commercialization activities, and have hiring practices that favor industry and entrepreneurial experience. Often model universities also have strong entrepreneurship programs that offer entrepreneurial courses and activities for engineering and science students as well as business students. These activities include business plan competitions, practicum with start-ups and mentoring by successful entrepreneurs. Examples include MIT’s Entrepreneurship Center and Stanford’s Technology Ventures Program.

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