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Thursday, December 07, 2017

Technology Transfer Evolution

The vision statement of Technology Transfer office now includes `University Economic Engagement'.
University leaders are increasingly responding to the needs of the innovation economy—and in particular their local economies—by including innovation, entrepreneurship, and “economic engagement” programming in their strategic planning processes. As part of this response, university technology transfer offices are evolving, and must continue to evolve, toward participation in a broader scope of efforts—with patents and licensing as one emphasis, and also connecting with and engaging in other efforts that support the learning and discovery missions of the university. In evolving toward broader participation in university economic engagement, technology transfer offices will develop deeper relationships with industry and other community partners; broaden their reach to areas such as education, technology development, and entrepreneurship; and integrate more closely with other supportive administrative functions such as industry contracting. While budget and resource threats to the university research enterprise are creating increased pressure to generate revenue from licensing and innovation activities, university leaders must recognize that successful economic engagement will not be focused on short-term income, but rather on longer-term work on relationship development and ecosystem building. 

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