In another impactful article, Paul Sanberg and the National Academy of Inventors (NAI) make a compelling case that technology transfer brings much more than just money to research universities.
According to the paper, titled “More than Money: The Exponential Impact of Academic Technology Transfer,” universities benefit in a number of meaningful ways through tech transfer activity. Here is a list of benefits, compiled by NAI:
- A vibrant culture of entrepreneurship that stresses recruiting and retaining faculty who innovate and commercialize.
- Increased student success through participation in real world research, exposure to the patent system, and increased job prospects through training and networking.
- Public benefits from innovations and products that address global challenges in health, the environment, and technology.
- Economic development via licensing revenues, better retention of local talent, and new high-skill, high-wage jobs created by university start-ups.
- Increased opportunities for funding through inter-institutional and interdisciplinary grants, and new international research relationships.
- Increased prestige and funding from a stronger university brand, and deepened ties with donors through relationships with start-ups.
“Technology transfer can be truly transformational to a university and to the community,” says Sanberg, co-author of the article and NAI president. “The NAI felt this paper was important because we are dedicated to supporting the patenting and research efforts of faculty, and wanted to make sure that the impact of those efforts was understood, beyond the bottom line.” Readers can access the full article here.
Source: Digital Journal
