Tech Transfer eNews Blog

Ohio IP Promise program launched to simplify tech commercialization in statewide

By Jesse Schwartz
Published: September 11th, 2019

Ohio is launching an initiative to get its universities on the same page when it comes to commercializing research and innovations.

Ohio IP Promise will provide common guidelines to its 14 public universities about taking their technologies to the marketplace, with an emphasis on streamlining the process. The program is meant to encourage entrepreneurship and start-up formation, which officials say can help the state’s economy and attract outside investment as well as lead to re-investment in university research.

“This is a tangible step to show the rest of the nation and the world that Ohio has its act together, and has a great university system that is collaborating with entrepreneurs and investors to commercialize the things that are happening on our campuses,” says Ohio Lt. Gov. Jon Husted.

Ohio IP Promise is built on the idea that, without established and effective rules for licensing and commercializing inventions, the technology transfer process can be so complicated that it prevents ideas from taking off. To address this, one of the program’s guidelines encourages universities to publish their commercialization practices online.

“Doing things the way we’d always done them wasn’t working,” says Husted. “Now many universities who are not players in this space are going to become players in the space, and those who were players in this space are going to become better.”

Source: Cleveland

Posted under: Tech Transfer e-News

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