In a recent CBI article by Helen Lau, Director of Business Engagement and Research Impact at the University of Birmingham, she highlights:
“Universities primarily focused on research excellence, like the University of Birmingham, are primed for supporting low technology readiness (TRL) activity. But from experiences with partners and university spin-outs, funding and support becomes more difficult when looking to move ideas and technologies into products and services that are ready for market.”
At this early stage, the principal product of pre-commercial research is intellectual property (IP). Managing this IP effectively is key to locking in the commercial value of the research to be able to attract the partners and funding necessary to move to a commercial proposition. The University of Birmingham's 34-year partnership with Rolls-Royce has delivered over 100 patents, illustrating the competitive advantage that can be obtained when the IP in university R&D can be harnessed effectively.
Low TRL activity also aligns with Triple Chasm's low commercial readiness level (CRL), a measure of progress towards commercial maturity. IP management is one of the key drivers of growth identified in the Triple Chasm model. While its significance becomes greater as an enterprise moves towards full-scale commercialisation, IP management is still something that should be considered at these early stages.
IP management does not just mean filing patents. Some view patenting as antithetical to publishing, but it does not have to be so. Deciding what to publish and when is as much a part of managing IP as preventing publishing anything to leave the opportunity to patent. Issues such as establishing the ownership of IP rights, recording the authorship of copyright works, and managing access to databases can also be important.
By considering the longer-term impact of early-stage IP management decisions, universities can help set up the possibility of longer-term commercial success.
In today's rapidly evolving global economy and with the recent renewed focus on the UK's industrial strategy, the role of universities increasingly extends beyond education, into supporting and driving local and national innovation.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
