based on limited experience many many exceptions
TRANSCRIPT
Based on Limited ExperienceMany many exceptions
Lot of evidence to suggest
Academic research can lead to significant commercial value creation
Academic technology transfer is hard
Academic Research => Companies
Small Sample from Stanford
Small Sample from Other Places
Why is technology transfer from
academia so hard?
Many Reasons…
Lot of university research not relevant
Developers of technology not motivated enough to participate
What if technology is right and people are motivated?
Value Creation for a Successful Company
Valu
e
Time of Tech Transfer
Univ Focuses on
Tussle with University Tech Office
Univ wants a fraction of the final value
o Breaks everything
Entrepreneurs
o Don’t have much capital
o Want to conserve equity
So cannot please university
Tech developers more important than the exclusive license
Value Creation for a Successful Company
Valu
e
Time of Tech Transfer
Tussle with Technology Developers
Developers want too much equity given their creation represents most of the value ignoring
o Risks
o Future developments needed
Investors and managers
o Want to conserve equity Only couple of developers are key - identifying
them critical
Stanford has good track record …
9
Stanford’s Approach?
Stanford Approach
Tech office “metrics of success”Licensing revenue is not one of them
butSuccessful technology transfer
Tech office is a partner Wanting to help faculty and students as opposed to adversarial negotiator
But then how does Stanford benefit from
Tech Transfer?
Final Takeaways Academic research can lead to significant
commercial value creation
Successful tech transfer from academia requires
Identification of technology that is relevant
Persuading developers to be part of tech transfer
o with reasonable expectations
Change in universities’ tech office approach
o Metrics of success: not licensing revenue but actual tech transfer
o Open source is also forcing this change