University venturing: technology transfer and commercialisation in higher education

Abstract

This study identifies the forces and factors affecting technology transfer and commercialisation at universities. It assesses successful technology transfer and commercialisation programs and summarises the "best practices" of five universities: Georgia Tech, North Carolina State, The University of Florida, The University of Texas at Austin and Virginia Polytechnic Institute. The paper identifies several forces that are driving universities to be more involved in economic development and more engaged in the commercialisation of technology. The benchmarking study focuses on the role of leadership in these institutions and the need to embrace technology transfer and commercialisation, reviews how each university supports technology transfer initiatives, highlights innovations to facilitate technology transfer and describes how the universities utilise technology transfer to support the economic development of their regions and states. The study concludes with lessons learned and a comparison of the universities that comprised the benchmarking study.