Transforming TTOs: Filling the existing technology commercialization void

Abstract

The technology commercialization environment has dramatically shifted in the past 20 years, yet most technology transfer offices (TTOs) continue to operate and are measured by the same metrics as when they were initially formed over four decades ago. Twenty years ago established firms sought external sources of technology that could be internally developed into new and improved products, services or processes. TTOs operating a "patent and license" model were able to supply the raw intellectual property (IP) these firms needed. New product development, which creates direct public value from publicly-funded research, is now largely outsourced by these established firms to startup companies. To fill the product-development void created by this market shift and to fulfill the mandate give them by the Bayh-Dole Act, TTOs need to transition to a "business building" operating model. This paper outlines a five-component strategic plan to support this transition. Given that the transition requires new TTO metrics and license agreement frameworks, both are also covered in this paper. Finally, given that a plan without resources is but a hallucination, the paper also provides a means to fund this TTO capacity-building transition.