University group awarded 拢500k to help commercialise intellectual property听
The 八卦爆料 has teamed up with four other South Coast universities to secure 拢500,000 in funding for a project to help unlock the commercial potential of intellectual property (IP) within the institutions.听
The consortium, which is led by the University of Portsmouth and also includes Southampton Solent University, Health Sciences University and Arts University Bournemouth, was awarded the grant to explore setting up a distributed technology transfer office (TTO) that will cover all five university partners.听听
The project, titled 鈥楤ridging the Gap: A Shared Technology Transfer Office (TTO) Vision鈥� will include training from external specialist consultants, who will work to explain the principles of commercialising IP, including how to identify any IP the university may currently have and how to create new IP. They will also provide assistance in the process of taking IP to market.听
Professor Simeon Keates, Deputy Vice Chancellor at the 八卦爆料, said: 鈥淥ften IP will have been generated through research or innovation activities where someone has 鈥榠nvented鈥� something new, but it does not have to be restricted just to those activities. It can include new ways of doing many things in a variety of contexts, including new teaching materials or media, or a new process for a professional service.听听
鈥淚n some cases, that may involve a licensing deal or similar, but in other cases it could involve spinning out a company. That can be a daunting prospect where someone has not done this before, but the consultants will provide guidance and blueprints on how to do this successfully.听听
鈥淏y seeking to engage a wide cross-section of staff and making this expert advice available to anyone with a viable project, we aim to unlock commercial potential and support the creation of start-ups that can quickly become profitable. It is important that all universities diversify their sources of income and take full advantage of all their assets – and IP is an extremely important asset.鈥�听
The project is the University鈥檚 first ever funding from UKRI Connecting Capability Fund (CCF)-Research England Development (RED) Fund.听
