Tech transfer offices are under increasing pressure to generate revenue, but an innovative tech transfer strategy can help them deliver.
Tech transfer offices are still defined by major licensing blockbusters – for example Northwestern’s royalties from epilepsy drug Lyrica or Columbia’s Axel patents, which cover a method of introducing foreign proteins into nucleated cells – but the field is taking on new dimensions as universities increasingly see those offices as critical revenue drivers. As a result, the future looks more dynamic, sustainable and exciting for all involved.
While the traditional focus of tech transfer offices has been to license intellectual property (IP) to spinouts, many universities have struggled to generate meaningful revenues from this licensing strategy. At the same time, tech transfer offices are facing mounting pressure to generate revenue in new and innovative ways. Rather than licensing their IP at a steep discount, universities are encouraging their top academic talent to develop technologies that have commercial applications capable of generating meaningful licensing revenue for the university.
