The practice of technology transfer can greatly benefit a business. What is technology transfer? It is the sharing of technology between 2 or more organizations. Usually, one organization is promoting a fresh technology and licenses it to the other organization, whose goal is always to commercialize that technology. For instance, a university who is rolling out a new technology may license that technology to businesses in order that the businesses can produce the new technology right into a product, process, application, or service.
Who would be the organizations that are involved in technology transfer? Universities along with other primary research organizations regularly license their technologies to businesses. Also, businesses associated with different fields will benefit out of this sharing.
Parties on both sides of an agreement benefit. The researchers who developed the technology earn licensing fees, and also the organization who’s licensed it can get and manufacture it in patented products or services to be sold while avoiding rising research and development costs.
Many opportunities have emerged due to tech transfer. Fields like biotechnology and diagnostics, pharmaceutical drug discovery, energy and engineering, and microelectronics and optoelectronics are commonly utilizing technology transfer. Researchers can produce a technology, then license it to ensure organizations with specialized skill sets can take it further. Researchers could possibly be searching for organizations who can further develop the technology. These organizations may have superior manufacturing, marketing, and distribution capabilities.
Tech transfer also occurs so the technology can be applied in various fields that are principal purpose is at the same time. The researchers may have developed and been able to use the technology in one field, but license it to be used in other fields. For instance, the developer with the technology could be capable of exploiting the technology in diagnostic applications, but might not have the proportions to take advantage of it in therapeutic applications, so that they could license it to your therapeutic application focused organization. Finding available tech transfer opportunities and capitalizing with them might be exactly what your organization should develop that new products or services you’ve looked on for.