The opportunity at stake for U.S. Universities and Federal Government alone at $1.4 –2.5 trillion for 2012
Baltimore, MD and Leesburg, VA (PRWEB) August 09, 2012
RHT Consulting (RHT), a leading provider of strategy consulting services, and Canterbury Road Partners (CRP), a technology commercialization and entrepreneurship “accelerator,” recently announced their partnership to help research institutions improve three key metrics: the speed of commercialization, the volume of successfully commercialized intellectual property (IP), and the quality of the startup ecosystem in and around the campus, as measured by student, faculty, and alumni participation in technology entrepreneurship.
The partnership focuses on IP assets that have not been successfully commercialized, and uses novel quantitative and qualitative analytic techniques to prioritize the formation of locally based start-up companies. The figure below illustrates many reasons why university IP does not make it to market.
With its emphasis on realizing the latent value of IP portfolios, the CRP/RHT approach serves to augment the existing efforts of technology transfer offices.
CRP and RHT share a commitment to not only realizing latent value in uncommercialized IP, but also to pursuing creative commercialization pathways with the maximum impact on a research institution’s mission as well as economic and social benefit. Value can be created for the university and surrounding regional economy by launching new startups, creating licensing agreements, and/or establishing collaborative research and development (R&D) arrangements with industry.
With their proprietary approach, RHT and CRP believe that for every individual engagement, they can identify IP commercialization opportunities otherwise left to languish, and leverage them to launch at least 10 new startups, and bring 50 new students, faculty and alumni into entrepreneurship, in under a year.
“Over the last eight years, thirty percent of University invention disclosures have had commercialization attempts through licensing and start-up initiatives – two percent startups and 28 percent licenses and options – that leaves 70 percent on the shelf. RHT has valued the opportunity at stake for U.S. Universities and Federal Government alone at $1.4 –2.5 trillion for 2012,” said Rosemarie Truman, president and founder of RHT consulting.
Increasingly, research universities are being evaluated on not just the quality of their research, but on the impact that research has, and on the quality of the innovation ecosystem the university supports. As a recent report by Ewing Marion Kauffman Foundation, titled "University Technology Transfer through Entrepreneurship," found, “university ecosystem[s] [have] a significant impact on technology transfer.”
“Strong campus entrepreneurship and technology transfer represent an extraordinary opportunity for everyone—students, universities, communities, and academic inventors,” said Matt Van Itallie, a founding partner at CRP. “The opportunity for our communities in particular—more local business s in cutting-edge tech fields, more high quality local jobs, more local economic development, and more real world entrepreneurship experiences for students and alumni—is so great that we have to bring all of our resources to bear to seize it.”
The RHT and CRP partnership follows a five-step process, addressing key pitfalls that lie on the path from research to successful start-up:
1) Engage: assess the community’s technology and entrepreneurial “ecosystem”
2) Prioritize: identify high value innovations through proprietary analytics
3) Select: conduct multi-dimensional analyses to select high-potential intellectual property
4) Launch [for start-ups]: connect the right technology with the right expertise and startup team to drive spinout and commercialization in the campus community
5) Incubate: support growth of new companies, realizing optimal commercialization value
“The U.S. has an unprecedented opportunity at stake; China is predicted to overtake the U.S. on every dimension of the ‘innovation arms race’ by 2026. We need to act now and swiftly to retain our leadership position in the U.S. In addition, we need to apply innovation to our innovation approach,” said Truman.
About RHT Consulting
RHT Consulting provides strategy consulting services focusing on innovation that maximizes commercialization and growth; operational optimization/streamlining as well as developing subsequent transformation roadmaps. With 18+ years of experience, RHT Consulting’s leadership team has been the trusted advisor for 20% of the Fortune 50, start-ups and leading technology transfer organizations. RHT Consulting has unrelenting commitment to create fact-based insights and recommendations that create significant, sustainable value for clients.
One of RHT Consulting’s recent projects include creating a technology transfer strategy for the National Institutes of Health (NIH) Office of Technology Transfer (OTT). To learn more, visit http://www.rhtconsulting.com.
About Canterbury Road Partners
Canterbury Road Partners is a community development technology transfer accelerator based in Baltimore, Maryland founded by former McKinsey consultants, and quantitative analysts, a leading technology transfer policy expert, an intellectual property lawyer. We help bring ideas from the lab to the marketplace, and connect science with the necessary tools to solve practical problems. We’re helping get more ideas out of the lab into the marketplace, create more local start-up companies and high quality local jobs, and help faculty launch more companies. Our Management Team and international Advisory Board provide experience in technology transfer, entrepreneurship, private equity, intellectual property, economic development policy, business building and improvement, and extensive experience working with challenges at the intersection of the public and private sector. To learn more visit http://www.canterburyroadpartners.com.
President and CEO
Matt Van Itallie
Canterbury Road Partners