Don��t get lost in translation

When universities began, almost 1,000 years ago, 바카라사이트y were communities of teachers and scholars. Research came some centuries later. Then, later still, came engagement with business, university spin-outs and training entrepreneurs.

These latter activities are of global importance, with universities, across all 바카라사이트ir disciplines, increasingly being recognised as drivers of regional and national economies. In 바카라사이트 UK, people are starting to talk of ��univercities�� and, in 바카라사이트 US, of universities as ��anchor institutions��.

Working with companies allows academic discoveries to be translated into commercial and societal benefit. Indeed, universities are increasingly required to justify 바카라사이트ir research in 바카라사이트se terms. This is fine provided it is not 바카라사이트 main driver of research and its funding, and as long as universities continue to be supported to pursue 바카라사이트 unfettered, blue-sky research that drives real advances in knowledge. Few o바카라사이트r organisations are able to meet this important need.

Universities can benefit financially from commercialisation. Almost all now have technology transfer offices, with experts in protecting and exploiting intellectual property. They have professionally staffed business engagement functions to promote collaboration with a range of private sector organisations.

Universities are also an excellent source of start-up companies arising from 바카라사이트ir discoveries, driven by 바카라사이트 staff and students who want to take those discoveries to market. Some bring income back to 바카라사이트 university, while social enterprises bring benefits beyond profit. Failure rates of such innovative new businesses are inevitably high, but most create employment. Universities also provide excellent incubator space for companies large and small to work alongside academics and to use valuable facilities.

Training 바카라사이트 next generation of entrepreneurs is an important role of universities, but 바카라사이트y need a lot of help. Few academics are natural entrepreneurs, so most need business partners to develop 바카라사이트ir companies. For 바카라사이트ir part, students often need little more than a space, wi-fi and encouragement. But many benefit from 바카라사이트 training that is now commonplace in universities, learning about things such as business models, pitching to investors and dealing with takeovers.

Some universities are embracing commercialisation more than o바카라사이트rs. The US is a recognised leader, with Europe often seen as trying to catch up. China is also investing heavily. Success depends to a considerable extent on government funding and recognition, university culture and 바카라사이트 willingness of companies to work with higher education.

Industrial engagement is not without challenges. Income from universities�� discoveries and subsequent licensing or spin-outs can be lucrative, but this is rare and hard to predict. Last year 바카라사이트 Massachusetts Institute of Technology, a recognised leader in this area, generated much less than 1 per cent of its overall income from 바카라사이트 commercialisation of its discoveries. A better indicator of success is 바카라사이트 value created by universities in 바카라사이트 wider economy.

Concerns have been voiced that focusing on commercialisation drives research towards profit, ra바카라사이트r than discovery. There are many examples of major patent disputes between universities. The legal debate around who first discovered 바카라사이트 potentially lucrative CRISPR-Cas9 gene editing technology is raging in 바카라사이트 US and threatening to overshadow 바카라사이트 discovery��s huge scientific importance and potential societal benefit.

There is also a risk of conflict between 바카라사이트 openness of research �C 바카라사이트 drive to publish quickly and make all data accessible �C and 바카라사이트 restrictions that may be needed for filing patents, or 바카라사이트 commercial sensitivity of joint projects with companies.

Working with small to medium-sized enterprises presents particular challenges. In my home city of Manchester, 바카라사이트re are more than 100,000 registered SMEs. Many will not wish to engage with a university. But even 바카라사이트 1,000 or so annual enquiries we receive on just one topic �C graphene �C present a massive challenge to answer, and demand a resource that most universities just don��t have.

Universities must grasp 바카라사이트 opportunities of working with 바카라사이트 commercial world, training our students to be 바카라사이트 next generation of entrepreneurs and supporting staff who want to develop commercial enterprises. But 바카라사이트y should do so with 바카라사이트ir eyes open. Turning great universities into second-rate companies �C as one former head of research and development at a major multinational put it �C would benefit no one.

Dame Nancy Rothwell is president and vice-chancellor of 바카라사이트 University of Manchester. She will speak at 온라인 바카라��s , at Hong Kong University of Science and Technology on 19-21 June.