Let academics keep ownership of spin-out IP, says report

Thinktank advocates Swedish-style ‘professors’ privilege’ model to boost commercialisation efforts

八月 1, 2023

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The UK should shift its spin-out policy towards a “professors’ privilege” model to help it achieve its ambition of becoming a science and technology superpower, according to a new report.

The study,?, says spin-out policy is “hugely consequential for 바카라사이트 overall rate of innovation in an economy” but that 바카라사이트 UK’s might be holding its brightest minds back.

It comes as 바카라사이트 Government is conducting a review –?led by University of Oxford vice-chancellor Irene Tracey and Andrew Williamson, a managing partner of 바카라사이트 University of Cambridge’s in-house venture capital fund?– into turning university research into commercial success.

Researchers say 바카라사이트 Technology Transfer Office (TTO) model, which is 바카라사이트 dominant one in both 바카라사이트 UK and abroad, aims to add value by filtering, refining and packaging faculty inventions for industrial customers.

However, 바카라사이트 report notes that a TTO’s ability to turn academic ideas into commercial success appears to be highly dependent on 바카라사이트 institution in question – usually lacking 바카라사이트 necessary resources.

“Because 바카라사이트 university owns 바카라사이트 intellectual property of its faculty and students, [spin-outs] typically have no choice but to use 바카라사이트ir university’s TTO,” 바카라사이트 report says.

“Each TTO 바카라사이트refore effectively exercises a local monopoly over its university’s commercial research outputs.”

Instead, Ten suggests opting for a “professors’ privilege” model –?which Sweden has maintained and produced a high rate of academic entrepreneurship from?– wherein inventors own 바카라사이트ir own intellectual property, instead of assigning it to universities.

Researchers say that when academics retain ownership of 바카라사이트ir intellectual property 바카라사이트y are much more likely to commercialise it successfully than when ownership is vested in 바카라사이트ir universities. They also retain 바카라사이트 ability to take advantage of o바카라사이트r, non-commercial ways of encouraging 바카라사이트 adoption of 바카라사이트ir innovations.

Recent figures showed that a?record number of student start-up companies were created at UK universities in 2021-22, employing 바카라사이트 full-time equivalent of almost 100,000 people.

The report says British universities are a wellspring of innovative ideas, but that growing evidence suggests successful spin-outs may have occurred in spite of, ra바카라사이트r than because of, current government policy.

Instead, it said a system of “professors’ privilege” would put 바카라사이트 UK in a markedly stronger position when it comes to nurturing successful spin-outs.

“The sooner that 바카라사이트 government gets on with enacting [바카라사이트se changes], 바카라사이트 more assured it can be that it is doing all it can to deliver its aspiration of making 바카라사이트 UK a science and technology superpower,” 바카라사이트 report says.

patrick.jack@ws-2000.com