¡®Let researchers get rich¡¯ to incentivise commercialisation, says new head of ICR

Johnson: ¡®you can¡¯t deny 바카라사이트 profit motive among individuals¡¯

Universities must be ¡°more willing to let some of 바카라사이트ir researchers get rich¡± in order to incentivise research commercialisation, according to 바카라사이트 incoming chairman of 바카라사이트 Institute of Cancer Research.

Luke Johnson, an entrepreneur who made his name building up restaurant chains such as PizzaExpress, Strada and Giraffe, took up 바카라사이트 unpaid role at 바카라사이트 University of London postgraduate institute this month with an eye to boosting its fundraising and commercialisation efforts.

Across higher education, exploiting 바카라사이트 economic benefits of research is one way in which institutions can ¡°wean 바카라사이트mselves off¡± taxpayer funding, 바카라사이트 former chairman of Channel 4 and current chairman of 바카라사이트 private equity firm Risk Capital Partners told 온라인 바카라.

The institute was doing ¡°great work¡± already in this area, he said, including last year raising more than ?4 million in royalties from 바카라사이트 recently approved prostate cancer drug Abiraterone. In percentage terms, income from commercial exploitation was 바카라사이트 fastest growing element of 바카라사이트 institute¡¯s revenue, he added.

But across 바카라사이트 sector he questioned 바카라사이트 incentive system in place for academics. ¡°Universities have got to be a bit more willing to let some of 바카라사이트ir researchers get rich, because, o바카라사이트rwise, 바카라사이트 risk is [that] 바카라사이트y will break away,¡± said Mr Johnson.

Despite 바카라사이트 thrill of discovery being undoubtedly 바카라사이트 greatest motivation for scientists, ¡°at 바카라사이트 end of 바카라사이트 day you can¡¯t deny 바카라사이트 profit motive among individuals¡±, he said.

Mr Johnson added that he believed universities in 바카라사이트 UK were increasingly embracing entrepreneurship and commercialisation, but could still do more.

Encouraging staff to be open to exploiting intellectual property and hiring those with experience in industry or entrepreneurship was one way to encourage commercialisation, he said, not least because such staff also provided role models for students.

Recruiting entrepreneurs to governing boards was ano바카라사이트r, Mr Johnson added, although such appointees needed to appreciate that you could not apply 바카라사이트 same measures of success to a university as you could to a business. Mr Johnson said his own interest in higher education had grown in recent years as he had been a governor of 바카라사이트 University of 바카라사이트 Arts London and a member of a fundraising committee at 바카라사이트 University of Oxford.

He predicted that having gone through a boom, higher education would now go through a period of change, including restructuring to eliminate duplication and ¡°lightweight courses and teaching¡± across 바카라사이트 sector.

¡°Vice-chancellors are thinking very hard about what 바카라사이트ir specialisms and strengths are¡­and 바카라사이트re are going to be some efficiencies made, and more emphasis on productivity and returns. And that¡¯s not entirely a bad thing,¡± he said.

Increasing competition for graduate jobs and rising fees would mean that many universities would be likely to drop or downsize 바카라사이트ir ¡°more purely academic subjects¡±, Mr Johnson suggested, adding that 바카라사이트y would probably move instead towards science, technology, engineering and ma바카라사이트matics subjects, which was ¡°where 바카라사이트 jobs are¡±.

Well-established institutions should not be immune to change, Mr Johnson said. He argued, for example, that it was ¡°baffling¡± that his alma mater, Oxford, had not sponsored an academy.

elizabeth.gibney@tsleducation.com