Many people think if a university publishes findings they discover during a trial, people will automatically take note and start distributing the product or software to the masses. This is not the case. If a college discovers a new method of treating a disease or even invents a software program, the tech transfer company they are working with will help them get it to market. Before working with one of these companies, the head of a university will need to assess their track record to ensure they are the right fit for the job. The following are some of the benefits a university can take advantage of when working with a tech transfer company.
Assessing the Value of the Intellectual Property
When a university publishes their findings, it is their intellectual property. If the findings can be taken and used to make a product or piece of software, a tech transfer company will work with a university to bring their information to the masses. Before starting the job, they will assess how much their intellectual property is worth. If they feel it is worth the time and investment, they will work out an agreement with the university.
Finding Angel Investors
Usually, the individuals who work as tech transfer recruiters will take the university’s findings and show them to a variety of angel investors. The reason for this is to get the working capital needed to produce and distribute the product or software in question. Angel investors who are interested in investing in intellectual properties will be quick to start working with a reputable university.
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