UT patents lure investors
Conference aims to commercialize works, research
By Joel Weickgenant
University researchers had a chance to introduce their patented
work to business representatives Thursday at a conference hosted
by the Office of Technology Commercialization.
Organizers said the University hopes to stimulate investment into
patented technologies developed by UT researchers. The proceeds
from licensing fees and royalties may be an important source of
revenue for academic programs and continuing research at the University.
"It's a great way for the University to interact with businesses,"
said Carolyn Stark, president of the Austin Technology Council,
a sponsor of the event.
The conference was the first of its kind aimed at the commercialization
of University-owned technology, said Steven Nichols, UT associate
vice president for research.
"We're behind the power curve," Nichols said. "We
didn't start an office in research licensing until 1997."
He said other prominent public universities have been selling commercial
licenses for their research for decades. The University of Wisconsin
has been doing so since 1933, Nichols said.
Nichols said it's important that knowledge developed at the University
is being put to use in the real world. There is fundamental research
being done at the University that meets the needs of society as
well as the demands of the marketplace, he said.
"This is pretty exciting," Nichols said. "We're
trying to support educational research at the University."
David Lee, managing director for Sentient Ventures, said companies
like his had found it difficult to work with the University in the
past. But there has been a change in attitude recently.
"The mind-set has turned from 'how do we cover our patent
fees' to 'how do we commercialize our intellectual property',"
Lee said.
Researchers view commercialization as a chance to see their work
pay off.
"It's a chance to present our work to 300 people looking for
deals," said Bill Williams, who researches drug development
and clinical manufacturing for the College of Pharmacy.
Frances Tenoguzzo, conference keynote speaker, said forming connections
between researchers and investors is as delicate a process as it
is crucial. Tenoguzzo is the technology transfer director for the
Massachusetts General Hospital.
"We must address the agendas of both internal and external
forces," she said.
