Posted by Zoe Geoffrion , on Oct, 2017
The pace of innovation is dramatically accelerating. What once took years to develop can now be done in months. To keep up with this quickening pace if innovation companies are turning to universities as a continuous source of new innovation. Learn more about this here.
Shopping for IP
When you look for a new home or a car to buy you evaluate multiple models, features and price points, to select the best product that meets your needs and budget. It is no different when selecting university IP.
First you must find out the IP that is available in your area of interest. The easiest way to do this is using a search app that focuses on universities intellectual properties. One such app can be found here. After selecting appropriate candidates for in-licensing, you then need to conduct your due diligence on the IP. The first step here is to reach out to the technology transfer office of the inventing institution and set up a call with the lead inventor of the IP of interest. Be prepared with a list of questions prior to the call, to get your mind how the technology was developed, current test results if any and suggested next steps for improving the technology.
Assessing the Market Potential of In-licensing Candidates
Once you identify a few promising in-licensing candidates it is necessary to evaluate the market potential of each. This requires looking at the IP landscape, reviewing competitive products and determining if the new IP has potential energy in your hands to overcome the entrenched incumbents. InventionEvaluator provides a quick and inexpensive service to help companies evaluate the market potential of new IP.
Learn more about finding and commercializing intellectual property by visiting the Tekcapital website.