Commercialization Gap

STAGE UNIVERSITY RESEARCH TECHNOLOGY DEVELOPMENT EARLY VENTURE DEVELOPMENT MATURE VENTURE DEVELOPMENT

THE GAP

Center for Innovation Management Studies

The Valley of Death

Resources

Research Resources

Commercialization Resources

Discovery

Early

Development Commercialization

Level of Development
Copyright 2003

Conditions for Technology-Based Economic Growth

A large, high-quality research base/world-class science Effective technology transfer and commercialization Fields of research matched with the needs and opportunities of the regional economy A commercial sector with scale, network connectivity, and entrepreneurial attributes Experienced start-up managerial talent Right-staged investment capital (early-stage) Mid-sized & large corporations for partnerships Flow of highly skilled, talented people Committed and supportive civic organizations (civic entrepreneurs) Aggressive, targeted, long-term enabling, local and State government policies and programs Interesting, vibrant communities

Pathway from Discovery to Technology Commercialization

Faculty Inventors

Technology Management Office

Protect Market - License

Established Companies Licenses Executed

Research Discovery

Invention Disclosures

Patent Applications

High-Tech Economic Development

Research Parks Research: Foundation of Tech. Commercialization Faculty and students Funding for research Facilities for research

Start-up Companies
Incubators

Start-Up Services & Early Stage Capital

Higher Education Institution Role in Economic Development

Undergraduates Graduates Mid-career Executive
Forming/accessing networks and stimulating discussion of industry development pathways Influencing the direction of search processes Meetings and conferences Hosting standard-setting forums Entrepreneurship centers & mentoring programs Alumni networks Personnel exchanges (internships, faculty exchanges, etc.) Industrial liaison programs Visiting committees Curriculum development committees Creating the built environment to support this

Educating People

Providing Public Space

Contract research Cooperative research with industry Technology licensing Faculty consulting Providing access to specialized instrumentation and equipment Incubation services

Problemsolving for Industry

Creating Codifiable Knowledge

Publications Patents Prototypes

Prof Richard K. Lester, MIT Local Innovation System project 12-13-05