Technology Transfer At University of Michigan
On Wednesday, February 11th 2009, Andrew McColm, the Associate Director of New Business Formation at UM's Technology Transfer came and gave a talk to the group. Andrew is in charge of creating Startups from the various technology being researched at the University of Michigan.
The Technology Transfer Process
The process at UofM starts with the disclosure. A faculty member who has created something submits a disclosure to the tech transfer office. The office then decides whether to license the technology, support a startup or reject the disclosure altogether.
Licensing the technology
In this scheme, an external company who is interested in using a particular technology pays the university for use of such technology. The technology transfer people will market and contact companies and persons who may be interested with this technology.
Creating a startup
When creating a startup, the technology transfer department determines what funding is necessary. They determine where is it going to come from (Venture Capitalist, Angels, or the university). They then help create the company. This usually involves grouping the faculty with other people necessary for running a company. These will include people who understand how to run a startup, and also people who knows how to market product.
Technology Transfer Policies
Every university has a different technology transfer policy and system. These policies determine what technology / service will be funded, rules governing faculty work, and also rules regarding the owner of intellectual property. It is important that Faculty reads and understand the various rules that govern the technology transfer process.
Universities have different mindsets regarding technology transfer.
- A university may see the technology transfer process as a public service, which means that the university does not expect a big profit on these investments, but would like the technology to be 'out there'.
- A university may see the process as a income generator, which means that the university will more likely to select which technology will be supported.
Related to this, a university may have:
- A 'base hit' approach, that means funding many small businesses
- A 'home run' approach, which means funding a technology that was really big
Other policies of interest are related to which technology must be licensed from the university. In the University of Michigan, technology that are licensed are those substantially use university resources.
Article Contributors: Reza Ferrydiansyah
