The financial crisis has blown a chill wind through US technology transfer offices, making it harder to fund start-up companies. This is prompting a search for new ways to reduce the risk profile of novel technologies, and at the same time increase internal efficiencies, cut costs and sharpen academic awareness of industry’s needs.
“There has been no impact on the flow of ideas. But there has been an impact on how [these ideas] are transferred into a commercial venture and on subsequent funding,” Charles Cooney, Professor of Chemical Engineering and Faculty Director for the Deshpande Center for Technology Innovation at MIT, told delegates at the annual US BioIndustry Organization conference in Chicago this week.
“The financial community is less willing to invest and follow-on funding is very difficult to find,” Cooney said. This is creating pressure to advance ideas further than in the past.
To read the full, original article click on this link: Science|Business The new realities for tech transfer
Author: Nuala Moran
