During last week’s national call hosted by Technology Transfer Tactics, we were given the opportunity to share details on ITN’s business model. It’s a unique structure as a virtual commercialization office for a dozen small colleges and universities, and over our five-year lifespan we’ve learned many lessons. While our growth is still a work-in-progress, I’ll share three major points for groups looking to harness academic talent that is spread across multiple institutions.
Identify Key Economic Development Players- find the economic development and funding organizations in your region who see the long term value of connecting faculty and business and get their commitment. You need people willing to go to bat for the organization. ITN could not have launched without the support of economic development groups from Lancaster and Harrisburg, as well as the PA Department of Community and Economic Development, Penn State Harrisburg, and Ben Franklin Technology Partners/CNP. These early leaders “got it” and were willing to put their money-where-their-mouth-is, by putting in sponsorship dollars, funding staff, giving us space and equipment, and providing access and support from their own staff. These leaders give you the credibility you need in the early days, before you have any real deliverables to showcase.
Fund Seed Grants - We put into play a bucket of money specifically set aside to fund small projects between faculty and business. Up to $20,000 has been available for faculty to apply for and use to accelerate a product or service. Over time we’ve learned that a committed business needs to be involved (not just a signature on a page), bringing cash match or a similar equivalent, and the deliverable has to demonstrate progress toward commercialization. Research for research sake does not help us meet our organizational objectives and plenty of other funding sources, with deeper pockets, support such activities. These seed grants are a great way to bring entrepreneurial faculty out of the woodwork and begin collaborations, particularly in the beginning.
Find Your Niche(s)- The sooner you can identify which pockets of talent and industry segments your faculty are engaged in, the quicker you can gain momentum and begin productive collaboration. Our industry/faculty groups happen to be things like biofuels, simulation and gaming, and engineering, however, they could be anything. There’s real value in connecting faculty across campuses who are doing similar work. This allows you to be a resource for companies in the region (or ones considering your region), and it pools together resources to attract grant funding. Ideas feed off ideas and connecting faculty and students from across campuses increases the innovation factor significantly. It also gives you multiple options when trying to connect with a business partner. With student work loads, faculty class commitments, and outside projects, you need options to make a timely fit when a company project comes into play. Not all faculty are available at the moment you need them.
These puzzle pieces lead to all kinds of exciting options, including lively faculty forums, industry forums, new product launches, and bigger grants. We attracted over $800,000 in funding for a regional biofuels center, available to all the faculty and companies in our network, largely thanks to these three elements. Of course, this raises other challenges, not the least of which is staffing and sustainability. The more your organization can demonstrate an ability (or real potential) to attract regional talent, keep talent, accelerate company growth, and assist economic development, the more likely state-wide funding will occur.
