Partnership Model for Technology Commercialization

The Partnership model is another effort to bring university technology to the marketplace and hence achieve the goal of much desired of Transfer of Technology creating a mover innovative environment.

Phoenix Business Journal reports that Arizona State University and the University of Pennsylvania entered into a partnership to help each other commercialize technology born at the schools.

"The collaboration will team Arizona Technology Enterprises -- ASU's technology venturing arm -- and the University of Pennsylvania's Center for Technology Transfer for the purpose of bringing university technology to the marketplace.

"We are moving beyond the conventional tech transfer model by combining the collective resources of our offices for the mutual benefit of our respective clients," said Augustine Cheng, managing director of AzTE. "Penn will likely have relationships that we do not have with certain companies or venture firms that may be interested in licensing or investing in ASU technology. Their licensing professionals will likely have expertise in fields that we lack in our office. The same will be true the other way around."

Each university technology transfer office will share a percentage of any resulting income received by the other school based on the effort and activity involved in commercializing the technology. The universities will remain owners of their respective intellectual property."

To read the piece from Phoenix Business Journal click here.